SEARCH MINERALS INC.

Search Minerals Inc through its wholly owned subsidiary, Alterra Resources Inc., holds 8,015 hectares in 10 licenses comprising 321 claims in western Labrador with the potential for rare earth metals (“REE”). Initially staked in 2007, the ground holding was significantly enlarged in 2009 following a marked increase in exploration activity for REEs in the area. Research in the public archives identified two holes drilled by IOC within Search’s Strange Lake Property. These holes SL 15 and SL 16 intersected significant intervals of Zirconium, Yttrium and Niobium oxides. Results include 8.41 m grading 1.65% Zr oxide, 0.27% Y oxide and 0.16% Nb oxide (SL 15) and 9.52 m grading 2.18% Zr oxide, 0.18% Y oxide and 0.12% Nb oxide (SL 16).