Safe Harbour Statement The following presentation may include certain “forward-looking statements” within the meaning of the United States Private Litigation Reform Act of 1995 and applicable Canadian Securities Laws. All statements other than statements of historical fact, included in the presentation, including without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Search Minerals, are forward-looking statements. Words such as “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “intend”, “believe”, and other similar expressions are forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather reflect our current views with respect to future events and are subject to risks, uncertainties, assumption and other factors, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that such forward-looking statements will prove to be accurate. We base our forward- looking statements on information currently available to us and we do not assume any obligation to update them, except as required by law. An additional Cautionary Note to Investors: In the event the we use certain terms in this presentation such as “resource”, “measured resource”, “indicated resource” and “inferred resource”. US investors are cautioned that, while such terms are recognized and required by Canadian Securities Laws, the United States Securities and Exchange Commission does not recognize them. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination has been made. US. investors should not assume that all or any part of measured or indicated resources will ever be converted into reserves. In addition, “inferred resources” have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Accordingly, information concerning descriptions of mineralization in the presentation may not be comparable to information made public by companies that are subject to the SEC’s Industry Guide 7. For further details of the Company’s procedures and the policies for data verification, the reader is referred to the Company’s news releases and other material information available on the Companies website at www.searchminerals.ca or on SEDAR at www.sedar.com 2
What are the Rare Earth Elements? •A Series of 17 elements including the lanthanides and scandium and yttrium. •Divided into two categories: Heavy and Light Rare Earth Elements. Heavy tend to be more valuable. •Rare Earth somewhat of a misnomer, aside from promethium, they are relatively abundant. Named rare due to the rare earth minerals they were first isolated from. •Rare Earth Elements commonly associated with peralkaline volcanic and plutonic rocks. •Elements are found together in minerals •Current largest producer is China. Industry has seen supply concerns and elevated prices 3
Rare Earth Elements: Critical for the 21 st Century The Toyota Prius is estimated Green Energy to contain: 1 kg Neodymium Metal • Hybrid and Electric Vehicles 15 kg Lanthanum Metal 0.1 kg Dysprosium Metal • Wind Energy • Energy Efficient Lighting Sales are greater than 2 million units per annum Military and Defence • Communications • Aeronautical engineering and Jet Engines • Guidance, Lasers, Sonar, Optics, and Electronic Counter Measures Modern Technologies • Cell Phones and Digital Cameras • LCD and Plasma Televisions • MRI machines, X-Ray, and PET Medical imaging TSXV: SMY SEARCHMINERALS.CA 4
Port Hope Simpson REE District CANADA
Foxtrot Project 6
Cleared Outcrop at Foxtrot Project Fox Harbour Volcanic Belt area 7
Foxtrot Project 8
• Resource estimate released Q4’12 – three phases of drilling, up to 450 m depth • 9,229,000 tonnes of indicated resource @ 1.06% TREO • 5,165,000 tonnes of inferred resource @ 0.93% TREO Tonnage Dy Nd Y HREE+Y TREE+Y Classification Zone (in tonnes) (in ppm) (in ppm) (in ppm) (in %) (in %) Indicated Central 9,229,000 189 1,442 1,040 0.17 0.88 Indicated Extensions -- -- -- -- -- -- INDICATED TOTAL 9,229,000 189 1,442 1,040 0.17 0.88 Inferred Central 3,291,000 178 1,339 982 0.16 0.83 Inferred Extensions 1,874,000 171 1,046 960 0.16 0.67 INFERRED TOTAL 5,165,000 176 1,233 974 0.16 0.77 Tonnage Dy 2 O 3 Nd 2 O 3 Y 2 O 3 HREO+Y TREO+Y Classification Zone (in tonnes) (in ppm) (in ppm) (in ppm) (in %) (in %) Indicated Central 9,229,000 218 1,687 1,345 0.21 1.07 Indicated Extensions -- -- -- -- -- -- INDICATED TOTAL 9,229,000 217 1,687 1,320 0.21 1.06 Inferred Central 3,291,000 205 1,567 1,247 0.2 1 Inferred Extensions 1,874,000 197 1,224 1,219 0.19 0.81 INFERRED TOTAL 5,165,000 202 1,442 1,237 0.2 0.93 9
• Channel sample taken at surface – representative • Extensive mineralogical work (SGS Advanced Mineralogy Facility) • Beneficiation by gravity, magnetic separation and flotation to produce concentrate with recovery of +80% • Concentrate grade 2.15 X ore grade • Concentrate processing Acid Bake Water Leach Purification by pH adjustment to 3.0 with MgO Oxalate Precipitation at pH 2.0 to recovery REE’s • +70% recovery of Nd, Tb, Dy, Y 10 10
Search Minerals (Canada) REE Project Indicated Inferred Channel Sample Units Resource Resource Sample Mass t 9,229,000 5,165,000 1.25 Y 2 O 3 ppm 1320 1237 1404 La 2 O 3 ppm 1926 1669 1771 FOXTROT CeO 2 ppm 4105 3544 4372 Channel Sample Pr 6 O 11 ppm 465 400 516 Nd 2 O 3 ppm 1687 1442 1750 taken at surface Sm 2 O 3 ppm 303 264 338 Eu 2 O 3 ppm 15 13 16 has ~ the same Gd 2 O 3 ppm 217 210 260 as the indicated Tb 4 O 7 ppm 38 35 43 Dy 2 O 3 ppm 217 202 267 and inferred Ho 2 O 3 ppm 42 39 50 Er 2 O 3 ppm 118 112 140 resource grade Tm 2 O 3 ppm 17 16 20 (2013) Yb 2 O 3 ppm 105 103 117 Lu 2 O 3 ppm 16 16 17 ZrO 2 ppm 12985 13586 21687 Nb 2 O 5 ppm 789 677 1015 LREO % 0.85 0.73 0.87 HREO % 0.21 0.2 0.23 TREO % 1.07 0.93 1.11 11
Mineralogy (Channel Sample) The major rare earth minerals identified were – Allanite (Ca,Ce) 2 (Fe 2 ,Fe 3 +)Al 2 O - (SiO 4 )(Si 2 O 7 )(OH) – Fergusonite (Y,Er,Ce,Fe)NbO 4 – Chevkinite (Ce,La,Ca,Th) 4 (Fe 2 +,Mg)(Fe 2+ ,Ti,Fe 3+ )-(Ti,Fe 3+ ) 2 (Si 2 O 7 ) 2 O 8 , – Monazite (Ce,La,Pr,Nd,Th,Y)PO 4 – Bastnasite (Ce, La)CO 3 F – Zircon ZrSiO 4 – Apatite (Ca,Ce,Y) 5 (PO 4 ,SiO 4 ) 3 (F,Cl,OH). – Fine grained with D50 particle sizes ranging from 63 µm for allanite to 22 µm for fergusonite. – Nd - allanite (66.4%), chevkinite (12.7%), monazite (10.1%), bastnasite (and synchysite) 7.9% and fergusonite (2.9%). – Dy - allanite (49.3%), fergusonite (40.5%), chevkinite (8.8%), and bastnasite (1.4%). 12
Mineralogical Distribution of Nd 100.0 90.0 80.0 70.0 Mass (% Nd) 60.0 50.0 40.0 30.0 20.0 10.0 0.0 Combined +38um -38um 12.7 12.2 14.4 Chevkinite 10.1 6.8 21.3 Monazite 66.4 72.0 47.9 Allanite 7.9 7.7 8.5 Bastnasite 2.9 1.4 8.0 Fergusonite 13
Mineralogical Distribution of Dy 100.0 90.0 80.0 70.0 Mass (% Dy) 60.0 50.0 40.0 30.0 20.0 10.0 0.0 Combined +38um -38um 8.8 10.3 6.2 Chevkinite 49.3 65.0 22.3 Allanite 1.4 1.6 0.9 Bastnasite 40.5 23.1 70.6 Fergusonite 14
Early Metallurgical Work Ore Ore Waste Crushing, Grinding, Energy Physical Separation Concentrate Chemical Chemicals Treatment and Leach Residue and Purification Impurities Rare Earth Chemicals Rare Earth Product Precipitation 15
Beneficiation (Gravity, Magnetic Sep and Flotation ) Concentrate Assay Recovery (%) Ce 2 O 3 % 0.94 83.0 Nd 2 O 3 % 0.38 83.0 Y 2 O 3 % 0.31 83.7 ZrO 2 % 3.71 65.9 Nb 2 O 5 % 0.22 81.8 La 2 O 3 g/t 3968 86.2 Pr 6 O 11 g/t 1160 86.6 Sm 2 O 3 g/t 741 84.3 Eu 2 O 3 g/t 34 83.7 Gd 2 O 3 g/t 559 82.7 Tb 2 O 3 g/t 93 82.4 Dy 2 O 3 g/t 543 81.4 Ho 2 O 3 g/t 105 81.6 Er 2 O 3 g/t 297 81.7 Tm 2 O 3 g/t 42 81.9 Yb 2 O 3 g/t 249 81.7 Lu 2 O 3 g/t 37 81.8 U 3 O 8 g/t 54 83.8 ThO 2 g/t 274 86.6 16
Purification and Precipitation Leach Purified Solid Oxalate Loss Element Solution Solution Precip (%) Precipitate (mg/L) (mg/L) (ppm) La 455 392 467 0.77 % 7.8 Ce 1000 853 1280 0.96 % 18.3 Pr 121 103 170 1.06 % 2.1 Nd 437 374 687 1.18 % 8.7 Sm 78 68.5 125 1.17 % 1.24 Eu 4 3.39 6.3 1.19 ppm 759 Gd 67 55.2 86.9 1.01 ppm 11600 Tb 11 8.73 14.5 1.07 ppm 1840 Dy 62 51.7 86.6 1.07 ppm 10600 Ho 12 9.99 16.8 1.08 ppm 2020 Er 33 27.4 49.9 1.17 ppm 5430 Tm 5 3.71 7.3 1.26 ppm 735 Yb 25 20.9 49.2 1.5 ppm 4240 Lu 3 2.52 5.7 1.45 ppm 499 Y 295 255 440 1.12 ppm 50763 U 4 2.59 78.2 16.4 ppm 5.5 Th 32 1.32 2020 90.9 ppm 282 LREO 44.7% HREO+Y 10.78% TREO+Y 55.48% 17
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