VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2011) - Search Minerals Inc. (TSX VENTURE:SMY) ("Search" or the "Company") is pleased to announce that, effective today, Roberto Giannetti da Fonseca and Jonathan Sherman will be joining the Company's board of directors.
A brief biographies of the newly elected directors are as follows:
Roberto Giannetti da Fonseca, resides in Brazil and is CEO of Kaduna Consulting Group, which provides extensive service as a business advisor to more than 50 Brazilian and multinational companies. He is also Executive Director of International Affairs and Foreign Trade (FIESP), a Sao Paulo State business industrial assocation with more than 130,000 associates. From 2000-2002, he was former Secretary of Foreign Trade, Brazilian Federal Government.
Jonathan Sherman is the President of TrueCore Consumer Partners, a private equity and consulting firm based in Toronto. Jonathan has worked as a private equity investment professional since 1999, and has been involved in the sourcing and completion of investment opportunities, and the development and implementation of corporate strategic plans, since that time.
Also, the Company wishes to announce that, effective today, Tony Ker has resigned from the board of directors of the Company. The Company wishes to thank Mr. Ker for his time as a director and wishes him well in his future endeavours.
The Company also announces that it has granted incentive stock options to certain directors, officers, employees and consultants of the Company for the purchase of an aggregate of 1,255,000 common shares of the Company for a period of five years at a price of $0.485 per share. These options have been granted pursuant to the Company's Stock Option Plan.
About Search Minerals Inc.
Search Minerals Inc (TSX VENTURE:SMY) has a strong and dedicated management team with outstanding capabilities in separate but related mining activities, any of which has the potential to generate significant shareholder value. Search's mineral exploration team is led by Vice President Exploration Dr. Randy Miller. Dr. Miller is responsible for directing the current exploration programs on Search's large land position in Labrador. Search also has a technology arm headed up by Dr. David Dreisinger, Chair of Hydrometallurgy at the University of British Columbia in Vancouver, Canada, and a consultant to several major international mining companies. Search's business strategy is to fund new ideas or concepts in the mineral exploration or metallurgical fields that have low initial costs and high potential.
Caution Regarding Forward-looking Statements
In this document and in other documents filed with Canadian regulatory authorities or in other communications, the Company may from time to time make written or oral forward-looking statements within the meaning of applicable securities legislation, including statements regarding the Company's business plans and financial objectives. These statements typically use words such as prospects, believe, estimate, forecast, project, expect, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the forecasts, projections and other forward-looking statements will not be achieved or will prove inaccurate. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. The Company cautions readers against placing undue reliance on forward-looking statements when making decisions, as the actual results could differ considerably from the opinions, plans, objectives, expectations, forecasts, estimates and intentions expressed in such forward-looking statements due to various material factors. Among other things, these factors include fiscal and economic policies, changes in interest and foreign exchange rates, and general economic conditions, legislative and regulatory developments, competition and access to capital. The Company further cautions that the foregoing list of factors is not exhaustive. For more information on the risks, uncertainties and assumptions that would cause the Company's actual results to differ from current expectations, please also refer to the Company's public filings available at www.sedar.com. The Company does not undertake to update any forward-looking statements, whether oral or written, made by itself or on its behalf, except to the extent required by securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility of the adequacy or accuracy of this release.
Search Minerals Inc.
President and CEO