Search Minerals Announces Correction to Private Placement

TSXV: SMY

1320 – 885 West Georgia Street Vancouver, BC, V6C 3E8

Phone:  (604) 688‐6180 Fax:        (604) 682‐7317

SEARCH MINERALS ANNOUNCES CORRECTION TO PRIVATE PLACEMENT

VANCOUVER, April 26, 2010 – Search Minerals Inc. (“Search” or the “Company”) (TSXV: SMY) announced on April 23, 2010 a non-brokered private placement (the “Private Placement”). There was a typographical error in the news release with respect to the description of the units to be offered by the Company pursuant to the Private Placement. Each non flow-through unit is comprised of one non flow-through common share and one common share purchase warrant and each flow-through unit is comprised of one flow-through common share and one common share purchase warrant.

Each common share purchase warrant will be exercisable for one non flow-through common share of the Company for a period of 24 months from closing at an exercise price of $0.75.

About Search Minerals Inc.

Search Minerals Inc. and its wholly-owned subsidiary, Alterra Resources Inc., are Canadian resource companies focused on the acquisition and exploration of a variety of rare earth element, base metals, gold and uranium projects. The land holdings of the companies are exclusively in the Province of Newfoundland and Labrador.

For further information please contact:

Search Minerals Inc. Tel: 604-688-6180 Jim Clucas, President Fax: 604-682-7317 1320-885 West Georgia Street Email: [email protected] Vancouver, B.C. V6C 3E8

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.

{3993-001\00358299.DOC.2}