Search Minerals Inc. (TSXV:SMY) and Alterra Resources Inc. provided an update in regards to the REE properties in Labrador. Included in this property and exploration update was the status of the Company's option and joint venture agreements. The Company also included the expected release date of a new Preliminary Economic Assessment for the Foxtrot REE Deposit in the update, along with plans for the 2013 field season exploration program.