Mr. Stephen Wallace reports

SURVEY HIGHLIGHTS MULTIPLE NEW RARE EARTH AND URANIUM TARGETSSURVEY EXPANDS KNOWN RARE EARTH AND URANIUM SHOWINGS800 M X 450 M THORIUM ZONE HIGHLIGHTS SIGNIFICANT RARE EARTH POTENTIAL

Searchlight Resources Inc. has released the initial results of the airborne radiometric survey of the company's Daly Lake uranium and rare earth element (REE) project, located approximately 150 kilometres north of La Ronge, Sask., and 25 km south of the company's Kulyk Lake uranium and rare earth project.

Special Projects Inc. of Calgary completed 57.5 square kilometres of survey on the Daly Lake exploration target, located south of the adjoining Kulyk Lake property which hosts multiple rare earth element (REE), thorium and uranium occurrences. Preliminary radiometric results on Daly Lake have outlined significant new thorium and uranium targets. Additionally, the results have confirmed and expanded several historical REE, uranium and thorium showings. Searchlight uses thorium as a pathfinder for monazite, a principal REE mineral. (See maps in separate disclosures.)

The results include a large thorium zone measuring 800 metres by 450 m, which covers the Jon showings that comprise multiple REE occurrences with over 1 per cent total rare earth elements (TREE), including sample 99766 with 30,769 parts per million (3.08 per cent) TREE and sample 99812 with 29,466 ppm (2.95 per cent) TREE (SMDI No. 5,184).

"These results show the potential for significant rare earth targets at Daly Lake, extending the multiple REE and uranium targets over a 12 km strike length," stated Stephen Wallace, chief executive officer of Searchlight. "These results highlight Saskatchewan as a strong rare earth source within Canada. Daly Lake and other Searchlight REE projects could potentially provide rare earth feed for the Saskatchewan Resource Council rare earth processing facility in Saskatoon."

The Kulyk Lake and Daly Lake claims cover a combined area of 395.5 square kilometres, and host over 40 REE, thorium and uranium occurrences along a 30 km long zone.

Total rare earth elements (TREE): Ce+Dy+Er+Eu+Gd+Ho+La+Nd+Pr+Sm+Tb+Yb

Qualified person

Mr. Wallace, PGeo, is Searchlight's qualified person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.

About Searchlight Resources Inc.

Searchlight Resources is a Canadian mineral exploration and development company focused on Saskatchewan, Canada, which has been ranked as the top location for mining investment in Canada by the Fraser Institute. The company's exploration model of project generation coupled with targeted exploration, focuses on uranium, rare earths, copper, nickel and gold throughout the province.

We seek Safe Harbor.