Mr. Stephen Wallace reports

SEARCHLIGHT RESOURCES STAKES BONNIE LAKE URANIUM CLAIMS IN SASKATCHEWAN

Searchlight Resources Inc. has staked two mineral claims in the eastern Wollaston domain in Northern Saskatchewan, approximately 70 kilometres northwest of the McClean Lake uranium mine.

The two claims cover 37.3 square kilometres and host multiple known uranium showings, including the Bonnie Lake showings. The project is located in the Wollaston geological domain, a prime uranium exploration area that underlies the eastern Athabasca basin and hosts some of the highest-grade operating uranium mines in the world.

Exploration in 1980 resulted in the discovery of an area of extremely high radioactivity in pegmatite-intruded calc-silicate marble near Bonnie Lake, during helicopter-supported reconnaissance mapping. The highest radioactivity was confined to the coarse pegmatitic phase and was most intense over an area of 150 metres by 100 metres. Radioactivity from 58 showings ranged from 1,000 counts per second to 28,000 counts per second. Assays ranged up to 0.183 per cent U3O8 (triuranium octoxide) and 1.30 per cent ThO2 (thorium dioxide). The radioactive mineral was inferred to be uranothorite.

"The Bonnie Lake project aligns with Searchlight's staking of high-value surface uranium targets in the Wollaston domain. This new project fits into the company's uranium portfolio, which includes the Duddridge Lake uranium deposit and the Kulyk Lake uranium/rare earth project," stated Stephen Wallace, chief executive officer of Searchlight.

Qualified person

Stephen 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.

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