Mr. Stephen Wallace reports

SEARCHLIGHT RESOURCES ADDS MARI LAKE HIGH GRADE GOLD PROJECT TO ITS SASKATCHEWAN GOLD PORTFOLIO

Searchlight Resources Inc. has staked the Mari Lake high-grade gold project located approximately 30 kilometres north of Creighton, Sask., and Flin Flon, Man., and 40 kilometres north of the company's Bootleg Lake gold project.

Historical data highlights

• Twenty-two drill holes, 39 trenches and several pits. Multiple reports of visible gold.
• Gold mineralized structure over 700 metres in length.
• Drill hole samples of 0.85 ounce/ton Au (gold) over 2.8 feet and 0.52 oz/ton Au over 2.5 feet, with visible gold.
• Trench samples of 1.28 oz/ton Au over 10 feet and 0.50 oz/ton Au over 6.0 feet, with visible gold.
• Pit samples of 2.98 oz/ton Au and 1.41 oz/ton Au.
• Grab samples of 2.48 oz/ton Au and 1.1 oz/ton Au, with visible gold.
• Located 30 km north of Creighton, Sask., and Flin Flon, Man.

The Mari Lake project is Searchlight's third high-grade project in the Flin Flon mining district, along with the Bootleg Lake and Robinson Creek gold projects. The company has initiated plans to reopen the underground ramp at the past-producing Rio gold mine, one of the three past-producing gold mines on the Bootleg Lake claims.

The Mari Lake project is a high-grade gold project with 22 historical diamond drill holes, 39 trenches and several pits completed between 1945 and 1986. Assessment files report a mineralized structure 700 metres in length, with high-grade results up to 2.98 oz/ton gold, and multiple reports of visible gold.

"With the addition of the Mari Lake project, Searchlight now holds three high-grade gold targets within the Flin Flon mining district which has significant geological potential, but limited gold exploration," stated Stephen Wallace, Searchlight's chief executive officer. "With the current gold prices, the Mari Lake project is one more high-grade, high-value gold project that Searchlight holds in Saskatchewan."

The Mari Lake claim covers 4.7 square kilometres and was acquired through cost-effective staking. Searchlight holds a 100-per-cent interest in the claim with no royalties. The claim is located six km from the hydroelectric power line between Flin Flon and the Island Falls hydroelectric station. The project can be accessed by air from Flin Flon or by bush road to Mari Lake, and then by boat to the project area.

"Searchlight is pursuing a business plan to develop a consolidated gold mining operation centered on its Rio gold mine, a historic brownfield site, with upside potential from its recently drill-permitted Robinson Creek property, the new zones discovered at the Henning Maloney mine and now the Mari Lake old property," stated Alf Stewart, Searchlight's chairman.

Searchlight has compiled a geology, mineralization and exploration history of the Mari Lake project, which is available on the Searchlight website.

Disclaimer: Management cautions that the presented drill, trench and grab sample results are historical in nature, and Searchlight has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the previous exploration work to verify the results. Searchlight considers these sample results relevant, as the company uses historical reports and sample results to evaluate and plan future exploration programs. All drill intercepts are drill-indicated lengths. Insufficient technical information exists to demonstrate the true widths of these intersections. The technical information is derived from public documents available through the Saskatchewan Government Ministry of Energy and Resources.

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 gold in Saskatchewan, Canada, which has been ranked as one of the top 10 locations in the world for mining investment by the Fraser Institute. The company is currently planning the reopening of the Rio gold mine located five kilometres from Creighton, Sask., and Flin Flon, Man.

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