Mr. Stephen Wallace reports

SEARCHLIGHT ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Searchlight Resources Inc. has arranged a non-brokered private placement financing of up to 11 million units consisting of one common share and one full purchase warrant at a price of 10 cents per unit. Each warrant will entitle the holder to purchase one common share at 15 cents per share for a period of three years from the date of issue.

Searchlight intends to use the gross proceeds of up to $1.1-million of the offering to finance exploration expenditures on its portfolio of mineral properties and for general working capital.

Closing of the proposed offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the TSX Venture Exchange. Finders' fees may be payable in connection with this private placement. All the securities issuable will be subject to a four-month hold period from the date of closing.

We seek Safe Harbor.