Mr. Stephen Wallace reports

SEARCHLIGHT RESOURCES STAKES MILNER LAKE URANIUM PROJECT IN SASKATCHEWAN

Searchlight Resources Inc. has staked the Milner Lake uranium project, located approximately five kilometres west of Missinipe, and 60 kilometres north of La Ronge, Sask.

Searchlight has staked a 446.7-hectare claim located five km west of Missinipe and Highway 102. The claim covers two areas of known uranium mineralization; the MUS claim No. 5 uranium showing, and the KAZ claim No. 8 uranium-fluorite showing. These showings are among multiple historic uranium targets located south of the Athabasca basin. The staking is part of the company's systematic research and evaluation of past exploration projects in Saskatchewan.

"Milner Lake, with samples up to 1.39 per cent uranium oxide, is a Searchlight-style exploration target, significant exploration potential, on surface, close to infrastructure and acquired by staking," stated Stephen Wallace, PGeo, president and chief executive officer of Searchlight.

KAZ claim No. 8 U-Fl showing

Uranium staining was noted 0.9 mile (1.4 km) northeast of the north end of Milner Lake on the KAZ No. 8 claim. The showing consists of uranium mineralization, mainly uranophane and autunite, which occurs at the contact of granitic gneiss and pegmatite, over a 50-foot-by-150-foot (15.2-metre-by-45.7-metre) area.

Seventeen channel samples from a 50 ft (15.2 m) trench yielded assays ranging from 0.003 per cent to 0.500 per cent U3O8 (triuranium octoxide), averaging 0.072 per cent U3O8. A secondary side pit exposed a heavy concentration of uranium minerals associated with veinlets of fluorite. Five samples from this pit included assays of 0.60 per cent, 1.17 per cent and 1.39 per cent U3O8. One sample submitted for spectrochemical analysis yielded 1.38 per cent U3O8.

MUS claim No. 5 U showing

The showing consists of a pegmatite outcrop exposed over 200 by 60 ft (61 by 18.3 m), approximately. Uranium mineralization, primarily uranophane and autunite, occurs on the east side of a shear which extends through the centre of the ridge, and is highest where biotite mica is abundant. Grab samples from the biotitic and feldspathic phases returned 0.70 per cent and 0.127 per cent U3O8, respectively. In addition, 26 channel samples taken at five ft (1.5 m) intervals along an 80-foot trench (24.4 m) yielded assays ranging from 0.003 per cent to 0.126 per cent U3O8, averaging 0.022 per cent U3O8.

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. Exploration focus is on uranium, rare earths, battery minerals and gold throughout the province, concentrating on projects with close infrastructure.

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