Mr. Stephen Wallace reports

SEARCHLIGHT BEGINS AIRBORNE SURVEYS ON THE MARI LAKE GOLD PROJECT IN SASKATCHEWAN

High-resolution airborne magnetic and radiometric surveys covering all of Searchlight Resources Inc.'s Mari Lake claims are under way. The claims are located approximately 30 kilometres north of Creighton, Sask., and Flin Flon, Man., and 40 kilometres north of the company's Bootleg Lake gold project.

Searchlight has contracted Special Projects of Calgary to carry out the airborne magnetic and radiometric surveys on the Mari Lake gold project. The company has recently expanded the Mari Lake claims to 43.1 square kilometres from the original 4.8 square kilometres. The surveys will cover the entire claim block, focusing on the Kississing River shear zone, which hosts the known high-grade gold occurrences.

"Despite the encouraging results from prior surface sampling and diamond drilling, Mari Lake is still relatively unexplored as drilling was done to a vertical depth of less than 50 metres, and no geophysics was done to find additional gold-bearing structures. Searchlight's current exploration program will address some of these limitations," stated Stephen Wallace, Searchlight's chief executive officer.

Searchlight has contracted Tuzo GeoSurveys to carry out the UAV (unmanned aerial vehicle) photogrammetry and lidar survey at Robinson Creek, in preparation for the planned diamond drilling program to verify historical results.

Mari Lake gold project highlights

Mari Lake is a high-grade gold project with the following highlights from historical exploration completed between 1945 and 1986:

• 22 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 per ton gold over 2.8 feet and 0.52 ounce per ton gold over 2.5 feet, with visible gold;
• Trench samples of 1.28 ounces per ton gold over 10 feet and 0.50 ounce per ton gold over 6.0 feet, with visible gold;
• Pit samples of 2.98 ounces per ton gold and 1.41 ounces per ton gold;
• Grab samples of 2.48 ounces per ton gold and 1.1 ounces per ton gold, with visible gold.

The claims are located six kilometres from the hydroelectric power line between Flin Flon and the Island Falls Hydroelectric Station. The claims can be accessed by air from Flin Flon or by bush road to Mari Lake and then by boat to the project area.

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.

Searchlight is pursuing a business plan to develop a consolidated gold mining operation centred 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 high-grade property.

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