Announcement • Jul 21

Searchlight Resources Begins High-Resolution Airborne Magnetic And Radiometric Surveys On Mari Lake Gold Project Claims

Searchlight Resources Inc. had high-resolution airborne magnetic and radiometric surveys covering all Mari Lake claims underway. The claims are located approximately 30 km north of Creighton, Saskatchewan and Flin Flon, Manitoba, and 40 km 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 sq km from the original 4.8 sq km. The surveys will cover the entire claim block, focusing on the Kississing River Shear Zone which hosts the known high-grade gold occurrences. Searchlight has contracted TUZO GeoSurveys to carry out the UAV photogrammetry and Lidar survey at Robinson Creek, in preparation for the planned diamond drilling program to verify historical results. Mari Lake is a high-grade gold project with the following highlights from historical exploration completed between 1945 and 1986: 22 drillholes, 39 trenches and several pits. Multiple reports of visible gold. Gold mineralized structure over 700 metres in length. Drill hole samples of 0.85 oz/ton Au 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. The claims are located 6 km 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. 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. Stephen Wallace, P.Geo., 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.

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Searchlight Resources Begins High-Resolution Airborne Magnetic And Radiometric Surveys On Mari Lake Gold Project Claims

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