Searchlight Resources Announces Proposed Share Consolidation

Company Overview - Searchlight Resources Inc. is a Canadian mineral exploration and development company focused on Saskatchewan, Canada, which is recognized as the top location for mining investment in Canada by the Fraser Institute [4] - The company's exploration focus includes battery minerals and gold, concentrating on projects with nearby infrastructure [4] Share Consolidation Announcement - The company intends to consolidate its issued and outstanding common shares at a ratio of five pre-consolidated shares to one post-consolidation share [1] - Currently, there are 146,546,134 common shares issued, and upon completion of the consolidation, the company anticipates there will be 29,309,227 common shares issued and outstanding [2] Purpose of Consolidation - The purpose of the consolidation is to facilitate the company's ability to attract future financings, generate greater investor interest, and improve trading liquidity [2] - The consolidation does not require shareholder approval according to the company's Articles and is subject to acceptance from the TSX-V [3]