Searchlight Announces Non-Brokered Private Placement

Group 1 - Searchlight Resources Inc. announces a non-brokered private placement financing of up to 14,000,000 Units at a price of $0.055 per unit, each unit consisting of one common share and one full purchase warrant [1] - Each warrant allows the holder to purchase one common share at $0.10 per share for a period of 4 years from the date of issue [1] - The gross proceeds of up to $770,000 from the Offering will be used for exploration expenditures on mineral properties and for general working capital [2] Group 2 - The closing of the proposed Offering is subject to conditions including necessary corporate and regulatory approvals, particularly from the TSX Venture Exchange [3] - Finders fees may be payable in connection with this private placement, and all securities issued will be subject to a four-month hold period from the date of closing [3]