Searchlight Enters into Sale Agreement of Kulyk Lake and Daly Lake Projects to Monazite Metals Corp.

Core Viewpoint - Searchlight Resources Inc. has entered into an agreement to sell its Kulyk Lake and Daly Lake projects to Monazite Metals Corp, allowing the company to focus on its gold exploration projects [1][2]. Group 1: Agreement Details - The MMC Agreement is an arms-length transaction with Monazite Metals Corp, a private British Columbia corporation [2]. - The total compensation for the sale includes $180,000 in cash, 10 million shares of Monazite Metals, a 1% Net Smelter Royalty, and potential additional payments of $300,000 based on drilling results [12]. - The cash payment of $180,000 will be made upon closing, and the Net Smelter Royalty can be bought out by Monazite for $1,000,000 at any time [12]. Group 2: Company Focus and Strategy - Following the sale, Searchlight will concentrate its exploration efforts on its flagship Robinson Creek Gold project, which is 100% owned by the company [2]. - The company is planning a 2,000-meter drill program for the Robinson Creek Gold project [2]. Group 3: Management Changes - Jason Powell has been appointed as the Manager of Corporate Development, bringing over 15 years of experience in investor engagement and strategic growth in the mining sector [3][4]. - 51 Media Ltd. will assist in increasing awareness of Searchlight's activities in the financial community, receiving a monthly fee of $5,000 for their services [6]. Group 4: Company Overview - Searchlight Resources Inc. is a Canadian mineral exploration and development company focused on Saskatchewan, recognized as a top mining investment location by the Fraser Institute [8]. - The company's exploration focus includes gold, copper, and other critical metals, emphasizing projects with nearby infrastructure [8].