Searchlight Announces Private Placement Financing
TSXV: SRCH
Suite 408 – 1199 West Pender Street • Vancouver, B.C. • V6E 2R1
TEL (604) 331-9326 • FAX (604) 684-9365
Searchlight Announces Private Placement Financing
Vancouver, British Columbia, December 1 1th, 2018 - Searchlight Resources Inc.
(“Searchlight” or the “Company”) (TSX -V: SRCH) is pleased to announce that it intends to
complete a priva te placement of flow -through and non-flow-through units (the
“Private Placement”).
The Company intends to issue up to 5,000,000 non-flow-through units at a price of $0.05 per
unit (the “NFT Units”) for aggregate proceeds of up to $ 250,000. Each NFT Unit will consist of
one non-flow-through common share and one non-flow-through common share purchase
warrant (the “ NFT Warrants ”). Each NFT Warrant will entitle the holder to purchase one
additional non-flow-through common share of the Company at an exercise price of $0.0 6 per
common share for a period of 2 years from the date of issue.
The Compan y also intends to issue up to 5,000,000 flow-through (“FT”) shares at a price of
$0.05 per FT share for aggregate proceeds of up to $ 250,000. The FT Shares will entitle the
holder to receive the tax benefits applicable to flow -through shares, in accordance with
provisions of the Income Tax Act (Canada).
Searchlight intends to use the proceeds of up to $ 500,000 of the Offering to fund exploration
expenditures on its portfolio of mineral proper ties and for general working capital.
Closing of the proposed Offering is subject to a numb er of conditions, including receipt of all
necessary corporate and regulatory approvals, including approval from the TSX Venture
Exchange. Finders fees may be payabl e in connection with this private placement. All the
securities issuable will be subject to a four-month hold period from the date of closing.
About Searchlight Resources Inc.
Searchlight is a mineral exploration and development company listed on the TSXV. The
Company is active with mineral exploration projects in Saskatchew an, Ontario and Nevada,
which are consistently ranked by the Fr aser Institute as three of the top seven jurisdictions in
the world for mining investment. The Company holds a portfolio of gold, cobalt and base metal
projects from grassroots stage to advanced exploration and NI 43-101 resource development.
Saskatchewan, Canada – Gold and Base Metals
Bootleg Lake consists of 16,900 hectares of claims in Saskatchewan covering prospective
areas of the Flin Flon Greenstone belt. Exploration is being carried out at the past - producing
Newcor, Rio (Bootleg) and Henning Malon ey Gold mines located approximately 5 kilometres
from Creighton Saskatchewan , and less than 10 kilometres from the 777 mine in Flin Flon,
Manitoba, owned by Hudbay Minerals Inc. (“Hudbay”) (TSX: HBM).
In addition, Bootleg Lake has claims with potential for Volcanogenic Massive Sulphide (“VMS”)
base metal mineralization adjacent to Hudbay’s claims that host the currently producing 777
base metal and gold mine in Flin Flon , and four past-producing base metal mines; Flexar, Birch
Lake, Amisk and Coronation.
Ontario, Canada – Copper, Cobalt, Nickel & Gold
1) The Munro Warden project is an early stage exploration prospect targeting VMS copper,
nickel and cobalt within the Kidd- Munro assemblage of the Abitibi Greenstone Belt. The
project covers 1,100 hectares , including 9 mining lease and 11 claim blocks located
approximately 90 kilometres east of Timmins, Ontario.
2) The Cameron projec t is a grassroots cobalt, gold exploration prospect located 25
kilometres southwest of Cobalt, Ontario with in the highly prospecti ve Cobalt
Embayment.
Nevada, USA – Copper
Searchlight’s New York Canyon project hosts two copper deposits in the Walker Lane Structural
Belt located in western Nevada ; t he Long Shot Ridge skarn d eposit with a 2010 NI 43-101
resource estimate and the Copper Queen porphyry deposit drilled by Conco in the 1970’s.
On behalf of the Board of Directors,
“Stephen Wallace”
SEARCHLIGHT RESOURCES INC.
Stephen Wallace, President, CEO and Director
Contact: Searchlight Resources Inc.
Investor Relations
(604) 331-9326
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on
assumptions as of the dat e of this news release . These statements reflect management’s
current estimates, beliefs, intentions and expectations. They are not guarantees of future
performance. The Company cautions that all forward looking sta tements are inherently
uncertain and that actual performance may be affected by a number of material factors, many of
which are beyond the Company’s control. Such factors include, among other things: risks and
uncertainties relating to the Company’s limited operating history and the need to compl y with
environmental and governmental regulations. Accordingly, actual and future events, conditions
and results may differ materially from the e stimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. Except as required under appl icable
securities legislation, the Company undertakes no obligation to publicly update or revise
forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXC HANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.