Searchlight Resources Acquires Robinson Creek High-Grade Gold Project
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
May 19, 2021
Searchlight Resources Acquires
Robinson Creek High-Grade Gold Project
Vancouver, British Columbia, May 1 9, 20 21 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV: SCLT, US: CNYCF, FSE:2CC2) has executed a formal option agreement to acquire
100% interest in the Robinson Creek Gold Project located approximately 15 kilometres west of
Creighton, Saskatchewan, in the historic Flin Flon mining camp.
Highlights
• Over 75 historical drill holes
• Multiple historical high grade gold intersections
The Robinson Creek Gold Project consists of 7 claim blocks covering 1.84 square kilometres located
approximately 15 kilometres northwest of Searchlight’s Bootleg Lake claims (Map 1). The Robinson
Creek target area lies within a structurally controlled mesothermal lode gold system, with considerable
historical exploration which includes geologic mapping, trenching, soil surveys, airborne and ground
geophysical surveys, and over 75 diamond drill holes.
“Searchlight is pleased with this opportunity to acquire a high-quality gold project close to the Company’s
existing Bootleg Lake project and Flin Flon mining infrastructure,” stated Alf Stewart, Chairman. “It is a
natural fit for the Company in what we believe to be a neglected Canadian gold camp”.
The Robinson Creek target comprises three gold zones - the Vein, Bleiler, and Quartz Zones - over a
strike length of approximately 1 km. Exploration in the area began in 1915. In 1946, Hudson Bay
Exploration carried out initial drilling of 15 holes in the Vein and Quartz zones. From 1970 to 1978,
additional trenching in the Quartz Zone was completed, with trench samples returning gold assays
ranging from 0.01 to 1.5 oz/ton.
In the 1980s, Suneva and the Saskatchewan Mineral Development Corporation (“SMDC”) joint venture
completed over 60 drill holes, with exploration ending in 1989 during a period of low gold prices. Selected
highlights of the drilling are presented in Table 1. Mineralization is open to depth , and there is limited
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
drill testing on multiple additional gold showings. No drilling or surface exploration has been recorded
on the claims since 1990, though St. Eugene Mining completed a regional heliborne VTEM geophysical
survey in 2011.
“Robinson Creek was last explored during a period when high-grade narrow intersections were the focus
of exploration. The Searchlight approach is to explore for both high-grade underground and lower grade
open pit targets on every gold project”, stated Stephen Wallace, CEO. “Our initial review of data shows
a 55 m section of 2.50 g/t gold in drill hole 81-1, previously presented as short high-grade intersections.”
Map 1: Location Map of Robinson Creek Claims
Table 1: Selected Robinson Creek Drill Hole Intersections
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Drill Hole From To Intersection oz/t g/t Zone
metre metre metre Gold Gold
1946 DDH
HB DDH 06 137.22 138.68 1.46 1.40 48.00 Vein
HB DDH 07 49.19 49.59 0.40 1.06 36.34 Quartz
HB DDH 07 61.57 62.48 0.91 0.50 17.14 Quartz
HB DDH 10 60.20 60.66 0.46 1.08 37.03 Quartz
HB DDH 12 100.04 100.77 0.73 0.82 28.11 Quartz
HB DDH 14 130.64 131.12 0.49 0.52 17.83 Quartz
1980-1989 DDH
81-1 22.00 23.80 1.80 0.82 28.11 Quartz
81-1 29.80 32.60 2.80 0.16 5.49 Quartz
81-1 61.10 62.80 1.70 0.38 13.03 Quartz
81-2 44.80 46.20 1.40 0.24 8.23 Quartz
81-2 83.25 84.45 1.20 0.32 10.97 Quartz
81-7 24.05 24.85 0.80 0.55 18.86 Bleiler
81-9 89.40 90.30 0.90 0.24 8.23 Quartz
RO3-1 88.50 89.00 0.50 0.10 3.53 Quartz
RO3-1 134.82 135.29 0.47 0.28 9.74 Quartz
RO3-1 145.38 146.42 1.04 0.13 4.56 Quartz
RO3-2 140.76 141.42 0.66 0.10 3.46 Quartz
RO3-2 162.75 163.20 0.45 0.38 13.03 Quartz
RO3-5 81.64 82.63 0.99 0.17 5.83 Vein
RO3-6 85.95 86.46 0.51 0.06 1.92 Bleiler
RO3-6 89.46 90.45 0.99 0.06 1.99 Bleiler
RO4-1 41.00 44.00 3.00 0.25 8.50 Vein
RO4-1 44.00 47.00 3.00 0.20 6.93 Vein
RO4-2 65.00 68.00 3.00 0.19 6.34 Vein
RO4-2 74.00 77.00 3.00 0.33 11.18 Vein
RO7-1 75.30 76.30 1.00 0.07 2.43 Quartz
RO7-2 113.80 114.80 1.00 0.21 7.27 Vein
RO7-2 114.80 115.80 1.00 0.32 11.11 Vein
RO7-2 115.80 116.80 1.00 0.04 1.23 Vein
RO7-2 122.40 124.40 2.00 0.05 1.61 Vein
RO7-4 29.00 29.50 0.50 0.22 7.44 Vein (V.G.)
RO7-4 111.25 112.50 1.25 0.70 24.07 Vein (V.G.)
RO9-32 119.70 120.20 0.50 0.11 3.77 Vein
RO9-34 25.90 27.10 1.20 0.04 1.41 Quartz
RO9-35 146.50 147.00 0.50 0.09 3.15 Vein
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Management cautions that the presented drill 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 in order 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.
Option Agreement Terms
Timing Cash
(C$)
Shares(2) Exploration
Expenditures (C$)
Execution of the Agreement $5,000
Paid
0 0
On or before 10 business days after
receipt of Exchange approval
$20,000 500,000 0
On or before the Year 1 anniversary of
Exchange Approval
$25,000 500,000 $25,000
On or before the Year 2 anniversary of
Exchange Approval
$25,000 500,000 An additional $50,000
On or before the Year 3 anniversary of
Exchange Approval
$25,000 500,000
On or before the Year 4 anniversary of
Exchange Approval
An additional
$425,000
TOTAL $100,000 2,000,000 $500,000
Under the terms of the Option Agreement, Searchlight will pay a 2.0 % Net Smelter Return royalty (the
"NSR") to the vendor. The Company will have the right, at any time, to purchase 1.5 % of the 2.0%
NSR for $2,250,000.
The Option Agreement and the transactions contemplated are subject to acceptance of the TSXV.
Qualified Person
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.
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
About Searchlight Resources Inc.
Searchlight Resources Inc. (TSXV:SCLT, US:CNYCF, FSE:2CC2) is a Canadian mineral exploration
and development company focused on Saskatchewan, Canada, which has been ranked as the top
location for mining investment in Canada by the Fraser Institute. Exploration focus is on gold and battery
minerals throughout the Province, concentrating on projects with road access.
Searchlight holds a 427.6 square kilometre land position within the gold and base metal rich Flin Flon -
Snow Lake Greenstone Belt. The Company is currently advancing its Bootleg Lake Gold Project which
hosts four past producing high-grade gold mines, located in Saskatchewan, less than 10 km from Flin
Flon, Manitoba.
On behalf of the Board of Directors,
“Stephen Wallace”
Stephen Wallace, President, CEO and Director
SEARCHLIGHT RESOURCES INC.
For further information, visit the Company’s website at www.searchlightresources.com or
contact:
Searchlight Resources Inc.
Alf Stewart, Chairman
(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 date of this news release. These statements reflect management’s curre nt
estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The
Company cautions that all forward -looking statements 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 comply with environmental and governmental regulations.
Accordingly, actual and future events, conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
required under applicable securities legislation, the Company un dertakes 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 EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.