Searchlight Resources Begins Field Work on Rare Earth and Uranium Targets on Kulyk Lake Exploration Project
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
June 23, 2022
Searchlight Resources Begins Field Work
on Rare Earth and Uranium Targets on
Kulyk Lake Exploration Project
Vancouver, British Columbia, June 23, 2022 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV: SCLT, US: CNYCF, FSE:2CC2) is pleased to announce the start of field work on
the Company’s Kulyk Lake Rare Earth Element (“REE”) project, located approximately 165 km north
of La Ronge, Saskatchewan, and 65 km south of the Key Lake Uranium Mine.
Highlights
• Searchlight has been granted a permit for surface exploration at Kulyk Lake
• Field work follow-up of September 2021 radiometric survey
• Prospecting and grid sampling planned on previously unknown uranium zone
• Prospecting and grid sampling planned for 3-km Thorium / Rare Earth zone
On June 13, Searchlight was granted a Crown Resource Land Work Authorization by the
Saskatchewan Ministry of the Environment, and on June 21 began preliminary field work on the Kulyk
Lake Rare Earth and Uranium Project. The work will focus on the results of the radiometric survey
completed in September 2021, which outlined significant new thorium and uranium targets (see press
release https://searchlightresources.com/news/2021/searchlight-resources-defines-new-rare-earth-
and-uranium-targets-on-kulyk-lake-exploration-project/)
“The focus of this phase of exploration will be to ground-truth two excellent, large radiometric targets,
one of thorium and one of uranium”, stated Stephen Wallace, CEO.
The planned field work will focus on prospecting and grid sampling of the previously unknown uranium
target and the 3-km long thorium anomaly outlined by the radiometric survey (Map 1). Searchlight
uses thorium as a pathfinder for rare earth elements in the mineral monazite, which is the principal
mineral in the known Kulyk Lake REE showing.
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
The highest thorium value from the 2021 radiometric survey was located over the known Kulyk Lake
REE trenches (Map 2), which yielded historical assays of 56.18% Total Rare Earth Oxides.
Additionally, the radiometric survey identified the Kulyk Lake target as part of a larger anomalous
thorium zone, up to 6 kilometres in length. The initial exploration plan is to prospect the southern half
of the zone to the west of Kulyk Lake.
In addition, the geological team will collect monazite samples from the historical Kulyk Lake REE
trenches. These samples will be used for detailed chemical analysis, petrographic studies and
preliminary metallurgical testing.
Uranium results from the 2021 radiometric survey identified a significant, previously unknown uranium
target (Map 3), as well as pinpointing known uranium showings, including the Eldorado showing with
historical assays of 0.785 % U3O8. The newly identified anomalous uranium zone had multiple high
values including the highest uranium value of this survey. The June 2022 exploration plan in this area
is initial prospecting of the cluster of high values, followed by grid scintillometer survey and rock
sampling.
Map 1. Overview of field work areas for Rare Earth and Uranium prospecting, Kulyk Lake Project,
June 2022
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Map 2. Field work area for Rare Earth Elements prospecting based on Thorium (ppm) anomalies,
Kulyk Lake Project, June 2022
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Map 3. Field work area for Uranium prospecting based on Uranium (ppm) anomalies,
Kulyk Lake Project, June 2022
About Kulyk Lake
The 37 Kulyk Lake claims were all acquired by staking and are 100% held by Searchlight Resources
with no royalties. The claims cover an area of 346.7 square kilometres.
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 Rare Earth
Elements, uranium, battery mine rals and gold throughout the province. Searchlight holds over 1,395
square kilometres of claims in Saskatchewan.
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 current
estimates, beliefs, intentions and expectations. They are not gu arantees 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 incl ude, 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
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