Searchlight Resources Completes Acquisition of 100% Interest in the Bootleg Lake Gold Property
TSXV : SCLT US : SCLTF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
November 25, 2022
Searchlight Resources Completes Acquisition of
100% Interest in the Bootleg Lake Gold Property
Vancouver, British Columbia, November 25, 2022 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV: SCLT, US: SCLTF) is pleased to announce an agreement with New Moon Minerals
Corp. (New Moon), a private issuer, to acquire the remaining 25% interest and 1% NSR currently held
by New Moon o n the Bootleg Lake Gold property. This property is located near Creighton,
Saskatchewan, Canada, approximately five kilometres southwest of the city of Flin Flon, Manitoba.
In May 2017, Searchlight entered into an option agreement to acquire 75% interest in the Bootleg Lake
property from New Moon , with Searchlight as operator. Searchlight earned the 75% interest during
August, 2021, and the Company is now acquiring the remaining 25% and a 1.0% NSR held by New
Moon. On completion of this transaction, Searchlight will hold 100% of the project, subject to a legacy
1.0% underlying NSR held by a third-party on four of the 20 claims.
The Property originally consisted of four contiguous claims staked in 2009-2010, totalling 867 hectares.
It has grown through staking to the present 20 contiguous claims, totalling 4,988 hectares. The original
core claims are in good standing until 2039-2040. The Property hosts four past-producing gold mines,
including the Bootleg/Rio, Henning-Maloney and Newcor gold mines with historical resource estimates.
In addition, there are a number of additional gold and copper occurrences on the claims.
New Moon is an arms -length party to Searchl ight on the Bootleg Lake gold property , and the full
acquisition by Searchlight is intended to simplify ownership and expedite further exploration. The
Bootleg Lake property is located within the Flin Flon Gold Camp, and Searchlight has consolidated a
significant land position, which includes the Robinson Creek Gold project, in the under-explored but very
productive Archean Flin Flon Greenstone Belt.
“This agreement gives Searchlight 100% ownership of multiple high grade gold targets with secure
ownership until at least 2040. The Bootleg project is minutes from the mining centre of Flin Flon,
providing excellent low-cost exploration infrastructure “, stated Stephen Wallace, Searchlight CEO. “It
is an area which Searchlight believes has great potential, and the Bootleg property , as a brownfields
property with underground workings that can be rehabilitated, is a key holding within the belt.”
TSXV : SCLT US : SCLTF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
To acquire the 25% interest plus 1.0% NSR in the Bootleg Lake Gold property, the Company will issue
6,000,000 shares to New Moon . The agreement is subject to TSX acceptance and approval by New
Moon shareholders. All the securities issued are subject to a four -month hold period from the date of
closing.
About Searchlight Resources Inc.
Searchlight Resources Inc. ( TSXV: SCLT ; US: SCLT) 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 battery minerals and
gold throughout the Province, concentrating on projects with nearby infrastructure.
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, VP Corporate Development
(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 guarantees of futu re 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 othe r 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 estim ates,
beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as
required under applicable 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 EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
TSXV : SCLT US : SCLTF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com