Searchlight Resources Confirms Strong Radioactivity at South Kulyk Lake Uranium Target
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
July 06, 2022
Searchlight Resources Confirms Strong
Radioactivity at South Kulyk Lake Uranium Target
Vancouver, British Columbia, July 06, 2022 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV: SCLT, US: CNYCF, FSE:2CC2) is pleased to announce the Company has
completed the initial prospecting program on the Kulyk Lake Uranium project, located approximately
165 km north of La Ronge, Saskatchewan, and 65 km south of the Key Lake Uranium Mine.
Highlights
• 2021 Anomalous airborne radiometric results verified
• Field scintillometer readings up to 13,000 counts per second
Searchlight Resources has recently completed the initial prospecting program on the Kulyk Lake
Uranium project, designed to confirm a previously unknown uranium target identified by the 2021
airborne radiometric survey (Map 1, [1]).
The field program, completed by Axiom Exploration Group Ltd. (Axiom), has located a zone of strong
surface radioactivity within newly mapped pegmatites on a bedrock ridge southwest of Kulyk Lake
(Map 2). A total of 49 grab samples were collected, along with 84 scintillometer readings. The
scintillometer readings included 47 values over 1,000 counts per second (cps), with values up to
13,000 cps. The grab samples will be submitted to the Saskatchewan Research Council laboratory in
Saskatoon for complete analysis.
“This is an excellent result, with just 3 days of first pass prospecting outlining a radioactive surface
showing of at least 150 m x 50 m, in an area with no previous documented work”, stated Stephen
Wallace, Searchlight’s CEO. “This result, along with the potential rare earth results, give Searchlight
plenty of targets for follow-up exploration”.
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Map 1. Uranium (ppm) results from 2021 airborne radiometric survey
Map 2. Peak counts per second from 2022 ground scintillometer survey
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
About Kulyk Lake
The Kulyk Lake project covers 349 square kilometers of 100%-held staked claims located
approximately 165 km north of La Ronge, Saskatchewan, and 65 km south of the Key Lake Uranium
Mine. Searchlight Resources originally staked the claims based on the Fanta showing, a historically
known occurrence of massive monazite, and the Eldorado uranium showing on the south shore of
Kulyk Lake.
Mineral exploration was previously carried out between 2009 and 2011, primarily on the south shore of
Kulyk Lake. This area, including the Eldorado uranium zone and the Fanta rare earths zone and
immediate surroundings, were systematically mapped and trenched by Terralogic Consultants [2].
Results included 0.785% U3O8 over 1.1 m from sample DFKJR040 at the Eldorado showing, and
0.793% U3O8 in a sample located near the Yellow Brick Road showing, named for the yellow uranium
staining on surface.
In September 2021, Searchlight Resources completed an airborne radiometric survey which outlined
significant new thorium and uranium targets [3].
About Pegmatites
An exceptionally coarse-grained igneous rock with interlocking crystals, usually found as irregular
dikes, lenses, or veins, especially at the margins of batholiths. Most grains are at least 1 cm in
diameter. Although pegmatites have gross compositions similar to other rock types, their composition
is generally that of granite. The composition may be simple or complex and may include rare minerals
rich in such elements as lithium, beryllium, cesium, fluorine, niobium, tantalum, uranium, and rare
earth elements. Pegmatites represent the last and most hydrous portion of a magma to crystallize, and
hence contain high concentrations of minerals present only in trace amounts in granitic rocks.
Cautionary Note
Natural gamma radiation in surface prospecting reported in this news release was measured in counts
per second (cps) using a handheld RS-125/230 gamma-ray scintillometer. The reader is cautioned
that Searchlight uses scintillometer readings as a preliminary indication of the presence of radioactive
materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly
to quantify or qualify uranium or thorium concentrations of the rock samples measured.
References
[1]. Searchlight Resources Press Release, June 23, 2022.
https://searchlightresources.com/news/2022/searchlight-resources-begins-field-work-on-rare-
earth-and-uranium-targets-on-kulyk-lake-exploration-project/
[2]. McKeough, M. A., & Brown, J. (2011). 2010 Trenching and Prospecting, Baska-Eldorado
Property, Terralogic Consultants. Saskatchewan Mineral Assessment Database, File Number:
74A11-0054
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
[3]. Searchlight Resources Press Release, October 25, 2021
https://searchlightresources.com/news/2021/searchlight-resources-defines-new-rare-earth-
and-uranium-targets-on-kulyk-lake-exploration-project/
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.
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 minerals 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,
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as
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