Searchlight Resources Defines New 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
October 25, 2021
Searchlight Resources Defines
New Rare Earth and Uranium Targets on
Kulyk Lake Exploration Project
Vancouver, British Columbia, October 25, 2021 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV: SCLT, US: CNYCF, FSE:2CC2) is pleased to announce the initial results of the
high-resolution aeromagnetic and radiometric surveys 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
• Radiometric thorium data highlight Kulyk Lake high-grade Rare Earth Element showing
• Using thorium as REE pathfinder, a 3-km long REE exploration target is outlined
• Significant, previously unknown uranium target is outlined with radiometric data
In September 2021, Special Projects Inc. of Calgary, Alberta, completed high-resolution aeromagnetic
and radiometric surveys covering approximately 39 sq km of the Kulyk Lake claims (Map 1).
Preliminary radiometric results have outlined significant new thorium and uranium targets, in addition
to several historical REE, uranium and thorium showings.
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 (Map 2). The highest thorium value from the
radiometric survey (5.3 ppm) was located over the known Kulyk Lake REE trenches which yielded
historical assays of 56.18% Total Rare Earth Oxides (“TREO”). Additionally, the radiometric survey
identified the Kulyk Lake target as part of a larger anomalous thorium zone, at least 3 kilometres in
length (Maps 2 and 4).
“These are excellent results from the radiometric survey, highlighting the known Kulyk Lake trench
area, and tying it to a significant multi-kilometer thorium anomaly”, stated Stephen Wallace, CEO. “The
results suggest a potentially large Rare Earth exploration target area”.
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Uranium results from the radiometric survey were equally positive, identifying a significant new,
previously unknown uranium target (Maps 3 and 5), as well as pinpointing known uranium showings,
including the Eldorado showing with historical assays of 0.785 % U3O8. The newly identified
anomalous uranium zone has multiple high values, ranging up to 5.74 ppm, the highest uranium value
of this survey (Maps 3 and 5).
“The uranium results are strongest in an area where there are no previous uranium showings, and this
New Anomalous Uranium Zone represents a priority target”, stated Stephen Wallace, CEO. “Though
the Kulyk claims were staked for the Rare Earth potential, the Company will now add uranium to our
follow-up exploration targets”.
Map 1. Flightlines for 2021 Airborne Magnetic and Radiometric Surveys, Kulyk Lake Project, with
Historical Showings
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Map 2. Thorium (ppm) overlaid on Total Magnetic Intensity (nT), 2021 Airborne Survey, Kulyk Lake
Project
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Map 3. Uranium (ppm) overlaid on Total Magnetic Intensity (nT), 2021 Airborne Survey, Kulyk Lake
Project
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Map 4. Shaded Relief Map of Thorium from 2021 Airborne Survey, Kulyk Lake Project, with
Historical Showings, and newly identified 3-km long anomalous thorium zone
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Map 5. Shaded Relief Map of Uranium from 2021 Airborne Survey, Kulyk Lake Project, with
Historical Showings, and the newly identified anomalous uranium zone
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
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
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 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.
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