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Searchlight Resources Inc. has appointed Mr. Bruce Fair to its Board of Directors. Fair, founder of Mench Capital Corp., has substantial experience in corporate finance and has participated in over $500M in equity transactions. He has previously held leadership positions with various investment firms and currently serves as President and CEO of Cordillera Minerals Group Ltd.. Additionally, the company has granted stock options to purchase up to 2,475,000 common shares at $0.10 each, exercisable before January 14, 2027. Searchlight focuses on mineral exploration in Saskatchewan, a top mining investment location.
Searchlight Resources Inc. has successfully closed the second and final tranche of its private placement, raising a total of $280,600 by issuing 3,507,500 units priced at $0.08 per unit. Each unit consists of one common share and a half warrant, with a two-year exercise price of $0.12. Additionally, 2,150,000 flow-through units were issued for $215,000. Proceeds will fund exploration expenditures and general working capital. The securities are subject to a four-month hold period.
Searchlight Resources Inc. announced the closure of the second tranche of its private placement, raising $495,600. This includes $215,000 from flow-through units and $280,600 from non-flow-through units. The second tranche issued 3,507,500 units priced at $0.08 per unit, each with a two-year warrant at $0.12. Additionally, 2,150,000 flow-through units were raised at $0.10 per unit, with warrants priced at $0.15. Funds will support exploration expenditures and general working capital.
Searchlight Resources Inc. announced the closing of the first tranche of a private placement, raising $718,337 through the issuance of 8,979,208 units at $0.08 each. Each unit includes one common share and one-half warrant, exercisable at $0.12. Additionally, 1,600,000 flow-through units were issued, raising $160,000 at $0.10 each, allowing tax benefits under the Income Tax Act (Canada). The funds will support exploration and general working capital. Commissions of $24,220 and broker warrants were also announced.
Searchlight Resources Inc. has announced a non-brokered private placement of up to $2,000,000 in flow-through and non-flow-through units. The offering is aimed at accredited investors in Canada and internationally. Searchlight plans to issue 10,000,000 FT units priced at $0.10 each, generating $1,000,000, and 12,500,000 NFT units at $0.08 each, also raising $1,000,000. Proceeds will fund exploration on mineral properties and working capital, subject to regulatory approvals.
Searchlight Resources Inc. has expanded its Kulyk Lake Rare Earth and Uranium projects in Saskatchewan, increasing its claim area from 105.4 sq km to 317.1 sq km. This expansion captures 38 Rare Earth, Uranium, and Thorium showings, with trenching results showing up to 45.1% TREO and 10.08% CREO. CEO Stephen Wallace highlighted the strategic importance of this move amid a uranium staking rush in the region. Additionally, Holly Millar has joined as Director of Corporate Communications, while Director Peter Ball has resigned.
Searchlight Resources Inc. has announced initial findings from high-resolution aeromagnetic and radiometric surveys on its Kulyk Lake Rare Earth Element project in Saskatchewan. The results identify a significant 3-km long REE exploration target, highlighted by high-grade thorium data, and reveal a previously unknown uranium target. High thorium values (up to 5.3 ppm) were recorded over historical REE trenches, while uranium results showed values reaching 5.74 ppm. These findings suggest potential for large exploration targets for both Rare Earth Elements and uranium.
Searchlight Resources Inc. has expanded its claim on the Duddridge Lake Uranium Deposit in Saskatchewan from 54.4 sq km to 140.7 sq km, incorporating Sandfly Uranium-Copper showings. The property, located about 75 kilometers northwest of La Ronge, hosts a historic inferred resource estimate of 227,880 tonnes at a grade of 2.14 lbs/tonne U3O8. An airborne radiometric survey is underway using proprietary technology previously effective in locating significant uranium deposits. CEO Stephen Wallace emphasizes the strategic timing given the recent increase in uranium prices.
Searchlight Resources Inc. announced promising results from preliminary sampling at the Robinson Creek Gold Project in Saskatchewan. During the 2021 field season, the sample collection confirmed high gold values, with over 40% of outcrop samples exceeding 0.5 g/t Au and several samples surpassing 10 g/t Au. The project is situated in a historically rich mining area, highlighting its potential for further exploration. Concurrent airborne surveys were conducted, with additional results anticipated. The findings will aid in future geological mapping and drilling plans.
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