Searchlight Resources Completes Drill Program on Beatty South Target

Rhea-AI Summary

Searchlight Resources Inc. has completed a drill program on the Beatty South target, located 15 km northwest of Creighton, Saskatchewan. A single NQ diamond drill hole, measuring 207 metres, was finished, and a borehole electromagnetic survey is currently underway. This project is part of a broader exploration initiative incorporating advanced geophysical techniques. Searchlight holds a significant land position in the Flin Flon - Snow Lake Greenstone Belt, with ongoing advancements in its Bootleg Lake Gold Project.

Downhole geophysics interpretation underway

VANCOUVER, BC / ACCESSWIRE / March 24, 2021 / Searchlight Resources Inc. ("Searchlight" or the "Company") (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) is pleased to announce that the planned drill program has been completed on the Beatty South target located approximately 15 km northwest of Creighton, Saskatchewan, in the historic Flin Flon mining camp.

The program of a single NQ diamond drill hole, 207 metres in length, has been completed on a geophysical target located approximately 15 kilometres northwest of Creighton, Saskatchewan in the historic Flin Flon mining camp. A borehole electromagnetic (BHEM) survey has also been completed, and interpretation is ongoing.

This pilot drill hole was based on systematic geophysics programs including airborne, UAV and ground surveys. Additional airborne targets have been defined along a four-kilometer strike length, and are now being integrated into Searchlight's Flin Flon North database to determine areas for future ground geophysics follow-up.

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:CYNCF) 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 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 located in Saskatchewan, less than 10 km from Flin Flon, Manitoba, and which hosts four past producing high-grade gold mines.

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
info@searchlightresources.com

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 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 include, 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 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.

SOURCE: Searchlight Resources Inc.

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FAQ

What drilling program did Searchlight Resources complete in March 2021?

Searchlight Resources completed a drill program on the Beatty South target, involving a single NQ diamond drill hole measuring 207 metres.

What is the significance of the Beatty South target for Searchlight Resources?

The Beatty South target is part of ongoing exploration efforts and geophysics programs aimed at identifying areas for further development within the Flin Flon mining camp.

How does Searchlight Resources' exploration in Saskatchewan impact its business?

Searchlight Resources' exploration in Saskatchewan focuses on gold and battery minerals, enhancing its position in a top-rated mining investment location.

What are the future plans for Searchlight Resources following the drill program?

Post-drill program, Searchlight Resources plans to integrate additional airborne targets into its database for future geophysical follow-ups.

What is the relevance of the borehole electromagnetic survey completed by Searchlight Resources?

The borehole electromagnetic survey is essential for interpreting the geological data collected during the drilling, aiding in future exploration decisions.