Searchlight Resources Inc. announced the staking of the Milner Lake Uranium Project, located approximately 5 kilometres west of Missinipe, and 60 kilometres north of La Ronge, Saskatchewan. Searchlight has staked a 446.7 hectare claim located 5 km west of Missinipe and Highway 102. The claim covers two areas of known uranium mineralization; the MUS Claim No.

5 Uranium Showing, and the KAZ Claim No. 8 Uranium-Fluorite Showing. These showings are among multiple historic uranium targets located south of the Athabasca Basin.

The staking is part of the Company's systematic research and evaluation of past exploration projects in Saskatchewan. Uranium staining was noted 0.9 miles (1.4 km) northeast of the north end of Milner Lake on the KAZ No. 8 claim.

The showing consists of uranium mineralization, mainly uranophane and autunite, which occurs at the contact of granitic gneiss and pegmatite, over a 50 x 150 ft (15.2 x 45.7 m) area. Seventeen channel samples from a 50 ft (15.2 m) trench yielded assays ranging from 0.003% to 0.500% U3O8, averaging 0.072% U3O8. A secondary side pit exposed a heavy concentration of uranium minerals associated with veinlets of fluorite.

Five samples from this pit included assays of 0.60%, 1.17% and 1.39% U3O8. One sample submitted for spectrochemical analysis yielded 1.38% U3O8. The showing consists of a pegmatite outcrop exposed over 200 x 60 ft (61.0 x 18.3 m), approximately.

Uranium mineralization, primarily uranophane and autunite, occurs on the east side of a shear which extends through the centre of the ridge, and is highest where biotite mica is abundant. Grab samples from the biotitic and feldspathic phases returned 0.70% and 0.127% U3O8, respectively. In addition, twenty-six channel samples taken at 5 ft (1.5 m) intervals along an 80-foot trench (24.4 m) yielded assays ranging from 0.003% to 0.126% U3O8, averaging 0.022% U3O8.