Vancouver, British Columbia–(Newsfile Corp. – June 2, 2025) – Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) (“Searchlight” or the “Company”) is pleased to announce that it has entered into an agreement with Canadian Gold Corp. (CGC) to option the Company’s Flin Flon North project to CGC, for total compensation of $130,000 cash and $200,000 in CGC shares.
The Flin Flon North project includes five claims covering 5,644.6 hectares, located 10 km north of Flin Flon, Manitoba (Map 1). The project is held by Searchlight under an option agreement with GEM Oil Inc. signed July 9, 2019 (“GEM Option”). Searchlight is assigning 100% interest in the GEM Option to CGC, for financial considerations outlined below.
Terms of the Option Agreement
Under the terms of the Option Agreement, and subject to the approval of the TSX Venture Exchange, over a four-year period CGC will be required to make the following cash and share payments…
