Searchlight Announces Change of Auditor

VANCOUVER, BC / ACCESSWIRE /July 13, 2020 / Searchlight Resources Inc. (TSXV:SCLT) ("Searchlight", or the "Company") announces that Manning Elliott LLP (the "Successor Auditor") have been appointed as the company's new auditor effective July 2, 2020, replacing Saturna Group Chartered Professional Accountants LLP , ("Saturna", or the "Former Auditor").

Reporting notices prepared in accordance with National Instrument 51-102 ("NI 51-102") by the Former Auditor, the Successor Auditor and the Company have been filed on SEDAR.

There are no disagreements or consultations (as those terms are defined in NI 51-102) in connection with the change of auditor nor have there been any reservations or modifications in the Former Auditor's reports on the Company's financial statements relating to the period during which it was auditor.

No "reportable event" as defined in NI 51-102, has occurred in connection with the audits of the two most recently completed fiscal years of the Company, nor any period from the most recently completed fiscal years of the Company for which Saturna Group Chartered Professional Accountants LLP issued an audit report and the date of the Notice.

The termination of Saturna Group Chartered Professional Accountants LLP, and appointment of Manning Elliott LLP, as auditor of the Company were considered and approved by the Board of Directors of the Company.

On behalf of the Board of Directors,

"Stephen Wallace"

SEARCHLIGHT RESOURCES INC.
Stephen Wallace, President, CEO and Director

Contact:

Searchlight Resources Inc.
Investor Relations
(604) 331-9326
info@searchlightresources.com

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.

This news release contains certain statements that constitute forward-looking statements as they relate to SEARCHLIGHT and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SEARCHLIGHT will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SEARCHLIGHT assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: closing on the Transaction as described above in a timely manner; COVID-19; reliance on key personnel; shareholder and regulatory approvals; First Nations; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; commodities pricing; effect of market interest rates on price of securities; and, potential dilution.

SOURCE: Searchlight Resources Inc.