Item 3.02 UNREGISTERED SALES OF EQUITY SECURITIES
 
On June 25, 2008, the Company issued 1,400,000 shares of common stock to the Searchlight claim owners in connection with the option agreements dated February 8, 2005 with the Searchlight claim owners. This issuance represented the final installment of shares issuable to the Searchlight claim owners under the option agreements. The shares were issued pursuant to Section 4(2) of the Securities Act.
 
 
 

SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
Dated: July 1, 2008
 
 
SEARCHLIGHT MINERALS CORP.
       
       
 
By:
/s/ Ian R. McNeil
  
   
Ian R. McNeil
  
   
President