SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

AGER CARL S

(Last)

(First)

(Middle)

2441 W. HORIZON RIDGE PKWY

SUITE #120

(Street)

HENDERSON

89052

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Searchlight Minerals Corp. [ SRCH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP, Secretary and Treasurer

3. Date of Earliest Transaction (Month/Day/Year)
10/19/2010

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/19/2010		S⁽¹⁾		7,500	D	$0.65	200,593⁽²⁾	D
Common Stock	10/19/2010		S⁽¹⁾		3,500	D	$0.66	197,093⁽²⁾	D
Common Stock	10/19/2010		S⁽¹⁾		500	D	$0.655	196,593⁽²⁾	D
Common Stock	10/20/2010		S⁽¹⁾		500	D	$0.65	196,093⁽²⁾	D
Common Stock	10/20/2010		S⁽¹⁾		11,250	D	$0.63	184,843⁽²⁾	D
Common Stock	10/20/2010		S⁽¹⁾		250	D	$0.64	184,593⁽²⁾	D
Common Stock	10/20/2010		S⁽¹⁾		3,000	D	$0.635	181,593⁽²⁾	D
Common Stock	10/21/2010		S⁽¹⁾		10,000	D	$0.63	171,593⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Options	$0.44							11/21/2005	11/21/2010	Common Stock	500,000		500,000	D
Non-Qualified Stock Options	$1.7							04/07/2006	04/07/2011	Common Stock	60,000		60,000	D
Non-Qualified Stock Options	$2.4							06/06/2006	06/06/2011	Common Stock	250,000		250,000	D
Non-Qualified Stock Options	$4.04							02/16/2007	02/16/2012	Common Stock	24,800		24,800	D

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person and Jeffries effective September 29, 2010.

2. Does not include any securities owned by Nanominerals. Mr. Ager is a 17.5% stockholder of Nanominerals, a company that owns 16,400,000 of the issuer's outstanding shares of common stock and warrants to purchase up to 200,000 shares of common stock. However, Mr. Ager does not have any voting or investment powers over the 16,400,000 shares or the 200,000 warrants owned by Nanominerals. For purposes of Section 16, Mr. Ager disclaims beneficial ownership of Nanominerals' securities, except to the extent of his pecuniary interest, if any, therein. This report shall not be deemed an admission that Mr. Ager is the beneficial owner of Nanominerals' securities for purposes of Section 16 or for any other purpose.

	/s/ Carl S. Ager	10/21/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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