UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
May 8, 2007
Date of Report (Date of earliest event reported)
SEARCHLIGHT MINERALS CORP.
(Exact name of registrant as specified in its charter)
| NEVADA | 000-30995 | 98-0232244 |
| (State or other jurisdiction of | (Commission File Number) | (IRS Employer Identification No.) |
| incorporation) | | |
| #120 - 2441 W. Horizon Ridge Pkwy | |
| Henderson, NV | 89052 |
| (Address of principal executive offices) | (Zip Code) |
(702) 939-5247
Registrant's telephone number, including area code
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
____ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
____ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
____ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
____ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
| ITEM 1.01 | ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. |
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| Effective May 8, 2007, the Board of Directors of Searchlight Minerals Corp. (the “Company”) determined to cease granting any further options under the Company’s 2003 Nonqualified Stock Option Plan and reduced the number of shares of the Company’s common stock available for issuance under the Company’s 2007 Stock Option Plan (the “2007 Plan”) to a maximum of 4,000,000. A copy of the 2007 Plan, as amended, is included as exhibit 10.1 to this current report on Form 8-K. |
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The above description of the 2007 Stock Option Plan does not purport to be complete, and is qualified in itsentirety by reference to the full text of the 2007 Plan, which is attached as Exhibit 10.1 to this Current Reporton Form 8-K and is incorporated by reference herein. |
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| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
(d) Exhibits
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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 hereunto duly authorized.
| | SEARCHLIGHT MINERALS CORP. |
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| Date: May 9, 2007 | |
| | By: | /s/ Carl S. Ager |
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| | | CARL S. AGER |
| | | Secretary and Treasurer |
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