FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

ORING MARTIN B 		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)
CEO and President
(Last)          (First)          (Middle)

7582 HAWKS LANDING DRIVE 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/21/2012
(Street)

WEST PALM BEACH, FL 33412
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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)
Code V Amount (A) or (D) Price
COMMON STOCK   5/21/2012     P    2500   A $0.945   2500   I   See Footnote   (1)
COMMON STOCK   5/21/2012     P    10000   A $0.95   12500   I   See Footnote   (1)
COMMON STOCK   5/21/2012     P    37500   A $0.96   50000   I   See Footnote   (1)
COMMON STOCK                  255000   (2) D    
COMMON STOCK                  305000   (3) I   The Martin Oring Financial Trust Dated December 20, 2006   (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
OPTIONS   $1.22                      (4)   (4) Common Stock   600000     600000   I   By Wealth Preservation, LLC   (5)
OPTIONS   $0.975                    9/30/2010   9/30/2015   Common Stock   18462     18462   I   By Wealth Preservation, LLC   (5)
OPTIONS   $0.91                      (6)   (6) Common Stock   300000     300000   I   By Wealth Preservation, LLC   (5)
OPTIONS   $0.70                    6/30/2010   6/30/2015   Common Stock   25714     25714   I   By Wealth Preservation, LLC   (5)
OPTIONS   $1.20                    3/31/2010   3/31/2015   Common Stock   15000     15000   I   By Wealth Preservation, LLC   (5)
OPTIONS   $1.60                    12/31/2009   12/31/2014   Common Stock   11250     11250   I   By Wealth Preservation, LLC   (5)
OPTIONS   $1.82                    9/30/2009   9/30/2014   Common Stock   9890     9890   I   By Wealth Preservation, LLC   (5)
OPTIONS   $2.44                    6/30/2009   6/30/2014   Common Stock   7377     7377   I   By Wealth Preservation, LLC   (5)
OPTIONS   $2.74                    3/31/2009   3/31/2014   Common Stock   6569     6569   I   By Wealth Preservation, LLC   (5)
OPTIONS   $2.45                    12/31/2008   12/31/2013   Common Stock   7347     7347   I   By Wealth Preservation, LLC   (5)
OPTIONS   $1.45                      (7)   (7) Common Stock   200000     200000   I   By Wealth Preservation, LLC   (5)
WARRANTS   $1.85                    2/23/2007   11/12/2012   Common Stock   62500     62500   D    

Explanation of Responses:
( 1)  The shares of common stock are held by Mr. Oring's wife, Mrs. Olivia Oring.
( 2)  130,000 of the 255,000 shares of common stock are jointly held with Mr. Oring's wife.
( 3)  The 305,000 shares of common stock of Searchlight Minerals Corp. are held by the Martin Oring Financial Trust Dated December 20, 2006 for the benefit of his children and grandchildren. Mrs. Olivia Oring is one of the trustees of the Martin Oring Financial Trust. Mrs. Olivia Oring is Mr. Oring's wife.
( 4)  On September 21, 2011, Mr. Oring received options to purchase up to 600,000 shares of common stock for his service as an officer of Searchlight Minerals Corp. 200,000 options vested immediately. The remaining 400,000 options vest upon certain events and milestones. The options each expire on the five year anniversary of the date that they vest.
( 5)  Mr. Oring is a managing member of Wealth Preservation, LLC. Mr. Oring and Mrs. Olivia Oring are the sole members of the LLC.
( 6)  In connection with Mr. Oring's employment as Chief Executive Officer and President, effective as of October 1, 2010, Mr. Oring received options to purchase 300,000 shares of Searchlight Minerals Corp.'s common stock. 200,000 options have vested. The remaining options vest upon certain events and milestones as set forth in the Mr. Oring's Stock Option Agreement dated October 1, 2010. The options each expire on the five year anniversary of the date that they vest.
( 7)  The options vest pro rata over four years, from October 6, 2009 through October 6, 2012. The options each expire on the five year anniversary of the date that they vest.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
ORING MARTIN B
7582 HAWKS LANDING DRIVE
WEST PALM BEACH, FL 33412 		X
CEO and President

Signatures
/s/ Martin B. Oring 5/21/2012
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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