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**AMENDMENT     TO ASSIGNMENT AGREEMENT**

**WHEREAS:**

| A.     | Nanominerals Corp. (“NMC”) and Searchlight        Minerals Corp. (formerly Phage Genomics Inc.) (“SMC”) entered        into an assignment agreement dated for reference effective as of the 1st        day of June, 2005 (the “Assignment Agreement”); and |
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|   |                                                                                                                                                                                                                                                                                           |
| B.     | NMC and SMC wish to amend the terms of the Assignment Agreement in the      manner set out below,                                                                                                                                                                                              |

For good and valuable consideration, the receipt and sufficiency  of which is hereby acknowledged, **THE PARTIES HEREBY AGREE AS FOLLOWS:**

| 1.     | that the Assignment Agreement be amended by      deleting subparagraph 2)d. in its entirety and be replaced with the following: |
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|   |                                                                                                                            |   |   |
|   |                                                                                                                            | **2) d.** | **Confirmation to NMC, on or before September 15,        2005, that SMC is in receipt of the funds from the underwriting agreement        with Dominick & Dominick in the amount of One Million Five Thousand        Dollars ($1,500,000.00) less commissions; and** |
|   |                                                                                                                            |   |   |
| 2.     | This Amendment Agreement        may be executed in counterparts which together shall form one and the        same instrument.   |

**IN WITNESS WHEREOF** the parties hereto have executed this Amendment Agreement  as of the 31st day of August, 2005.

| **NANOMINERALS CORP.**      a Nevada corporation by its       authorized signatory: | **SEARCHLIGHT MINERALS CORP.**      a Nevada corporation by its       authorized signatory: |
|-------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|
|                                                                                |                                                                                        |
| ” Charles S. Ager”                                                      | “K. Ian Matheson”                                                               |
| Signature of Authorized Signatory                                                   | Signature of Authorized Signatory                                                           |
|                                                                                |                                                                                        |
| Dr. Charles S. Ager                                                                 | K. Ian Matheson                                                                             |
| Name of Authorized Signatory                                                        | Name of Authorized Signatory                                                                |
|                                                                                |                                                                                        |
| Chairman                                                                            | President                                                                                   |
| Position of Authorized Signatory                                                    | Position of Authorized Signatory                                                            |

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