Howto Print File Path or Print the Filename

I'm trying to clean up my samba share and need to print the found file or print the path of the image it tried to searched for. So far I have this but can't seem to get the logic right. Can anyone help point me in the right direction?

 
for FILE in `cat list`; do
     if [ ! -z `find /opt -name $FILE` ];
     then
          echo "File $FILE does not exists"
     else
          echo "$FILE exists"
     fi
done

It's a lot of find runs depending on how many files you are searching for. To make it a bit more efficient I would go with something like this for example:

find /opt -type f -name "*.jpg" -o -name "*.gif" -print > found.out
grep -f list found.out > positive_list.out
grep -fv list found.out > negative_list.out