Mr. Stephen Wallace reports

SEARCHLIGHT DEFINES EXPLORATION TARGET BETWEEN 77,000 AND 154,000 OUNCES OF GOLD AT ROBINSON CREEK GOLD PROJECT

Searchlight Resources Inc. has completed an exploration target calculation based on the compilation of historical drill holes at the Robinson Creek gold project, located approximately 15 kilometres west of Creighton, Sask., and Flin Flon, Man.

Searchlight engaged Terra Modelling Services Inc. of Saskatoon, Sask., to review the compilation of 70 historic drill holes, create a 3-D model of the data and calculate a set of exploration target quantities. An exploration target between two million and three million tonnes, with gold grades between 1.20 grams per tonne (g/t) and 1.60 g/t, was calculated. This equates to an exploration target between 77,000 ounces and 154,000 ounces, which is amenable to open-pit mining. Searchlight is currently planning further work to upgrade the exploration target to a mineral resource.

"This new Robinson Creek exploration target result demonstrates the gold potential of the Flin Flon greenstone belt, which also includes Searchlight's Bootleg Lake high-grade gold deposits. These results, along with the 2021 surface sampling program which yielded multiple high-grade gold samples, shows the potential for a surface deposit amenable to near-term mining," stated Stephen Wallace, Searchlight's chief executive officer.

The Robinson Creek gold project consists of seven claim blocks covering 2.93 square kilometres, located approximately 15 km northwest of Searchlight's Bootleg Lake claims. It is a structurally controlled mesothermal lode gold system comprising three gold zones -- the Vein, Bleiler and Quartz zones -- over a strike length of approximately one km along the Mosher Lake shear zone.

Searchlight's compilation of 70 historical diamond drill holes from the 1940s and 1980s, shows multiple gold intersections throughout 60 drill holes, with 45 gold intersections greater than two g/t over at least one metre.

A field sampling program in 2021, comprising 60 outcrop samples and 12 soil samples, confirmed the surface locations of the Vein, Bleiler and Quartz zones. Multiple samples yielded greater than 10 g/t Au from all three zones and over 40 per cent of outcrop samples yielded greater than 0.5 g/t Au. These results include grab samples of 17.17 g/t Au from the Quartz zone, 19.31 g/t Au from the Bleiler zone and 13.98 g/t Au from the Vein zone.

Qualified person

Fred Brown, PGeo, RM-SME of Terra Modelling Services, is the qualified person within the meaning of National Instrument 43-101, who reviewed the compiled drill holes and produced the exploration target data.

Stephen Wallace, PGeo, is Searchlight's qualified person within the meaning of National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.

About Searchlight Resources Inc.

Searchlight Resources is a Canadian mineral exploration and development company focused on Saskatchewan, Canada, which has been ranked as the top location for mining investment in Canada by the Fraser Institute. The company's exploration model of project generation coupled with targeted exploration focuses on uranium, rare earths, copper, nickel and gold throughout the province.

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