Mr. Stephen Wallace reports

SEARCHLIGHT RESOURCES ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Searchlight Resources Inc. has closed a private placement previously announced by the news release of Oct. 14, 2025.

The company issued 13,802,741 units at a price of 5.5 cents per unit for aggregate proceeds of $759,151. Each unit consisting of one common share and one full purchase warrant at a price of 5.5 cents per unit. Each warrant will entitle the holder to purchase one common share at 10 cents per share for a period of four years from the date of issue.

The company incurred cash commissions and finders' fees of $14,158 and 257,409 broker warrants, which will expire four years from the date of issue.

All the securities issued are subject to a four-month hold period from the date of closing.

Searchlight intends to use the proceeds of the private placement to finance exploration expenditures on its portfolio of mineral properties and for general working capital.

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. Searchlight is a hybrid exploration company, combining skilled project generation with modern exploration, focusing on battery minerals and gold throughout the province.

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