Mr. Stephen Wallace reports

SEARCHLIGHT RESOURCES ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Searchlight Resources Inc. has closed a private placement previously announced in the press release of June 9, 2026.

The company issued 11.5 million units at a price of 10 cents per unit for aggregate proceeds of $1.15-million. Each unit consists of one common share and one full purchase warrant at a price of 10 cents per unit. Each warrant will entitle the holder to purchase one common share at 15 cents per share for a period of three years from the date of issue.

The company incurred cash commissions and finders' fees of $33,750 and 332,500 broker warrants that will entitle the holder to purchase one common share at 15 cents per share, for a period of three years from the date of issue. Certain directors of the company participated in the private placement by acquiring an aggregate of 400,000 units.

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 gold projects in Saskatchewan, and for general working capital.

Appointment of Doug Andrews as strategic adviser

Searchlight Resources is pleased to announce the appointment of Mr. Andrews as strategic adviser.

Mr. Andrews is a retired professional geologist with extensive exploration experience focused on precious metal exploration. Mr. Andrews holds a BSc in geology from McMaster University and an MSc in geology from the University of Manitoba.

Mr. Andrews began his mining career with Cominco Ltd., Selection Trust and Petromet Resources Ltd. He currently provides geologic consulting services to private and public exploration companies throughout the Abitibi greenstone belt. He was a strategic adviser for Visible Gold Mines Inc. and worked extensively with Vanstar Mining Resources Inc. on the Nelligan deposit. Most recently Mr. Andrews was the chief executive officer of RT Minerals.

About Searchlight Resources Inc.

Searchlight is a Canadian mineral exploration and development company focused on gold in Saskatchewan, Canada, which has been ranked as one of the top-10 locations in the world for mining investment by the Fraser Institute. The company has a portfolio of high-grade gold project located within 30 kilometres of Creighton, Sask., and Flin Flon, Man.

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