Mr. Stephen Wallace reports

SEARCHLIGHT COMPLETES AIRBORNE MAGNETIC SURVEY AT MARI LAKE GOLD PROJECT IN SASKATCHEWAN

Searchlight Resources Inc. has completed its high-resolution airborne magnetic survey over the Mari Lake gold project, located approximately 30 kilometres north of Creighton, Sask., and Flin Flon, Man.

The airborne survey covered the company's 57.0-square-kilometre claim package, located approximately 40 kilometres north of Searchlight's Bootleg Lake gold project. The company holds a 100-per-cent interest in the claims, acquired through staking, with no royalties. The expanded property provides approximately seven kilometres of exposure along the Kississing River shear zone, increasing the company's opportunity to investigate the known gold-bearing structures and help identify additional exploration targets.

Preliminary interpretation of the total magnetic intensity and first vertical derivative data highlights magnetic features in the vicinity of known historical gold occurrences along the Kississing River shear zone. The data also provide a basis for evaluating potential structural extensions along strike and the influence of crosscutting structures.

A detailed review of the first-vertical-derivative data identifies a magnetic low in the vicinity of historical drilling and trenching near the Kississing River shear zone. The interpretation also suggests a potential parallel structural zone that warrants further evaluation.

"Completion of the airborne magnetic survey is an important milestone for the Mari Lake gold project. Our expanded land position provides approximately seven kilometres of exposure along the Kississing River shear zone, giving us an opportunity to evaluate the structure and its associated gold occurrences across a broader area. The next step is to integrate the geophysical data with historical exploration results and geological information to identify and prioritize targets for follow-up exploration," said Stephen Wallace, president and chief executive officer of Searchlight Resources.

Mari Lake: an underexplored gold opportunity

Searchlight expanded the Mari Lake gold project in August, 2026, increasing its land position to 57.0 square kilometres in Saskatchewan. The expanded property provides approximately seven kilometres of exposure along the Kississing River shear zone, increasing the company's opportunity to investigate the known gold-bearing structures and explore for additional exploration targets.

Historical exploration conducted between 1945 and 1986 included 22 drill holes, 39 trenches and several pits. Historical reports describe a gold-mineralized structure extending for more than 700 metres, with multiple reports of visible gold.

Reported historical results include:

• Drilling: 0.85 ounce per ton of gold over 2.8 feet and 0.52 ounce per ton over 2.5 feet;
• Trenching: 1.28 ounces per ton of gold over 10 feet and 0.50 ounce per ton over six feet;
• Surface sampling: historical pit and grab samples reported gold values of up to 2.98 ounces per ton.

Disclaimer: Management cautions that the presented drill, trench and grab sample results are historical in nature, and Searchlight has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the previous exploration work to verify the results. Searchlight considers these sample results relevant as the company uses historical reports and sample results to evaluate and plan future exploration programs. All drill intercepts are drill-indicated lengths. Insufficient technical information exists to demonstrate the true widths of these intersections. The technical information is derived from public documents available through the Saskatchewan government Ministry of Energy and Resources.

Qualified person

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 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.

Searchlight is pursuing a business plan to develop a consolidated gold mining operation centred on its Rio gold mine, a historic brownfield site, with upside potential from its recently drill-permitted Robinson Creek property, the new zones discovered at the Henning Maloney mine and now the Mari Lake high-grade property.

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