Mr. Stephen Wallace reports

SEARCHLIGHT COMPLETES SALE OF KULYK LAKE AND DALY LAKE PROJECTS TO MONAZITE METALS CORP.

Searchlight Resources Inc. has closed an agreement, dated Dec. 16, 2025, with Monazite Metals Corp. (MMC) to sell the company's Kulyk Lake and Daly Lake projects in Northern Saskatchewan. These critical metals projects are wholly owned by Searchlight and comprise contiguous claim blocks geologically located in the Wollaston domain and 55 kilometres south of the Key Lake uranium mine and mill in Northern Saskatchewan.

The MMC agreement is an arms-length agreement with Monazite Metals, a private British Columbia corporation.

Searchlight is selling the property for the following considerations:

• $180,000 cash, paid on closing;
• 10.2 million shares of MMC at a deemed price of 10 cents issued on closing;
• A 1-per-cent net smelter royalty, which MMC can buy out at any time for a cash payment of $1-million;
• A payment of $300,000 in equity payments if certain drilling result milestones are achieved.

"Searchlight is impressed with the management team of Monazite and its plans for the Kulyk Lake and Daly Lake properties. This agreement allows Searchlight to focus its exploration efforts on its flagship gold projects near Flin Flon," stated Stephen Wallace, Searchlight's chief executive officer. "The company is currently working on plans for the reopening of the estimated 1,500 metres of underground workings at the high-grade Rio gold mine.

An advisory fee of $20,000 is payable to Canaccord Genuity.

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 Saskatchewan, Canada, which has been ranked as the top location for mining investment in Canada by the Fraser Institute. Exploration focus is on gold, copper and other critical metals throughout the province, concentrating on projects with nearby infrastructure.

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