SEARCHLIGHT RES INC - SCLTF STOCK NEWS

Searchlight Resources Inc. (TSXV:SCLT, OTCQB:SCLTF) announced the staking of seven pegmatite occurrences in Saskatchewan, expanding its portfolio in a region known for Lithium-Cesium-Tantalum (LCT) pegmatites. Five occurrences host Beryllium and Tourmaline, key pathfinder minerals. The staked areas include significant claims near known mineral fields, covering a total of 38,406 hectares. The company plans further exploration on these claims, aiming to capitalize on Saskatchewan's growing reputation as a hub for lithium exploration. CEO Stephen Wallace emphasized the strategic importance of these efforts in enhancing the company's footprint in critical minerals.

Searchlight Resources Inc. (TSXV:SCLT, OTCQB:SCLTF) announced results from Mobile Metal Ion (MMI) surveys at the Kulyk Lake Critical Elements project in Saskatchewan. The surveys identified both known and new zones of anomalous uranium and rare earth elements. A total of 242 MMI samples were collected over two grids. The company plans to expand MMI surveys, conduct follow-up prospecting, and perform geological mapping in 2023. CEO Stephen Wallace highlighted the discovery of new targets related to a pegmatite system around Kulyk Lake as a promising development for the project.

Searchlight Resources Inc. has announced its shares will begin trading on the OTCQB under the symbol SCLTF on February 10, 2023. This move is expected to enhance the company's visibility in the U.S. investment community, potentially boosting liquidity and attracting institutional and retail investors. The OTCQB platform is recognized for promoting high-quality trading experiences for investors, as companies must meet stringent financial reporting and verification standards. Searchlight is focused on mineral exploration, particularly battery minerals and gold, in Saskatchewan, Canada, which is deemed a prime mining investment location.

Searchlight Resources Inc. (SCLTF) announced a letter of intent to option 100% interest in the Jan Lake property and a 50% joint venture in the Hanson Lake property to Brunswick Exploration Inc. The claims, located near Creighton, Saskatchewan, cover 148.6 sq km and include historic samples with anomalous rare metals such as Lithium and Gallium. The option agreement involves a total of $2.35 million in cash and shares, along with a $1 million work commitment over four years and a 2% Net Smelter Royalty. Brunswick will lead exploration efforts on these properties.

Searchlight Resources Inc. has announced the staking of a new claim block covering 148.6 sq km of Jan Lake Pegmatites, located 60 km west of Creighton, Saskatchewan, and Flin Flon, Manitoba. This area includes critical elements like Beryllium, Rubidium, Gallium, Tantalum, Cesium, and Lithium, with previous regional work identifying various pegmatite units. The claims are 100% owned by Searchlight, with immediate infrastructure access via Highway 106. This addition is significant for the company's portfolio focused on high-value critical elements.

Searchlight Resources Inc. has entered an agreement to acquire a 25% interest and 1% NSR in the Bootleg Lake Gold property from New Moon Minerals Corp.. This acquisition will grant Searchlight 100% ownership of the property located in Saskatchewan, Canada, which spans 4,988 hectares and encompasses four past-producing gold mines. The company plans to issue 6,000,000 shares to New Moon, with the transaction subject to TSX approval. This strategic move aims to simplify ownership and accelerate exploration efforts in a key mining area.

Searchlight Resources has contracted the Saskatchewan Research Council to conduct a Rare Earth Elements (REE) beneficiation study on a monazite sample from its Kulyk Lake project in Saskatchewan. This study aims to identify the most effective processing methods for the high-grade Fanta monazite. The testing will cover chemical analysis and preliminary beneficiation techniques, which include gravity and magnetic separation. The Kulyk Lake project spans 346.7 sq km and showcases multiple REE targets, with historical samples indicating high concentrations of Total Rare Earth Oxides (TREO).

Searchlight Resources Inc. has granted 1,850,000 stock options to its officers, directors, and consultants under its Stock Option Plan. These options are exercisable at $0.06 per share and will vest immediately, expiring on November 11, 2027. The company focuses on mineral exploration in Saskatchewan, particularly in gold, uranium, and battery minerals, leveraging the province's reputation as a top mining investment location. The announcement emphasizes the company's commitment to incentivizing its team while navigating inherent industry risks.

Searchlight Resources Inc. (TSXV:SCLT, OTC PINK:SCLTF) announced successful results from its June 2022 prospecting program at the Kulyk Lake Critical Elements project. Highlights include:

• Uranium Results: 0.067% (670 ppm) and 0.054% (540 ppm) U3O8 from samples.
• Rare Earth Results: 0.95% (9,464 ppm) and 0.85% (8,495 ppm) TREO showing significant rare earth elements.

Phase 2 exploration, featuring a Mobile Metal Ion survey, has commenced to further investigate these findings.