Searchlight Resources Stakes Otonadah Lake Copper Zinc Deposit in the Flin Flon Greenstone Belt

Rhea-AI Summary

Searchlight Resources (OTC:SCLTF) has announced the strategic staking of claims covering the Otonadah Lake and Cam copper-zinc targets in Saskatchewan's Flin Flon Greenstone Belt. The newly staked claims, totaling 1,465.5 hectares, include a historic deposit reported by BHP-Utah Mines in 1992 containing 100,000 tonnes grading 3.4% copper and 1.5% zinc.

Located just 25 km northwest of Flin Flon, a major mining center, the property benefits from excellent infrastructure with Highway 106 nearby. The Otonadah Lake prospect features a thick gossan with sulphide replacement bodies, while the CAM Option Cu Showing includes 7 trenches extending over a 701m strike length. The company plans to conduct prospecting, MMI sampling, and airborne geophysics as part of future exploration efforts.

Positive

• Strategic acquisition of claims with historic deposit containing significant copper (3.4%) and zinc (1.5%) grades
• Excellent infrastructure with Highway 106 access and proximity to Flin Flon mining center
• Property includes two promising targets: Otonadah Lake and CAM copper-zinc showings
• Cost-effective acquisition through staking rather than purchase

Negative

• Historic resource estimate is not NI 43-101 compliant and requires verification
• Additional drilling required to establish current mineral resources
• Significant exploration work needed to verify historic findings

• Historic deposit of 100,000 tonnes - 3.4 % copper & 1.5 % zinc
• New staking 25 km northwest of Flin Flon copper, zinc, gold mines
• Highway 106 passes through claim block

Vancouver, British Columbia--(Newsfile Corp. - July 29, 2025) - Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) ("Searchlight" or the "Company") is pleased to announce the staking of the Otonadah Lake and Cam copper- zinc targets, located 25 km northwest of Creighton, Saskatchewan and Flin Flon, Manitoba.

During a recent Saskatchewan claim reopening, Searchlight staked Claims MC00022357 and MC00022763, covering 1,465.5 hectares within the Flin Flon Greenstone Belt, which hosts the world-class copper-zinc-gold VMS deposits at Flin Flon (Map 1). The new claims include the historic Otonadah Lake Copper Deposit and exploration shaft, described by BHP-Utah Mines Ltd. in 1992, as containing 100,000 tonnes grading 3.4 % copper and 1.5 % zinc.

"The new claims align with Searchlight's exploration strategy of generating new critical element projects by staking," stated Stephen Wallace, P. Geo, President and CEO of Searchlight. "It is exciting that Searchlight was able to stake the Otonadah Lake claims with this historical copper and zinc deposit, within 25 km of the Flin Flon VMS Mines."

The Otonadah Lake prospect consists of a thick gossan overlying sulphide replacement bodies, in garnet-biotite gneiss of the Kisseynew Group. Five long trenches expose an area 70 -150 feet wide (21.3 - 45.7 m), consisting of jointed and schistose gneiss that hosts pyrrhotite, pyrite and minor disseminated magnetite, sphalerite and chalcopyrite mineralization. Several semi-massive sulphide bodies were observed with reported chalcopyrite.

The new claims also include the CAM Option Cu Showing, with 7 trenches over a strike length of 701 m, and width up to 7 m. Massive pyrrhotite, plus chalcopyrite and sphalerite, were reported in the trench dumps.

The claims have excellent infrastructure and access, located 25 km from Flin Flon, a significant mining center. The Otonadah Lake prospect is located 2 km north of Highway 106, and the Cam prospect is within 200 m of the road from Highway 106 to Tyrell Lake. The claims are now part of Searchlight's Flin Flon area portfolio, which includes Bootleg Lake and Robinson Creek Gold projects.

Map 1. Searchlight Claims MC00022357 and MC00022763

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Future Exploration

Searchlight is planning future exploration at both Otonadah Lake and Cam copper-zinc targets, including prospecting, MMI sampling and airborne geophysics.

Sources

1. Otonadah Lake Copper Deposit: Gonzales, A.M. and St. Pierre, M. 1992. Geological, Geochemical, Drilling and Geophysical Report on the Vass Property, Saskatchewan, NTS63 L/16. Work Performed June 8, 1991 - July 30, 1991, and January 5, 1992 - February 29, 1992, for BHP-Utah Mines Ltd. Saskatchewan Assessment File No. 63L16-0152, Saskatchewan Energy and Resources.
2. Otonadah Lake Copper Showing: Saskatchewan Mineral Deposit Index (SMDI) Report #0302
3. CAM Copper Showing: Saskatchewan Mineral Deposit Index (SMDI) Report #0301.

Disclaimer

The BHP-Utah report by Gonzales and St. Pierre (1992) uses the term "deposit" and was prepared before the introduction of National Instrument 43-101-Standards of Disclosure for Mineral Projects This historic deposit is considered relevant as Searchlight uses historical data as a guide to plan future exploration programs.

The assumptions, parameters and methods used to calculate this historical deposit are not known to Searchlight and are not comparable to current CIM standards and definitions. The Searchlight Qualified Person (QP) has not undertaken sufficient independent investigation of the deposit estimates, nor has the QP independently analyzed the results of the previous exploration work in order to verify the deposit, nor has the QP completed the required work to make the deposit a current resource.

The QP has not made any attempt to re-classify the deposit according to current NI 43-101 standards and CIM definitions, and the Company is not treating the deposit as current. In order for these resources to be brought to current standards, the Company will be required to conduct additional drilling on the Otonadah Lake Property. The Company is not treating this deposit as current mineral resources or mineral reserves as defined in NI 43-101.

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Stephen Wallace P.Geo., President of Searchlight Resources.

About Searchlight Resources - Where the Critical Elements Supply Chain Begins

Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) 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. The Company's exploration model of Project Generation, coupled with Targeted Exploration, focuses on battery minerals and gold throughout the province.

On behalf of the Board of Directors,
"Stephen Wallace"
Stephen Wallace, President, CEO and Director
SEARCHLIGHT RESOURCES INC.

For further information, visit the Company's website at www.searchlightresources.com or contact:
Searchlight Resources Inc.
Alf Stewart, VP Corporate Development
(604) 331-9326
info@searchlightresources.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

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FAQ

What is the size and grade of the historic Otonadah Lake deposit acquired by Searchlight Resources (SCLTF)?

The historic deposit, as reported by BHP-Utah Mines in 1992, contains 100,000 tonnes grading 3.4% copper and 1.5% zinc. However, this estimate is not NI 43-101 compliant and requires verification.

Where are the newly staked Searchlight Resources claims located?

The claims are located 25 km northwest of Creighton, Saskatchewan and Flin Flon, Manitoba within the Flin Flon Greenstone Belt, covering 1,465.5 hectares.

What infrastructure is available at the Searchlight Resources Otonadah Lake property?

The property has excellent infrastructure, with Highway 106 passing within 2 km of the Otonadah Lake prospect and the Cam prospect located within 200m of the road from Highway 106 to Tyrell Lake.

What are Searchlight Resources' exploration plans for the Otonadah Lake property?

Searchlight plans to conduct prospecting, MMI sampling, and airborne geophysics at both the Otonadah Lake and Cam copper-zinc targets.

What is the size of the CAM Option Cu Showing within the new Searchlight claims?

The CAM Option Cu Showing includes 7 trenches over a strike length of 701 meters, with widths up to 7 meters, containing massive pyrrhotite, chalcopyrite, and sphalerite mineralization.