Searchlight hires Axiom for NI 43-101 tech reports

Executive Summary

• Searchlight Resources Inc. has contracted Axiom Exploration Group to prepare National Instrument 43-101 technical reports for its 100%-owned Bootleg Lake and Robinson Creek gold properties.
• The final reports are expected in early 2026, serving as the first technical report for Robinson Creek and an update to the 2013 report for Bootleg Lake.
• The reports will compile historical exploration data and provide recommendations for future exploration, development, and potential consolidation of the two nearby assets.

Key Details

• Contractor: Axiom Exploration Group.
• Timeline: Final reports expected in early 2026.
• Robinson Creek Project Highlights:
  • Initial exploration target estimated between 77,000 and 154,000 ounces of gold.
  • Estimated ore volume: 2 million to 3 million tonnes with grades between 1.20 g/t and 1.60 g/t.
  • Located 15 km west of Creighton, Sask., and Flin Flon, Man.
  • Compilation of over 70 historical drill holes from the 1940s and 1980s.
  • Mineralization zone extends at least 1,000 m along the Mosher Lake shear zone.
  • 60 drill holes have intersections >1.0 g/t gold; 45 intersections >2.0 g/t gold over at least one metre.
  • Specific Historical Intercepts:
    • DDH 81-2: 2.46 g/t Au over 57.60 m.
    • DDH HB-6: 7.59 g/t Au over 10.94 m.
    • DDH R07-1: 3.80 g/t Au over 21.00 m.
    • DDH 81-1: 2.15 g/t Au over 32.00 m.
  • Located 15 km from Bootleg Lake, allowing for shared processing potential.
• Bootleg Lake Project Highlights:
  • Brownfields project featuring three past-producing high-grade gold mines.
  • Includes the Rio mine with 1,500 m of underground workings viable for reopening.
  • 80 to 100 historic drill holes plus six drill holes completed by Searchlight.
  • Holds 18 claims (49.4 square km), with key claims valid until 2040.
  • Proximity to major mines: 20 km from SSR Mining’s Laurel Lake deposit; 7 km from Hudbay’s 777 mine.
  • 32 km by road from Canadian Gold Corp.’s Tartan Lake deposit.
  • 7 km by road from Creighton, Sask., and Flin Flon, Man.
• Disclaimers:
  • Drill sample results are historical; Searchlight has not independently verified sampling or analyzed previous work.
  • All intercepts are drill-indicated lengths; true widths are not demonstrated.
  • Exploration target is conceptual; insufficient drilling exists to define a mineral resource.

Notable Quotes

• "This will provide Searchlight with a more thorough assessment of these two important gold projects in the Flin Flon mining camp, at a time of near-record gold prices. The NI 43-101 report is particularly important for the Robinson Creek project with an initial exploration target estimated between 77,000 and 154,000 oz gold, but with no prior report," stated Stephen Wallace, chief executive officer.
• "The reports will assist the company with future exploration and development plans, including the possibility of combining Robinson Creek and the nearby brownfields Bootleg Lake gold holdings."