#1SEARCHLIGHT RESOURCES FOCUS ON SASKATCHEWAN CORPORATE PRESENTATION October, 19 2022 TSX.V:SCLT | US:CNYCF | FSE:2CC2#2Forward Looking Statements All statements in this document regarding exploration projects for Searchlight Resources Inc. ("Searchlight", or "SCLT"), other than statements of historical fact, are "forward-looking information" with respect to Searchlight within the meaning of applicable Canadian securities laws, including statements that address future mineral production, reserve potential, exploration drilling, the current or future price of commodities, potential quantity and/or grade of minerals, potential size of a mineralized zone, potential expansion of mineralization, the timing and results of future resource estimates, or other study, proposed exploration and development of our exploration properties and the estimation of mineral resources. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases, or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Searchlight to differ materially from those anticipated in such forward-looking information. Stephen Wallace, PGeo., is the designated qualified person for Searchlight within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this document for the Searchlight exploration projects. 2 SCLT TSXV SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#3Management & Directors- over 150 years of Mining and Finance experience Stephen Wallace P.Geo. President, CEO & Director Stephen Wallace, P.Geo., (APGO, APEGS) brings more than 35 years of successful mineral exploration and development experience from grassroots and greenfield evaluation through to mine development throughout Canada and internationally. Exploring for a wide range of commodities, Stephen has held management and technical positions with government agencies, and major and junior resource companies including Goldcorp, BHP and Noranda and in multiple executive roles for junior exploration companies over the past 15 years. As Senior VP Exploration and director of Trade Winds Ventures (TSXV:TWD), he contributed and increased the value of the company for its $84 Million buyout by Detour Gold Inc; he followed as President and CEO of Castle Resources Inc. Alf Stewart, B.SC Hons. Geology, MBA Chairman, VP Corporate Development & Director Alf Stewart has a career spanning over 40 years in the resource and investment industries as as a geologist, securities regulator, investment banker, analyst and investment advisor for firms including Bank of Montreal, Esso Minerals, Erickson Gold Mining, Canaccord Capital, Haywood Securities, and Raymond James. Hie has been involved with over $200 million of mining finance with multiple discoveries in the uranium, base- and precious metals sectors. Bruce Fair, Independent Director Robert Bruce Fair holds an Honours degree from the University of Saskatchewan and is President and founder of Mench Capital Corp., credited with contributing to or originating in forming greater than $500M+ in private and public equity transactions over the past 22 years. He has served on multiple private and public company Boards as an independent Director including Maple Leaf Flow-Through Limited Partnerships (2009-2016), Sky Energy Partners GP Corp. (2012-2020), Nationwide Self Storage Trust I, Maple Leaf Energy Income Limited Partnerships (2009-2016), Maple Leaf Resource Corp, Richfield Ventures Inc., Orsa Ventures Corp., and Cliffmont Resources Ltd. Currently, Mr. Fair is acting President and CEO of Cordillera Minerals Group Ltd. 3 SCLT TSXV SEARCHLIGHTRESOURCES.COM John Kerr, P.Eng. Geologist Independent Director Mr. Kerr graduated from the University of British Columbia in 1964 with a Bachelor of Applied Science (BASc) degree in Geological Engineering. In the mining industry continuously since graduation as an exploration geologist, Mr. Kerr's successful ventures include recognition and discovery of the Santa Fe gold mine, identification of the Calvada gold mine, and discovery of the Mindora gold/silver deposit, all located in Nevada. Mr. Kerr has served as a director of numerous public companies and is currently a Director of Quaterra Resources (TSX.V: QTA), Eureka Resources (TSX-V:EUK), and Bravada Gold Corp (TSX-V:BVA). Peter Dueck P.Geo. MBA Independent Director Peter Dueck has been involved in the resource exploration industry since 2001, working with a variety of gold, copper, zinc and uranium companies. Until early 2018, he held the position of Chief Geophysicist for Hudbay Minerals Inc. in Flin Flon, Manitoba. In addition, Mr. Dueck was President of Pioneer Aerial Surveys Ltd. and founder of Aerial Imaging Resources Inc. (AIR), a UAV-based geophysical survey company. Mr. Dueck was also VP Geophysics and Geomatics at Axiom Exploration and is currently the Head of Applied Geophysics for GoldSpot. Mr. Dueck holds a B.Sc. in Geophysics from the University of Saskatchewan as well as an MBA from the University of Wales. SEARCHLIGHT RESOURCES#4Searchlight Resources - TSX Venture Listed Exploration Company Management team has experience in significant Gold and Uranium discoveries Compelling portfolio of mining assets including Rare Earths, Uranium, Gold, Nickel and Copper- Zinc VMS Exploration targets high-demand commodities used in clean technology aiming to achieve. global decarbonization Exploring in Saskatchewan, Canada's #1 jurisdiction for mining investment in 20211 LATEST NEWS: anomalous concentrations of rare earth and uranium oxides in pegmatite samples 4 SCLT TSXV SEARCHLIGHTRESOURCES.COM 1The Fraser Institute SEARCHLIGHT RESOURCES#5Searchlight's Take on Critical Elements Vulnerable to Shortages 3 Li Lithium 6.914 28 88 27 Ni Nickel 58.693 Co Cobalt 58.933 Future Market Shortages of Energy Metals - Lithium has quadrupled in price since 2021, which has stimulated a supply response from the mining industry in exploration, development, and production. Nickel - Elon Musk has publicly called on the mining industry to supply more nickel in a form suitable for electric vehicle batteries - Cobalt a highly sought-after battery material from sources often having environmental, social and governmental issues, and exists as a by-product supply market rather than a primary one; consequently, battery makers are re-engineering battery chemistry to exclude cobalt. Rare Earth Elements - also considered critical are vulnerable to market shortages, with China currently sitting as both main supply and demand in the global market. 5 SCLT TSXV SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#61 3 Searchlight's Take on Critical Elements Vulnerable to Shortages Li Lithium Be eryllium Periodic Table Emphasizing 'Energy Metals' and Rare Earth Elements 2 He Helium. 5 9 7 8 9 B C N O பட F Boron Carbon 13 14 Nitrogen Oxygen 15 Fluorine 17 ΑΙ Si Silicon P Phosphorus 16 33 $5 Germanium Arsenic Selenium 50 Tin Rb 52 Sb Te 10 18 56 36 Ne Neon Ar Argon Bromine Kryptonite 53 54 Xe Xenon 83 Antimony Tellurium 84 lodine 85 86 Bi Rn Rare Earths, highlighted here, along with 'battery metals' (Co, Ni, Cu) seem at an imminent and major pinch point as China - currently the world's largest refiner- is predicted to outgrow its domestic supply, leaving the rest of the world without a reliable supplier, in a market predicted to grow five-fold in the coming decade. Sodium 19 Na Mg Magnesium Aluminum Sulfur Chlorine 20 20 21 23 24 25 26 27 28 29 3 31 32 33 34 35 K Ca Sc Potassium 37 Rb Rubidium 55 Cs 38 Sr Strontiur 56 39 Yttrium Ti V Cr Mn Fe Co Ni Cu Zn Ga Ge As Se Br Kr Calcium Scandium Titanium 0 Vanadium 41 Chromium Manganese Iron Cobalt Nickel Copper Zinc Gallium 42 43 44 40 49 51 > Zr Nb Mo Tc Ru Rh Pd Ag Cd In Sn irconium 57-71 2 Niobium. 73 75 Molybdenum Technetium Ruthenium 74 Rhodium Palladium Silver Cadmium Indium 76 77 78 79 80 81 82 Ba REE Hf Ta W Re Os Ir Pt Au Hg ΤΙ Ra Series Radium 87 Cesium Fr Francium 88 Barium Lanthanides Hafnium Tantalum Tungsten Rhenium Osmium 89-103 04 105 106 107 108 Iridium 109 Platinum Gold 110 111 Mercury 112 Thallium 113 Lead 114 Actinide Rf Db Sg Bh Hs Mt Ds Rg Cn therfordium Dubnium Seaborgium Bohrium Hassium Meltnerium Darmstadtium Roentgenium Po At Bismuth Polonium Astatine 115 116 117 Nh FI Mc Lv Copernicium Nihonium Flerovium Moscovium Livermorium Tennessine Oganesson Radon. 118 Ts Og 57 58 59 59 60 60 61 62 63 64 65 66 67 68 69 70 71 Rare Earths La Ce Pr Nd Pm Sm Eu Gd Tb Dy Ho Er Tm Yb Lu Lanthanum Cerium Praseodymium Neodymium Promethium Samarium Europium Gadolinium Terbium Dysprosium Holmium Erbium Thulium Ytterbium Lutetium 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 Actinide Series Ac Th Pa U Np Pu Am Cm BK Cf Es Fm Md No Lr Actinium Thorium Protactinium Uranium Neptunium Plutonium Americium Curium Berkelium Californium Einsteinium Fermium Mendelevium Nobelium Lawrencium 6 SCLT TSXV SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#7Critical Elements are a Pinch Point in the EV Revolution 615028 7 SCLT TSXV SEARCHLIGHTRESOURCES.COM ELECTRIC VERCE China's vehicle market is the world's largest and has reached an inflection. point, switching from conventional to electric vehicles as a matter of both industrial policy and consumer preference at a rate doubling year over year. Global growth of the electrical vehicle (EV) market also seems to be at an inflection point with an energy crisis in Europe further stimulating demand for EV's. At 16 pounds of rare earth elements per EV as well as use in wind turbines, the demand for the rare earth elements 'magnet metal alloys' ( neodymium, praseodymium and dysprosium), will continue to rise, and at increasing rates. SEARCHLIGHT RESOURCES#80.7% 1.3% Other Countries 310,000t O Australia 4,100,000t 37.9% World Total 115,820,000t* Reserve data Global Reserves and Production Data of REES China 44,000,000t China tops the list for reserves and mine production. While the U.S. has 1.5 million tons in reserves, it still depends on China for refined rare earths. South Africa 790,000t Tanzania 890,000t Greenland 1,500,000t U.S. 1,500,000t WHERE ARE THE WORLD'S RARE EARTH RESERVES? Americas Europe Africa Asia Oceania Other Brazil 21,000,000t Vietnam 22,000,000t Vietnam and Brazil have the second and third most reserves, their mine production is among the lowest with only 1,000 tons per year each. •India 6,900,000t Russia 12,000,000t Canada 830,000t After mine production, rare earths must be refined and separated into their individual metals for their particular uses. Uses: 18.1% Ι 27 Magnets Lights Screens Glass Catalysts Batteries Steel Alloys 5.9% Mine Production 2020 100t 500t 1,000t 1,000t 2,000t 2,700t 3,000t Burundi Brazil Other Vietnam SEARCHLIGHTRESOURCES.COM Russia Thailand 140,000t 38,000t 30,000t 17,000t 8,000t India US Myanmar Australia Madagascar Note that this data shows no production or reserves in Canada, as it is largely unexplored for rare earth elements, though very similar in geology to those countries with enormous reserves. Searchlight has found deposits in northern Saskatchewan- China With China's established reserves and high production, and Canada's clear lack of established reserves, exploration is key in reducing the vulnerability of North American supply of rare earth elements. Recently, both the USA and Canada have undertaken measures to stimulate domestic production and refining via budgets and establishing new Acts. Along with the support via the USA Inflation Reduction Act, 2 there are provisions to prefer North American supply over those coming from China which would in turn drive future production and in turn, exploration. 1 https://www.mining.com/web/rare-earth-elements-where-in-the-world- are-they/ 2 https://www.whitehouse.gov/briefing-room/statements- releases/2022/08/15/by-the-numbers-the-inflation-reduction-act/ SEARCHLIGHT RESOURCES 10.3% 80 SCLT TSXV#9Searchlight's Saskatchewan Exploration Targets for Critical Metals and Rare Earth Elements (REEs) 1 H 3 Hydrogen Li Lithium 4 Be Be yllium Na Mg Potassium Calcium 38 SSC Rb Sr Rubidium Strontiur Yttrium 5 6 7 8 9 B C N Boron Carbon 13 A P 14 Nitrogen 15 Oxygen S P 17 FL orine Զ Germanium Arsenic Selenium Bromine 50 50 Tin Tellurium lodine 2 He 10 18 Helium Ne Neon Ar Xe Sodium 19 Magnesium 20 Aluminum Silicon Phosphorus Sulfur 21 2 23 24 25 26 27 28 29 3 31 32 33 Chl 35 Argon 36 K Ca Sc Ti Cr Mn Fe Co Ni Cu Ga Ge As Se Br Kr Scandium Titanium 37 39 0 Vanadium 41 42 Chromium Manganese Iron 43 Cobalt Nickel Copper Zinc Gallium 44 49 51 52 53 Kryptonite 54 Y Zr Nb Mo TC Ru Rh Pd Ag Cd In Sn Sb Te irconium Niobium Palladium Silver Cadmium Indium Antimony 55 57-71 2 73 78 79 80 81 82 83 84 Ta W Re Os Ir Pt Au Hg TI Rb Cesium Tantalum Iridium Platinum Gold 87 88 105 109 110 111 Mercury Tha 112 Lead Bismuth Polonium Astatine 113 114 115 116 117 118 Fr Db Sg Bh Hs Mt De Rg Ts Og Radium Series therfordium Dubnium Seaborgium Bohrium Hassium Tennessine Oganesson 56 Cs Ba REE Hf Barium Lanthanides Hafnium 89-103 04 Ra Actinide Rf Francium Molybdenum Technetium Ruthenium Rhodium 74 75 76 77 Tungsten Rhenium Osmium 106 107 108 85 Po At Cn Nh Fl Mc Lv eltnerium Darmstadtium Roentgenium Copernicium Nihonium Flerovium Moscovium Livermorium 86 Rn Radon Copper at Wapawekka and Duddridge Lake Nickel at Reef Lake Rare Earth Elements at Kulyk Lake, Miller Lake, Bear Lake Uranium at Kulyk Lake and Duddridge Lake 6 57 58 59 60 61 62 63 64 16¢ 66 67 68 69 70 71 Rare Earths La Ce Pr Nd Pm Sm Eu Gd Tb Dy Ho Er Tm Yb Lu Lanthanum Cerium Praseodymium Neodymium Promethium Samari Europium Gadolinium Terbium Dysprosium Holmium Erbium Thulium Ytterbium Lutetium 89 90 91 92 93 95 96 97 98 99 100 101 102 103 Actinide Series Ac Th Pa U Np Pu Am Cm BK Cf Es Fm Md No Lr Actinium Thorium Protactinium Uranium Neptunium Plutonium Americium Curium Berkelium Californium Einsteinium Fermium Mendelevium Nobelium Lawrencium SCLT TSXV SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#10Rare Earth Elements in Context of Critical Minerals The 'Criticality' of Rare Earth Elements, or REE, lies in the multiple uses for the materials required in the transition to a greener world, as well as the necessity of the materials in all modern technology. Rare Earth Elements are essential materials in the manufacture of permanent magnets, batteries, and are a part of nearly every piece of modern technology utilized today. Rare Earth Elements Battery Specialty Photovoltaic Ge Ga Nb In Bi Te Sb Rb Ni He Silicon W Be Ta As PGE Hf coking coal Rh Zr Cs Sc Li fluorspar phosphate rock potash borate Critical Co Mg metal REE graphite barite Mn Cr Sr Sn PAI Ti U Magnet Simandl, L., Simandl, G. J., & Paradis, S. (2021). Economic Geology Models 5. Specialty, Critical, Battery, Magnet and Photovoltaic Materials: Market Facts, Projections and Implications for Exploration and Development, Geoscience Canada, 48(2), 73-91. https://doi.org/10.12789/geocanj.2021.48.174 SCLT TSXV 10 SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#11Monazite - The Most important Ore Mineral for Rare Earth Elements Monazite is an important ore for rare earths including, lanthanum, cerium, neodymium dysprosium, and praseodymium ➤ Monazite is a resistant mineral that can be concentrated in beach sands ➤ Shipping monazite concentrate globally can be complex as it is defined as a hazardous material ➤ Saskatchewan provides a significant competitive advantage for monazite mining and processing ➤ Because Monazite contains Thorium - a radioactive element - it can, and has been detected in radiation surveys, like the ones conducted by Searchlight in 2022. 11 SCLT TSXV SEARCHLIGHTRESOURCES.COM Monazite-(Ce), (Ce, La, Nd, Th) POд the most common member SEARCHLIGHT RESOURCES#12Searchlight Resources: Latest Rare Earth Elements Assay Results Exceptional results from rare earth oxides assays. completed at the Saskatchewan Research Council Lab from three samples closely resembling this massive monazite from the Fanta Trench near Kulyk Lake, in North Central Saskatchewan, come in at 10 times the previous results of any in the district. Additionally, these assays show results approaching the theoretical maximum concentrations of rare earth oxides possible in the mineral monazite Significantly for both investors and community members, these are results from a showing near existing mine infrastructure, roads, and in a district with a new rare earth processing facility set to begin operation in early 2023, in Saskatoon, SK. McKeough, M. A., Lentz, D. R., McFarlane, C. R., & Brown, J. (2013). Geology and evolution of pegmatite-hosted U-Th±REE-Y-Nb Mineralization, Kulyk, Eagle, and Karin Lakes region, Wollaston Domain, northern Saskatchewan, Canada: examples of the dual role of extreme fractionation and hybridization processes. Journal of Geosciences, 58(4), 321-346 12 SCLT TSXV SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#13Rare Earth Elements in World and Markets: Neodymium Neodymium Jumps Mid-2021 and Climbs into 2022 120 Neodymium Price (USD/Pound) 100 80 60 40 20 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2 13 SCLT TSXV SEARCHLIGHTRESOURCES.COM On Critical Mineral Lists Worldwide Neodymium is deemed a 'critical mineral', in the world's most economically advanced nations; and it is used in the alloys for numerous products - most significantly, in 'greener technology'. The criticality of the supply of rare earth elements (REE) is clear, and the demand for REES such as neodymium continues to rise. Demand forecast to rise 11x by 2030 1https://en.wikipedia.org/wiki/Neodymium#/media/File:Neodymium2.jpg 2https://www.dailymetalprice.com/metalpricecharts.php?c=nd&u=lb&d= 2400 3https://read.oecd-ilibrary.org/environment/material-resources productivity-and-the-environment/rare-earth-elements- factsheet_9789264190504-15-en#page1 SEARCHLIGHT RESOURCES#14Rare Earth Elements in World and Markets: Neodymium Neodymium Jumps Mid-2021 and Climbs into 2022 120 Neodymium Price (USD/Pound) 100 80 60 40 20 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2 14 SCLT TSXV SEARCHLIGHTRESOURCES.COM Demand for Neodymium in Current and Future Green Technologies Used in the manufacture of powerful, permanent magnets, neodymium alloys are utilized in products from speakers, headphones, and computer hard disks with larger magnets used in hybrid cars and in aircraft and turbine generators. Additionally, neodymium is used for glass production and lasers in medicine and defense technologies. 1https://en.wikipedia.org/wiki/Neodymium#/media/ File:Neodymium2.jpg 2 https://www.dailymetalprice.com/metalpricecharts. php?c=nd&u=lb&d=2400 3 https://en.wikipedia.org/wiki/Neodymium 3 SEARCHLIGHT RESOURCES#15SCLT in Saskatchewan Canada's Top Mining Jurisdiction Advantages for Searchlight in Saskatchewan include: Established mining infrastructure ✓ The right geology for world-class deposits ✓ Government welcomes mining ✓ Saskatchewan is a politically stable region ✓ Companies and workforce are experienced in mining and exploration Many Indigenous communities have development corporations ready to partner with resource companies BEAR LAKE (REE) MILLER LAKE (REE) KULYK LAKE (REE, U) DUDDRIDGE LAKE (U, Co, Cu,V) La Ronge (Au, Cu, VMS) WAPAWEKKA Stony Rapids Prince Albert Saskatoon 15 SCLT TSXV SEARCHLIGHTRESOURCES.COM Regina REEF LAKE (Ni, Cu) FLIN FLON NORTH (Cu, Zn, Au) Flin Flon BOOTLEG LAKE/ ROBINSON CREEK (High Grade Au) HANSON LAKE (Be, Ga, Rb, Ce, Sn, Li SEARCHLIGHT RESOURCES#16Significance and Characteristics of Wollaston Domain The Wollaston Domain is a belt of crystalline basement rocks underlying the uranium mines in the eastern Athabasca Basin. Searchlight's targeting and logic in exploring the Wollaston Domain follows airborne and radiometric geophysical surveys, and stems from their understanding of the area's rocks formation. Rare Earth Elements are present in sample assays, furthering Searchlight's focus on the Wollaston Domain as a highly prospective zone in the significantly under-explored region, away from the contact zone with the basin. Athabasca Basin KULYK LAKE Wollaston Domain DUDDRIDGE LAKE Phanerozoic Basin Searchlight Claims SCLT TSXV SEARCHLIGHTRESOURCES.COM Flin Flon 0 50 100 miles 1 LEGEND Searchlight Resources Cameco Rio Tinto Purepoint Uranium SkyHarbour Eagle Plains Transition Metals Other Claims kilometres SEARCHLIGHT RESOURCES#17Applications, & Results of Airborne Geophysics Surveys Historic Triple R Discovery and Airborne Geophysics Surveys • Airborne geophysics survey results were instrumental in locating the boulder field by outlining several uriniferous hot spots withing a 2.9 x 1.4 km wide area This radioactive boulder field contained massive to semi-massive Uranium oxide mineralized boulders. The survey was carried out by Special Projects Inc., of Calgary Alberta, Canada, using a proprietary system of innovative focused crystal arrays on a small fixed wing aircraft (Bingham, 2016). 2012 Outline of Mineralized Boulder Field 955 PL-3B PLS Mineralized Zones Patterson Lake WE 1.Km Using the same geophysics technology, Searchlight has located similar uranium hotspots at Kulyk Lake. Fission URANIUM CORP. 0 SCLT TSXV SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#18Looking for Uranium and Rare Earths at Kulyk Lake Because Uranium has a recognizable radioactive signature, prospecting in Seachlight claims begins with looking for that signature, along with the characteristic signature of Thorium, which is present with rare earth elements (REES). ➤Airborne geophysical and radiometric surveys in the Kulyk Lake revealed new zones, in close proximity to historical spots with data on Uranium and rare earth element presence. ➤Searchlight has further investigated both historic and new zones revealed in their airborne surveys are await the results of their sample assays. Legend SEARCHLIGHT RESOURCES Shaded Relief Map 2021 Airborne Survey Uranium (ppm) Searchlight Claims Historical Uranium, Thorium, REE Samples and Showings Lakes 0.338 0.150 0.123 0.108 0.097 0.088 2 0.081 H 0.075 Kilometres 0.070 New Uranium 0.065 0.061 Zone 0.056 0.052 0.049 0.045 0.041 0.038 0.034 0.030 0.026 0.022 0.017 0.010 0.000 Uranium (ppm) SCLT TSXV SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#19Kulyk Lake Results Show Uranium Indicators Provide New Targets . Radiometric survey indicates multiple uranium spikes over 2 km by 500 meter area, representing a high grade uranium boulder field or outcrop within one meter of surface (Similar results by Fission led to the Triple R discovery by Fission ten years ago.) There is no known Uranium mineralization previously recorded in the anomalous area, so it is a completely new target for further investigation. Red indicates new Uranium Zone Legend SEARCHLIGHT RESOURCES Shaded Relief Map 2021 Airborne Survey Uranium (ppm) Searchlight Claims Historical Uranium, Thorium, REE Samples and Showings Lakes 0.338 0.150 0.123 0.108 0.097 0.088 0 2 0.081 H 0.075 Kilometres 0.070 New Uranium 0.065 0.061 Zone 0.056 0.052 0.049 0.045 0.041 0.038 0.034 0.030 0.026 0.022 0.017 0.010 0.000 Uranium (ppm) Uranium 19 SCLT TSXV SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#20Ground Exploration for Uranium and Rare Earths at Kulyk Lake 20 20 SCLT TSXV SEARCHLIGHTRESOURCES.COM Guided to ground by airborne survey results from Searchlight's prospecting claims in the Kulyk Lake area, a geologist collects scintillometer readings before collecting samples to assay for uranium and rare earth elements (REEs). Summer of 2022. SEARCHLIGHT RESOURCES#2121 Pegmatites are potential sources of rare earths and uranium • Pegmatites are coarse crystalline granitic rocks that are rich in critical metals. Pegmatites are competent rocks which are easily quarried from surface deposits at low cost. At Kulyk Lake, a swarm of pegmatites are interleaved and comingled with the basement rocks extracting uranium and rare earths from those rocks forming hybrid pegmatite deposits. At Kulyk Lake, Searchlight has discovered pegmatites containing rare earths and uranium of potentially significant size. SEARCHLIGHT RESOURCES#22Saskatchewan Research Council (SRC) Rare Earth Processing Facility First of Its Kind in North America Rare Earth Processing Facility in 2023 President & CEO Mike Crabtree noted that Provincial funding will, "...continue advancing the production of rare earth elements (REE), as well as our capacity to move further down the value chain as we build a rare earth hub in Saskatchewan." This three stage Rare Earth Processing Facility is set to produce REE, including rare earth oxides and didymium metals for sale on international markets in 2024. https://www.businessinsider.com/tare-earth-metals elements what they are-2019-6S Department of Agriculture/Peggy Greb https://www.saskatchewan.ca/government/news-and-media/2022/june/23/government-of-saskatchewan-provides-additional-funding-for-src-rare-earth-processing-facility-expans 22 SCLT TSXV SEARCHLIGHTRESOURCES.COM SEARCHLIGHT RESOURCES#23Bootleg Lake Claims, Searchlight's Flagship Gold Project Attractive and Adjacent to Infrastructure ➤ 52 square kilometres of claims Main claim blocks in good standing until 2040 Searchlight holds 75% ownership ➤ Road access to Creighton and Flin Flon Electrical power runs through claims ➤ Municipal water at northern edge of claim block Flin Flon is a major mining centre with the required mining infrastructure Airport in Flin Flon with regular scheduled flights Skilled workforce with local training centre ➤ 4 Sites to feed a central mill 23 SCLT TSXV SEARCHLIGHTRESOURCES.COM Newcor 777 Flin Flon Creighton Wekach O Rio Mine O Henning Maloney Phantom Beach Phantom Lake 4.09 km SEARCHLIGHT RESOURCES#24Capital Structure STOCK SYMBOLS SHARE STRUCTURE Shares Outstanding: 132,492,734 Options Outstanding: 10,700,000 Warrants Outstanding: 38,237,754 Fully Diluted: 181,430,488 Management: 7% TSX.V: SCLT US: CNYCF FSE: 2CC2 As of June 16, 2022 24 SCLT TSXV SEARCHLIGHTRESOURCES.COM 52 Week Range: $0.055 to $0.14 Market Cap: ~$9 million SEARCHLIGHT RESOURCES#25SEARCHLIGHT RESOURCES 408 1199 West Pender Street, Vancouver, BC V6E 2R1 604.331.9326 [email protected] searchlightresources.com TSX.V:SCLT US:CNYCF FSE:2CC2