Searchlight Resources Announces Amendment to Milner and Basin Agreements
Searchlight Resources Announces
Amendment to Milner and Basin Agreements
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2025) - Searchlight Resources Inc.
(TSXV: SCLT) (OTC Pink: SCLTF) ("Searchlight" or the "Company") announces that it has signed an
amendment with Refined Metals Inc. ("Refined") on September 5, 2025 (the "Amended Agreement"), to
amend the option agreements dated August 6, 2024 (the "Agreement"), under which Refined has the
right to acquire an undivided one hundred percent (100%) interest in the Milner and Basin Properties
(the "Properties").
Under the terms of the Amended Agreement, Searchlight and Refined agree to extend the due dates of
the following:
I
.
the additional cash payments of $55,000 and $35,000, for the Basin and Milner properties,
respectively, from September 30, 2025, to September 30, 2026.
II
.
the exploration expenditures of $200,000 and $150,000, for the Basin and Milner properties,
respectively, from twenty-four months to thirty-six months, to August 6, 2027.
Searchlight will be issued 27,500 common shares in the capital of Refined (the "Shares"), in
consideration of the Amended Agreement. The Shares shall be issued within ten (10) business days of
receipt of the Canadian Securities Exchange ("CSE") approval of this Amended Agreement.
Searchlight also holds a 2% net smelter return royalty on each of the properties, 1% of which may be
repurchased by Refined for CA$1,000,000.
"We are pleased to continue our partnership with Refined to advance the Basin and Milner uranium
properties, and look forward to successful exploration on both projects," stated Stephen Wallace,
Searchlight's CEO. "Searchlight will continue to focus on the Company's other exploration projects,
including Bootleg Lake, which includes 4 past-producing gold mines, and Robinson Creek, with an Initial
Exploration Target of between 77,000 and 154,000 ounces of gold."
Searchlight holds a wide portfolio of 100%-owned Gold, Uranium, Copper and Rare Earth exploration
projects in Saskatchewan. The projects range in exploration stage from grassroots, through to advanced
exploration, past-producing mines, and properties with NI43-101 resources.
Searchlight Resources Projects Available for Option in Saskatchewan
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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. Searchlight is a hybrid exploration company,
combining skilled project-generation with modern exploration, focusing on battery minerals and gold
throughout the province.
Qualified Person
Stephen Wallace, P.Geo., 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.
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, Chairman
(604) 331-9326
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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