Searchlight Resources Announces Mr. Bruce Fair as New Director

VANCOUVER, January 18, 2022 - Searchlight Resources Inc. ("Searchlight" or the "Company") (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) is pleased to announce that Mr. Bruce Fair has joined the Board of Directors of Searchlight.

Robert Bruce Fair was born in Saskatoon, Saskatchewan. He attended high school in Nipawin, Saskatchewan and has an Honours degree in Political Science and English from the University of Saskatchewan obtained in 1981. Mr. Fair is President and founder of Mench Capital Corp., which was incorporated in Vancouver, BC on April 20th, 1999. Mench Capital Corp. is a Canadian merchant banking firm that provides corporate finance & financial consulting services and access to private or public capital to established, mid-market companies in order to achieve their vision. Mench Capital Corp. has participated in and/ or originated in the formation of in excess of $500M+ in private and public equity transactions over the past 22 years mainly focused in the Canadian Resource Industry - oil & gas & mining & Alternative Investment Products & Strategies.

Mr. Fair acted as Executive Vice President and Director for Maple Leaf Funds from 2009-2016, Executive Vice President & Director for Nationwide Self Storage Trust I, and as Regional Director, Western Canada for Next Edge Capital. Next Edge Capital is a Toronto based company with investment products in the alternative asset sector focused on private lending. Mr. Fair has previously served on numerous Boards as an independent Director including; Maple Leaf Flow-Through Limited Partnerships (2009-2016), Nationwide I Self Storage Trust, Maple Leaf Energy Income Limited Partnerships (2009-2016), Maple Leaf Royalty Corp, Richfield Ventures Inc., Orsa Ventures Corp., and Cliffmont Resources Ltd.

Mr. Fair currently acts as the President and CEO of Cordillera Minerals Group Ltd., an entity which creates and provides Investor's access to diversified portfolios of Canadian Junior Exploration Mineral Companies through a tax efficient structure. Mr. Fair is also the President & CEO of the Cordillera Minerals 2021 Flow-Through Limited Partnership

The Company announces that it has granted incentive stock options to officers, directors and consultants under its Stock Option Plan entitling them to purchase an aggregate of up to 2,475,000 common shares of the Company. The stock options are exercisable on or before January 14th, 2027, at a price of $0.10 per share.

About Searchlight Resources Inc.

Searchlight Resources Inc. (TSXV:SCLT; US:CYNCF; FSE 2CC2) 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. Exploration focus is on gold, uranium and battery minerals 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.

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.

SOURCE: Searchlight Resources Inc.