Signature Resources Ltd. to update progress on its NI 43-101 initial resource estimation effort for the 100%-owned Lingman Lake Gold Project in northern Ontario, Canada. Further to the previously issued update, over the course of working with Wood Canada Limited ("Wood"), and Watts, Griffis, and McQuat Limited ("WGM"), the Company had identified a low-cost opportunity to capture additional data to increase the quantity and quality of the geologic knowledge of the deposit underpinning the development of an initial resource estimate via an enhanced sampling and assay program. As a result, the Company embarked on a campaign of the additional sampling and assaying of a limited number of drill holes between the existing high-grade gold shear zones ("Intra-Zone").

Out of 30 holes sampled, 7 holes have newly identified low-grade mineralization and a number of higher-grade shoots. Intercept widths ranged from 1.0 to 2.0 metres. These newly sampled intervals collectively aimed to: Identify gold mineralization between the previously identified zones where no assaying had been conducted historically.

Collect and add new data to the geology database to aid and expand the geologic understanding and resource model. Demonstrate the potential for an expanded initial resource estimate by identifying the presence of a broader mineralized, near-surface, gold system beyond the extents of the existing high-grade zones. Improve the continuity of existing gold zones by filling gaps in the geologic database and resource model.

In anticipation of future drilling at the Lingman Lake Project, the Company advanced the development of camp infrastructure during 2021. Much of the work done during that period provides a degree of insulation from rising costs and supply issues in the exploration sector. Onsite exploration work, including drilling, can be started in a timely manner.

The Company has two 100%-owned diamond drills onsite along with an initial inventory of drilling consumables to support up to 10,000 metres of drilling. As the current drill extents of the Lingman Lake Project are shallow averaging about 200 metres downhole, a follow up drill program could capture an opportunity to materially grow the resource. Insiders have recently exercised options in support of the Company's continued efforts to add value to shareholders.