Signature Resources Announces Appointment of Rickardo Welyhorsky as COO & Provides Lingman Lake Project Update - Seite 2

The Company has also granted 2,250,000 incentive stock options to Mr. Welyhorsky following his appointment. The options shall have an exercise price of $0.16, expire five years from the date of issuance, and shall vest 25% immediately, and 12.5% ever six months thereafter through to the third anniversary.

Project Updates
Signature is pleased to announce its continued progress at site with:

• completing the camp optimizations to safely and efficiently enable an upscaled targeted 10,000 metre diamond drill program commencing late August
• identifying and purchasing capital items for the ongoing operations at site
• previously announced geophysical programs to optimize local and regional targeting.
• the securing of the expanded drill crew with the previously announced acquisition of a second Signature-owned diamond drill rig
• building operating budget to facilitate transparency on spend requirements
• enhance the logistics for transport of equipment and personnel to site
• Nordmin Engineering continuing to work on converting the existing historical 234,000 oz gold resource dataset at the Project in preparation for completing the conversion to an NI 43-101 compliant resource estimate in 2022
• working on long term strategies for continued growth and optimization for site operations

About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,448 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.

*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com.