Signature Resources Ltd. updated progress on its NI 43-101 initial resource estimation effort for 100%-owned Lingman Lake Gold Project in Ontario, Canada. Since engaging the services of Wood Canada Limited ("Wood"), formerly Amec Foster Wheeler, to complete the previously announced initial NI 43-101 mineral resource estimate for the Lingman Lake Gold Project, substantial work has been completed and has contributed to an improved understanding of the Lingman Lake deposit. Current activities include: Finalizing the compilation of the drill and assay database 3D geologic modelling and analysis Identification and analysis of gaps and opportunities to improve the completeness of the assay database to support geological interpretation and the resource estimate Engaging Watts, Griffis, and McQuat Limited ("WGM") to provide supplemental assistance and peer review with the initial resource Initial Resource Update.

Resource estimation by its nature is an iterative process. The initial work has revealed areas requiring additional data to further improve the understanding of the Lingman Lake gold mineralization. Initial work has further indicated that a small portion of historical assays are not to NI 43- 101 standards.

As a result of these recommendations, the Company is currently engaged in additional assay and site work intended to advance the initial resource estimation. Completion of this work is expected to allow the Company to publish an initial resource in H2/22. Signature expects that upon the completion of the initial resource estimate that it should have a strong technical plan for advancing a successive round of exploration that concurrently will aim to expand the resource envelope and address gaps within the current drill database; thus, supporting timely updates to the resource model.

The emerging geological model is expected to ultimately serve to guide near-deposit exploration at the Lingman Lake Project and improve ability to prioritize the numerous regional exploration targets along the 32-kilometre Lingman trend. Poised for Further Shallow Pit Resource Expansion. In anticipation of future drilling at Lingman Lake, 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 provides an opportunity to grow the resource.