Signature Resources Ltd. Announces Results of 2022 Annual General & Special Meeting of Shareholders and Grant of Stock Options

Toronto, Ontario--(Newsfile Corp. - May 27, 2022) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE 3S3) ("Signature" or the "Company") is pleased to announce the results of voting at its annual general and special meeting of the shareholders which was held May 26, 2022 (the "Meeting"). All matters submitted to the shareholders, as set out in the Company's Notice of Meeting and Management Information Circular, were approved by the requisite majority of votes cast at the Meeting.

Election of Directors

Shareholders approved the election of the seven (7) Directors as set out below:

Paolo Lostritto
Robert Vallis
Stephen Timms
Lisa Davis
Dan Denbow
John Hayes
Priya Patil

Appointment of Auditors

McGovern Hurley LLP, Chartered Professional Accountants was appointed auditors of the Company for the ensuring year at the renumeration to be fixed by the Directors.

Approval of the Share Consolidation

Shareholders approved the consolidation of the common shares on the basis of one (1) new common share for up to five (5) old common shares. The Board may, in its sole discretion, determine not to proceed with the Consolidation without further approval or action by or prior notice to shareholders.

Approval of Incentive Stock Option Plan

Shareholders approved the Incentive Stock Option Plan as set out in the Company's Management Information Circular.

Stock Options

The Company has also granted a combined total of 4,000,000 incentive stock options to the Board and Management of the Company. The options have an exercise price of $0.06, expire five years from the date of issuance, and vest 25% immediately, and 25% annually thereafter through to the third anniversary.

About Signature

The Lingman Lake gold property consists of 1,434 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths. There has been over 28,000 metres (177 drill holes) of historical drilling done on the Property.

To find out more about Signature Resources Ltd., visit our website at www.signatureresources.ca, or contact:

Donna McLean
Chief Financial Officer
416.642-1807 Ext. 307
info@signatureresources.ca

Cautionary Notes

Neither the 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 news release.

This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company discla ims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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