"We are now in a position to rapidly deliver steady news-flow and shareholder value directly proportional to the number of meters we are able to fund and drill."

Robert Vallis

PRESIDENT AND CEO, SIGNATURE RESOURCES

April 07, 2022

Can you highlight some key milestones achieved at the Lingman Lake Gold deposit over the past year?

Our 100%-owned high-grade gold project presents a strong growth opportunity with 234,000 historical ounces grading at approximately 7 g/t as a start point, in the back yard of the Red Lake mining district. We have developed our exploration camp and all the logistics around it to be as low cost as possible, while operating 24/7. We own our two drills supported with our own drill crews and consumables as the industry is currently challenged with an approximate four to six-month delay on attaining consumables. We experienced some challenges in the summer with wildfires in the region shutting down operations but managed to reclaim the lost time quickly to restart drilling in September 2021. We raised over US$5.5 million in 2021, which has gone towards significant regional and local geophysical data collection for optimal drill targeting, positioning our drill camp to operate 24/7 with two rigs, and starting a 10,000 m drill campaign. We are now in a position to rapidly deliver steady news-flow and shareholder value directly proportional the number of meters we are able to fund and drill.

Can you elaborate on Signature’s current balance sheet and the company’s financing strategy?

Signature will be looking to add fuel to our tanks before the end of 2021 to maintain the drilling momentum into 2022. We have several warrants due early December 2021, which we expect to provide further buoyancy in our share price. Our financial strategy going into 2022 continues to be to financially maintain drilling and regional exploration efforts at our installed capacity as consistently as possible to maximize in-situ gold ounce growth, advancement towards additional discoveries, and its overall value delivery to shareholders.

Can you elaborate on the connectivity and ease of access to the Lingman Lake project?

The Lingman Lake project is located approximately 40 km East of Sachigo Lake First Nations in Ontario and 55 km from Red Sucker Lake First Nations in Manitoba. Power infrastructure development into Northwestern Ontario communities continues over the next two years according to current published planning. Mining projects and communities lying within these areas are poised to benefit greatly from this infrastructure development. I believe that this development acts as a unifier between mining projects and nearby communities and paints a picture of an exciting, viable future for the communities and mineral industry in this jurisdiction.

What is your outlook for the fundamentals of gold for the next few years?

Global spending is increasing despite a severely constrained global supply chain that is driving inflation up while other parallel risk factors have also gone up proportionally, including new variants of Covid and China-US relations. Many other risk elements are steadily coming into play too such as increasing extreme weather events. Our project experienced this first-hand this past summer with the regional wildfires and drought. All these risks ripple through and into all industries, including mineral exploration. Global risk keeps ratcheting up and I think that at some point soon the gold price will start moving again in an upward trend in tangent with this rising risk fundamentals.

If you had to place your confidence in gold equities vs. gold bullion, which will you choose and why?

I believe the fundamentals supporting higher gold price underpins the view on the value of gold equities. If we take this view and agree that there is an optimistic path forward for the gold price, then gold equity values depend directly on the performance of said equities to deliver value to the market rapidly and in the most meaningful, sustainable way. If you identify a gold company which is positioned for value growth success and can deliver results consistently, then you have a strong case for a gold equity investment. I believe there is a strong investment case for junior gold exploration equities that can move up the mountain of growing value generation and prompt delivery and Signature Resources checks all these boxes.

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