Geophysical Linear Defines Distinct New Second Horizon with Multiple High Priority Targets

SIGNATURE RESOURCES LTD.

GEOPHYSICAL LINEAR DEFINES DISTINCT NEW SECOND HORIZON WITH MULTIPLE HIGH

PRIORITY TARGETS

FOR IMMEDIATE RELEASE May 24, 2018

Toronto, Ontario, May 24, 2018 – Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF) ("Signature" or

the "Company") is pleased to announce that it has received additional interpre tation of its airborne geophysical

data. The interpretation defines a new horizon (“South Horizon” ) with multiple high pr iority targets. The

geophysical response of the South Horizon is similar to that ob s e r v e d f o r t h e L i n g m a n L a k e g o l d m i n e r a l i z e d

zones, in both the Magnetic and VLF data. The South Horizon co ntains 6 high priority targets and, as was

previously reported, the North Horizon contains 12 high priorit y targets. The South Horizon collectively is 6.2

kilometers long and is separated from the 16 kilometers long North Horizon, by 900 meters.

Jeremy S. Brett of MPH Consulting Limited states: “Gold mineral ized zones at Lingman Lake display correlation

to both the Magnetic and VLF Electromagnetic components of the survey, as released May 2, 2018. A distinct

pattern was identified, consisting of a Matrix VLF-EM conductor lying immediately North of a prominent

Magnetic horizon. The VLF conductor is interpreted to be indic ative of fractured and faulted ground that may be

related to a hydrothermal fluid alteration corridor. The VLF co nductor is also coincident with weak and thin

Magnetic horizons that appear to be discontinuous, possibly ind icating alteration and magnetite replacement. These

characteristics appear consistent with those expected for alteration system that could relate to gold mineralization.

This pattern is repeated <1km to the South of the Lingman Lake gold mineralized zones, with ~3.5 kilometer of

sub-parallel strike length. The location of this new horizon, along the North flank of a prominent Magnetic high,

could indicate a repeat of the strain conditions observed for t he Lingman Lake gold zones. A possible extension of

this new zone lies to the Northwest, with ~2.7 kilometer of add itional strike length, and exhibits similarly

coincident VLF EM and Magnetic characteristics”.

An image of the Reconstructed Total Field Magnetics from the ai rborne survey is presented below highlighting key

areas identified:

Target classification definition: Target ranking is defined by correlation of Magnetic and VLF characteristics with

the known gold zones at Lingman Lake. Hence, an ‘A’ target has the strongest correlation, followed by ‘B’ and

‘C’. We fully anticipate lower ra nking targets to be identified as interpretation is on-going.

“This interpretation is very exciting. Not only do we have a n ew horizon defined, but it contains 6 high priority

targets. In total we now have 18 high priority targets for expl oration with correlations to the Lingman Lake gold

zones. The survey clearly demonstrates that the structures asso ciated with gold mineralization within the immediate

mine area at Lingman Lake extend beyond current known limits. T he Lingman Lake property continues to produce

gold targets associated with di strict scale exploration project s. At suc h a scale, the di scovery of ne w m ineralized

gold zones is enhanced, especially if you have 18 high priority targets. Furthermore, the west section of the property

remains to be looked at, and we are very confident it also will produce some interesting results.”, commented Walter

Hanych, President and CEO of Signature Resources.

Qualified Persons

The scientific and technical content of this press release has been prepared, reviewed and approved by Jeremy S.

Brett, P.Geo., Senior Geophysical Consultant with MPH Consultin g Limited, an established international

exploration and mining consulting company with its head office in Toronto, Ontario, and Walter Hanych, P.Geo.,

President-CEO of Signature Resou rces. Both are Qualified Person s as defined in National Instrument 43-101 -

Standards of Disclosure for Mineral Projects.

About Signature

The Lingman Lake gold property c onsists of four free hold paten ted claims and 762 single cell staked claims. Total

land package amounts to 15,372.3 hectares. 275.5 hectares of the property total include 14 mineral rights patents, the

acquisition closing of which is pending Exchange approval. 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 cons isting 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 no t done sufficient work to verify the classification of the mine ral

resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI

43-101-compliant mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will

require further evaluation, whi ch the Company and its consultan ts intend to complete in due c ourse. Additional information

regarding historical resource est imates is available in the tec hnical report entitled, “Technica l Report on the Lingman Lake

Property” dated December 20, 2013, prepared by Walter Hanych, P.Geo., and Frank Racicot, P.Geo., available on the Company’s

SEDAR profile at www.sedar.com 

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

Walter Hanych

Chief Executive Officer

705.445.0184

Cautionary Notes

Neither 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 te rms as “believes”, “anticipates”, “ expects”, “estimates”, “may”, “could”,

“would”, “will”, or “plan”. Si nce 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, pros pects 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. Factors that could cause actual results to differ

materially from such forward-looking information include, but are not limited to 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, ca pital and operating costs va rying 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 Compan y 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 disclaims any intention or obligation

to update or revise any forward-look ing information, whether as a result of new information, future events or

otherwise, other than as required by law.