Signature Announces Extension to Private Placement

Not for distribution to U.S. news wire services or dissemination in the United States

SIGNATURE RESOURCES LTD.

SIGNATURE ANNOUNCES EXTENSION TO PRIVATE PLACEMENT

FOR IMMEDIATE RELEASE October 17, 2018

Toronto, Ontario, October 17, 2018 – Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF)

(“ Signature” or the “ Company ”) announces the extension of its previously-announced non-br okered private

placement of non-flow-through units, flow-through shares, and flow-through units for aggregate gross proceeds

of up to $1,500,000 (the “ Offering ”) until November 15, 2018. Additional details regarding the Offering can be

found in the Company’s news releases dated May 15, 2018, June 25, 2018 and July 26, 2018.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor

shall it constitute an offer, solicitation or sale in any jur isdiction in which such offer, solicitation or sale is

unlawful. These securities have not been, and will not be, regi stered under the United States Securities Act of

1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S.

persons unless registered or exempt therefrom.

About Signature

The Lingman Lake gold property consists of four free-hol d patented 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 property hosts an historic estimate of 234,6 84 oz of gold* 1,063,904 tonnes grading 6.86 g/t with

2.73 gpt cut-off) and includes what has historically been refer red to as the Lingman Lake Gold Mine, an

underground substructure consisting of a 126.5-meter shaft, and three levels of development at debts of 46-

meters (150 Level), 84-meters (275 Level) and 122-meters (400 Level).

*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- compliant mineral resource estimate. Establishing a

current mineral resource estimate on the Lingman Lake deposit wil l 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 Property”

dated December 20, 2013, prepared by Walter Hanych, P.Geo., and Fr ank Racicot, P.Geo., available on the

Company’s SEDAR profile at www.sedar.com

To find out more about Signature Resources Limited, visit o ur 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 statemen ts which are not statements of historical fact. For ward-looking

statements include estimates and statements that de scribe the Company’s future plans, objectives or go als, including

words to the effect that the Company or management expects a stated condition or result to occur. Forw ard-looking

statements may be identified by such terms as “beli eves”, “anticipates”, “expects”, “estimates”, “may” , “could”,

“would”, “will”, or “plan”. Since forward-looking s tatements are based on assumptions and address futu re 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 inform ation could

cause actual events, results, performance, prospect s and opportunities to differ materially from those expressed or

implied by such forward-looking information. Forwar d looking information in this news release includes , but is not

limited to, the completion, proceeds, and use of pr oceeds of the Offering, the Company’s objectives, g oals or future

plans, statements, exploration results, potential m ineralization, 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 fro m 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 inabil ity to complete a feasibility study which recommend s a production

decision, the preliminary nature of metallurgical t est results, delays in obtaining or failures to obt ain required

governmental, environmental or other project approv als, 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, c hanges in exchange rates, fluctuations in commodity prices, delays

in the development of projects, capital and operati ng costs varying significantly from estimates and t he 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 beli eves that the assumptions and factors used in prepa ring the

forward-looking information in this news release ar e reasonable, undue reliance should not be placed o n such

information, which only applies as of the date of t his news release, and no assurance can be given tha t such events

will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation t o update or

revise any forward-looking information, whether as a result of new information, future events or otherwise, other than

as required by law.