Signature Resources Grants Stock Options and Proposes 12-Month Warrant Expiry Extension

The proposed extension would leave outstanding warrants exercisable at $0.10 for another year, subject to exchange acceptance.

Rhea-AI Summary

Signature Resources (SGGTF) granted 4,250,000 incentive stock options to directors, management and advisors and proposed extending outstanding warrants by 12 months. The options have a $0.05 exercise price and expire five years from grant. They vest 25% immediately, with another 25% on each anniversary through the third anniversary, and are subject to the Option Plan and applicable regulatory approvals.

The proposed extension covers 23,497,229 outstanding warrants, moving expiry from October 30, 2026, to October 30, 2027, subject to TSX Venture Exchange acceptance. Each warrant remains exercisable for one common share at $0.10; other terms remain unchanged. Related parties hold 5,043,215 of these warrants, making their extension a related-party transaction. The options are the only compensation provided to non-executive directors.

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Hollow bars mark forward-looking points. How the balance works

Positive

• None.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.4,250,000 incentive stock options granted at $0.05 create potential dilution over their five-year term.
• Moderate point. Forward-looking: it has not happened yet and may not happen.23,497,229 warrants proposed for extension to October 30, 2027, would prolong potential dilution at $0.10 per share.
• Minor pointWarrant expiry extension remains subject to TSX Venture Exchange acceptance.
• Minor pointGranted options remain subject to applicable regulatory approvals.

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Toronto, Ontario--(Newsfile Corp. - October 26, 2026) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S30) ("Signature" or the "Company") is pleased to announce that the Board of Directors has granted a combined total of 4,250,000 incentive stock options to the Board, Management and Advisors of the Company. In addition, the Company is announcing that, subject to acceptance by the TSX Venture Exchange (the "TSXV"), it intends to extend by 12 months the expiry dates of an aggregate of 23,497,229 outstanding common share purchase warrants of the Company.

Granting of Incentive Stock Options

The Board of Directors has granted an aggregate of 4,250,000 incentive stock options to directors, management and advisors of the Company. The options have an exercise price of $0.05 and expire five years from the grant date. The options vest 25% immediately, with an additional 25% vesting on each anniversary of the grant date through the third anniversary. The options are the only form of compensation provided to the Company's non-executive directors.

All options are subject to the terms and conditions of the Company's Option Plan and applicable regulatory approvals.

Extension of Warrant Expiry Date

On October 30, 2025, the Company announced the closing of a private placement pursuant to which it issued 58,358,095 common shares and 29,179,047 common share purchase warrants (the "Warrants"). See the Company's press release dated October 30, 2025, for further details. On April 24, 2026, 5,681,818 Warrants were exercised by a director and officer of the Company. Each Warrant is exercisable for one common share at an exercise price of $0.10 per share. A total of 23,497,229 warrants issued under the private placement remain outstanding and are scheduled to expire on October 30, 2026. The Company proposes to extend the exercise period by 12 months, to October 30, 2027.

Other than the proposed extension of the expiry date, all other terms and conditions of the warrants will remain unchanged, including the exercise price of $0.10 per common share. The proposed extension is subject to acceptance by the TSXV, and there can be no assurance that such acceptance will be obtained. None of the warrants proposed to be extended were issued to an agent, broker or finder as compensation for services.

A total of 5,043,215 warrants are held by persons who are "related parties" of the Company. Accordingly, the proposed extension of those Warrants constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and TSXV Policy 5.9 - Protection of Minority Security Holders in Special Transactions. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 on the basis that the fair market value of the transaction, insofar as it involves related parties, does not exceed 35% of the Company's market capitalization.

About Signature Resources Ltd.

The Company is a Canadian-based, advanced-stage exploration company focused on expanding the 100%-owned Lingman Lake gold deposit, located within the prolific Red Lake district in Northwestern Ontario, Canada. The Lingman Lake gold property (the "Property") consists of 25 single-cell and 159 multi-cell staked claims, four freehold fully patented claims and 14 mineral rights patented claims, totaling approximately 23,033 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 three levels at depths of 46 metres, 84 metres and 122 metres. More than 43,222 metres of drilling have been completed on the Property, along with four 500-pound bulk samples that averaged 19 grams per tonne of gold. The Company's initial mineral resource estimate was published in the report entitled "NI 43-101 Technical Report on the Lingman Lake Property," dated May 31, 2025, and prepared by Gehard Kiessling, P. Geo., Farshid Ghazanfari, P. Geo., Marin Drennan, P. Eng., Cameron Finlayson and Jeff Plate, CFA, P. Geo., of Watts, Griffis and McOuat Geological & Mining Consultants. The initial published mineral resource was estimated to contain 2.145 million tonnes of material grading 1.38 g/t Au, for an estimated 95,200 ounces in the indicated category, and 18.398 million tonnes of material grading an average of 1.14 g/t Au, for an estimated 674,320 ounces in the inferred category, at a cut-off grade of 0.30 g/t. The Company is focused on rapidly expanding the known mineralized envelope using its 100%-owned diamond drilling rigs. In November 2023, Wataynikaneyap Power energized a new 115 kV high-tension transmission line within 40 km of the historic Lingman Lake Mine (https://www.wataypower.ca/).

To find out more about Signature, visit www.signatureresources.ca or contact:

Dan Denbow
Chief Executive Officer
(800) 259-0150
info@signatureresources.ca

or contact :

Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

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 and global geopolitical events. 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 disclaims 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321038

FAQ

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What are the terms of Signature Resources' new stock options?

Signature Resources granted 4,250,000 options at an exercise price of $0.05, expiring five years from grant. They vest 25% immediately and another 25% on each anniversary through the third anniversary. The grants are subject to the Option Plan and applicable regulatory approvals.

When would Signature Resources' extended warrants expire?

The proposed expiry date is October 30, 2027, replacing October 30, 2026, for 23,497,229 outstanding warrants. The extension requires TSX Venture Exchange acceptance. Each warrant would remain exercisable for one common share at $0.10, with all other terms unchanged.

What shareholder approval exemptions does Signature Resources plan to use for the warrant extension?

Signature Resources intends to rely on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101. The stated basis is that the transaction's fair market value, insofar as it involves related parties, does not exceed 35% of the company's market capitalization.