Signature Resources Ltd. — Capital/Financing Update 2021

Jul 14, 2021

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1. Name and Address of Company Signature Resources Ltd. (“ Signature ” or the “ Company ”) 366 Bay Street, Suite 200 Toronto, ON M5H 4B2

Item 2. Date of Material Change

July 9, 2021

Item 3. News Release

Press release issued by the Company on July 12, 2021, via a Canadian news wire service, a copy of which was filed via SEDAR.

Item 4. Summary of Material Change

The Company announced that it had closed an over-subscribed non-brokered private placement (the “ Offering ”) for aggregate gross proceeds of $3,906,492.

Item 5. Full Description of Material Change

The Company announced that it had closed the Offering effective July 9, 2021 by issuing 13,107,312 non-flow-through units (the “ NFT Units ”) and 10,965,591 flow-through units (the ” FT Units ”) for aggregate gross proceeds of $3,906,492. The Offering included Commodity Discovery Fund out of the Netherlands and was further bolstered by additional support from existing shareholders including funds managed by Sprott Asset Management LP and Crescat Capital.

Each FT Unit was issued at a price of C$0.165 and was comprised of one common share of the Company and one-half non flow-through common share purchase warrant (a “ FT Warrant ”) with an exercise price of C$0.25 per FT Warrant. Concurrently, NFT Units were issued at a price of $0.16 per NFT Unit consisting of one common share and one-half common share purchase warrant (a “ NFT Warrant ”) with an exercise price of C$0.22 per NFT Warrant. Both the FT Warrants and the NFT Warrants expire two-years following the closing date of the Offering.

The net proceeds from the Offering will be used for general corporate purposes but primarily used to expand the current exploration efforts focused on the Lingman Lake Gold Project.

In connection with the Offering, Cormark Securities Ltd. and Amvest Capital (acting though Four Points Capital Partners, LLC) were paid finders fees. The Company paid aggregate cash finder’s fees of $101,500 and issued 782,443 finder’s warrants (each, a “Finder’s Warrant”). Each Finder’s Warrant is exercisable to acquire one Common Share at a price of $0.16 (for Finder’s Warrants issued pursuant to the sale of HD Units) and $0.165 (for Finder’s Warrants issued pursuant to the sale of FT Units) for a period of 12 months following closing of the Offering.

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All securities issued pursuant to the Offering, including the Finder’s Warrants, are subject to a statutory hold period ending November 10, 2021. The Offering is subject to final acceptance of the TSX Venture Exchange.

Item 6. Reliance on Subsection 7.1(2) of National Instrument 51-102

Not Applicable.

Item 7. Omitted Information

No information has been omitted from this material change report.

Item 8. Senior Officer

The following senior officer of the Company is knowledgeable about the material change and the Material Change Report, and may be contacted by the Commission as follows:

Walter Hanych, Chief Executive Officer Telephone: 705-445-0185 Facsimile: 647-724-0068 Internet: www.signatureresources.ca

Item 9. Date of Report

July 14, 2021

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