Signet Minerals Inc.

Signet Minerals Inc.

May 17, 2006 08:30 ET

Signet Commences Airborne Survey at Curie Uranium-Gold Project

COMOX, BRITISH COLUMBIA--(CCNMatthews - May 17, 2006) - Signet Minerals Inc. (TSX VENTURE:SGN) is pleased to report that McPhar Geosurveys Ltd. has commenced a combined helicopter-borne magnetometer and electromagnetic survey over the Company's Curie uranium project. Located in the Wernecke Mountains, Yukon, the 20,000-hectare property is considered highly prospective for unconformity-style uranium and Iron Oxide Copper Gold (IOCG) deposits.

Thirteen uranium prospects/showings have been discovered in the project area to date, 11 of which were acquired by staking in fall 2005. Recent analysis of mineralized rock, soil and stream sediment samples from the property has shown similarities to both unconformity-type uranium mineralization in the Athabasca Basin and that associated with IOCG deposits. The property also hosts significant gold mineralization at the Pike prospect.

Aurora Geosciences Ltd. has been contracted to complete a mapping, prospecting and sampling program of all untested uranium and gold showings on the property. This work will commence in late May or early June, at which time preliminary geophysical data from the airborne survey will also be available for targeting areas for ground follow-up. A compilation of all geological, geochemical and geophysical data will be used to generate targets for a follow-up diamond drill program.

The results to date on the Curie project are highly encouraging, promising an exciting 2006 exploration season.

Tracy Hurley, PGeo, Vice President, Exploration and Qualified Person as defined by National Instrument 43-101 is responsible for the technical information provided in this release.

Statements in this press release may contain forward-looking statements. Except for statements of historical fact, all statements in this press release - including, without limitation, statements regarding future plans and objectives of the Company - are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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