Signet Minerals Inc.
TSX VENTURE : SGN

Signet Minerals Inc.

June 08, 2006 08:30 ET

Signet Commences Fieldwork at Golden Eagle Gold-Silver Project

COMOX, BRITISH COLUMBIA--(CCNMatthews - June 8, 2006) - Signet Minerals Inc. (TSX VENTURE:SGN) is pleased to announce the commencement of fieldwork on its 8,700-hectare Golden Eagle gold-silver project in northwestern BC. Golden Eagle lies within the Tintina gold belt, just south of the Yukon-BC border and 70 kilometres west-northwest of Atlin, BC.

A field crew has commenced cutting an access trail to various parts of the property in preparation for a mapping and prospecting program and drill pad construction. The construction crew and geological staff will mobilize to the property shortly, and diamond drilling is scheduled to commence in early August. Aurora Geosciences Ltd. has been contracted to carry out the 2006 exploration program.

The Golden Eagle project offers excellent discovery potential for large precious metal deposits including Pogo, Eskay Creek and Fort Knox-type. Previous work programs confirmed the presence of high-grade gold mineralization in quartz + pyrite-arsenopyrite veins on the Tannis Block, and the presence of precious and base metals-rich skarns and possible volcanogenic massive sulphide zones on the Bennett Lake and Golden Eagle Blocks. Together these blocks span an area of some 10 kilometres in width and 25 kilometres in strike length.

Phase I of the 2006 exploration program will include further drilling on the Tannis Zone, where limited drilling in 2005 demonstrated the presence of high-grade, intrusive-hosted gold mineralization over a strike length of 100 metres and to a depth of approximately 50 metres on both the T4 and T9 structures. The better drill intersections previously reported include 12.0 g/t gold over 3.5 metres on the T4 structure, which over its entire 13.0-metre width graded 3.4 g/t gold. On the T9 structure, 10.73 g/t gold and 104.72 g/t silver over 5.5 metres were returned within an 18.2 metre intersection that graded 3.34 g/t gold and 38.03 g/t silver. The subparallel T4 and T9 structures are 50 metres apart. The area is encompassed by a gold-in-soil anomaly that extends over a length of 1.2 kilometres with an average width of 200 metres. Induced Polarization (IP) geophysical surveys have outlined moderate to strong chargeability responses over known vein structures.

Diamond drilling is also scheduled for the Carbonate and Camp zones within the Golden Eagle Block. The Carbonate Zone is characterized by a quartz-carbonate stockwork coincident with a zone of high chargeability. The stockwork is variably mineralized with copper and gold and may represent a feeder for a volcanic massive sulphide (VMS) system. Coincident airborne electromagnetic (EM) responses and magnetic highs characterize parts of the zone. A chip sample of bedrock mineralization, coincident with the chargeability zone, returned 4.0% copper, 6.4 g/t gold and 16.6 g/t silver over 3.0 metres. At the Camp Zone, drilling will target the source of the exceptionally strong gold-in-soil anomaly (peak value of 18,000 ppb gold). At values greater than 200 parts per billion, the anomaly extends over a length of 1,000 metres with an average width of 400 metres.

A contingent Phase II program at Golden Eagle is planned to drill test multiple other showings on the property, including the Skarn, Cowboy and Plateau zones. For further information, visit the Company's website at www.signetminerals.ca.

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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