Signet Minerals Inc.
TSX VENTURE : SGN

Signet Minerals Inc.

October 26, 2005 08:30 ET

Signet Minerals Inc.: Curie Uranium Project

COMOX, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2005) - Signet Minerals Inc. (TSX VENTURE:SGN) is pleased to update exploration activities on the Curie project in the Yukon. In August 2005, the Company conducted a reconnaissance spectrometer and prospecting survey, as well as a reconnaissance gravity survey, over the property and immediate area. In September, the Company staked additional claims to cover targets identified by the reconnaissance programs, and conducted additional reconnaissance gravity surveying to better define a number of targets. Encouraging results lead to the staking program being substantially expanded in October.

A total of 27 grab samples of altered and/or radioactive float and bedrock were collected in



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Partial Digestion Total Digestion % Uranium % U3O8 %U3O8
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ppm U ppm U Calculated Calculated Assay
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450000 463000 46.3 54.58 54.3
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71000 74000 7.40 8.72 9.02
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6150 7040 0.70 0.83
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5670 6120 0.61 0.72
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4640 5410 0.54 0.64
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3650 3700 0.37 0.43
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1840 2600 0.28 0.33
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1860 1900 0.19 0.22
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825 850 0.09 0.10
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0.66 560 0.06 0.07
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526
----
197
----
7.01
----
4.78
----
2.90
----
2.42
----
2.41
----
2.24
----
2.18
----
2.08
----
2.03
----
1.88
----
1.35
----
1.18
----
0.89
----
0.66
----
0.20
----


August for analysis by SRC Geoanalytical Laboratories, Saskatoon. Significant uranium results were obtained from 37% of the samples. The highest assay (54.3 % U3O8) was obtained from a grab sample of outcropping, sheared and hydrothermally altered, quartz-feldspar-chlorite veined fine grained sediments. The highly radioactive sample contained crystalline brannerite and a fine grained dark material possibly pitchblende. The second highest assay (9.02 % U3O8) came from a grab sample of radioactive quartz-feldspar veined float material with chlorite selvages. The sample exhibited carnotite stain. The remaining samples, all grabs, were obtained from samples of float material similar to the above as well as hydrothermally altered, fine grained sediments exhibiting layers/laminae rich in chlorite, sericite or feldspar. Several contained malachite.

The Curie project is located in the Wernecke Supergroup within the Richardson Anticlinorium. The project area was last explored in 1977-79 for unconformity and sediment related uranium deposits. This work identified radioactive surface showings, radioactive float trains, and substantial radon and uranium geochemical anomalies in soils. The best result was 4.5% U3O8 over 0.6 meters (Yukon Minfile 106E31). The better mineralization is structurally controlled in hydrothermally altered sediments. Uranium minerals identified by the Geological Survey of Canada ("GSC") include brannerite, urananite, uranophane, kasolite, metatorbernite and uraniferous opal. Reconnaissance drilling had poor recoveries ranging from 34.5% to 84.0% but two holes did intersect weak radioactive material (Yukon Minfile 106E31).

The project area is anomalous with respect to uranium in stream sediments (GSC Open File 338) and is structurally complex. Modern uranium exploration techniques including clay alteration studies have never been applied. The structurally controlled uranium mineralization may represent a high level expression of more substantial uranium mineralization at depth.

The project is considered prospective for high-grade, unconformity-related uranium deposits (Athabasca Basin style) as well as breccia complex (Olympic Dam/IOGC style) uranium deposits. The Igor project of Cash Minerals Ltd. lies approximately 10 kilometers to the south.

This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo, President of Signet Minerals Inc. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration program is being carried out.

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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