Signet Minerals Inc.
TSX VENTURE : SGN

Signet Minerals Inc.

March 24, 2006 08:30 ET

Signet Minerals Inc.: Vice-President Exploration Appointed

COMOX, BRITISH COLUMBIA--(CCNMatthews - March 24, 2006) - Signet Minerals Inc. (TSX VENTURE:SGN) is pleased to announce the appointment of Tracy Hurley P.Geo. as Vice-President Exploration. Ms. Hurley holds a B.Sc. in Geology and a M.Sc. in Economic Geology from McMaster University, as well as an MBA from the University of Saskatchewan. Ms. Hurley brings highly valuable expertise to Signet Minerals Inc. as it advances its portfolio of gold, uranium and base metal projects, and seeks additional high potential mineral projects for acquisition. In connection with the appointment stock options to acquire 100,000 common shares of Signet Minerals Inc., priced at market, have been granted to Ms. Hurley. The stock option grant is subject to regulatory approval. Signet has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the grant of the stock options.

During her 25 years in the industry, Ms. Hurley has worked as an exploration and mine geologist for a number of junior, mid-tier and senior mining companies across Canada including Cyprus Canada Inc., Newmont Mining Corporation, Lac Minerals Ltd. and Claude Resources Inc. She has also provided on-site supervision of multi-million dollar exploration programs in the far north (Nunavut) as well as on-site supervision of test mining and mine development projects in British Columbia and Saskatchewan. In the late 1990's, she worked as a Mining Analyst with a Vancouver-based brokerage house. In recent years she has worked as an independent professional geologist providing technical and corporate management services to mineral exploration companies.

Signet Minerals Inc. currently has on-going exploration programs on two of its 100% owned projects:

Curie uranium-gold project, Yukon: the Company has contracted McPhar Geosurveys Ltd. to fly a combined helicopter-borne magnetometer and electromagnetic survey over the project in April 2006. The 19,300 hectare project includes a minimum of 11 uranium showings and a number of drill targets have already been identified. A diamond drilling program is scheduled for early summer 2006. The project is considered prospective for high-grade, unconformity-related uranium deposits (Athabasca Basin style) as well as breccia complex (Olympic Dam/IOCG style) uranium deposits.

Golden Eagle project, British Columbia: high-grade intrusive hosted gold mineralization was intersected in widely spaced drill holes in October-November 2005. The goal of the next drill program will be to identify a large gold resource through follow-up of the significant drill results from 2005, and by testing as yet un-drilled surface gold mineralization. The project offers excellent discovery potential for large precious metal deposits including Pogo, Eskay Creek and Fort Knox-type deposits. Signet plans to resume diamond drilling when snow conditions permit.

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.

On behalf of the Board of Directors

KIERAN DOWNES

President

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