BUILDING A SIGNIFICANT GOLD PROJECT IN THE ASHANTI BELT

ObuasiObuasi Mine (AngloGoldMine (AngloGold Ashanti)Ashanti)

COMPANY PROFILE• West African gold company operating in the world class Ashanti Gold Belt of GhanaGold Belt of Ghana.

• Konongo Gold Project is 30kms along strike from +50Moz Obuasi deposit Ashanti Shear runs through the propertyObuasi deposit, Ashanti Shear runs through the property.

• Production Q1 2011 from 1.27 Moz JORC resource.

• Plant refurbishment 50% complete, on schedule and budget for December commissioning.

• Aim to expand to a +100,000 ounce per annum gold producer.

• Excellent drill results to date, exploration continues on site.

• Numerous drill‐ready targets testing repetitions of mineralisation.

• Experienced management team with track record of success and• Experienced management team with track record of success and adding value to projects.

TARGETS FOR KONONGO PROJECT

• Commence production Q1 2011– utilise existing CIL plant and JORC resources.

current spot gold price gives substantial– current spot gold price gives substantial operating margins.

• Aggressively explore to unlock thepotential of the Konongo Projectpotential of the Konongo Project– confirm Exploration Target of 1.5 ‐ 2.5

illi f i d ld 1million ounces of contained gold 1

– target depth/plunge extensions tohigh grade shoots

1 This Exploration Target is defined at the end of this presentation.

The Konongo Gold Projectis situated on the world class Ashanti Gold Belt of Ghana.

Located 200km NNW of theLocated 200km NNW of the capital Accra and 50km from regional centre Kumasi.

Ghana has a well established and successful gold miningand successful gold mining industry (9th largest gold producer globally).

Several giant deposits have been discovered and are beingbeen discovered and are being developed/mined in Ghana.

ON TRACK TO PRODUCTION

• 350ktpa CIL plant present on site along with major infrastructure (power, water, haul/service roads, accommodation, communications).

• Plant being refurbished at a fraction of the cost of a new plant.

L CAPEX f l t f l th US$5 illi• Low CAPEX for plant of less than US$5 million.

• Expansion to 700,000 tonnes per annum being examined.

• Project Manager resident in Ghana.

REFURBISHMENT OF PLANT 50% COMPLETE

AREA COMPLETED PENDING PROGRESS

MILL Rehabilitation and servicing of drive  Final testing, fabrication of new  75%system,  fabrication of new discharge chute, preliminary testing

access walkways

FINE ORE BIN New steel installed, hopper  Sandblasting and painting 90%modified and extended

CYCLONE Replace steel, fabrication ofnew walkways

35%

ADSORPTION TANKS

Repair of tanks Coating and painting 50%

LEACHING F b i ti f lk R fit d t ti f t 50%LEACHING Fabrication of new walkways, stripping of agitator motors

Refit and testing of motors, replacement of gratings, new piping

50%

ELECTRICAL Refurbishment of all control panels Replacement of cabling dials 40%ELECTRICAL Refurbishment of all control panels, servicing and testing of motors

Replacement of cabling, dials and motors found to be u/s

40%

CONVEYORS Replace conveyor belt, rubbers and rollers

10%and rollers

ELUTION New piping 0%

REFURBISHMENT OF PLANT 50% COMPLETE

Refurbishment commenced this month

• Refurbishment of plant on schedule and on budgetRefurbishment of plant on schedule and on budget.• Fully funded through first 3 months of production.• Commissioning anticipated December January• Commissioning anticipated December‐January.• First pour in January 2011.

PRODUCTION SCHEDULEAVAILABLE  SURFACE  FEED Tonnes  Grade (g/t)

Old Konongo Tails  448,500 1.66

Existing stockpiles/dumps1 150 000 5 0Existing stockpiles/dumps1 150,000 5.0

TOTAL 598,500 2.49

PRODUCTION Tonnes  Grade(g/t gold)

Recovered Ounces

Year 1 350,000 3.00 26,00050:50 blend of tails and stockpiles

Year 2after plant expansion & commencement of mining

700,000 2.50 40,000

commencement of mining

1The tonnage and grade presented does not currently conform with JORC reporting criteria however results clearly demonstrate the economic potentialof the stockpile/dump material. The grade is estimated from surface sampling of the stockpiles/dumps (300 samples). The tonnage is derived fromsurveying of the stockpiles and dumps and using an SG of 1.7.

FURTHER PRODUCTIONFROM OPEN PITTABLE RESOURCES

• Previous pits operated when gold price was less than US$300/oz.

• New oxide pits designed to mine extensions to BoabedrooSouth & Atunsu North.

• Optimising designs to achieve p g ghead grade >2.5g/t to plant.

• Successful 2010 drill campaignSuccessful 2010 drill campaign identified high grade material, resource upgrade underway.pg y

W T N D ?• 192km2 of granted tenure

WHERE IS THE NEXT DEPOSIT?

• Over 12 kilometres of mineralised strike along the world class AshantiGold Belt.

• Ashanti Shear runs through Project – limited drill testing.

• 16 known gold deposits within the project area hosted on Birimian Tarkwaian contactBirimian‐Tarkwaian contact.

• Repetitions of this contact have not been drillednot been drilled.

WHERE IS THE NEXT DEPOSIT?

BIRIMIAN – TARKWAIAN CONTACT : SIMILAR SETTING TO EXISTING RESOURCES

WHERE IS THE NEXT DEPOSIT?

• Intensive exploration programmeTO BE

(trenching, mapping, sampling)has already been successful.

AR Z

ON

E

2m at 39.8g/t

TO BETESTED

• New surface discoveries away fromknown mineralisation.AS

HA

NTI

SH

EA 54m at 0.22g/t 2m at 4.80g/t

• Drill testing of these is a priority.• Numerous drill ready targets in

8m at 3.84g/t22m at 1.52g/t

Numerous drill ready targets in similar geological settings to known mineralisation.

6m at 0.41g/t4m at 0.89g/t

2m at 11.7g/t2m at 4.24g/t30m at 0 24g/t

• Conceptual targets also to be tested.S l ld i il li till t

30m at 0.24g/t

• Several gold‐in‐soil anomalies still to be followed up.Rockchips to

14g/t gold

LIMITED DRILLING OF DIP/PLUNGE EXTENSIONS

1,000 METRES DEPTH

• Mining in parts of the Ashanti belt extends >1000 metres.• Current deposits have had little drilling below 100 metres.• Several resources outside main development areas are notSeveral resources outside main development areas are not drilled deeper than 50 metres.Above diagram shows a 2x vertical exaggeration long section showing all drill intercepts as gram*metre.

OBENEMASE DEPOSIT – PROVIDES BASEFOR EXPANSION 09KGDR003

4 t 10 5 /tFOR EXPANSION 4m at 10.5g/t

09KGDR00716m at 9.76g/t

09KGDR00114m at 5.44g/t& 3m at 10.4g/t

09KGDR00310 5 70 /

09KGDR00810m at 1 85g/t

10m at 5.70g/t

10m at 1.85g/t

2010 WORK PROGRAMME

• Plant refurbishment 50% complete,on schedule and budgeton schedule and budget.

• Production in January 2011.• Environmental studies progressing rapidly.

D illi t ft t• Drilling to re‐commence after wet season.• Fully funded – aggressivey gg

exploration to continue.

• Expansion studies underway• Expansion studies underway.

• Significant manganeseg gdiscovery to be evaluated.

COMPANY STRUCTURENo. Shares 

% Shares

(million)

Directors 82.1 6.0

Top 20 400.4 29.4

Total Sh 1,362 100.0Shares 1,362 100.0

Prior to 1 for 8 rights issues and placement of 323 million shares

• 52 week trading range: 0.6c to 5.5c

placement of 323 million shares

• Placement and rights issue to raise A$13.4 million.

• Market capitalisation at A$0.023: A$31 million

At an EV / resource ounce below A$25 per ounceSignature Metals is underpriced relative to other West AfricanSignature Metals is underpriced relative to other West African gold explorers, developers and miners listed on the ASX

)f con

tained

 gold)

Enterpr

AVERAGE EV/oz

ions of o

unces orise Value / Res

C Re

source (m

illsource O

unces (JORC

(A$)

MANAGEMENT TEAMBill Oliver (Managing Director) – Wide ranging exploration and resource development 

i i l di l di l d fi i i j f Ri Ti I Oexperience including leading large resource definition projects for Rio Tinto Iron Ore and grassroots exploration teams in Europe.  

Matthew Wood (Chairman) – Expertise in project identification, negotiation, acquisition and corporate development. 

Tim Flavel (Director) –Chartered Accountant/Company Secretary with over 20 yrs experience in mining industry & accounting profession in Australia & overseas.experience in mining industry & accounting profession in Australia & overseas.

Stuart Murray (Director) ‐ Chief Executive Officer of Aquarius Platinum Limited. Provides a wealth of African project development and operating experience. 

Roger Bannister (Project Manager) – Over 25 years of experience in operating, refurbishing and upgrading process plants in Australia, Africa, Europe and Asia. 

SUMMARY

• Proven management team.

• 1.27 Million ounce JORC Resource in the world class Ashanti Gold Belt of Ghanaworld‐class Ashanti Gold Belt of Ghana.

• Market cap of $31M = $24 EV/resource oz.Market cap of $31M   $24 EV/resource oz. 

• Considerable potential for resource growth.

• Past production of 1.6 Million ouncest 11 8 /t ldat 11.8g/t gold.

• 350ktpa CIL gold treatment plant on‐site.350ktpa CIL gold treatment plant on site.

AAPPENDICESPPENDICES

Recorded historical production of1 6 million ounces of gold at a1.6 million ounces of gold at ahead grade of 11.8 g/t gold.

Current JORC resources are19.6 million tonnes at 2.02g/t Au,

(Indicated and Inferred category)

over 1.27 million ounces of contained gold,g ,

which includes 568,000 ounces in Indicated categoryIndicated category

The Competent Person Statement relating to these Mineral Resources can be foundat the end of this presentation

RESOURCE TABLEDeposit Measured Indicated Inferred Total

Tonnes(t)

Grade(g/t Au)

Ounces Au

Tonnes(t)

Grade (g/t Au)

OuncesAu

Tonnes(t)

Grade (g/t Au)

Ounces Au

Tonnes(t)

Grade (g/t Au)

OuncesAu

Obenemase 3,267,000 3.08 323,605 1,739,000 2.37 132,695 5,006,000 2.83 456,300

Asieye 1,500,000 0.80 38,580 1,500,000 0.80 38,580

Kwakawkaw 344,000 4.31 47,675 344,000 4.31 47,675

Nyabo East 540,000 1.03 17,940 540,000 1.03 17,940

Patuo 128,000 1.43 5,905 445,000 1.19 17,045 573,000 1.25 22,950

Kyereben West 124,000 3.10 12,360 124,000 3.10 12,360

Aserewa 324,000 2.42 25,130 136,000 4.66 20,355 460,000 3.10 45,485

Atunsu 99,000 2.01 6,415 659,500 2.61 55,435 758,500 2.54 61,850

Apan 39,000 2.03 2,565 526,000 2.22 37,620 565,000 2.21 40,185

Leopard Shaft 95,000 7.55 23,070 95,000 7.55 23,070

Boabedroo 192,500 2.63 16,295 2,184,500 2.58 180,900 2,377,000 2.58 197,195

Akyenase Central 58,000 4.00 7,460 96,000 8.80 27,160 154,000 6.99 34,620

SantresoWest 3,520,000 1.20 135,810 810,000 1.25 32,555 4,330,000 1.21 168,365

Santreso South 340,000 1.16 12,680 340,000 1.16 12,680

Santreso East 700,000 1.27 28,610 700,000 1.27 28,610

Old Tailings Dam 1,177,000 1.19 45,050 575,000 0.87 16,100 1,752,000 1.09 61,150

Total 0 0 0 8,804,500 2.01 568,235 10,814,000 2.03 704,395 19,618,500 2.02 1,272,630

The Competent Person Statement relating to these Mineral Resources can be found at the end of this presentation

D SC & CO P SO SThis release contains certain forward‐looking statements. These forward‐looking statements are based on management’s expectation and beliefsconcerning future events. Forward‐looking statements are necessarily subject to risks, uncertainties and other factors, some of which are outside the

DISCLAIMER & COMPETENT PERSON STATEMENT

control of Signature Metals Limited, that could cause actual results to differ materially from such statements.

The Exploration Target presented in this release is conceptual in nature and relates to defined exploration targets/areas where mineralisation hasbeen identified but resources have not been delineated. The quantity and grade of the exploration target is based on past production records andcomparison with currently defined Mineral Resources contained within the project There has been insufficient exploration to define a Mineralcomparison with currently defined Mineral Resources contained within the project. There has been insufficient exploration to define a MineralResource in these areas (aside from the resources presented in the attached table) and it is uncertain if further exploration will result in thedetermination of a Mineral Resource different to the JORC‐Code compliant resource presented earlier. Signature Metals has an exploration strategy tosystematically test these areas to determine if Mineral Resources are present.

Th Mi l R t d i thi l f th Ob B b d A At A d P t D it d th Old KThe Mineral Resources presented in this release for the Obenemase, Boabedroo, Aserewa, Atunsu, Apan and Patuo Deposits and the Old KonongoTailings Dam are based on information compiled by Mr Peter Ball who is the Manager of Data Geo and a Member of the Australasian Institute ofMining and Metallurgy. Mr Ball has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and tothe activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves’. Other Mineral Resources presented in this table have been compiled and reviewed by Mr BillOliver from information prepared by RSG Global for Mwana Africa’s AIM‐listing document in compliance with the reporting standards of the 2004JORC Code. Mr Oliver is a Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists and hassufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertakingto qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources andOre Reserves’. Mr Ball and Mr Oliver consent to the inclusion of this table in the form and context in which it appears based on the informationOre Reserves . Mr Ball and Mr Oliver consent to the inclusion of this table in the form and context in which it appears based on the informationpresented to them.

The information in this release which relates to Exploration Results and stockpile/dump material has been compiled and reviewed by Mr Bill Oliver, aDirector of Signature Metals. Mr Oliver is a Member of the Australasian Institute of Mining and Metallurgy and the Australian Institue of Geoscientistsand has s fficient e perience hich is rele ant to the st le of mineralisation and t pe of deposit nder consideration and to the acti it hich he isand has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he isundertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, MineralResources and Ore Reserves’. Mr Oliver is a Director of Signature Metals and consents to the inclusion of this information in the form and context inwhich it appears based on the information presented to him.