Signature Metals’ Quarterly Report July 31, 2009

Australian company Signature Metals Limited (ASX: SBL) has released a Quarterly Report on its activities in the world-class Ashanti Gold Belt of Ghana.

HIGHLIGHTS

• Focussed on developing the Konongo Gold Project into a +100,000 ounce per annum gold producer.
• Fast tracking a strategy to bring the Konongo Gold Project rapidly into production, with potential for early cash flow from reclamation of stockpiles.
• Reviewing existing JORC Resources of approximately one million ounces.
• Exploration Target of 1.5 – 2.5 million ounces of gold at a resource grade of 2-4g/t gold.
• Exploration work programmes being designed for immediate commencement.
• Past production from Konongo Gold Project of 1.6 million ounces at a head grade of 11.8g/t gold.
• Significant infrastructure on site including a 350ktpa CIL gold treatment plant.
• CIL plant and tailings dam available and serviceable at a fraction of the cost of purchasing a new/second hand plant.
• Availability of local skilled workers and mining contractors will reduce capital and operating expenditures and implementation times.
• Government and local stakeholders supportive of recommencement of mining and production at Konongo.

Click here to view the full announcement.

For more information, please contact:

Bill Oliver
Managing Director
E-mail: info@signaturemetals.com.au

or

Matthew Wood
Chairman
E-mail: info@signaturemetals.com.au

Media:
Fortbridge +612 9331 0655
Bill Kemmery 0400 122 449
bill.kemmery@fortbridge.com