A key problem in post-silicon validation is to identify a small set of traceable signals that are effective for debug during silicon execution. Most signal selection techniques rely on a metric based on circuit structure. Simulation-based signal selection is promising but have major drawbacks in computation overhead and restoration quality. In this paper, we propose an efficient simulation-based signal selection technique to address these bottlenecks. Our approach uses (1)bounded mock simulations to determine state restoration effectiveness, and (2)an ILP-based algorithm for refining selected signals over different simulation runs. Experimental results demonstrate that our algorithm can provide significantly better restoration ratio (up to 515%, 51% on average) compared to the state-of-the-art techniques.