Signature Resources Announces Equity Financing
TSXV-SGU OTCQB-SGGTF FSE-3S30
372 BAY STREET, SUITE 1800, TORONTO, ONTARIO M5H 2W9
www.signatureresources.ca
Signature Resources Announces Equity Financing
Toronto, Ontario February 25, 2025, Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF,
FSE: 3S30) ("Signature" or the "Company") is pleased to announce that the Company is offering
a non-brokered private placement of flow -through shares (“FT Shares”) and non -flow-through
shares (“NFT Shares”) for gross proceeds of up to C$1,000,000 (the “Offering”). It is anticipated
that insiders will subscribe for at least 20% of the offering.
Each FT Share and NFT share is being offered at C$0.05 per share. All securities issued pursuant
to this proposed private placement will be subject to the Exchange Hold Period and legend
accordingly.
The net proceeds from the Offering will be used for completing the maiden NI 43 -101, final
expenses for the 2024 drilling program and general working capital purposes. It is expected that
thirty percent of the proceeds will be used for completing the resource model, twenty five percent
for the remaining drilling program expenses and forty -five percent for general working capital
purposes including accrued invoices to a non-arm’s length party. The Company may pay up to
7% of the gross proceeds as finders fees. None of the proceeds will be used for investor relations
service providers.
Update on Resource Publication
The Company had previously announced its intention to publish its initial NI 43-101 resource study
in April of 2025 and that this work is being undertaken by the independent geologic consulting
firm of Watts, Griffis and McQuat Limited (WGM). With all the final assays results being delayed
and not being able to provide all the final data to our independent consultants until earlier this
month, WGM has informed the Company that this has delayed their ability to meet our original
publication goals. It is anticipated that they will be able to complete their work and that we should
be in the position to publish our maiden resource early summer 2025. We are disappointed that
the delay in final assay results from the labs has impacted our scheduling but we remain very
enthusiastic about the results we have announced from our 2024 drilling program and how it
benefits our geologic model and the NI 43-101 resource report.
About Signature
The Lingman Lake gold property (the "Property") consists of 1, 300 staked claims, four freehold
fully patented claims and 14 mineral rights patented claims totaling approximately 2 4,761
hectares. The Property includes what has historically been referred to as the Lingman Lake Gold
Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres,
84-metres and 122-metres depths. There has been over 28,000 metres of historical drilling done
on the Property and four 500 pound bulk samples that averaged 19 grams per tonne of gold . In
November of 202 3, the Ontario government energized a new 115kV high tension transmission
line within 40 km of the historic Lingman Lake Mine (https://www.wataypower.ca/).
TSXV-SGU OTCQB-SGGTF FSE-3S30
372 BAY STREET, SUITE 1800, TORONTO, ONTARIO M5H 2W9
www.signatureresources.ca
To find out more about Signature, visit our website at www.signatureresources.ca, or contact:
Dan Denbow
Chief Executive Officer
416-840-6345
or contact :
Renmark Financial Communications Inc.
John Boidman: [email protected]
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
Cautionary Notes
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward -looking statements which are not statements of historical fact. Forward -looking
statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words
to the effect that the Company or management expects a stated condition or result to occur. Forward -looking statements
may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or
“plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although these statements are based on information currently available
to the Company, the Company provides no as surance that actual results will meet management’s expectations. Risks,
uncertainties and other factors involved with forward -looking information could cause actual events, results, performance,
prospects and opportunities to differ materially from those e xpressed or implied by such forward -looking information.
Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future
plans, statements, exploration results, potential mineralization, the estim ation of mineral resources, exploration and mine
development plans, timing of the commencement of operations and estimates of market conditions and risks associated
with infectious diseases, including COVID -19. Factors that could cause actual results to di ffer materially from such forward -
looking information include, but are not limited to changes in general economic and financial market conditions, failure to
identify mineral resources, failure to convert estimated mineral resources to reserves, the inabil ity to complete a feasibility
study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or
failures to obtain required governmental, environmental or other project approvals, political risks, in ability to fulfill the duty
to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices,
delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks
involved in the mineral exploration and development industry, and those risks set out in the Company’s public docu ments
filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward -looking
information in this news release are reasonable, undue reliance should not be placed on such information, which only applies
as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames
or at all. The Company disclaims any intention or obligation to update or revise any forward -looking information, whether
as a result of new information, future events or otherwise, other than as required by law.