Signature Resources Ltd. Announces Non-Brokered Private Placement and the Acquisition of Twenty-One Additional Claims at Its Lingman Lake GOLD Project
TSXV-SGU OTCQB-SGGTF FSE-3S3
366 BAY STREET, SUITE 200, TORONTO, ONTARIO M5H 4B2
www.signatureresources.ca
15077888.2
SIGNATURE RESOURCES LTD. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT AND THE
ACQUISITION OF TWENTY-ONE ADDITIONAL CLAIMS AT ITS LINGMAN LAKE GOLD PROJECT
Toronto, Ontario, August 17, 2020 – Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF , FSE: 3S3)
("Signature" or the " Company ") is pleased to announce that it will conduct a non-b rokered private
placement (the “ Offering ”), subject to the approval of the TSX Venture Exch ange (the “ Exchange ”), for
aggregate gross proceeds of up to $1,500,000. The O ffering will consist of non-flow-through units (the “ NFT
Units ”) at a price of $0.05 per NFT Unit, and flow-throu gh units (the “ FT Units ”) at a price of $0.06 per FT
Unit.
“As markets react to geopolitical events and the gl obal pandemic, the precious metal markets are
responding as safe haven investments, and gold in p articular is performing at unprecedented levels. In
particular, investors are returning to junior gold exploration/mining companies, like Signature
Resources, with its Lingman Lake gold property whic h hosts a historical estimate of 234,684 oz of gold .
The funds will allow the company to further evaluat e and advance its 12,148 hectare property. In
addition, we are pleased that the detailed geophysi cal/structural interpretation announced in earlier
press release dated June 14 th , is successfully generating high priority follow-u p target areas for this
summer’s evaluation of them”, commented Walter Hanych, President and CEO of Signature Resources.
As a result of the geophysical/structural evaluatio n, Signature Resources has acquired by staking an
additional 21 single cell claim units covering appr oximately 420 hectares. Details of this acquisition and
other results of the evaluation will be released in a forthcoming press release.
Each NFT Unit issued pursuant to the Offering will consist of one common share of the Company
(“ Common Share ”) and one common share purchase warrant (a “ Warrant ”). Each FT Unit issued
pursuant to the Offering will consist of one Common Share issued on a flow-through basis (“ FT Share ”)
and one-half of one Warrant. Each whole Warrant will entitle the holder thereof to acquire an additional
Common Share (a “ Warrant Share ”) of the Company at an exercise price of $0.10 per Warrant Share for
a period of 2 years from the date of issuance, prov ided that if after four (4) months and one (1) day
following the closing of the Offering, the closing price of the Company's common shares on the
Exchange is equal to or greater than $0.20 for 10 c onsecutive trading days, then the Company may
accelerate the expiry date of the Warrants by disse minating a press release and in such case the
Warrants will expire on the 30th day after the date on which such press release is disseminated by the
Company. The FT Shares will qualify as “flow-through shares” (within the meaning of the Income Tax Act
(Canada)).
Subject to Exchange approval, the Company may pay f inder’s fees of up to 10% of the proceeds raised
from the Offering and up to 10% warrants to purchas e Common Shares to certain persons who
introduce the Company to investors of the Offering. The securities issued pursuant to the Offering wi ll
be subject to a four-month and one day hold period in accordance with applicable Canadian securities
laws and Exchange policies.
TSXV-SGU OTCQB-SGGTF FSE-3S3
366 BAY STREET, SUITE 200, TORONTO, ONTARIO M5H 4B2
www.signatureresources.ca
15077888.2
The Company has also granted 3,250,000 incentive st ock options, to directors, officers and consultants
of the Company. The incentive options have an exercise price of $0.10, expire five years from the date of
issuance and vest upon issuance.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall it constitute an offer, solic itation or sale in any jurisdiction in which such o ffer,
solicitation or sale is unlawful. These securities have not been, and will not be, registered under th e
United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or
sold in the United States or to U.S. persons unless registered or exempt therefrom.
Qualified Persons
The scientific and technical content of this press release has been prepared, reviewed and approved by
Walter Hanych P.Geo. and President-CEO of Signature Resources who is a Qualified Person as defined in
National Instrument 43-101 - Standards of Disclosure for Mineral Projects
About Signature
The Lingman Lake gold property consists of 622 staked claims, four free hold full patented claims and 14
mineral rights patented claims totaling approximate ly 12,148 hectares. The property hosts an historica l
estimate of 234,684 oz of gold* (1,063,904 tonnes g rading 6.86 g/t with 2.73 gpt cut-off) and includes
what has historically been referred to as the Lingm an Lake Gold Mine, an underground substructure
consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
This historical resource estimate is based on prior data and reports obtained and prepared by previous
operators, and information provided by governmental authorities. A Qualified Person has not done
sufficient work to verify the classification of the mineral resource estimates in accordance with curr ent
CIM categories. The Company is not treating the his torical estimate as a current NI 43-101 mineral
resource estimate. Establishing a current mineral r esource estimate on the Lingman Lake deposit will
require further evaluation, which the Company and i ts consultants intend to complete in due course.
Additional information regarding historical resourc e estimates is available in the technical report
entitled, “Technical Report on the Lingman Lake Pro perty” dated December 20, 2013, prepared by
Walter Hanych, P.Geo., and Frank Racicot, P.Geo., a vailable on the Company’s SEDAR profile at
www.sedar.com
To find out more about Signature Resources Limited, visit our website at www. signatureresources .ca , or
contact:
Walter Hanych
Chief Executive Officer
705.446.5379
TSXV-SGU OTCQB-SGGTF FSE-3S3
366 BAY STREET, SUITE 200, TORONTO, ONTARIO M5H 4B2
www.signatureresources.ca
15077888.2
Cautionary Notes
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the poli cies of the TSX
Venture Exchange) accepts responsibility for the ad equacy or accuracy of this news release.
This news release contains forward-looking statemen ts which are not statements of historical fact. For ward-looking
statements include estimates and statements that de scribe the Company’s future plans, objectives or go als, including
words to the effect that the Company or management expects a stated condition or result to occur. Forw ard-looking
statements may be identified by such terms as “beli eves”, “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 u ncertainties. Although these statements are based o n information
currently available to the Company, the Company pro vides no assurance that actual results will meet ma nagement’s
expectations. Risks, uncertainties and other factor s involved with forward-looking information could c ause actual events,
results, performance, prospects and opportunities t o differ materially from those expressed or implied by such forward-
looking information. Forward looking information in this news release includes, but is not limited to, use of proceeds of the
Offering, closing of the Offering and proceeds ther efrom, acceptance of regulatory filings by the Exch ange, the Company’s
objectives, goals or future plans, statements, expl oration results, potential mineralization, the esti mation of mineral
resources, exploration and mine development plans, timing of the commencement of operations and estima tes of market
conditions. Factors that could cause actual results to differ materially from such forward-looking inf ormation include, but
are not limited to changes in general economic and financial market conditions, failure to identify mi neral resources,
failure to convert estimated mineral resources to r eserves, the inability to complete a feasibility st udy which recommends a
production decision, the preliminary nature of meta llurgical test results, delays in obtaining or fail ures to obtain required
governmental, environmental or other project approv als, political risks, inability to fulfill the duty to accommodate First
Nations and other indigenous peoples, uncertainties relating to the availability and costs of financin g needed in the future,
changes in equity markets, inflation, changes in ex change rates, fluctuations in commodity prices, del ays in the
development of projects, capital and operating cost s varying significantly from estimates and the othe r risks involved in
the mineral exploration and development industry, a nd those risks set out in the Company’s public docu ments filed on
SEDAR. Although the Company believes that the assum ptions and factors used in preparing the forward-lo oking
information in this news release are reasonable, un due reliance should not be placed on such informati on, 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 intenti on or obligation to update or revise any forward-lo oking information,
whether as a result of new information, future even ts or otherwise, other than as required by law.