Signature Resources Provides Further Update from Successful Field Campaign
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SIGNATURE RESOURCES PROVIDES FURTHER UPDATE FROM SUCCESSFUL FIELD CAMPAIGN
Toronto, Ontario, October 7, 2020 . Signature Resources Ltd. (TSXV-SGU, OTCQB-SGGTF, FSE-3S3)
(“Signature” or the “Company”) is pleased to announ ce that it has successfully completed its two part
field program and has demobilized its field crew from its Lingman Lake gold property in northern Ontario.
The program focused on a borehole survey and a geological field program that sets up Signature Resource
for a productive 2021 exploration program.
Part 1: Borehole Survey
The first phase of this program was to undertake borehole north-seeking gyro surveys of 104 holes drilled
in the 1980’s and one hole from 2018. This represented a total of 18,773m for testing. These holes were
selected as a representation of drilling into all the zones across the strike, width and depth of the deposit.
Of the 104 holes to be surveyed 47% were successful ly completed and the Company believes that these
holes are representative of all the zones. The Comp any is very pleased with the professional surveying
services completed by IMDEX. This information will greatly assist in calculating a new more accurate
resource model and determining the location of new drill holes.
Part 2: Geological Field Work and Sampling
The Company also had a team of geologists and prosp ectors visit six pre-determined target areas as
defined by a combination of geophysical interpretat ions of the airborne survey results, geological
mapping, structural interpretation and a detailed review of high resolution visual satellite imagery. While
exploring the target areas, numerous new rusty zones of shearing, silicification and pyrite mineralization,
were encountered by the field crews. This style of mineralization, encountered by the field crews, was
similar to what is found in the area around the Lingman Lake mine site, which in the Company’s opinion,
is extremely positive for continuing exploration for new discoveries.
A total of 93 grab samples, six standards and three banks were submitted for assaying. These samples
were delivered by the project geologist to Purolator’s office in Winnipeg for couriering to SGS laboratories
in Red Lake Ontario. Currently these samples are in the lab being assayed.
“We are intrigued and encouraged by the large numbe r of new mineralized areas encountered in
this exploration program despite the very localized area of investigation in each target area. We
look forward to their further evaluation” commented Bob Komarechka, P. Geo, Project Geologist.
Detailed information and results on this program will be reported in the near future as more information
becomes available.
TSXV-SGU OTCQB-SGGTF FSE-3S3
366 BAY STREET, SUITE 200, TORONTO, ONTARIO M5H 4B2
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Qualified Persons
The scientific and technical content of this press release has been prepared, reviewed and approved by
Bob Komarechka, P.Geo. 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 prio r data and reports obtained and prepared by previou s
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 resource estimates is available in the technical report entitled,
"Technical Report on the Lingman Lake Property" dated December 20, 2013, prepared by Walter Hanych,
P.Geo., and Frank Racicot, P.Geo., available 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:
Jonathan Held
Chief Financial Officer
416-270-9566
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 expect s a stated condition or result to occur. Forward-lo oking statements
may be identified by such terms as “believes”, “ant icipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or
“plan”. Since forward-looking statements are based on assumptions and address future events and condit ions, 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 assurance t hat actual results will meet management’s expectati ons. Risks,
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uncertainties and other factors involved with forwa rd-looking information could cause actual events, r esults, performance,
prospects and opportunities to differ materially fr om those expressed or implied by such forward-looki ng information.
Forward looking information in this news release in cludes, but is not limited to, results of the progr am, proposed further
exploration on any new discovery areas, prospecting, mapping, and sampling in future work p rograms, 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 reserves, the inability to complete a feasibility study whic h 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 exchange rates, fluctuations in commodity prices, delays in the development
of projects, capital and operating costs varying si gnificantly from estimates and the other risks invo lved in the mineral
exploration and development industry, and those ris ks set out in the Company’s public documents filed on SEDAR. Although
the Company believes that the assumptions and facto rs used in preparing the forward-looking informatio n in this news
release are reasonable, undue reliance should not b e placed on such information, which only applies as of the date of this
news release, and no assurance can be given that su ch events will occur in the disclosed time frames o r 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.