Signature Resources Stakes Additional 5 Km of Favourable GOLD Trend at Lingman Lake
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SIGNATURE RESOURCES STAKES ADDITIONAL 5 KM OF FAVOURABLE GOLD TREND AT LINGMAN LAKE
Toronto, Ontario, July 14, 2020 . Signature Resources Ltd. (TSXV-SGU, OTQB-SGGTF, FSE-3S3) (“Signature”
or the “Company”) announces that the company has ac quired by staking 5 kilometers of the eastern
portion of the Lingman Lake greenstone belt covering its northern and eastern contact.
“The 102 cells that were staked over the eastern po rtion of the Lingman Lake greenstone are important
because the Lingman Lake gold mine is associated with this contact. This staking has increased the strike
length of the favorable contact zone by approximately 5 kilometers. In total, approximately 28 kilometers
of strike, essentially the entire northern contact of the Lingman Lake greenstone belt is now availabl e as
a regional exploration package”, commented Walter Hanych, President-CEO.
In addition, 12 fill-in single cell claims were sta ked on the northern contact and 3 boundary claims w ere
staked. The Lingman Lake property now consists of 600 claims totalling approximately 11,725 hectares.
As COVID-19 restrictions ease-up, the company is pl anning to undertake a program of ground follow-up
of targets identified from the airborne survey cond ucted in 2018. Six areas have been selected for
evaluation this summer.
The Company has also granted 250,000 incentive stoc k options, to a Director of the Company. The
incentive options have an exercise price of $0.05, expire five years from the date of issuance and ves t
upon issuance.
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 600 claims, which includes four free hold patented claims and
14 mineral rights patented claims totaling approximately 11,725 hectares. The property hosts an historical
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.
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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 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:
Walter Hanych
Chief Executive Officer
705.446.5379
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 describe the Company’s future plans, objectives or goals, 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,
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, use of proceeds of t he Offering, closing of
additional tranches pursuant to the Offering and pr oceeds therefrom, acceptance of regulatory filings by the TSX-V, the
Company’s objectives, goals or future plans, statem ents, exploration results, potential mineralization , the estimation of
mineral resources, exploration and mine development plans, timing of the commencement of operations an d estimates of
market conditions. Factors that could cause actual results to differ materially from such forward-looking information include,
but are not limited to changes in general economic and financial market conditions, failure to identif y mineral 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 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
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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.