Signature Resources Improves Independence and Corporate Governance with Changes to its Board of Directors and Advisory Board


TORONTO, August 04, 2021 (GLOBE NEWSWIRE) – Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) (“Signature” or the “Company”) is pleased to announce the addition of three new Directors (the “Board”) and a new member of the Advisory Board. Lisa Davis, John Hayes and Dan Denbow have been appointed to the Board of Directors. At the same time, Jonathan Held and Walter Hanych will be leaving the board of directors. John Hayes and Dan Denbow previously held positions on the Signature Advisory Board and bring with their respective backgrounds a valuable understanding and knowledge of the company’s ongoing strategic planning and related activities. Additionally, Priya Patil will join the company’s advisory board. All of these changes are aimed at improving the independence, diversification and corporate governance of the Company, which will strengthen Signature’s future growth capabilities.

The Company would particularly like to thank Mr. Held and Mr. Hanych for their long service to the Board of Directors and their valuable contributions to Signature’s success.

“I am honored and happy that Signature was able to attract such talented and experienced industry titans to join our team. Their skill, supervision and guidance should position the Company well for the next stage of exploration growth aimed at unlocking the value of the Lingman Lake gold camp for shareholders. “

Paolo Lostritto, ing. – President

Lisa Davis brings a significant industry perspective to Signature’s Board of Directors as CEO of Peartree Securities Inc., a specialty finance and advisory firm focused on the Canadian junior resource sector. Drawing on the in-depth knowledge of securities regulation acquired in part during her secondment to the Ontario Securities Commission, Lisa is also responsible for the legal and compliance aspects of the operations of the company as well as of PearTree. Financial Services Ltd., the originator and primary provider of flows through grant finance services in Canada. Prior to joining Peartree, Lisa was General Counsel for a specialty investment fund firm with over $ 3 billion in assets under administration. A graduate of Osgoode Hall Law School, Lisa was a partner at Fraser Milner Casgrain LLP (currently Dentons) where she specialized in corporate and securities law. Lisa obtained the ICD.D designation from the Institute of Corporate Directors and was a Director of the Prospectors and Developers Association of Canada (PDAC), as well as a member of the PDAC Executive Committee and Co-Chair of the Finance and Taxation Division. . PDAC Committee.

John hayes is a professional geologist with over 20 years of exploration and many years of experience in the capital markets. John worked for ten years in mining equity research at BMO Capital Markets and upon his retirement in 2014 was a Managing Director spanning global precious and base metals companies as they moved projects forward. exploration to production. Most recently, John held senior positions at Pretium Resources and Osisko Mining. He is currently a director and chairman of the board of Maritime Resources Corp. John holds an Honors BA in Geology (1989) and an MA in Geology (1997) from Memorial University of Newfoundland. He also holds an MBA from Dalhousie University (2003) and is a Fellow (P. Geo.) Of the Professional Engineers and Geoscientists Newfoundland and Labrador.

Dan Denbow has spent over 28 years in the capital markets with his most recent experience associated with USAA Investment Management Company. As a portfolio manager for USAA, Dan was responsible for managing more than US $ 4 billion in three strategies: a domestic and global dividend strategy and the USAA Precious Metals and Minerals fund. Dan and his team received eight Lipper Fund Awards, six Lipper Fund Achievement Certificates, a TopGun Investment Mind Award in 2018 from Brendan Wood International, and the USAA Precious Metals Fund was named “Fund of the Decade” for the ten-year period. . at the end of 2009. The USAA Precious Metals and Minerals fund focused on selecting gold mining stocks with a risk-adjusted relative value ranking based on factors such as asset quality, management quality and quality. of the balance sheet. Dan holds an MBA from Texas Christian University, the Neeley School of Business, and holds the CFA charter.

Priya Patil has over 20 years of experience building and leading companies in mining and financial services in Canada, the United States and India. Priya has held positions in strategy, corporate development and governance. She was legal counsel to a multi-mine zinc / copper producer operating in several countries; Global Head of Diversified Industries at the Toronto Stock Exchange; Managing Director and Head of Banking Investments at two national investment banks and as an attorney in Canada and Palo Alto, California. Priya sits and has served as a director and chairman of the audit / compensation committee of public natural resource companies listed on the TSX and the AIM Exchange of the LSE. Priya has been selected as a member of the Diversity Council of the Canada Board – 2017 Diversity 50 Honoree. Priya is passionate about education and economic development. Priya is a member of the bars of California and Ontario; holds his JD and B.Sc. (Statistics and Computer Science) and obtained his ICD.D charter from the Rotman School of Management.

Stock options
The Company also granted a combined total of 1,600,000 incentive stock options to new Board and Advisory Board members following their appointments. The options will have an exercise price of $ 0.16, expire five years from the date of issue and vest 25% immediately and 12.5% ​​every six months thereafter until the third anniversary.

About the signature
The Lingman Lake gold property consists of 1,434 staked claims, four fully patented freehold claims and 14 patented mineral rights claims totaling approximately 27,113 hectares. The property contains a historical estimate of 234,684 oz of gold * (1,063,904 tonnes grading 6.86 g / t with a cut-off grade of 2.73 g / t) and includes what has been historically referred to as the The gold of Lingman Lake, an underground substructure consisting of a 126.5 meter well and 3 levels at 46 meters, 84 meters and 122 meters deep.

* This historical resource estimate is based on previous data and reports obtained and prepared by previous operators, and on information provided by government authorities. A qualified person has not performed sufficient work to verify the classification of the mineral resource estimates according to the current CIM categories. The Company does not treat the historical estimate as a current estimate of mineral resources under NI 43-101. Establishing a current mineral resource estimate on the Lingman Lake deposit will require a more in-depth assessment, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report titled “Lingman Lake Gold Property Technical Report” dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company’s SEDAR profile at www.sedar.com
To learn more about Signature Resources Limited, visit our website at www.signatureresources.ca or contact:

Jonathan held
Financial director
416-270-9566

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 release.

This press 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 terms indicating that the Company or management expects a condition or reported result to occur. Forward-looking statements may be identified by words such as “believes”, “anticipates”, “expects”, “believes”, “may”, “could”, “would”, “will” or “will”. Because forward-looking statements are based on assumptions and deal with 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 assurance that actual results will meet management’s expectations. The risks, uncertainties and other factors involved in forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, without limitation, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, mineral resource estimate, mining exploration and development plans, the timing of operations, and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from this forward-looking information include, without limitation, changes in general economic and financial market conditions, inability to identify mineral resources, inability to converting estimated mineral resources into reserves, inability to complete a feasibility study that recommends a production decision, preliminary nature of metallurgical test results, delays in obtaining or failure to obtain government approvals, environmental or other requirements for the project, political risks, the inability to fulfill the duty to accommodate of First Nations and other Indigenous peoples, uncertainties relating to the availability and costs of necessary funding in the future, variations in stock markets, inflation, changes in exchange rates, fluctuations in the prices of ma raw materials, delays in project development, investment and operating costs varying widely from estimates and other risks involved in mineral exploration and development of the investment industry and the risks set out in the Company public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in the preparation of forward-looking information in this press release are reasonable, one should not place undue reliance on such information, which only applies as of the date of this press release. press release, and no assurance can be given as such events will occur within the timeframe disclosed or will not occur 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, except as required by law.


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