Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3)
("Signature" or the "Company") is pleased to announce the
appointment of Robert Vallis as President, CEO, and Director.
Robert Vallis is an accomplished senior leader
and business professional with broad and progressive career
developed over 25 years in the mining sector. Mr. Vallis brings to
Signature a wide breadth of business and technical experience
across multiple areas including corporate development, strategy and
planning, business/transaction development and execution, project
and team management, financial evaluations, enterprise continuous
improvement and mine Engineering/operations. Mr. Vallis most
recently was the SVP Corporate Development with Golden Star
Resources. Before this, Mr. Vallis was with Yamana Gold as a
Business Development executive for nearly nine years working on
transactions such as the C$3.9 Billion joint acquisition of Osisko
for 50% of Canada’s largest operating gold mine, and the US$395
Million acquisition of Extorre Gold Mines Ltd. for Cerro Morro (now
Yamana’s highest grade operating mine). Prior to Yamana, Mr. Vallis
was with Barrick Gold for 15 years in multiple global jurisdictions
and roles spanning from global Evaluations & Corporate
Development, Capital Projects, Mine Engineering & operations,
and global Continuous Improvement. Most notably, Mr. Vallis worked
on the successful US$10.4 Billion acquisition of Placer Dome, a
transformative deal for Barrick and one of Canada’s largest mining
M&A transactions. Mr. Vallis holds a Bachelor of Engineering
degree with Dalhousie University in Mine Engineering, a Master of
Business Administration degree with the University of Toronto’s
Rotman School of Management and is a registered Professional
Engineer in the Province of Ontario.
“I am very pleased and excited to have joined
Signature Resources as President, CEO, and Director. The remarkable
quality of the Company’s entire team and the high-grade Lingman
Lake gold project present a significant opportunity to the Company
and its shareholders with exceptional potential for rapid value
growth. The Lingman Lake gold project is an extensive land package
residing near Canada’s premier gold mining district, rich with
high-grade gold production, resource potential, and valued
stakeholder participation. Resulting from the vision, unique
talents, and hard work of Signature’s founding members, Signature
is uniquely positioned for focused and disciplined growth. I look
forward to working with our Board and management leading the
Signature team to deliver this value to its shareholders.”
Robert Vallis, P.Eng., MBA – President, CEO, and
Director
“All of us at Signature are proud to have attracted
an executive with the experience level that Robert has. His
acceptance of the position, by his astute assessment, speaks to the
quality opportunity we have with our Lingman Lake gold project to
become a future gold district. With Robert taking over the reins as
the CEO; allows me the time to concentrate on the property as Chief
Geologist, while we continue to discover and explore in this unique
opportunity that we have at the Lingman Lake Greenstone Belt.”
Walter Hanych – Director, Chief Geologist
Stock OptionsThe Company has also
granted 3,000,000 incentive stock options to Mr. Vallis following
his appointment. The options shall have an exercise price of $0.07,
expire five years from the date of issuance, and shall vest 25%
immediately, and 12.5% ever six months thereafter through to the
third anniversary.
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
approximately 12,148 hectares. The property hosts an historical
estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t
with 2.73 gpt cut-off) and includes what has historically been
referred to as the Lingman 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 current CIM
categories. The Company is not treating the historical estimate as
a current NI 43-101 mineral resource estimate. Establishing a
current mineral resource estimate on the Lingman Lake deposit will
require further evaluation, which the Company and its 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 Gold Property"
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 find out more about Signature Resources
Limited, visit our website at www.signatureresources.ca , or
contact:
Jonathan HeldChief Financial Officer
416-270-9566
Cautionary Notes
Neither 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 assurance 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 expressed or implied by such forward-looking
information. Forward looking information in this news release
includes, but is not limited to, use of any private placement
proceeds raised, success of funding including closing of any
proposed private placements and proceeds therefrom, acceptance of
regulatory filings by the TSX-V, the Company’s objectives, goals or
future plans, statements, exploration results, potential
mineralization, the estimation of mineral resources, exploration
and mine development plans, timing of the commencement of
operations and 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 identify
mineral resources, failure to convert estimated mineral resources
to reserves, the inability 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, inability 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 documents 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.
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