Signature Res Ltd Cda - SGGTF STOCK NEWS

Signature Resources announces completion of geologic model update, revealing high-grade mineralization at Lingman Lake Project. New targets identified through AI modeling for 2024 program. CEO expects a catalyst-rich year benefiting shareholders.

Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S3) has successfully completed a private placement of flow-through and non-flow-through shares, raising gross proceeds of C$696,250. The Offering was increased from the previously announced amount of C$600,000 and included 20,045,455 FT shares at C$0.0275 per share and 5,800,000 NFT Shares at a price of C$0.025. The net proceeds will be used for resource modelling, designing the 2024 drill program, exploration data compilation, and general working capital purposes. The company is excited to announce that it has added a significant individual investor, Jonathan Goodman, who will own 17% of the outstanding shares. The Wataynikaneyap Transmission Power Project is making progress in Northwestern Ontario and is expected to support several First Nations communities in the region. Additionally, the Board of Directors has voted to increase its membership to six and has appointed Matthew Goodman, who brings over 12 years of experience in capital markets and junior mining.

Signature Resources Ltd. is offering a non-brokered private placement of flow-through shares and non-flow-through shares for gross proceeds of up to C$600,000. The Offering is expected to have approximately 20% participation from the Company's board of directors and management. The net proceeds will be used for resource modelling, drill program design, exploration data compilation, and general working capital purposes.

Signature Resources Ltd. announces voting results at annual general and special meeting. Election of Directors and appointment of auditors approved. Rebecca Hudson appointed as Chief Financial Officer.

Signature Resources Ltd. (OTCQB: SGGTF) announced updates on its Lingman Lake Gold Project in Northwestern Ontario. The company is set to commence a 10,000-meter drilling program in mid-September. Recent delays due to wildfires have subsided, allowing site activities to progress. Key milestones include completion of the airborne LIDAR program and advancement in the 3D Induced Polarization data program, expected to finish by late September. Historical analysis has generated a conceptual exploration model for gold occurrences in the area, enhancing the project's potential.

Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF) announced the addition of three new Board members, Lisa Davis, John Hayes, and Dan Denbow, along with Priya Patil to its Advisory Board. The changes aim to enhance the Company's corporate governance and support future growth. Jonathan Held and Walter Hanych will step down from the Board. The Company granted 1,600,000 incentive stock options to the new members at an exercise price of $0.16. The Lingman Lake gold property hosts an estimated 234,684 oz of gold, representing significant potential for future exploration.

On June 24, 2021, Signature Resources Ltd. appointed Rickardo Welyhorsky as Chief Operating Officer (COO), a strategic move aimed at enhancing the company’s drilling and operational capabilities. Welyhorsky, a seasoned mining professional with over 28 years of experience, has previously held key roles in major gold operations. The company is advancing towards a 10,000-metre diamond drill program scheduled for late August and is engaged in optimizing site logistics and operations. Additionally, 2,250,000 stock options were granted to Welyhorsky to align incentives.

Signature Resources Ltd. announced the initial results from its 15-hole diamond drill campaign at the Lingman Lake Gold Project. The first three drill holes, totaling 515 meters, have shown promising gold intersections, with drill hole 21-03 recording 14.90 g/t over 1.0 meter, and hole 21-15 recording 5.81 g/t over 6.0 meters. A 3D Induced Polarization survey is set for June 14 to enhance targeting for future drilling. The property hosts a historical estimate of 234,684 oz of gold, and the company aims to convert this to a compliant resource within the next 18 months.