Signature Resources Announces Engagement of VRIFY to Enhance Data Disclosure
06 January 2021 - 12:30AM
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3)
("Signature" or the "Company") is pleased to announce the
engagement of VRIFY Technology Inc. (“VRIFY”) to implement their
platform to assist in showcasing the Lingman Lake project.
“We are excited to
announce that we have partnered with VRIFY to enhance project and
market clarity as we advance the 100% owned Lingman Lake Gold
project. We believe the VRIFY platform will provide enhanced
communication of and transparency with our project setting, scale,
and historic data ahead of our upcoming winter drill program.
Further, our previously announced engagement with Nordmin
Engineering and the related workflow will integrate well with and
benefit from the VRIFY communication platform. We plan to update
the market more fully regarding our winter plans
shortly.”
Robert Vallis, P.Eng., MBA – President, CEO, and
Director
The Company has entered into a
share-for-services agreement with VRIFY (the “Agreement”), pursuant
to the provisions of the TSX Venture Exchange (the “Exchange”)
Policy 4.3. Pursuant to the Agreement, VRIFY shall provide certain
services (the “Services”), and shall receive its fees by way of the
issuance of common shares (the “Shares”) of the Company. The Shares
will be issued at a deemed price per Share equal to the greater of
$0.11 and the Market Price (as defined in the TSXV policies) of the
Shares as traded on the Exchange on the first trading date
following the date the Services are provided to the Company. The
Agreement remains subject to Exchange approval.
About VRIFYVRIFY’s technology
communicates a company’s value with presentation tools that
simplify information and translate tough to digest data into
compelling content. The platform allows companies to showcase
project data with interactive 3D models, host global site visits of
remote assets using virtual tours, and present content to any
device, anytime, anywhere in the world. See for yourself at
VRIFY.com.
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, the completion of the services,
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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