Signature Resources Announces CFO Appointment
Toronto, Ontario, August 9, 2021. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the appointment of Donna McLean as Chief Financial Officer (“CFO”) of Signature, effective immediately. The appointment of Ms. McLean is key in positioning Signature’s Management to successfully lead the Company’s continued growth with efficiency and effectiveness.
Jonathan Held has stepped down from the CFO position to pursue other interests but will remain for a duration to ensure a smooth and complete transition. Mr. Held, CPA, CA is a seasoned financial executive with CFO level experience with both private and public companies. He has held the position of CFO and Director of Signature for over eight years from its inception and has been integral to Signature’s successful growth as a highly valued member of the Company’s management team.
Donna McLean is an accomplished executive with over 30 years of financial reporting and corporate administration. Ms. McLean has served as Chief Financial Officer and Controller for numerous publicly traded and private companies including a number of mineral exploration companies. She serves as Manager, Accounting Services with Grove Corporate Services Ltd. (www.grovecorp.ca) that provides governance, accounting and administrative services to small-cap public and private companies in Canada. Ms. McLean also serves as Chief Financial Officer for Unigold Inc., Firestone Ventures Inc. and Avidian Gold Corp. Ms. McLean will be joined by Ms. Sarah Morrison, Chief Operating Officer, Grove Corporate Services, who will be assuming the role of Corporate Secretary for the Company.
“Sarah and I are delighted to be adding Signature to our quality resource-based client stable. We believe they are poised for sustainable growth and exploration success, and we look forward to bringing our corporate services support to the team with the mutual aim of unlocking the value of the Lingman Lake Gold Camp for shareholders.”
Donna McLean – CFO
“I am very pleased to welcome Donna into the CFO role. Her skill set, successful track record, and professionalism position her as a key member of Signature’s management team. I look forward to working closely with her to continue the successful growth of the Company and its value delivery to shareholders. It is a bittersweet task to wish Jonathan well with his new undertakings. Signature has been blessed with his dedication, skill, discipline, and attention to detail and the CFO transition process shall continue to benefit from this. He has been and will remain, a highly respected and cherished member of Signature’s family. We sincerely wish him well.”
Robert Vallis – President, CEO, and Director
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,113 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:
Chief Financial Officer
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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 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 and risks associated with infectious diseases, including COVID-19. 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.