Signature Resources Announces Filing of Updated NI 43-101 Technical Report

TORONTO, Feb. 13, 2020 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV-SGU, OTQB-SGGTF, FSE-3S3) (“Signature” or the “Company”) announces the filing of a new Technical Report in accordance with National Instrument 43-101 –Standards of Disclosure for Mineral Projects (“NI 43-101”) on its 100% owned Lingman Lake project. The Technical Report, titled “National Instrument 43-101 Technical Report on the Lingman Lake Gold Property, Lingman Lake Area, District of Kenora (Patricia Portion), Ontario, Canada," (effective date of January 31, 2020) has been prepared by Mr. J. Siriunas, P.Eng. and Mr. W. Hanych, P.Geo., and is available on SEDAR (www.sedar.com) under Signature’s issuer profile.

This report serves as an update to the 43-101 technical report titled "Technical Report on The Lingman Lake Property, Lingman Lake Area, District of Kenora, Ontario, Canada,” (effective date of December 20, 2013). Since 2013, Signature has attained several milestones, which include the completion of three exploration campaigns, and major land acquisitions which expanded the property from 616.8 hectares to approximately 15,754 hectares.

Exploration Campaigns:

1. 2016, archived core re-logging, duplicate core sampling and new sampling of 22-historical holes. The core duplicate sampling achieved a 94% correlation between the current sampling and the historical sampling. This high correlation allows all the historical data to be incorporated into a future resource model without the need for a costly historical hole twinning program.
    
2. 2018, a high resolution airborne Magnetic and Matrix VLF-EM in which 2,270- line kilometers were flown. Employing state of the art proprietary software, the VLF-EM Inversion identified important bedrock features. They correlate with the contact between the felsic intrusive domain and volcanic-sedimentary belt which hosts gold mineralization at the Lingman Lake Gold Mine. This recognition resulted in delineating 15-high priority targets.
    
3. 2018, a 12-hole NQ core (47.6mm) diamond drill program totalling of 1,501 metres was completed. The program intersected gold tenors of up to 66.53 g Au/t (gravimetric finish), from 101.00 m to 102.00 m in drill hole 18-05. Several significant weighted average gold grade along drill widths were attained; for example, hole 18-01 yielded 11.37 g/t along 9.50 meters.