Signature Resources Appoints Paolo Lostritto as Chairman of the Board and Equity Financing

TORONTO, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the appointment of Paolo Lostritto as the Chairman of the Board.

Paolo Lostritto has an extensive background in mining capital markets and working with companies across the globe since 1997. Paolo has helped assess different companies/projects and helped finance them as they advanced through exploration, development, and production. Some of the companies where Paolo was involved early include: Kirkland Lake Gold, Novagold and Lake Shore Gold in 2004, Romarco Minerals in 2006, Victoria Gold and Volta Resources in 2009. Mr. Lostritto is currently serving on the Board of Blue Thunder Mining Corporation, which is focused on gold exploration in Quebec near the recently discovered Nelligan deposit. Paolo is a cofounder and board member of Interstellar Mining Inc which is focused on leveraging a leading Canadian space mining robotics group (Deltion Innovations Ltd.) along with Watts, Griffis, and McOuat Ltd.’s space mining group to develop and produce energy commercially for the rapidly growing space industry. Over his career, Mr. Lostritto was a Director of the Mining Equity Research at National Bank Financial and worked in equity research at Wellington West, Scotia Capital and TD Securities. He served as an Independent Director at Savary Gold Corp. which was sold to SEMAFO in 2019. Mr. Lostritto holds a Bachelor of Applied Science in Geological and Mineral Engineering in Rock Mechanics from the University of Toronto and he is a registered Professional Engineer in the Province of Ontario.

“I have been following Signature Resources’ exploration work at Lingman Lake over the past four years with great interest. I believe the company has an asset base that is under appreciated by the market and now that the Provincial Government is building better road and power access to the region, the story is ready to be told. There is ample evidence of exceptional gold grades, mineralized thickness and tremendous exploration potential that warrant follow up work. The potential over the 23 km belt is very compelling and reminds me of several successful gold belts in the Canadian Shield that have attracted interest from major mining companies. I look forward to working with the team to generate shareholder returns as a function of advancing the project in the near-future.”