Toronto, Ontario--(Newsfile Corp. - July 22, 2026) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S30) (the "Company" or "Signature") is providing the following clarification regarding its news release dated July 15, 2026, announcing the closing of its non-brokered private placement (the "Offering").
The Company confirms that the Offering consisted of:
- 11,311,111 flow-through units ("FT Units") issued at a price of $0.045 per FT Unit, for gross proceeds of $509,000; and
- 2,500,000 non-flow-through units ("NFT Units") issued at a price of $0.04 per NFT Unit, for gross proceeds of $100,000,
for aggregate gross proceeds of $609,000.
Each FT Unit and NFT Unit consisted of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.08 for a period of 12 months from the date of issuance.
As previously disclosed, insiders of the Company participated in the Offering through the acquisition of 1,111,111 FT Units and 2,500,000 NFT Units, representing approximately 26% of the Offering. Such participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation requirements under section 5.5(a) of MI 61-101 and the minority shareholder approval requirements under section 5.7(1)(a) of MI 61-101, as the fair market value of the participation by insiders did not exceed 25% of the Company's market capitalization.
No other material terms of the Offering have changed from those disclosed in the Company's news release dated July 15, 2026.
About Signature Resources Ltd.
The Company is a Canadian based advanced stage exploration company focused on expanding the 100% owned Lingman Lake gold deposit, located within the prolific Red Lake district in Northwestern Ontario, Canada. The Lingman Lake gold property (the "Property") consists of 25 single-cell and 159 multi-cell staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 23,033 hectares. The Property includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at depths of 46 metres, 84 metres and 122 metres. There has been over 43,222 metres of drilling done on the Property and four 500-pound bulk samples that averaged 19 grams per tonne of gold. The Company's initial mineral resource estimate was published in the report entitled "NI 43-101 Technical Report on the Lingman Lake Property" dated May 31, 2025 prepared by Gehard Kiessling, P. Geo., Farshid Ghazanfari, P. Geo., Marin Drennan, P. Eng., Cameron Finlayson and Jeff Plate, CFA, P. Geo, of Watts, Griffis and McOuat Geologic Mining Consultants. The initial published mineral resource was estimated to contained 2.145 million tonnes of material grading 1.38 g/t Au for an estimated 95,200 ounces in the indicated category and 18.398 million tonnes of material with an average grade of 1.14 g/t Au for an estimated 674,320 ounces in the inferred category at a cutoff grade of 0.30 g/t. The Company is focused on rapidly expanding the known mineralized envelope with its 100% owned diamond drilling rigs. In November 2023, Wataynikaneyap Power energized a new 115kV high tension transmission line within 40 km of the historic Lingman Lake Mine (https://www.wataypower.ca/).
To find out more about Signature, visit www.signatureresources.ca or contact:
Dan Denbow
Chief Executive Officer
(800) 259-0150
info@signatureresources.ca
or contact:
Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
Cautionary Notes
Neither the 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 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 and global geopolitical events. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306115
Source: Signature Resources Ltd.
