Signature Resources Appoints Dan Denbow as an Advisor to Management and the Board of Directors
January 19 2021 - 7:30AM
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3)
("Signature" or the "Company") is pleased to announce the
appointment of Dan Denbow as an advisor to the Company.
Dan Denbow has spent over 28 years in the
capital markets with his most recent experience associated with
USAA Investment Management Company. As a portfolio manager for USAA
Mr. Denbow was responsible for managing over US$4 billion in three
strategies; a domestic dividend and global dividend strategy and
the USAA Precious Metals and Minerals Fund. Dan and his team have
received eight Lipper Fund awards, six Lipper Fund Achievement
certificates, a TopGun Investment Mind award in 2018 from Brendan
Wood International, and the USAA Precious Metals Fund was named the
“Fund of the Decade” for the ten-year period ending 2009. The USAA
Precious Metals and Minerals Fund focused on selection of gold
mining securities with a relative value ranking adjusting for risk
based on factors including asset quality, management quality, and
balance sheet quality. Dan holds an MBA from Texas Christian
University, Neeley School of Business and is a CFA
charterholder.
“I am very excited to be able to provide my experience and guidance
to the Signature Resources team as they work to advance the Lingman
Lake property from an attractive under-explored prospect through
its life cycle and achieving its ultimate potential for
shareholders. The significant historical data from prior work on
the property does provide a glimpse into the potential for this
property.” |
J. Dan Denbow, CFA – Advisory Board |
|
“We have known Dan Denbow for a number of years now and have always
appreciated his strategic guidance and his strict adherence to the
highest standards of corporate governance. We are honoured to have
such an experienced finance professional join our team as an
advisor to the board of directors and management.” |
Robert Vallis - President & CEO |
Stock OptionsThe Company has
also granted 200,000 incentive stock options to Mr. Denbow as a
result of his appointed. The options shall have an exercise price
of $0.11, expire five years from the date of issuance, and shall
vest 25% immediately, and 12.5% ever six months thereafter through
to the third anniversary.
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
Officer416-270-9566
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 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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