Signature Resources Announces Closing of Upsized Non-Brokered Private Placement

Core Viewpoint - Signature Resources Ltd. has successfully closed a non-brokered private placement offering, raising gross proceeds of C$3,417,835 through the issuance of various units, which will support its exploration activities at the Lingman Lake Gold Project [1][4][10]. Offering Details - The offering includes 23,000,000 charity flow-through units at C$0.077 each, 10,458,401 flow-through units at C$0.060 each, and 18,533,298 non-flow-through units at C$0.055 each [2]. - Each unit consists of one common share and one-half of a common-share purchase warrant, with whole warrants allowing the purchase of additional common shares at C$0.10 for 12 months [2]. Use of Proceeds - The net proceeds from the offering will be allocated for exploration activities on the Lingman Lake Gold Project and general working capital, with approximately one-third designated for working capital and the remainder for exploration, including a 2025 drill campaign [10]. Insider Participation - Insiders of the company acquired 37% of the offering, purchasing 6,250,067 flow-through units and 15,200,000 non-flow-through units, which constitutes a related party transaction [8]. Exploration Plans - The company plans to commence a 2025 diamond drilling program of approximately 3,000 meters, targeting a large 3D IP/Mag anomaly to potentially expand the Lingman Lake deposit [5]. Company Background - Signature Resources Ltd. is focused on expanding the Lingman Lake gold deposit in Northwestern Ontario, which consists of approximately 24,821 hectares and has a historical underground mine structure [12]. The initial mineral resource estimate includes 95,200 ounces indicated and 674,320 ounces inferred [12].