SIGNAL GOLD INC - SGNLF STOCK NEWS

Signal Gold has announced final assay results from its 5,179-metre diamond drilling program at the western extension of the Goldboro Deposit in Nova Scotia. The program, targeting near-surface mineralization, revealed significant gold intersections including 7.56 g/t gold over 1.9 metres and 3.80 g/t gold over 3.0 metres. The drilling demonstrated continuity of gold mineralization across a 450-metre strike length, with high-grade zones found in all drill holes. Previous results from the program included notable intersections such as 73.92 g/t gold over 3.8 metres. The total known gold mineralization strike length now extends to 3.4 kilometres, suggesting potential for additional open-pit mineral resources.

NexGold Mining and Signal Gold announce an increase in their concurrent financing to C$17 million due to high demand, with an option to further increase by 15%. The financing includes a C$9 million hard dollar financing through Signal Subscription Receipts at C$0.08705 per receipt, and a C$8 million flow-through financing by NexGold at C$0.80 per FT Unit. This financing supports their proposed merger, advancing the Goliath Gold Complex Project in Ontario and Goldboro Gold Project in Nova Scotia. Proceeds will fund debt retirement, project exploration, and working capital. The financing is expected to close in early November 2024.

NexGold Mining Corp. and Signal Gold Inc. have announced a merger agreement to create a leading near-term gold developer in Canada. The combined entity will have 4.7 million gold ounces of Measured and Indicated Mineral Resources and a plan to achieve 200,000+ ounces of annual production. Key highlights include:

1. Two advanced development projects with Environmental Assessment Approvals
2. Concurrent $11.5 million private placement financing
3. Proposed debt restructuring, including a new US$12 million credit facility
4. Combined property package of over 60,000 hectares with significant growth potential
5. Experienced management team led by Kevin Bullock as CEO

The transaction is expected to close in December 2024, subject to shareholder and regulatory approvals. The merger aims to create a top near-term gold developer with a robust financial position and significant synergies between the two projects.

Signal Gold Inc. (TSX:SGNL)(OTCQB:SGNLF) has accepted the Crown Land Lease and Licence Letter of Offer for the Goldboro Project in Nova Scotia. The offer covers approximately 779 hectares for the Lease and 97 hectares for the Licence of Crown lands. Formal Cabinet approval is expected in the first half of 2025, pending completion of a land survey and other conditions.

This milestone is important for infrastructure development and demonstrates progress on permitting for the Goldboro Project. The project, subject to a positive Feasibility Study, shows potential for an 11-year open pit mine with average gold production of 100,000 ounces per annum. Signal Gold remains committed to stakeholder engagement and has already received environmental assessment approval for the project.

Signal Gold Inc. (TSX:SGNL)(OTCQB:SGNLF) has announced additional high-grade gold assay results from its 5,179-metre diamond drilling program at the western extension of the Goldboro Deposit in Nova Scotia. The program aimed to delineate additional open-pit Mineral Resources. Highlights include:

- 73.92 g/t gold over 3.8 metres in drill hole BR-24-459
- 16.00 g/t gold over 4.5 metres in drill hole BR-24-459
- 40.25 g/t gold over 1.8 metres in drill hole BR-24-455
- 51.93 g/t gold over 1.5 metres in drill hole BR-24-458

These results demonstrate continuity of the Goldboro Deposit to the west and the potential for additional open pit Mineral Resources. The company believes there is significant potential to grow the Goldboro Deposit and make new gold discoveries within their consolidated land package in the historic Goldboro Gold District.

Signal Gold Inc. (TSX:SGNL)(OTCQB:SGNLF) has announced further high-grade gold assay results from its exploration drilling program at the western extension of the Goldboro Deposit in Nova Scotia. The program, comprising 5,179 metres of drilling from 26 holes, aimed to delineate additional open-pit Mineral Resources. Highlights include:

- 17.97 g/t gold over 2.5 metres in drill hole BR-24-450
- 19.00 g/t gold over 2.4 metres in drill hole BR-24-449
- 12.57 g/t gold over 1.5 metres in drill hole BR-23-453

These results, along with previously reported drilling, demonstrate the potential for additional open pit Mineral Resources and outline a robust system of gold mineralization. The company continues to achieve important project permitting milestones, including the recent granting of the Mineral Lease and the receipt of the Crown Land Lease and Licence Letter of Offer.

Signal Gold Inc. (TSX:SGNL)(OTCQB:SGNLF) has received the Crown Land Lease and Licence Letter of Offer for the Goldboro Project, covering 2,165 hectares of Crown Lands. This follows the recent receipt of the Mineral Lease. The company is progressing with regulatory approvals, including the Industrial Approval submitted in August 2023. The Federal permitting process is advancing, with the public comment period for the Fisheries Act Authorization and Schedule 2 Amendment recently concluded.

Signal Gold received Environmental Approval for the Goldboro Project on August 2, 2022. The project's Feasibility Study indicates an 11-year open pit mine life with average gold production of 100,000 ounces per annum. The company is committed to stakeholder engagement and has consolidated 28,525 hectares of exploration land in the Goldboro Gold District.

Signal Gold Inc. (TSX:SGNL)(OTCQB:SGNLF) reported its Q2 2024 financial results, highlighting progress on the Goldboro Project. Key developments include:

1. $644,292 invested in Goldboro, focusing on permits and exploration.
2. Completed a 5,179-metre drill program, revealing high-grade gold mineralization.
3. Granted a 20-year Mineral Lease for Goldboro in July 2024.
4. Advanced permitting process and regional exploration.
5. Reported a net loss of $23,016,546, primarily due to a $25,000,000 impairment charge on exploration assets.
6. Cash balance of $6,626,925 and working capital deficit of $20,340,231 as of June 30, 2024.
7. Actively considering options for the existing Credit Facility with Nebari.

Signal Gold Inc. (TSX:SGNL)(OTCQB:SGNLF) has received a 20-year Mineral Lease for the Goldboro Project from the Nova Scotia Minister of Natural Resources and Renewables. This marks a important milestone in the regulatory approval process for the project, which is subject to a positive Feasibility Study. The Goldboro Project is expected to have an 11-year open pit life with average gold production of 100,000 ounces per annum and an average diluted grade of 2.26 grams per tonne gold.

The project received environmental assessment approval on August 3, 2022, and the company has submitted all key permits. Signal Gold has consolidated 28,525 hectares of prospective exploration land in the Goldboro Gold District, with significant potential for further Mineral Resource expansion.