SIGNAL GOLD INC - SGNLF STOCK NEWS

Signal Gold announces successful diamond drill results from its Goldboro Project in Nova Scotia, revealing continued gold mineralization up to 325 metres west of the existing resource. The program, comprising 2,870 metres across 15 drill holes, showed the same style of gold mineralization as the Goldboro Deposit, with eight occurrences of visible gold in 102 intersections. Key highlights include significant grades such as 20.59 g/t gold over 3.0 metres. The company is initiating permitting for further drilling and expanding exploration licenses, suggesting ongoing resource growth potential.

Signal Gold Inc. has secured a credit facility of up to US$21 million from Nebari Gold Fund and its affiliates. The facility includes an initial draw of US$16 million to support critical pre-development activities for the Goldboro Project and repay an existing US$8 million loan. The project aims to enhance mining operations in Nova Scotia, targeting an average gold production of 100,000 ounces per annum. The facility has a two-year maturity with a possible 12-month extension. Additionally, Signal Gold will issue warrants for stock purchase as part of the deal, ensuring a non-dilutive funding approach.

Signal Gold Inc. (TSX:SGNL)(OTCQX:SGNLF) reported its operational results for Q4 and the full year 2022. During Q4 2022, the company produced 4,712 ounces of gold, bringing the annual total to 17,948 ounces. This lower production was below the guidance of 20,000 to 21,000 ounces due to operational constraints. Revenues from 18,078 ounces sold in 2022 reached $41.7 million. The cash balance stood at $9.2 million as of year-end. The company is transitioning the Point Rousse operation to care and maintenance while exploring strategic alternatives to maximize asset value.

Signal Gold Inc. (TSX:SGNL)(OTCQX:SGNLF) announced the filing of a Technical Report for the Stog'er Tight Deposit at the Point Rousse Gold Project in Newfoundland. The report outlines updated information, showing a Mineral Reserve Estimate of 726,600 tonnes at an average gold grade of 1.97 g/t, containing 46,100 ounces of gold. The deposit is considered non-material, with an estimated life of mine producing approximately 40,100 ounces. The project demonstrates positive cash flow with an undiscounted pre-tax cash flow of $9.45 million.

Signal Gold Inc. has acquired a 100% interest in six exploration licenses adjacent to its Goldboro Gold Project in Nova Scotia, increasing its exploration area from 599 hectares to 3,756 hectares. This expansion is crucial for the project's infrastructure and provides additional exploration potential, increasing the total strike length to 7.5 kilometers. The acquisition, costing $700,000 in cash and shares, also includes a 1.0% royalty on the licenses. The Goldboro project boasts significant gold reserves, including 1.15 million ounces in probable reserves, enhancing growth opportunities for the company.

Signal Gold reported strong Q3 2022 results, achieving gold sales of 5,615 ounces, a 118% increase year-over-year, generating revenue of $12.7 million at an average realized gold price of C$2,258 (US$1,729) per ounce. Production rose to 4,990 ounces, up 125% from Q3 2021, though down 8% from Q2 2022 due to scheduled maintenance. The company plans to wind down Point Rousse after Argyle mining, projected at 20,000-21,000 ounces for 2022. However, a net loss of $1.17 million was reported, consistent with prior year losses. As of September 30, 2022, Signal Gold held $12.2 million in cash and debts of $11 million.

Signal Gold Inc. has announced significant updates regarding its Point Rousse Project in Newfoundland and Labrador. The company will not proceed with developing the Stog'er Tight Project due to operational risks and will wind down operations at the Argyle Mine. A maiden Mineral Reserve Estimate revealed 726,600 tonnes at an average gold grade of 1.97 g/t, totaling 46,100 ounces of gold. The company reaffirmed its annual production guidance of 20,000 to 21,000 ounces of gold for 2022 while reviewing the exploration potential of its properties.

Signal Gold Inc. (TSX:SGNL)(OTCQX:SGNLF) reported strong Q3 2022 results, with 5,615 ounces of gold sold, a 118% increase from Q3 2021, generating $12.7 million in revenue at an average realized price of $2,258 per ounce. Gold production reached 4,990 ounces, marking a 125% increase year-over-year, despite an 8% decrease from Q2 due to scheduled mill maintenance. However, production guidance has been reduced to 20,000 - 21,000 ounces due to geotechnical challenges. Cash balance stood at $12.2 million with an undrawn credit facility of $3.0 million.

Signal Gold Inc. (TSX:SGNL)(OTCQX:SGNLF) announced results from a recent Induced Polarization geophysical survey at its Goldboro Gold Project in Nova Scotia. The survey revealed a significant chargeability response extending 400 metres west of the known Goldboro Deposit and down to depths of at least 250 metres. The company plans to conduct a 4,000-metre diamond drill program to further investigate this potential extension, which may indicate a continuity of the deposit over a minimum of 2.0 kilometres. This development highlights the growth potential of the project.