High-Grade Gold Intersections Expand Potential of Signal Gold's Goldboro Project

• Signal Gold completed a geotechnical drill program at its Goldboro gold project, totalling 1,357 meters in 7 holes.
• High-grade gold intersections were obtained, including 23.85 g/t over 6 meters and 7.74 g/t over 3.9 meters.
• 8 instances of visible gold and 32 gold mineralized intersections demonstrate the deposit remains open at depth and to the west.
• Drilling supports open pit design and will further refine the mineral resource estimate.
• Signal Gold continues its large exploration program around the past-producing Dolliver Mountain mine, aiming to expand the Goldboro deposit westward.

About Signal Gold

Signal Gold is advancing its 100%-owned Goldboro gold project in Nova Scotia, which demonstrates strong potential to become a significant new gold producer. The emerging mid-tier mining company is focused on growth opportunities in the district surrounding Goldboro, where it is progressing permitting and optimization initiatives to systematically derisk what could become a cornerstone asset. According to a 2022 feasibility study, the project hosts an approximately 11-year open pit life of mine with average annual production of 100,000 ounces. Signal Gold also sees exploration upside in the area, with Goldboro open laterally and at depth based on the latest drill results.

Latest Drilling Demonstrates Continuity of High-Grade Zones

Signal Gold has announced promising results from its recent geotechnical drill program at the Goldboro gold project in Nova Scotia, providing further evidence that this emerging district-scale opportunity has growth potential for investors.

The latest drilling comprised 1,357 meters in 7 holes within and surrounding proposed open pits from the 2022 Feasibility Study. It predictably intersected gold mineralization, with highlights including an impressive 23.85 g/t gold over 6 meters and 7.74 g/t over 3.9 meters.

“We are pleased to continue to intersect high-grade gold mineralization within the area of the planned open pits from the Feasibility Study,” stated Kevin Bullock, President and CEO of Signal Gold. “These drill holes, completed for geotechnical studies for pit slope and stability analysis, are also critical in demonstrating the continuity of mineralized zones within and near the planned open pits."

The results included 8 instances of visible gold and 32 separate gold mineralized intersections, indicating the deposit remains open at depth and to the west toward the formerly producing Dolliver Mountain mine.

As Bullock noted, “This information will further inform continuing refinement and upgrades to the Goldboro Mineral Resource estimate and assist in the definition of open pit design, all initiatives which further de-risk the Goldboro Project.”

Optimizing Open Pit Potential

The latest drilling was designed to support slope stability assessments and open pit design outlined in the 2022 Feasibility Study. Holes were collared within or near planned open pits to provide data for pit slope analysis.

According to the company, Terrane Geoscience is utilizing the data to complete these slope design studies. The drilling also provides additional information about continuity of mineralized zones projected to be included in open pit mining scenarios.

This knowledge will help optimize open pit engineering parameters and outlines. It also stands to improve Signal Gold’s understanding of the gold mineral resource volumes contained within proposed pit shells.

As Signal Gold works to continually refine and potentially expand resources at Goldboro, these initiatives help reduce risk and uncertainty around the project's fundamental open pit mining assumptions and plans.

Ongoing Resource Refinement

The drilling results will directly feed into Signal Gold’s continual efforts to upgrade the Goldboro gold resource estimate.

As Bullock explained, better definition of mineralized zones based on the new drilling will assist with fine-tuning the resource model. This provides leverage for investors by enhancing confidence in the quality and reliability of the resource supporting proposed mine plans.

Several of the reported high-grade intercepts occurred between modeled resource blocks, confirming upside potential. The deposit also remains open laterally and at depth, underscoring resource growth possibilities.

Bullock stated that the company sees opportunities to eventually consider expanding mineable underground resources as well. Further drilling and study will aim to unlock this potential value driver.

The Larger Opportunity: Expanding the District

While Signal Gold systematically derisks and optimizes Goldboro at the project level, the company also has a vision for unlocking the broader district opportunity.

As Bullock noted, the recent drilling shows mineralization remains open westward toward the historical Dolliver Mountain mine.

Signal Gold is currently conducting its largest-ever exploration program in the area around Dolliver Mountain. The goal is to demonstrate the continuity of high-grade gold mineralization and merge it into the main Goldboro deposit.

This could significantly expand the footprint and improve project economics as envisioned in the Feasibility Study. Ongoing exploration also aims to highlight the upside potential of the entire Goldboro gold district beyond the initial planned mining operation.

According to the release, "Recent high-grade gold discoveries" around Dolliver Mountain reinforce this growth narrative. This supports Signal Gold's view that the district could host multiple deposits feeding a centralized processing hub at Goldboro.

De-Risking on Multiple Fronts

The latest results provide tangible evidence that Signal Gold is advancing Goldboro on multiple fronts:

• Expanding and refining the current resource model
• Optimizing open pit plans and designs
• Pursuing growth of the deposit footprint through aggressive exploration
• Unlocking the wider district opportunity

This purposeful de-risking on several fronts improves the investment case for Goldboro. It enhances the likelihood of resource growth to extend mine life and feed production expansion.

The systematic approach also boosts investor confidence in the achievability of plans outlined in the 2022 Feasibility Study.

As Signal Gold maintains its momentum on optimization and exploration while advancing permitting, Goldboro appears positioned to create substantial value for shareholders in both the near and long term.

The Investment Thesis for Signal Gold

• Near-term gold producer with average annual output of 100,000 ounces over 11 years per 2022 feasibility study
• Systematically derisking and optimizing flagship Goldboro project on multiple fronts
• Resource growth potential laterally and at depth based on latest results
• Exploring district-scale opportunity surrounding project area
• Permitted for production with key provincial EA approval milestone achieved
• Takeout potential as an emerging mid-tier gold producer in a Tier I mining jurisdiction

With its latest results, Signal Gold continues to make systematic progress in derisking and optimizing its Nova Scotia-based Goldboro gold project. The recent drilling provides confirmation of high-grade continuity while also supporting critical open pit and resource modeling efforts. As Signal Gold further defines the potential of the broader Goldboro gold district, the company appears well-positioned to create substantial investor value.

The near-term production timeline, exploration upside, and district consolidation opportunity highlighted in the investment thesis reinforce the bull case for Signal Gold. As the company advances toward becoming an emerging Canadian gold producer in a tier I jurisdiction, Goldboro ticks multiple boxes for investors seeking quality precious metals exposure. For those with a favorable outlook on gold, Signal Gold presents a compelling opportunity to potentially ride a value creation wave as this Atlantic Canada gold district continues to emerge.