Signal Gold Sells Point Rousse Project, Focuses Solely on Advancing Goldboro

Signal Gold Inc. (TSX: SGNL, OTCQX: SGNLF) is a Canadian gold mining company focused on developing and operating high-grade gold mines. The company's flagship asset is the Goldboro Gold Project located in Nova Scotia's prolific Eastern Goldfields District. With over 1 million ounces of gold in reserves, Goldboro is slated to be a large-scale, low-cost operation with an initial 11-year open pit life and significant potential for mine life expansion. Signal Gold applies modern exploration techniques and rigorous mineral processing to unlock value in mining-friendly jurisdictions.

The company recently announced that it has signed an agreement to sell its Point Rousse Project in Newfoundland to Maritime Resources Corp. for $4 million in cash and shares.

This deal allows Signal Gold to focus all of its resources on advancing the Goldboro Project. As outlined in a positive Feasibility Study, Goldboro has an estimated 11-year open pit life, with average annual production of 100,000 ounces of gold at 2.26 g/t. The project recently received key environmental approval, allowing site-specific permitting to begin.

For investors, this sale streamlines Signal Gold's portfolio and unlocks value. The company can now put all efforts toward advancing Goldboro, which has potential for resource expansion and underground mining. The project's robust economics, long mine life and exploration upside make it an attractive core asset.

With the sale of Point Rousse now agreed, investors should keep an eye on Signal Gold as it works to bring the sizable Goldboro project into production. The company's focus and dedication to this single asset could allow it to move aggressively and unlock significant value in the coming years.