Signal Gold Sells Tilt Cove Project to FireFly Metals for $4 Million

Signal Gold Inc., a Toronto-based company, has announced a share purchase agreement with FireFly Metals Ltd. for the sale of its Tilt Cove Project in Newfoundland. FireFly will acquire Tilt Cove Gold Corp., owning all exploration rights and obligations related to Tilt Cove. The transaction, set to close by mid-November 2024, includes a cash payment of $570,000 and FireFly shares valued at $2.5 million, plus a potential $1 million milestone payment based on future resource estimates.

Kevin Bullock, President and CEO of Signal Gold, highlighted the potential at Tilt Cove, comprising 15,000 hectares of mineral lands and a 35-kilometer strike length. This sale allows Signal Gold to focus on its Goldboro Project in Nova Scotia.