Signal Gold Intersects Further High-Grade Gold at the Western Extension of Goldboro, Including 17.97 Gold Over 2.5 Metres and 19.00 g/t Over 2.4 Metres

TORONTO, ON / ACCESSWIRE / August 20, 2024 / Signal Gold Inc. ("Signal Gold" or the "Company") (TSX:SGNL)(OTCQB:SGNLF) is pleased to announce further assay results from its exploration drilling program at the western extension of the Goldboro Deposit at the Goldboro Project in Nova Scotia ("Goldboro", or the "Project"). These results are part of the recently completed diamond drilling program that comprised 5,179 metres of drilling from 26 holes (BR-24-440 to 465) and was designed to target near-surface mineral resource potential immediately west of the existing Goldboro Deposit (Exhibit A and B) with the goal of delineating additional open-pit Mineral Resources. These results are in addition to the high-grade intercepts previously announced on July 24, 2024, which included 21.27 grams per tonne ("g/t") over 5.0 metres and 23.37 g/t gold over 1.3 metres.

The recent assay results from a further ten (10) drill holes of the program continued to intersect multiple high-grade zones of gold mineralization along with 12 occurrences of visible gold. Selected composited highlights (core length) from drilling completed to date include:

• 17.97 g/t gold over 2.5 metres (64.6 m to 67.1 m) in drill hole BR-24-450, including 87.15 g/t gold over 0.5 m;

• 19.00 g/t gold over 2.4 metres (259.6 m to 262.0 m) in drill hole in drill hole BR-24-449, including 37.88 g/t gold over 1.0 metre, and including 14.31 g/t gold over 0.5 metres;

• 12.57 g/t gold over 1.5 metres (198.0 to 199.5 m) in drill hole BR-23-453, including 31.34 g/t gold over 0.5 metres;

• 25.82 g/t gold over 0.6 metres (45.8 m to 46.4 m) in drill hole BR-24-448;

• 18.69 g/t gold over 0.5 metres (139.4 m to 139.9 m) in drill hole BR-24-449;

• 10.33 g/t gold over 0.5 metres (192.8 m to 193.3 m) in drill hole BR-24-451; and

• 10.32 g/t gold over 0.5 metres (150.5 m to 151.0 m) in drill hole BR-24-452.

"We are excited by these drill results immediately to the west of the Goldboro Deposit which continue to demonstrate the potential for additional open pit Mineral Resources outside the current deposit area at the Goldboro Project. The high-grade nature of these drill results, along with previously reported drilling west of the Goldboro Deposit, outline a robust system of gold mineralization and demonstrate continuity. We look forward to reporting additional assays from the drill program as they become available. There is strong growth and scale potential at the Goldboro Project, and we continue 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."

~ Kevin Bullock, President and CEO, Signal Gold Inc.

Assays are pending for samples collected from drill holes BR-24-454 to 465 and will be reported as they become available. Selected composited highlights from the first four (4) drill holes of this program reported on July 24, 2024, include:

• 21.27 g/t gold over 5.0 metres (146.6 m to 151.6 m) in drill hole BR-24-441, including 187.13 g/t gold over 0.5 metres and 13.13 g/t gold over 0.5 metres;

• 23.37 g/t gold over 1.3 metres (108.6 to 109.9 m) in drill hole BR-24-441;

• 4.32 g/t gold over 1.9 metres (114.4 m to 116.3 m) in drill hole BR-24-441, including 13.62 g/t gold over 0.5 metres;

• 6.46 g/t gold over 0.5 metres (212.6 to 213.1 m) in drill hole BR-24-441;

• 10.12 g/t gold over 0.5 metres (85.6 m to 86.1 m) in drill hole BR-24-440; and

• 3.20 g/t gold over 0.6 metres (114.6 to 115.2 m) in drill hole BR-24-442.

Table 1: Selected highlight assays from drill holes BR-24-444 to BR-24-453.