Signal Gold Completes Airborne Geophysical Survey and Identifies Multiple Exploration Targets in the Goldboro Gold District

TORONTO, ON / ACCESSWIRE / April 18, 2024 / Signal Gold Inc. ("Signal Gold" or the "Company") (TSX:SGNL)(OTCQX:SGNLF) is pleased to announce that it has completed a 1,245-line kilometre airborne magnetic and very low frequency ("VLF") electromagnetic survey over its recently expanded exploration land position immediately north of, and contiguous with, the Goldboro Project ("Goldboro", or the "Project). The Company now has geophysical and VLF data over the entirety of its exploration property package of approximately 27,200 hectares (~272 km²) of prospective exploration land in the Goldboro Gold District.

In addition, the Company has completed the compilation of historic geological and exploration data from the expanded property, which included databasing and the interpretation of more than 10,000 till and soil geochemical samples, 416-line kilometers of ground geophysics, 14 diamond drill holes, 116 reverse circulation drill holes, and more than 1,500 rock samples. The preliminary analysis of the historical data along with recently completed airborne and ground geophysical surveys has led to the identification of an initial four high priority growth targets: the Stewart, Fowler, Armstrong and Hurricane targets (Exhibit A and B). The Company is initiating exploration programs this spring which will further assess these prospective areas and develop specific drill targets, with the goal of identifying new discoveries while we continue drilling the western extension of the Goldboro Deposit.

"We are excited with the results of the recent airborne magnetic and VLF geophysical survey and historical compilation work over our significant land position in the Goldboro Gold District, which has highlighted numerous high-quality targets for gold discovery. We now have complete airborne geophysical data for our entire land position and a critical mass of valuable data, compiled at little cost, which has allowed us to construct a robust model for regional exploration targeting. We plan on sharing further details on each of these initial high-priority targets in the coming weeks and continue to work with our significant geological database to identify further targets. Our regional exploration activity continues to demonstrate the scale and gold camp potential of the Goldboro Gold District."

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