Signal Gold to Commence Exploration at the High Priority Stewart Target North of the Goldboro Deposit

TORONTO, ON / ACCESSWIRE / May 1, 2024 / Signal Gold Inc. ("Signal Gold" or the "Company") (TSX:SGNL)(OTCQX:SGNLF) is pleased to announce that it has commenced exploration work at the Stewart target approximately 10 kilometres northwest of the Goldboro Deposit and planned mine and mill infrastructure at the Goldboro Project in Nova Scotia, Canada ("Goldboro", or the "Project") (Exhibit A). Recently staked by the Company, the area has quickly become a high priority growth target within its extensive exploration land package of approximately 27,200 hectares (~272 km²) in the historic Goldboro Gold District.

The Stewart target comprises a 10 by 4-kilometre area of combined gold, antimony, and tungsten till anomalies that is centered on two large granite intrusives that, along with adjacent sedimentary rocks, have potential to host poly-metallic skarn mineralization (Exhibit A). Information from the recently completed airborne geophysical survey has outlined a 4-kilometre-long zone of highly magnetic rocks at the terminus of the till anomaly that forms a compelling exploration target (Exhibit B). Additionally, initial prospecting has located numerous quartz-vein boulders throughout the target area, as well as historic undocumented trenches that require follow-up exploration. Historic samples taken within the target region demonstrate gold in till values ranging from 0 to 7,000 parts per billion ("ppb") gold, with 20 of these samples assaying above 220 ppb gold within the target area. Using this information, the Company is planning a program of geological mapping and prospecting, soil and till geochemistry, as well as targeted ground geophysical surveys to identify specific drill targets.

"We are excited to begin exploration at the Company's recently staked property north of the Goldboro Deposit, known as the Stewart target, which has become one of our most compelling growth targets after completing data compilation and a regional airborne geophysical survey. The strong tenor of gold anomalies over a large area and coincident antimony and tungsten anomalies from till sampling, combined with the presence of gold-bearing quartz boulders assaying up to 55.5 g/t gold, underscores the potential of the Stewart target area to host orogenic gold deposits and polymetallic skarn mineralization. With this program at the Stewart target, we look forward to identifying specific drill targets with the ultimate goal of making a new discovery in the Goldboro Gold District."

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