Signal Gold to Commence Exploration at the High Priority Stewart Target North of the Goldboro Deposit - Seite 2

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

Exploration and Geological Details of Newly Acquired Licenses

The Stewart target covers an area of historic till sampling from 1986-1988 by Seabright Resources Inc. which defined a combined gold, antimony, and tungsten till anomaly over a 10 by 4-kilometre area. Of the 497 historic samples taken within the region, gold in till values ranged from 0 to 7000 ppb gold, with 24 of these samples assaying above 220 ppb gold (95th percentile) of which 20 samples lie within the target area (Exhibits C). Tungsten values range from 0 to 48 ppm, with 26 of these samples assaying above 10 ppm tungsten (95th percentile) of which 18 samples lie within the target area (Exhibits D). Antimony values range from 0 to 3 ppm, with 23 of these samples assaying above 0.9 ppm tungsten (95th percentile) of which 11 samples lie within the Project area (Exhibits E).

The area, including the zone of anomalous historic tills, is underlain by sedimentary rocks of the Goldenville Group, the same rocks hosting the nearby Goldboro Deposit, that have been intruded by Devonian granites of the South Mountain Batholith (East Branch and Southern Plutons). Rocks have been deformed by upright folding and faulting that make it a favourable environment to host orogenic gold deposits. In additional, the presence of younger granites provides a permissible environment for polymetallic skarn mineralization (Au, Ag, Sb, W, Sn, Mo, Pb, Zn), similar to the East Kemptville (Nova Scotia), Mount Pleasant, Lake George and Sisson Brook deposits (New Brunswick).

The 10 by 4-kilometre gold, antimony, tungsten glacial till anomaly trends southeast and is sub-parallel to the main glacial transport direction. The northern extent of the anomaly coincides with the northern contact between a granite intrusion and the host Goldenville Group sedimentary rocks delineated by an east-west trending magnetic high. This forms a favourable target for follow-up exploration with a known east-west trend along strike length of approximately 4 kilometres (Exhibits C, D, E).

Foto: Accesswire

Exhibit A. The location of high priority exploration targets at the Goldboro Project including the Stewart Target located northwest of the Goldboro Deposit.

Foto: Accesswire

Exhibit B. Airborne magnetic high trend underlying the Stewart Target with adjacent gold-bearing till and rock samples.

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