Follow-Up On Discovery West Of Goldboro Mineral Resource

TORONTO - Signal Gold Inc. continues further growth exploration drilling to the west of the Goldboro Deposit at its Goldboro Project in Nova Scotia, Canada. The near-surface diamond drill program is designed to continue stepping out to the west of the current Mineral Resource to follow-up on the drill results from an initial 325-meter step-out along strike to the west.

The initial drill results to the west of the Mineral Resource demonstrated that the same style of gold mineralization and host environment as the Goldboro Deposit continues westward and the structure which hosts the Goldboro Deposit potentially extends further along the Goldboro Trend over a total known and prospective strike length to 7.5 kilometers.

The initial drill results, combined with a recent Induced Polarization (IP) geophysical survey demonstrate the ability to further grow the Mineral Resource, which currently includes a combined open pit and underground Measured and Indicated Mineral Resources of 2.58 million ounces (21.6 million tonnes at 3.72 grams per tonne (g/t) gold) and additional Inferred Mineral Resources of 0.48 million ounces (3.18 million tonnes at 4.73 g/t gold)-(Open Pit cutoff grade of 0.45 g/t and Underground cutoff grade of 2.40 g/t).

Kevin Bullock, President and CEO, said, ”We are very excited with the continued growth potential of the Goldboro Deposit, with a total known and prospective strike length to 7.5 kilometers, and which also remains open at depth. We were very pleased with the initial results along 325 meters of strike length immediately to the west of the Goldboro Mineral Resource, which importantly validate our exploration approach of targeting IP and VLF geophysical trends. While we initiate further drilling to continue stepping out towards the west, we are also advancing permitting for further geophysical surveys and drill programs along with the compilation of historical data, all with the view to demonstrate the district-scale potential of Goldboro, which is already a long-life, high-grade gold development project in Nova Scotia."