Signal Gold Inc. announced exploration drilling has commenced on the western extension of the Goldboro Deposit at the Goldboro Project in Nova Scotia ("Goldboro", or the "Project"). The drill program, which comprises up to 5,000 metres of diamond drilling, is designed to extend near-surface mineral resources immediately west of the existing Goldboro Deposit (Exhibit A and B). Geological modelling of the gold mineralization identified in 2023 indicates the potential to delineate additional open-pit Mineral Resources, and the potential for further gold discoveries.

Initial drilling of the first two drill holes has successfully intersected gold mineralization with 5 occurrences of visible gold as well as intersecting the host structure and associated alteration. Assays are pending for all samples collected to date. The Company has also further consolidated its position in the Goldboro Gold District through the staking of seven (7) additional exploration licences comprising 81 claims over 1,311 hectares.

The Company's exploration land position in the Goldboro Gold District is now 28,525 hectares (Exhibit C). There are no royalties associated with the newly acquired exploration licences. Selected composited highlights from previously reported drilling, located within the western extension target area, include: 26.09 g/t gold over 8.9 metres (105.5 to 114.4 metres) in hole BR-23-393 including 79.18 g/t gold over 0.5 metres and 371.59 g/t gold over 0.5 metres; 11.79 g/t gold over 4.1 metres (49.9 to 54.0 metres) in hole BR-23-386 including 47.23 g/t gold over 1.0 metres; 10.85 g/t gold over 1.3 metres (209.6 to 210.9 metres) in hole BR-23-395; 109.91 g/t gold over 0.5 metres (92.8 to 93.3 metres) in hole BR-23-399; 1.76 g/t gold over 2.4 metres (167.6 to 169.3 metres) in hole BR-23-399; 19.15 g/t gold over 1.2 metres (114.7 to 115.9 metres) in hole BR-23-388; 21.16 g/t gold over 0.7 metres (80.5 to 81.2 metres) in hole BR-23-397; and 2.44 g/t gold over 1.7 metres (167.6 to 169.3 metres) in hole BR-23-405 Drill results in 2023 conclusively demonstrate continuous gold mineralization between the western extent of the Goldboro Deposit and the past producing Dolliver Mountain Mine, bringing the total strike length of known mineralization to 3.4 kilometres.

Further drilling success of the western extension of Goldboro could potentially result in additional open-pit Mineral Resources that could leverage planned mine and mill infrastructure.