Signal Gold Appoints Project Finance Advisor for the Advancement of the Goldboro Gold Project

TORONTO, September 12, 2022 - Signal Gold Inc., ("Signal Gold" or the "Company") is pleased to announce that it has engaged Auramet International, LLC ("Auramet") as Financial Advisor in conjunction with project financing for the Company's 100%-owned Goldboro Gold Project in Nova Scotia ("Goldboro" or the "Project"). Auramet will work closely with the Company to undertake a robust solicitation process for project financing and advise on the structuring, negotiating, and closing of a comprehensive financing package to advance Goldboro towards production.

"Signal Gold is pleased to announce the appointment of Auramet as Financial Advisor for the Goldboro Gold Project, as we progress towards the next steps to developing one of the next gold mines in Eastern Canada. The Auramet team brings a depth of experience and success in mine project financing which will be of tremendous value to Signal Gold, in particular with precious metals projects in Canada. The appointment is another key milestone for Goldboro, which recently received its Environmental Assessment approval in August of 2022 and has commenced other site-specific permitting processes including the Industrial Approval and Crown Land Lease and Mining Lease applications."

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

Auramet is a relationship focused global precious metals merchant and advisory firm based in North America with a proven track record in closing project finance mandates and financing mining projects throughout the Americas, Africa, Europe and Australia. They have extensive and long-standing experience in the global junior mining market, mining finance and specifically the Canadian mining sector having worked with many of the mining companies currently operating in the country.

ABOUT SIGNAL GOLD

Signal Gold is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the top-tier Canadian mining jurisdictions of Nova Scotia and Newfoundland. The Company is advancing the Goldboro Gold Project in Nova Scotia, a significant growth project subject to a positive Feasibility Study (Please see the 'NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia' on January 11, 2022 for further details). Signal Gold also operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral property, including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project.

FOR ADDITIONAL INFORMATION CONTACT:

Signal Gold Inc.
Kevin Bullock
President and CEO
(647) 388-1842
kbullock@signalgold.com

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
(514) 722-2276 x456
Dany.Cenac-Robert@ReseauProMarket.com

SOURCE: Signal Gold Inc.