Signal Gold Registers The Golboro Gold Project For Environmental Assessment

TORONTO, June 13, 2022 - Signal Gold Inc. ("Signal Gold" or the "Company") (TSX:SGNL)(OTCQX:SGNLF) is pleased to announce that on June 10, 2022, the Environmental Assessment ("EA") for the Goldboro Gold Project was registered with the Government of Nova Scotia, commencing the 50-day EA review period. The EA will facilitate the Project's review as a Class I Undertaking in accordance with the Environmental Assessment Regulations in place under the Nova Scotia Environment Act.

"We are excited to announce the registration of the EA for the Goldboro Gold Project, the culmination of significant effort by the Company and its team of expert consultants to identify, assess, and develop plans to mitigate against possible adverse effects by the Project on the environment. Over the past five years, Signal Gold has comprehensively collected and analyzed baseline environmental data for the proposed Project area and has engaged in meaningful community and Mi'kmaq engagement and consultation. The resulting EA outlines a robust project with tremendous socioeconomic benefit to the community and the Province which minimizes environmental impact, recognizes Aboriginal Rights and Mi'kmaq priorities, is considerate of community priorities, and will also deliver long term value for Signal Gold shareholders."

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

All stakeholders with an interest in the project will have an opportunity to read and provide comments to the Department of Environment and Climate Change until July 10, 2022. The EARD is available on Environmental Assessment Branch web site at https://www.novascotia.ca/nse/ea/. The registration of the EA also marks the commencement of a 30-day period of Crown Consultation with the Mi'kmaq of Nova Scotia. The Company initiated early engagement and proactive information sharing with the Mi'kmaq of Nova Scotia and has reflected Mi'kmaq cultural and environmental priorities in the development of the Project.

Subsequent to the EA review process, the Minister of Environment and Climate Change is expected to provide further guidance with respect to the Project on or before July 30, 2022.

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.

FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information includes, bit is not limited to, information with respect to the Offering, the use of proceeds and the TSX acceptance of the Offering. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Signal Gold to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Signal Gold's annual information form for the year ended December 31, 2021, available on www.sedar.com. Although Signal Gold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Signal Gold does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE: Signal Gold Inc.