Signal Gold Appoints Project Director for the Goldboro Gold Project and Enhances Its Technical Advisory Board

TORONTO, June 7, 2022 - Signal Gold Inc. ("Signal Gold" or the "Company") (TSX:SGNL)(OTCQX:SGNLF) is pleased to announce the appointment of Brian Jackson to the role of Project Director for the Goldboro Gold Project ("Goldboro" or the "Project") starting July 4, 2022. In this role, Mr. Jackson will be accountable for leading the planning and implementation of all aspects of the development of Goldboro, including permitting and related studies, detailed engineering, procurement, construction, management (EPCM) and eventually commissioning of the Project.

"We are pleased to welcome Brian to the Signal Gold team, a highly respected industry leader who will provide the leadership, expertise and direction to advance the Goldboro Gold Project towards development and eventually commercial production. Brian's experience and skills will be especially critical as we move towards detailed engineering and further studies and assessments to support the development of the Project."

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

Mr. Jackson is a respected and experienced industry leader who most recently held project director roles including Project Director for both the Selection Phase Study and Definition Phase Study for BHP's Jansen Project and as EPCM Project Director for Iamgold's Côté Project during the Execution phase. Brian has worked in EPCM focused roles with various companies, including AECOM, Proctor & Redfern, Bantrel (a Bechtel-owned company), Kvaerner, SNC-Lavalin and Wood and in the last 15 years has been focused on corporate and project management. Brian is a graduate from the University of Western Ontario with a Bachelor of Engineering Science (Mech.) in 1987 and is licensed as a Professional Engineer in the Province of Ontario.

The Company is also pleased to announce the appointment of Glen Kuntz, P. Geo., to its Technical Advisory Committee.

"We are also pleased to have Glen join our technical advisory board and a team of industry leaders with strong technical expertise which the Company can draw on as it advances the Goldboro Gold Project. Glen was critical as the leader of the Feasibility Study for Goldboro in the Project's transformation into a high-grade, long life gold development project."

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

Glen is the Chief Technical and Innovation Officer of Ivanhoe Electric Inc. a minerals exploration and development company focused on electric metals (copper, gold, silver, nickel). Prior to joining Ivanhoe Electric Glen was a consulting specialist with Nordmin Engineering Ltd., where he led the Feasibility Study for the Goldboro Gold Project. Glen has managed over 200 technical studies on various projects and mines around the world over the past 10 years. Glen is a Professional Geologist and mining executive with over 30 years of global mining experience in exploration, project development, open pit and underground mining operations and business development across a variety of commodities and mining types/methods. Glen is registered as a professional geologist in various Canadian jurisdictions.

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.