Signal Gold Inc. announced that it has further consolidated the Goldboro Gold District, increasing its exploration license area to over 27,200 hectares surrounding the Company's Goldboro Gold Project in Nova Scotia, Canada. This new land position, immediately north of, and contiguous with Goldboro, was acquired through the staking of seven (7) exploration licenses, covering 7,771.2 hectares that covers gold, antimony and tungsten glacial till anomalies (Exhibit A). These anomalous till samples, and associated geophysical targets, have not been previously drill tested and represent additional discovery potential in the Goldboro Gold District.

The newly acquired exploration area, known as Stewart Brook, covers an area of historic till sampling from 1986-1988 by Seabright Resources Inc. which defined a combined gold, antimony and tungsten till anomaly over a 10 by 4 kilometre area. Of the 497 historic samples taken within the region, gold in till values ranged from 0 to 7,000 ppb gold, with 24 of these samples assaying above 220 ppb gold (95th percentile) of which 20 samples lie within the Project area. Tungsten values range from 0 to 48 ppm, with 26 of these samples assaying above 10 ppm tungsten (95th percentile) of which 18 samples lie within the Project area.

Antimony values range from 0 to 3 ppm, with 23 of these samples assaying above 0.9 ppm tungsten (95th percentile) of which 11 samples lie within the Project area. The area, including the zone of anomalous historic tills, is underlain by sedimentary rocks of the Goldenville Group, the same rocks hosting the nearby Goldboro Deposit, that have been intruded by Devonian granites of the South Mountain Batholith (East Branch and Southern Plutons). Rocks have been deformed by upright folding and faulting that make it a favourable environment to host orogenic gold deposits.

Furthermore, the presence of younger granites provides a permissible environment for polymetallic (Au, Ag, Sb, W, Sn, Mo, Pb, Zn) skarn mineralization, similar to the East Kemptville (Nova Scotia), Mount Pleasant, Lake George and Sisson Brook deposits (New Brunswick). The 10 by 4 kilometre gold, antimony, tungsten glacial till anomaly trends southeast and is sub-parallel to the main glacial transport direction. The northern extent of the anomaly coincides with the northern contact between a granite intrusion and the host Goldenville Group sedimentary rocks delineated by an east-west trending magnetic high.

This forms a favourable target for follow-up exploration with a known east-west trend along strike length of approximately 4 kilometres. Two of the licenses in the Ocean Lake area are pending issuance by the Nova Scotia Department of Natural Resources and Renewables, which are expected imminently.