Signal Gold Inc. announced the filing of a technical report prepared in accordance with National Instrument 43-101 (NI 43-101) for the Stog'er Tight Deposit at the Point Rousse Gold Project in Newfoundland. The Company is filing the Technical Report on a voluntary basis as contemplated under section 4.2(12) of the Companion Policy to NI 43-101. The report is being filed to provide updated information for the Stog'er Tight Deposit and is not filed as the result of a requirement of National Instrument 43-101.

All currency is presented in Canadian dollars (CAD) and referenced as $, unless otherwise stated. Point Rousse is a non-material property to Signal Gold. Mineral Reserve Update for Stog'er Tight Deposit: The Stog'er Tight Mineral Reserve Estimate, which includes the Gabbro and 278 Zones, was prepared by Independent Qualified Person, Joanne Robinson, P.Eng., of BBA E&C Inc. The Stog'er Tight Probable Mineral Reserve is 726,600 tonnes at an average diluted gold grade of 1.97 grams per tonne (g/t) and contains 46,100 ounces of gold at a strip ratio of 7.9 to 1 waste tonnes to ore tonnes, based on a cut-off grade of 0.62 g/t gold and gold price of CAD 2,000/oz (USD 1,550/oz).

The Stog'er Tight Mineral Reserve Estimate is based on the Stog'er Tight Mineral Resource Estimate for the Stog'er Tight Deposit with an Effective Date of September 1, 2021. Under a conceptual 22-month life of mine, Stog'er Tight would produce approximately 40,100 ounces of gold based on an estimated average recovery rate of 87.0%. Stog'er Tight demonstrates positive cash-flow from operations with undiscounted pre-tax cash flows of CAD 9.45 million, a pre-tax discounted NPV (5%) of CAD 7.92 million with an IRR of 59%, and an after-tax NPV (5%) of CAD 5.63 million with an IRR of 48%.

Stog'er Tight Mineral Resource: The Stog'er Tight Mineral Resource was prepared by Qualified Person, Mr. Glen Kuntz, P.Geo. Mr. Kuntz was Independent of the Company at the time the Stog'er Tight Mineral Resource Estimate was produced and was at that time an employee of Nordmin Engineering Ltd. The Stog'er Tight Mineral Resource Estimate is based on validated results of 690 surface drill holes (506 diamond drill holes and 184 percussive drill holes), for a total of 37,584 metres of diamond drilling that was completed between 1988 and 2021 and the effective date of September 1, 2021. From these drill holes a total of 16,319 samples were analyzed for gold content.

The Stog'er Tight Mineral Resource is defined at a 0.59 g/t gold cut-off and is based upon 1 metre assay composites using a variable gold grade cap. Mineral Resources at Stog'er Tight are constrained within two open pits at the Gabbro and 278 Zones using the pit shell parameters.