Signal Gold Inc. provided an update on mine production at the Point Rousse Operation, which had experienced
operational challenges towards the end of the first quarter and into the beginning of the second quarter due to elevated
ammonia levels in the water in the Argyle open pit mine which delayed mining activity. As announced on May 2, 2022,
Point Rousse was able to successfully treat all water and commence discharging from both the pit sump and the settlement pond, which now have full available capacity, enabling a return to normal mining operations. Since restarting mining operations in early May, Point Rousse has mined 30,483 tonnes of ore from Argyle for the month and the mill processed 36,227 tonnes at a grade of 2.20 grams per tonne ("g/t") gold, resulting in reconciled production of 2,270 ounces of gold. In the first 10 days of June, the mining operations moved 7,130 tonnes of ore at an average grade of 3.33 g/t, and mill throughput has been approximately 1,295 tonnes per day at an average head grade of 3.22 g/t. Point Rousse expects to mine approximately 33 000 tonnes of ore in the month of June.