Signal Gold Inc. Launches Strategic Review to Enhance Goldboro Project

Signal Gold Inc., a prominent entity in the mining industry, disclosed the commencement of a strategic evaluation process for the Goldboro Project, with assistance from BMO Capital Markets, to explore various strategic alternatives. Located in Toronto, Ontario, the company underscores its commitment to elevating the Goldboro Project, distinguished for its significant growth potential and substantial mineral resource enhancement through numerous technical and permitting milestones, including the receipt of environmental assessment approval in August 2022.

After presenting a promising Feasibility Study in January 2022, showcasing Goldboro's robustness and profitability, especially in favorable gold market conditions, Signal Gold aims to tackle the current market's undervaluation of the project efficiently. With a strategic review, options such as joint ventures, sales, mergers, or other business combinations are under consideration to maximize shareholder value with minimal dilution, reflecting Signal Gold's strategic foresight in securing the project's success.

Despite the initiation of this strategic review, Signal Gold has not yet decided on any specific course of action and highlights the ongoing importance of acquiring all crucial permits within the subsequent 12 months while continuing its exploration and value maximization efforts. The appointment of BMO Capital Markets for the strategic review underscores Signal Gold’s diligent move towards potential growth and development for the Goldboro Project amidst challenging market conditions.