Signal Gold Files Early Warning Press Release

Press Release

TORONTO, ON  December 4, 2024 / Signal Gold Inc. (the “Acquiror”) announcesthat it has disposed of ownership and control of 15,035,795 common shares (the “Subject Shares”) of Magna Terra Minerals Inc. (the “Company”) on December 3, 2024 through the facilities of Chi-x and Omega alternative markets. The Subject Shares represented approximately 18.1 % of all the issued and outstanding common shares of the Company as of December 3, 2024. As a result of the disposition of the Subject Shares, the Acquiror no longer holds any securities of the Company.

The aggregate consideration received for the Subject Shares was $225,536.93, based on the sale of 15,035,795 Subject Shares at an average price of $0.015 per Subject Share.

The holdings of securities of the Corporation by the Acquiror were managed for investment purposes. The Acquiror does not intend to acquire additional securities of the Corporation at this time.

Each of the Company’s and the Acquiror’s head office address is located at 20 Adelaide Street East, Suite 401, Toronto, ON M5C 2T6.

This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will appear with the Corporation’s filings on the System for Electronic Document Analysis and Retrieval + (SEDAR+) and may be obtained upon request from Robert Dufour, Chief Financial Officer of the Acquiror, tel. 416-403-6622.

ABOUT SIGNAL GOLD
Signal Gold is advancing the Goldboro Gold Project in Nova Scotia, a significant growth project subject to a positive Feasibility Study which demonstrates an approximately 11-year open pit life of mine with average gold production of 100,000 ounces per annum and an average diluted grade of 2.26 grams per tonne gold. (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). The Goldboro Project has significant potential for further Mineral Resource expansion, particularly towards the west along strike and at depth, and the Company has consolidated 28,525 hectares (~285 km2) of prospective exploration land in the Goldboro Gold District.

On October 10, 2024, Signal Gold announced that it had entered into a definitive agreement to combine with NexGold to create one of Canada’s most advanced near-term gold developers. The combined entity will be focused on advancing NexGold’s Goliath Gold Complex Project in Northern Ontario and Signal’s Goldboro Project in the Goldboro Gold District in Nova Scotia. Pursuant to the definitive agreement, NexGold will acquire all the issued and outstanding common shares of Signal Gold in exchange for common shares of NexGold by way of a plan of arrangement.

FOR ADDITIONAL INFORMATION CONTACT:

Signal Gold Inc.
Kevin Bullock
President and CEO
(647) 388-1842
kbullock@signalgold.com

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
(514) 722-2276 x456
Dany.Cenac-Robert@ReseauProMarket.com

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