Concurrent $11.5 Million Private Placement Equity Financing and Proposed Debt Restructuring

Not for distribution to U.S. newswire services or dissemination in the United States

TORONTO, ON / ACCESSWIRE / October 10, 2024 / NexGold Mining Corp. (TSXV:NEXG)(OTCQX:NXGCF) ("NexGold" or "NEXG") and Signal Gold Inc. (TSX:SGNL)(OTCQB:SGNLF) ("Signal" or"SGNL") are pleased to announce that they have entered into a definitive arrangement agreement dated October 9, 2024 (the "Agreement") to combine the two companies and create a top near-term gold developer advancing NexGold's Goliath Gold Complex Project ("Goliath Project") in Northern Ontario and Signal's Goldboro Gold Project ("Goldboro Project") in the historic Goldboro Gold District in Nova Scotia (the "Transaction"). All dollar references in this release are to Canadian dollars, unless otherwise stated.

Transaction Highlights:

Two Canadian, near-term development projects, with Environmental Assessment Approvals in place, and a plan to attain production of over 200,000 ounces per year.

Combined 4.7 million gold ounces of Measured and Indicated Mineral Resources and 1.3 million gold ounces of Inferred Mineral Resources between both companies*.

Significant growth potential at both Projects, across a combined property package of more than 60,000 hectares (600 km2) with potential along strike, at depth, and through new discoveries, including recent high-grade drill results at the western extension of the Goldboro Deposit. see & read more on
https://www.accesswire.com/929721/nexgold-and-signal-gold-announce-merger-to-create-one-of-canadas-most-advanced-near-term-gold-developers-with-a-combined-47-million-gold-ounces-of-measured-and-indicated-resources-and-a-plan-to-achieve-200000-ounces-of-annual-production