Scorpio Gold Corp. (TSX-V: SGN) (OTCQB: SRCRF) (FSE: RY9) is pleased to announce the final results from its 2024 drilling program at the Manhattan District Project, Nevada, USA. The 2024 drilling program was successful in its two goals of drilling to support an open pit focused, maiden mineral resource estimate, and drilling to test expansion potential of the Goldwedge Underground and Reliance Fault trends to the northwest of the historic Manhattan open pits. The final results from 2024 include drill hole 24MN-010, which tested the Reliance Trend successfully and added to the results announced on October 24, 2024 and December 11, 2024.

Scorpio Gold’s CEO, Zayn Kalyan, remarked, “The 2024 drilling program was successful in achieving its goals of supporting the maiden mineral resource estimate and expanding both the Goldwedge and Reliance trends. We now look forward to building on last year’s success and are in the process of planning a larger in-depth program. In 2025, we aim to tap into Manhattan’s full potential as a multi-million-ounce open pit gold resource.”

Drill hole 24MN-010 targeted the Reliance trend from the northeast side of the West Pit. This area was previously thought to be non-mineralized material outside the current deposit. The hole features mineralization near surface outside the Reliance trend, and at depth along the Reliance trend. The widest result features 0.43 g/t Au over 18 m, at 276 m drilled depth (see Table 1).

Table 1: Manhattan District gold assay highlights from 2024 drilling campaign.

QA/QC

Diamond drill core samples were bagged and secured with security tags to ensure integrity during transportation to either the Reno, NV, or Elko, NV, ALS Geochemistry facility for preparation. For Quality Assurance (“QA”), unmarked blanks (coarse and fine), unmarked certified reference materials, and requested laboratory duplicates were inserted into the sampling sequence. QA samples were systematically inserted into each batch of samples, amounting to approximately 8% of the run of samples. Samples were analyzed for gold using method Au-AA24 (50 gram), a four-acid digestion fire assay with atomic absorption spectroscopy finish. All ALS Geochemistry facilities comply with ISO/IEC 17025:2017. For detailed QA/QC refer to news release dated October 24, 2024.

Composite assay grades presented are defined as mineralized intervals using a gold grade minimum average of 0.10 g/t with no break in mineralization greater than 3.00 m.

Qualified Person

The technical information in this news release has been reviewed and approved by Thomas Poitras, P. Geo., Chief Geologist of Scorpio Gold, a “Qualified Person”, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Scorpio Gold Corp.

Scorpio Gold holds a 100% interest in two past producing projects, the Manhattan District and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, USA. Scorpio Gold’s Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge Mine, with a 400 ton per day gravity mill, and four past-producing pits that were acquired from Kinross in 2021. The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 100,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights. Scorpio Gold also holds a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada. Scorpio Gold produced over 222,440 oz of gold at Mineral Ridge between 2010 and 2017. With a proven and probable resource, valuable permits, water rights, and infrastructure, Mineral Ridge has significant near-term development potential.