Scorpio Gold Corporation (TSX-V: SGN) (OTCQB: SRCRF) (FSE: RY9) is pleased to announce that its wholly-owned subsidiary, Scorpio Gold (US) Corporation, has completed its sale of Mineral Ridge Gold, LLC a wholly-owned subsidiary of Scorpio US, to an arm’s length third party.

Under the terms of the Agreement, the Purchaser acquired all membership interests in MRG, along with the related unpatented mining claims comprising MRG’s Mineral Ridge project located in Esmeralda County, Nevada, for an aggregate cash purchase price of US$7,500,000, of which (i) US$5,000,000 has been advanced by the Purchaser to the Company, (ii) a further US$1,500,000 has been paid into escrow as an indemnification holdback, with such funds to be released to the Company on November 25, 2025 (as to 50%) and May 25, 2026 (as to 50%), and (iii) a further US$1,000,000 will be paid on August 25, 2026 to the Company. The Purchaser has also assumed the reclamation bond obligations of the Company and Scorpio US related to the Project. Certain assets associated with the Project were retained by the Company and transferred to its subsidiary, Scorpio US, in advance of closing. No finder’s fee was paid in connection with the transaction.

“The successful closing of the Mineral Ridge sale marks a pivotal milestone for Scorpio Gold. By divesting this non-core asset, we have significantly strengthened our balance sheet, eliminated ongoing holding costs, and secured meaningful, non-dilutive capital to advance our flagship Manhattan District project. With a stronger financial foundation and a focused strategy, we are well positioned to unlock the full potential of what we believe is one of Nevada’s most exciting, underexplored gold districts,“ said Zayn Kalyan, CEO of Scorpio Gold.

About Scorpio Gold Corp.

Scorpio Gold holds a 100% interest in the Manhattan District project, a past producing project 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 maximum capacity gravity mill, and four past-producing pits that were acquired from Kinross in 2021 (see March 25, 2021 news release). 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.