Scorpio Gold Intersects 6.06 g/t Gold Over 10.67

Vancouver, February 3, 2014 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) reports further results from its 2013 satellite deposit-drilling program at the 70% owned Mineral Ridge project, located in Nevada. The Solberry deposit lies west of the currently producing Drinkwater and Mary pits and 600 meters northwest of the leach pad.

The Solberry is one of the least explored of the satellite deposits on the Mineral Ridge property. Limited past drilling has outlined a small shallow resource and floating cone pit shell. Twelve holes drilled in 2013 have provided further evidence that Solberry is not an isolated zone but forms part of a semi-continuous trend of mineralization within a shallow-dipping stratigraphic horizon. This horizon hosts the Oromonte and Wedge deposits to the southeast and the Bluelite and Brodie deposits to the south. All of these deposits lie on the western flank of an anticlinal fold structure and are considered to be related to mineralization within the Drinkwater-Mary trend, which lies on the eastern flank.

The upcoming 2014 exploration drilling program is designed to trace known mineralization at Solberry to the south and southeast toward the Oromonte deposit, and northwestward into untested ground. The current resource and pit shell at Solberry appear to be constrained by the extent of historic drilling rather than any demonstrated termination of the mineralized trend, and the proposed drill program is targeted at increasing the size and enhancing the confidence level of the current resource.

Highlights from the 2013 drilling program on the Solberry deposit include: MR13693: 7.03 g/t gold over 7.62 meters; MR13894: 6.06 g/t gold over 10.67 meters and MR13698: 1.97 g/t gold over 4.57 meters.

Scorpio Gold holds a 70% interest in the Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Waterton Global Value L.P. (30%), and is currently entitled to receive 80% of cash flow generated. Mineral Ridge is currently in production as a conventional open pit mining and heap leach operation. The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property and processing facility in Manhattan, Nevada, and is currently in process of selling the advanced exploration-stage Pinon gold property near Carlin, Nevada. The Company is assessing its exploration plans for the Goldwedge property as well as the potential for toll milling at the Goldwedge plant, which is currently permitted for 400 tons per day.