Updated Life Of Mine Plan For The Mineral Ridge Gold Operation

VANCOUVER, BC - Scorpio Gold Corporation results of an updated Life of Mine Plan (LOM) completed for the Drinkwater, Mary/LC, Brodie, Bluelite, Solberry, Wedge and Oromonte deposits at the 70% owned Mineral Ridge Gold Operation, located in Nevada.

The updated mine plan, which includes an updated mineral reserve estimate, projects mine life for Mineral Ridge extending into the 3rd quarter of 2016, or approximately 29 months as of the end of March 2014, the date of the LOM update. Average ore production over this time frame is estimated at 73,700 tons per month ("t/m") based on estimated Probable Mineral Reserves of 2.1 million tons ("Mt") grading 0.061 oz/ton gold (131,190 oz contained gold) within estimated Indicated Mineral Resources of 2.7 Mt grading 0.059 ounces per ton ("oz/ton") gold (160,300 oz contained gold). Expansion and infill drilling of the satellite deposits has continued since the March 31, 2014 cut-off date for the LOM and is expected to add to the resource base and potentially support further conversion of current mineral resources to mineral reserves.

This LOM is inclusive of the Drinkwater and Mary/LC deposits and the five satellite deposits, Brodie, Wedge, Bluelite, Solberry and Oromonte. An Inferred Mineral Resource estimate for the Brodie, Wedge, Bluelite, and Solberry deposits, dated June 1, 2013, was reported in the Company's August 16, 2013 news release. Development drilling over the past two years has allowed for an upgrade of the previous resource estimate to include Indicated Mineral Resources containing Probable Mineral Reserves. The updated Indicated Mineral Resource estimate for the five satellite deposits is 625,100 tons grading 0.061 oz/ton gold (38,360 oz contained gold), which includes a Probable Mineral Reserve for four of the deposits of 463,880 tons grading 0.065 oz/ton gold (30,050 oz contained gold).

Peter J. Hawley, CEO commented, "We are very pleased with the results of this updated LOM study, which places the Mineral Ridge operation in a very similar position to where it was as of April 30, 2012, the date of the previous LOM study. Over the two year span, approximately 1.7 Mt of ore have been mined at Mineral Ridge, which has been more than replaced by ongoing exploration, resulting in the 2.1 Mt of ore outlined as of March 31, 2014. Results from additional development drilling completed since the March 31, 2014 cut-off date of the study have been very positive and are fully expected to further increase mine life. This latest economic study reinforces that Mineral Ridge has the potential to continue as a producing mine for years to come."