Drilling Program Encounters Significant Intercepts

VANCOUVER - Scorpio Gold Corporation reported on Phase II reverse circulation (RC) drilling program at its Goldwedge property located in Manhattan, Nevada. The planned program consisted of fifty-nine (59) RC drill holes with a total of ten thousand eight hundred meters (10,800m) and three thousand nine hundred and thirty-five (3935) total meterage completed to date. Drilled holes for this current update, targeted (1) northeastern Mustang Hill mineralization continuity trending in a near EW strike direction, (2) the potential continuity in down dip direction of the Reliance Fault Zone and (3) the southeastern and southwestern mineralization continuity of the ‘Main Trend’ through the West Pit.

Total of twenty (20) RC drill holes have been completed to date, representing 36% (3935 meters) of the planned RC drill program. However, twelve (12) drill holes, with very high-grade mineralization intercepts at the northwestern section of the West Pit.

Gold mineralization at NE section (Mustang Hill Area) of the West Pit is predominantly within drusy quartz stockworks and botryoidal ‘veins’ in Gold Hill Quartzite±Phyllite with association of disseminated Pyrite±Chalcopyrite and sometimes Iron oxide staining. MWRC22-018 and MWRC22-021 drilled at this area intercepted wide zones of mineralization which show similar characteristics as the ‘West Pit Main Trend’. The main mineralization trend within the West Pit is predominantly drusy quartz-adularia veins occurring with coatings on fractured surfaces and dominated with Fe-stained pyrite within the Gold Hill Quartzite ±Phyllite units. MWRC22-018 which was also planned to intercept down dip continuity of the Reliance Fault Zone returned with wide mineralization intercepts ([email protected]/t; [email protected]/t) within fault structure (shear zone). Generally, this zone consisted of milled rock and gouge material along fault surfaces, and they are typically associated with brecciated and/or tight knife-edge slip surfaces with abundance of argillic clay within the zone. Cross sectional view showing significant intercepts for drill holes within Mustang Hill and Reliance Fault zones.