Phase Two Drill Program At Manhattan District Project

VANCOUVER – Scorpio Gold Corp. reported on three step out holes of the Phase Two drill program at the Manhattan District Project, Nevada – 26MN-046, 26MN-047 and 26MN-048. The Company has drilled 47 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046 through 26MN-056, and 26MN-048, for a grand total of 15,280 m. With the results herein, Scorpio Gold has reported assays on 38 of these (25MN-011 through 25MN-045 and 26MN-046 through 26MN-048), totalling 11,907 m, and assays are pending from 9 holes (26MN-049 through 26MN-056 and 26MN-058), totalling 3,373 m. The pending results will be reported as they become available.
“Hole 26MN-048 is a pivotal step-out at Goldwedge that confirms strong gold mineralization along the caldera margin, beyond the current Inferred Resource Constraining Pit. The 28.35 metre interval grading 1.25 g/t gold from 124.75 metres, along with the broader 49.23 metre interval higher in the hole, demonstrates vertical continuity within the Zanzibar Formation and validates our structural model targeting the faulted contact between caldera volcanics and sedimentary units. Importantly, the deeper intervals convert previously uncategorized mineralization, extends the system down-dip, reinforces the openness along strike of the faulted caldera contact, and the prospective nature of the caldera-hosted corridor for further resource expansion,” stated Harrison Pokrandt, VP Exploration.
“These drill results continue to reflect our disciplined approach to advancing Manhattan and delivering meaningful updates to the market on a consistent cadence. With 47 holes completed in Phase Two and assays pending from additional step-outs, we remain committed to generating steady, high-quality technical results as we expand mineralization beyond the current resource footprint. Our objective is clear: build scale methodically and keep shareholders informed with regular, data-driven progress,” commented Zayn Kalyan, CEO and Director of Scorpio Gold.
Drill hole 26MN-048 was drilled at Goldwedge to test the faulted contact zone between caldera volcanics and Zanzibar Formation sedimentary units that host the June 2025 Inferred Mineral Resource Estimate. Drill hole 26MN-047 was drilled along the Reliance Trend, a 50 m step-out to the northwest of hole 25MN-042. Drill hole 26MN-046 was drilled to the north of the historic East Pit as a 50 m vertical step-out from drill hole 25MN-043. This drill hole was testing a northerly extension of a mineralized west trending fault splay and confirmed the mineralization exists to the east of this drill hole. All three holes tested beyond the Inferred Resource Constraining Pit (IRCP).
26MN-048: contains four intervals hosted in the Ordovician Zanzibar Formation, within limestones and fine grained meta-sedimentary units, see Figure 2. Intervals include 0.77 g/t gold over 7.53 m from 5.12 m, 0.59 g/t gold over 49.23 m from 31.69 m, 1.25 g/t gold over 28.35 m from 124.75 m, and 0.62 g/t gold over 32.13 m from 162.12 m. The latter two intervals convert uncategorized mineralization from the June 2025 Inferred Mineral Resource Estimate. Mineralization beyond the 176 m length of this drill hole sits outside of the IRCP. See Figure 3, section A to A’.
26MN-047: contains four intervals hosted in the Cambrian Gold Hill Formation. The Pine Nut Member limestone unit notes 2.60 g/t gold over 6.64 m from 53.04 m. Three intervals are within fine grained meta-sedimentary clastic and other limestone units. Intervals include 10.36 g/t gold over 1.68 m from 129.23 m, including 22.49 g/t gold over 0.76 m from 130.15 m, 0.28 g/t gold over 11.09 m from 137.35 m, and 0.55 g/t gold over 14.45 m from 167.64 m. See Figure 4, section B to B’.
26MN-046: contains one interval hosted in Cambrian Gold Hill Formation fine to medium grained meta-sedimentary clastic units, of 0.20 g/t gold over 12.04 m from 21.49 m.