Phase 2 Drilling Program At The Manhattan District

VANCOUVER – Scorpio Gold Corp. reported the commencement of its Phase 2 Drilling Program at the Manhattan District Project, Nevada, which is planned to achieve a minimum of 50,000 metres of drilling, through diamond core and reverse circulation drilling. Phase 2 will build upon the recently completed Phase 1 diamond drilling program, which consisted of 12 diamond drill holes totalling 4,216 m, and the recently announced maiden Mineral Resource Estimate.

This next phase will be executed using one diamond core drill and one reverse circulation drill, which are already drilling at site, along with a second diamond core drill, which is being mobilized. Three drills will enable a more aggressive pace towards completing a minimum of 50,000 metres of drilling in approximately 200 drill holes by the end of August 2026. This phase will primarily focus on systematically expanding the Mineral Resource Estimate (MRE) to the northwest of the West Pit, targeting both infill and step-out holes to extend the continuous mineralization along the Reliance Trend. The second focus is to continue delineating strong near-surface mineralization at Mustang Hill and expanding the MRE to the southwest of the West and East Pits. The third focus is to convert non-compliant Historic Resources, notably at the Keystone Jumbo high-grade target. Phase 2 is designed to establish an all-encompassing compliant NI 43-101 MRE for the Manhattan District and advancing Scorpio Gold’s near-term objective of defining a multi-million-ounce gold resource.

CEO, Zayn Kalyan, said, “The launch of Phase 2 marks a ramping up of activity for Scorpio Gold as we build directly on the momentum of our recently announced maiden Mineral Resource Estimate. With three rigs actively working on completing a 50,000 metre program, we are accelerating our efforts to expand what we believe has the potential to become a significant multi-million-ounce gold system at Manhattan. This program is designed not only to increase the confidence and scale of the existing resource, but also to begin delivering consistent exploration and development catalysts to the market over the next 12 months. Phase 2 is the next logical step in our strategy to unlock the full value of the Manhattan District, and we are well-positioned to execute aggressively and effectively.”

Further drilling results are pending for the four remaining Phase 1 drill holes, totalling 1,465 m, which add to previous results announced in news releases dated August 25, 2025 and October 14, 2025. These drill holes targeted (1) the Gap Zone, located between the historic Goldwedge and West Pit mines, along approximately 200 m of unexplored strike length of the Reliance Trend, and (2) Mustang Hill’s historic underground mines. The remaining Phase 1 drilling results are expected to be released soon.