Phase Two Program At The Manhattan District Project

VANCOUVER – Scorpio Gold Corp. reported on four holes from its drilling program at the Manhattan District Project, Nevada, from the Phase Two program (25MN-037 through 25MN-040). Scorpio Gold has drilled 42 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045 and 26MN-046 through 26MN-048, for a grand total of 13,489 m. With the results herein, Scorpio Gold has reported assays on 30 of these (25MN-011 through 25MN-040), totalling 9,658 m, and assays are pending from 12 holes (25MN-041 through 25MN-045 and 26MN-046 through 26MN-052), totalling 3,831 m.
“These drill results continue to reinforce the geological model at Manhattan, particularly along the Reliance Trend where we’re seeing broad zones of consistent gold mineralization,” commented Harrison Pokrandt, Vice President of Exploration. “Hole 25MN-039 demonstrates the scale potential along this structure, and with twelve additional holes now completed and awaiting assays, we believe we are well positioned to deliver a steady flow of results as we advance the project across multiple target areas.”
One hole was drilled along the Reliance Trend (25MN-039), one hole was drilled at the southern end of the West Pit (25MN-037), and two holes were drilled in the Stray Dog area (25MN-038 and 25MN-040), see Figure 1. These holes tested laterally and below the Inferred Resource Constraining Pit (“IRCP”), modelled at a gold price of US$2,500 with a 0.3 g/t gold only cutoff grade, along with other inputs including: mill recovery of 90%, 50 degree pit slope angle for in-situ rock, mining costs of $3.00 per tonne for both ore and waste, milling costs of $15.00 per tonne processed, general administration cost of $3.50 per tonne processed and 2% royalty costs, and ore loss and dilution not applied. For further details see “Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada” with an effective date of June 4, 2025, on Scorpio Gold’s website, here.
Historical and current geologic mapping programs, paired with oriented core diamond drill holes have increased confidence in the structural framework of Manhattan. The mineralization noted is consistent with the Company’s existing geological model. The deposit geometries and mineralization controls are consistent with district scale structural features and the preferred host lithologies at Manhattan. Pre-existing structures intersecting basin and range expansional structures continue to be the primary focus of the mineralizing fluids, with many of the recognized structures hosting low sulphidation epithermal gold vein assemblages in their hanging walls.
Hole 25MN-037, contained five intervals, all hosted in meta-sedimentary fine grained clastic units, of 5.88 m, 10.97 m, 11.45 m, 7.74 m, and 6.71 m, grading 0.20 g/t gold, 0.28 g/t gold, 0.20 g/t gold, 0.48 g/t gold, and 1.37 g/t gold respectively. See Figure 3, section B to B’.
Hole 25MN-038, contained five intervals, all hosted in meta-sedimentary fine grained clastic units, of 6.22 m, 0.91 m, 1.52 m, 5.43 m, and 1.52 m, grading 0.30 g/t gold, 8.99 g/t gold, 3.74 g/t gold, 0.22 g/t gold, and 4.54 g/t gold respectively. See Figure 4, section C to C’.
Hole 25MN-039, contained three intervals, all hosted in X, of 41.22 m, 4.72 m and 14.42 m, grading 0.44 g/t gold, 1.30 g/t gold and 0.20 g/t gold respectively. See Figure 2, section A to A’.
Hole 25MN-040, contained one interval, hosted in meta-sedimentary fine grained clastic units, of 6.86 m grading 0.20 g/t gold.