Scorpio Has Record Annual Gold Production

VANCOUVER, BC - Scorpio Gold Corporation reported its operating results for full year and the fourth quarter of 2014 at its 70% owned Mineral Ridge project, located in Nevada.

Total gold production in 2014 was 40,814 ounces, an increase of 4% over the year 2013. Gold production in Q4 2014 totaled 10,258 ounces, representing a decrease of 10% from Q4 2013 and a 9% decrease from Q3 2014. Production challenges occurred in the fourth quarter of 2014 as the Company experienced a delay in receiving its mine permit for the satellite deposits. The delay created a shortfall in scheduled tons and ounces mined from those pits and had to be made up by mining in the Mary LC area. Looking forward, the Company is in the process of finalizing its 2015 budget and expects to provide guidance in Q1 2015 once the mine permit for the satellite deposits has been received.

Peter J. Hawley, CEO reports, "We are proud to report a record annual gold production of 40,814 ounces at Mineral Ridge in 2014, representing a 4% increase over 2013 and meeting our 2014 production guidance. Scorpio Gold has now completed three full years of production at Mineral Ridge and has fully transitioned production from the Drinkwater pit to the Mary pit. On behalf of the Company, I would like to thank the entire production team and contractors who continue to make the Mineral Ridge operation a success."

Scorpio Gold holds a 70% interest in the Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Waterton Global Value L.P. (30%), and is currently entitled to receive 80% of cash flow generated. Mineral Ridge is currently in production as a conventional open pit mining and heap leach operation. The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property and processing facility in Manhattan, Nevada. The Company is assessing its exploration plans for the Goldwedge property as well as the potential for toll milling at the Goldwedge plant, which is currently permitted for 400 tons per day.