RC Drilling Program At The Manhattan West And East Pits

VANCOUVER – Scorpio Gold Corporation reported on the surface RC drilling program at the Manhattan West and East pits of the Manhattan Property in Manhattan, Nevada. Recent results report near surface, high-grade mineralization over broad intersections in the West Pit area. Twenty-three holes (5180m) representing 80% of the drill program have been completed to date, including 17 holes in the West Pit area and 6 holes at East Pit area. Two holes were added to the original program to test the on-strike extension of high-grade mineralization intersected in MWRC21-001. Assay results for the first 7 holes, including MWRC21-001, were previously reported.

Drill holes MWRC21-005, 007 and 008 targeted gold mineralization located along and east and west of two parallel north-westerly trending and north-easterly dipping fault structures (“Little Gray” fault zone) at the junction of prominent cross structures postulated to control high-grade mineralization. The Little Gray fault zone appears to be post-mineralization and has upthrown the mineralized block to near surface in this area. Gold mineralization is hosted within intensely faulted and folded quartz ± mica schist interbedded with quartzite and sandy phyllite belonging to the Paleozoic Goldhill Formation metasediments. Results received from drilling program to date from the West Pit and north of the West Pit have indicated a 300m continuous trend of mineralization from as shallow as 19m from surface in some areas of the northern section. A review of the geology and structures in drill core appears to confirm the structural and lithological controls to mineralization.

Drill hole MWRC21-005 targeted and confirmed 3 main mineralized zones delineated by historic drilling. The hole intersected mineralization at the approximate expected target depth of the upper zone from 19m, containing strongly sheared, oxidized, clayey material with schist + quartzite between 19 to 35m that returned 8.54 g/t Au over 6.1m. The most significant zone was intersected at the contact of the schist + quartzite and sandy phyllite, returning 2.92 g/t Au over 47m from 53-101m downhole. The third zone was intersected at the contact of the sandy phyllite and limestone at 139-143m, returning 6.91 g/t Au over 4.6 m.

Drill hole MWRC21-007 returned a high-grade intersection of 21.26g/t over 18m from 23m downhole, and 17.79g/t over 4.6m from 128.1m downhole. Drill hole MWRRC21-008 returned several narrow high-grade and significant intersections at depth.

Drilling is in progress to complete the 33-hole (6520m) program. Historical exploration and production drilling at the Manhattan Mine below the mined-out pits indicates a shallow, southwesterly dipping trend to mineralization. Results to date from the current program confirm the trend and dip of mineralization; however, targeted core drilling will be required to fully conclude on the controls to mineralization.