SCORPIO GOLD CORP - SRCRF STOCK NEWS

Scorpio Gold (SRCRF) has appointed Jeffery Lindstrom as VP of Operations to manage its Manhattan and Mineral Ridge mines in Nevada. Lindstrom, an associate with Daniel Kunz and Associates (DKA), brings over 30 years of mining industry experience. The company announced that Christopher Zerga and Diane Zerga are no longer serving as COO and VP Operations respectively, though Christopher remains a director. Additionally, the company granted 4.3 million stock options at $0.135, 350,000 stock options at $0.15, and 900,000 restricted share units to consultants and employees.

Scorpio Gold has appointed Leo Hathaway as Technical Advisor to its advisory panel. Hathaway is a Professional Geologist with 30 years of industry experience, currently serving as Executive Chairman of Golden Shield Resources and Senior VP of Lumina Gold. His notable achievements include the $1.65bn sale of Lumina Copper projects and involvement in Ventana Gold's $1.5bn La Bodega project sale. The appointment aims to strengthen the company's technical team as it works toward filing a NI-43-101 compliant resource at Manhattan in Q1 2025 and advancing exploration in the Manhattan District along Nevada's Walker Lane Trend.

Scorpio Gold has announced significant drilling results from its 2024 Manhattan District campaign in Nevada. Notably, Hole 24MN-007 yielded 6.08 g/t Au over 9.4 metres, including 15.62 g/t Au over 3.4m and 63.70 g/t Au over 1.0m. Hole 24MN-006 returned 5.50 g/t over 1.5m and 5.33 g/t over 2.2m.

The drilling program demonstrates potential to connect high-grade gold mineralization from Goldwedge Underground through Echo Bay West and East Pits, spanning approximately 1.8 km. The company is working towards Manhattan's maiden mineral resource estimate, with additional assay results pending from Phase 1 and 2 drill holes.

Scorpio Gold (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) has announced its participation in two upcoming investor events. CEO and Director Zayn Kalyan will be attending the 121 Mining Investment New York conference on October 21-22, 2024, where he will speak on the Exploration Panel and conduct one-on-one meetings with investors. Additionally, Mr. Kalyan is scheduled to present at the 2024 Kinvestor Day Virtual Conference on October 24th at 11:45 am PST / 2:45 pm EST.

The Kinvestor Day 2024 (KD24) is a virtual conference featuring small and mid-cap public companies in mining and other sectors. It will include a roundtable panel on gold and precious metals with industry experts. Scorpio Gold recently closed a $2.5 million private placement on October 3, 2024, and is awaiting assay results from Phase 1 of the Manhattan Drill Campaign announced on August 1, 2024.

Scorpio Gold (TSXV: SGN) (OTCQB: SRCRF) has significantly expanded its land position at the Manhattan project, increasing from 2,063 hectares to approximately 4,779 hectares. This expansion includes the staking of over 2,716 hectares of new unpatented claims, driven by a review of historic exploration data compiled by Kinross Gold and Scorpio Gold.

The Manhattan District has historically produced over 600,000 ounces of gold from various mining operations. The area is characterized by low sulfidation epithermal gold and silver mineralization, as well as Carlin-type mineralization in certain parts. The new claims show anomalous metals in soils, particularly elevated gold, arsenic, and antimony, which are proximal to a low angle thrust contact between geological formations.

Scorpio Gold (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) has announced its participation in the upcoming Metals Investor Forum in Vancouver on September 20-21, 2024. CEO Zayn Kalyan will deliver a corporate presentation on September 20th at 10:40am PT. The company has also completed two share-for-debt transactions, issuing 18,950,411 common shares to extinguish $4,098,099 in debt. Additionally, Scorpio Gold has engaged the Mining Stock Daily Podcast for priority dissemination and advertising services, agreeing to pay US$6,000 per month for 12 months, subject to TSX Venture Exchange approval.

Scorpio Gold (TSXV: SGN) (OTCQB: SRCRF) has completed Phase 1 of its 2024 Manhattan drill campaign and is commencing Phase 2. Phase 1 consisted of 5 drill holes totaling 1,178 meters, while Phase 2 will include 13 holes covering 3,109 meters. The program aims to extend known mineralization and bridge the Goldwedge and Manhattan targets into a larger resource. Key points:

• Manhattan is a low-sulfidation epithermal gold deposit in Nevada
• Previous drilling campaigns in 2022 and 2021 yielded significant results
• The program's goal is to support a NI 43-101 compliant resource report
• Daniel Kunz & Associates is providing technical consulting
• The company plans to settle $750,000 in debt through share issuance

Scorpio Gold (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) has commenced trading on the OTCQB Venture Market under the symbol 'SRCRF' on July 18, 2024. The company's shares are now eligible for DTC services, facilitating electronic clearing and settlement in the United States. Scorpio Gold will continue trading on the TSX Venture under 'SGN'.

The OTCQB listing aims to provide greater exposure and trading convenience for U.S. investors, potentially enhancing liquidity and diversifying the investor base. CEO Zayn Kalyan expressed optimism about the company's Nevada-based assets resonating with U.S. capital markets.

Additionally, Scorpio Gold has issued 3,650,000 incentive stock options to directors, officers, and consultants, exercisable at $0.15 per share with varying expiry dates in 2029 and 2030.

Scorpio Gold (OTC Pink: SRCRF) has appointed Harrison Pokrandt as their new Vice President of Exploration. Mr. Pokrandt brings over eight years of diverse geologic experience, working on significant gold deposits globally, including projects in Canada, the US, Uzbekistan, Finland, Japan, and Mali. He has previously contributed to major projects like B2Gold's Fekola and Skeena Resources' Eskay Creek.

In his new role, he will lead Scorpio's exploration initiatives, focusing on the current drill campaign at the Manhattan Mine. Mr. Pokrandt's expertise includes corporate development and the use of machine learning for prospectivity analysis, which Scorpio aims to leverage for resource expansion and production acceleration. Additionally, Scorpio's shareholders have approved a new equity incentive plan.