Announcement • Sep 04

Scorpio Gold Reports Results from Four Drill Holes of the Phase Two Drill Program At the Manhattan District Project

Scorpio Gold Corp. announced results from four drill-holes of the Phase Two drill program at the Manhattan District Project, Nevada, USA: 26MN-113, 26MN-115, 26MN-116, and 26MN-118. Hole 26MN-115 returned, at Goldwedge: 3.02 g/t gold over 48.92 metres from 118.87 metres including 19.29 g/t gold over 5.24 metres from 151.79 metres within the Zanzibar Formation. 5.14 g/t gold over 10.15 metres from 173.58 metres, at the faulted contact of the Zanzibar Formation and Manhattan Caldera Volcanics. 0.46 g/t gold over 16.70 metres from 210.92 metres within the Manhattan Caldera Volcanics. Hole 26MN-118 returned, at Goldwedge: 1.19 g/t gold over 99.94 metres from 98.61 metres including 5.13 g/t gold over 4.16 metres from 147.82 metres within the Zanzibar Formation. Hole 26MN-116 returned, along the Zanzibar Trend: 0.93 g/t gold over 22.16 metres from 95.71 metres including 3.72 g/t gold over 3.75 metres from 98.66 metres, within the Gold Hill Formation. 0.84 g/t gold over 25.05 metres from 205.07 metres including 3.63 g/t gold over 3.47 metres from 213.33 metres, within the Gold Hill Formation. Scorpio Gold has drilled 114 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046 through 26MN-123, for a grand total of 32,585 metres. With the results herein, Scorpio Gold has reported assays on 107 of these (25MN-011 through 25MN-045, 26MN-046 through 26MN-116, and 26MN-118), totalling 30,889 metres, and assays are pending from 7 holes (26MN-117 and 26MN-119 through 26MN-123), totalling 1,696 metres. Drill holes 26MN-115 and 26MN-118 are both approximately 50 metres step-outs along the projected Reliance Fault from high grade gold intercepted in drill hole 26MN-091, within the Manhattan Caldera Volcanics. Recent drilling at Goldwedge, including the results herein, has demonstrated consistently strong mineralization, especially in the Paleozoic sediments of the Ordovician Zanzibar Formation, located in the hanging wall of the Reliance Fault. The Reliance Fault is considered one of many feeders to mineralization. Additionally, recent results have proven that the Manhattan Caldera Volcanics can likewise host lower grade envelopes around high grade feeder structures, as demonstrated by the following previously reported intercepts: 1.69 g/t gold over 55.70 metres from 118.90 metres (24MN-009), 0.59 g/t gold over 49.23 metres from 31.69 metres (26MN-048), 11.84 g/t gold over 8.39 metres from 106.21 metres (26MN-075), 1.27 g/t gold over 45.23 metres from 137.95 metres (26MN-086), 1.17 g/t gold over 21.58 metres from 111.71 metres (26MN-089), 2.04 g/t gold over 11.83 metres from 115.67 metres (26MN-091), 1.60 g/t gold over 33.53 metres from 6.70 metres (26MN-101), 3.38 g/t gold over 33.31 metres from 138.90 metres (26MN-109), 2.05 g/t gold over 97.99 metres from 64.16 metres (26MN-110). The Gap Zone is the previously undrilled area that connects Goldwedge to the Reliance Trend and ultimately, the historic West Pit. Mineralization is hosted entirely within the meta-sediments of the Gold Hill Formation and is dominantly controlled by veins and structures related to the steeply dipping Reliance Fault. First tested in early 2025, significant mineralization at the Gap Zone includes: 1.24 g/t gold over 92.81 metres from 3.05 metres (25MN-011), 1.27 g/t gold over 14.75 metres from 194.95 metres (25MN-013), 0.80 g/t gold over 33.13 metres from 118.38 metres (25MN-017), 0.94 g/t gold over 36.97 metres from 162.95 metres (25MN-020), 2.21 g/t gold over 7.38 metres from 222.14 metres (25MN-030). The Zanzibar Trend is the previously underexplored area between Mustang Hill and Goldwedge along the faulted contact of the Paleozoic meta-sediments and the Oligocene aged volcanics of the Manhattan Caldera. High grade gold mineralization is encountered along two main controlling features: sub-vertical structures parallel to the main contact fault, and along gently to moderately dipping bedding planes primarily in the Cambrian Gold Hill Formation. Drill hole 26MN-116 steps out approximately 50 metres to multiple drill holes along the trend, including 26MN-067, 25MN-045, and 26MN-087. The results reported herein add to the significant mineralization encountered along the Zanzibar Trend, including: 3.14 g/t gold over 49.62 metres from 59.95 metres (25MN-044), 0.66 g/t gold over 57.64 metres from 29.59 metres (25MN-045), 2.10 g/t gold over 22.25 metres from 34.14 metres (26MN-063), 2.74 g/t gold over 16.49 metres from 45.45 metres (26MN-066), 12.78 g/t gold over 5.91 metres from 134.51 metres (26MN-067), 0.69 g/t gold over 23.23 metres from 4.05 metres (26MN-070), 2.68 g/t gold over 11.34 metres from 0.76 metres (26MN-071), 2.77 g/t gold over 12.68 metres from 58.64 metres (26MN-080), 0.98 g/t gold over 23.20 metres from 112.13 metres (26MN-114). Black Mammoth is a ~200+ metres step-out from Goldwedge. Strong gold mineralization can be found within the Ordovician Zanzibar sediments along structures related to the Black Mammoth Fault, and on both sides of the major fault defining the contact between the Paleozoic sediments and the Oligocene aged volcanics of the Manhattan Caldera. Results at Black Mammoth will be reported as they become available. Significant mineralization includes: 0.75 g/t gold over 24.69 metres from 230.12 metres (26MN-053), 1.02 g/t gold over 40.23 metres from 195.69 metres (26MN-057), 0.62 g/t gold over 62.21 metres from 230.43 metres (26MN-069), 6.04 g/t gold over 4.86 metres from 308.23 metres (26MN-072), 0.58 g/t gold over 18.04 metres from 311.05 metres (26MN-078), 0.83 g/t gold over 18.01 metres from 277.68 metres (26MN-092), 2.56 g/t gold over 13.38 metres from 293.28 metres (26MN-096). All 2026 drill holes tested within and beyond the Inferred Resource Constraining Pit, targeting new mineralization outside of the 2025 Mineral Resource Estimate block model. Drill Hole ID, Target, Azimuth /Dip, From (m), To (m), Intercept (m), Gold (g/t): 26MN-115 Goldwedge 118.87-167.79 48.92 3.02 including 151.79-157.03 5.24 19.29 173.58-183.73 10.15 5.14 210.92-227.62 16.70 0.46; 26MN-116 Zanzibar Trend 95.71-117.87 22.16 0.93 including 98.66-102.41 3.75 3.72 166.33-170.38 4.05 0.87 205.07-230.12 25.05 0.84 including 213.33-216.80 3.47 3.63; 26MN-118 Goldwedge 59.28-68.88 9.60 0.58 98.61-198.55 99.94 1.19 including 126.95-139.75 12.80 1.86 and 147.82-152.00 4.18 5.13 227.38-235.52 8.14 0.25; 26MN-113 Moriah 51.79-53.95 2.16 0.35. 26MN-115 contains three significant intercepts hosted in both the Ordovician Zanzibar Formation and the Oligocene Volcanics of the Manhattan Caldera.

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