SGLD.V · 2025-05-28 12:00:00

Scorpio Gold Appoints Leo Hathaway as Executive Technical Director

Management Changes

TSXV: SGN

#750-1095 W. Pender St.

Vancouver, BC V6E2M6

WWW.SCORPIOGOLD.COM

Scorpio Gold Appoints Leo Hathaway as Executive Technical Director

May 28, 2025 - Vancouver, British Columbia – Scorpio Gold Corporation (TSX-V: SGN, OTCQB: SRCRF,

FSE: RY9) (“Scorpio Gold”, or the “Company”) is pleased to announce the appointment of Leo Hathaway to its

Board of Directors and management team as Executive Technical Director.

Leo Hathaway, P. Geo., is a Professional Geologist with 30 years of experience in the mineral exploration

industry and is currently Executive Chairman of Golden Shield Resources Inc. and Senior Vice President of

Lumina Gold Corp. Mr. Hathaway played a pivotal role in the acquisition, advancement and sale of the ten

original Lumina Copper projects in the Americas to seven different companies, aggregating $1.65bn. He has

also had key involvement in numerous successful public and private ventures, such as Ventana Gold's La

Bodega project in Colombia and its $1.5bn sale to AUX, as well as the origination, acquisition and advancement

of Lumina Gold’s 20.5moz Cangrejos gold project in Ecuador. Mr. Hathaway holds a BSc (Hons) in Applied

Geology from the University of Plymouth, an MSc in Mineral Exploration from Imperial College, London. He is a

registered Professional Geoscientist with EGBC.

“Leo’s appointment is a transformational step for Scorpio Gold as we gear up for a new era of exploration-led

growth,” said Zayn Kalyan, CEO and Director of Scorpio Gold. “His exceptional track record of value creation in

high-grade, multimillion-ounce discoveries and strategic exits aligns perfectly with our renewed focus on

Manhattan’s world-class potential. As we shift our attention toward defining and expanding resources at this

historically rich and underexplored district—just 10 miles south of Kinross’s Round Mountain operation—Leo’s

leadership will be instrumental in guiding our exploration strategy, technical oversight, and shareholder value

creation.”

About Scorpio Gold Corp.

Scorpio Gold holds a 100% interest in two past producing projects, the Manhattan District and the Mineral Ridge

Mine, both located in the Walker Lane Trend of Nevada, USA. Scorpio Gold's Manhattan District is ~4,780 -

hectares and comprises the advanced expl oration-stage Goldwedge Mine, with a 400 ton per day gravity mill,

and four past-producing pits that were acquired from Kinross in 2021. The consolidated Manhattan District

presents an exciting late-stage exploration opportunity, with over 100,000 metres of historical drilling, significant

resource potential, and valuable permitting and water rights. Scorpio Gold also holds a 100% interest in the

Mineral Ridge gold project located in Esmeralda County, Nevada. Scorpio Gold produced over 222,440 oz of

gold at Mineral Ridge between 2010 and 2017. With a proven and probable resource, valuable permits, water

rights, and infrastructure, Mineral Ridge has significant near-term development potential.

ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION

Zayn Kalyan, Chief Executive Officer and Director

Tel: (604)-252-2672

Email: [email protected]

Investor Relations Contact:

Kin Communications Inc.

Tel: (604) 684-6730

Email: [email protected]

Connect with Scorpio Gold:

To register for investor updates please visit: scorpiogold.com

TSXV: SGN | OTC: SRCRF | FSE: RY9

Forward-Looking Statements

The Company relies on litigation protection for forward-looking statements. This news release contains

forward-looking statements that are based on the Company’s current expectations and estimates.

Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”,

“intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements

that certain events or conditions “may” or “will” occur, and include, without limitation, statements

regarding: the Company’s ability to continue creating shareholder value and build on the success of

historical work at the Manhattan Mine; the Company’s commitment to organic growth across its portfolio

of assets, with a core focus on exploration at Manhattan and dev elopment and rerate opportunities at

Mineral Ridge; the Company’s ability to deliver accretive and meaningful shareholder value in coming

months; the Company’s plan to strength its management team; the Company’s plans for exploration at

the North Star target; the Company’s focus for 2024 and the 2024 Program, including the scope and

timing thereof; the Company’s plan to update the resource estimate on the Manhattan Mine; potential

updates to the 2018 feasibility study on the Mineral Ridge project; the effect of the amalgamation with

Altus Gold; the potential to increase the resource at Mineral Ridge and leverage its established

infrastructure and permitting; the Company’s upcoming participation at marketing conferences; and the

engagement of Matrix and the expected services to be derived from such engagement. There is

significant risk that the forward-looking statements will not prove to be accurate, that the management’s

assumptions may not be correct and that actual results may differ materially from such forward-looking

statements. Such forward-looking statements involve known and unknown risks, uncertainties and other

factors that could cause actual events or results to differ materially from estimated or anticipated events

or results implied or expressed in such forward-looking statements, including those risk factors outlined

in the Company’s Management Discussion and Analysis as filed on SEDAR+. Any forward-looking

statement speaks only as of the date on which it is made and, except as may be required by applicable

securities laws, the Company disclaims any intent or obligation to update any forward-looking statement,

whether as a result of new information, future events or results or otherwise. Forward-looking statements

are not guarantees of future performance and accordingly undue reliance should not be put on such

statements due to the inherent uncertainty thereof.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

← Back to feed