Bruce Dawson, AScT, is Chair of Dawkam Holdings Ltd., a consortium of construction and real

TSX-V: SGN

Unit 1–15782 Marine Drive

White Rock, BC, V4B 1E6

T: (604) 536-2711

www.scorpiogold.com

News Release No. 288

Scorpio Gold Board

Vancouver, May 21, 2020 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN)

is pleased to announce the appointment of Bruce Dawson to the board of directors of the Company,

subject to approval of the TSX Venture Exchange. Murray Bockhold has resigned from the board

of directors to concentrate on his role as the custodian of Gryphon Gold.

Bruce Dawson, AScT, is Chair of Dawkam Holdings Ltd., a consortium of construction and real

estate assets. Mr. Dawson started working for the family construction bus iness in 1970 and

developed his own successful construction firm in 1990. He is a former Director of the BC

Roadbuilders & Heavy Construction Association, the Southern Interior Construction Association,

and the Council of Construction Associations.

The appointment of Bruce Dawson was made pursuant to the Board Composition Requirement of

the Convertible Secured Subordinated Debenture Indenture made as of April 26, 2019, as

amended, between the Company and Computershare Trust Company of Canada (the “Debentur e

Indenture”). The Lead Debentureholders mean collectively Ianco Holdings Ltd., a company

owned by Ian Dawson and Matco Holdings Ltd., a company controlled by Bruce Dawson (the

“Lead Debentureholders”). The Board Composition Requirements are now met as at least half of

the Board are nominees of the Lead Debentureholders given that Peter Tegart, Ian Dawson and

Bruce Dawson are the Lead Debentureholder board nominees.

With the appointment and resignation, the board of directors of the Company is now comprised of

six members including Peter Hawley, Brian Lock, Peter Brieger, Peter Tegart, Ian Dawson and

Bruce Dawson.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Brian Lock,

Chief Executive Officer

For further information contact:

Brian Lock, CEO

Tel: (604) 889-2543

Email: [email protected]

Website: www.scorpiogold.com

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

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