Scorpio Gold – Debentures Matured

TSXV:SGN

Unit 1–15782 Marine Drive

White Rock, BC, V4B 1E6

T: (604) 536-2711

www.scorpiogold.com

News Release No. 326

Scorpio Gold – Debentures Matured

Vancouver, April 26, 2022 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN)

elected to settle its final semi-annual interest payment on its US$7,015,000 secured subordinated

convertible debentures (the “Debentures”) by the issue of common shares at $0.0850 per share as announced

on April 21, 2022. Having received the approval of the TSX Venture Exchange, the Company today issued

a total of 5,194,976 common shares to settle its final semi-annual interest payment of $441,573

(US$349,789).

As announced on March 10, 2022, the US$7,015,000 Debentures matured on April 26, 2022, and have been

settled by the issuance of common shares of the Company at an issue price of US$0.08 per share for a total

of 87,687,500 common shares.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Chris Zerga,

President & Chief Executive Officer

Chris Zerga

Tel: (775) 753-4778

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.