SGLD.V · 2020-10-26 12:00:00

Scorpio Gold – Interest to Debenture Holders in Shares

Debt & Credit Facilities

TSXV:SGN

Unit 1–15782 Marine Drive

White Rock, BC, V4B 1E6

T: (604) 536-2711

www.scorpiogold.com

News Release No. 301

Scorpio Gold – Interest to Debenture Holders in Shares

Vancouver, October 26, 2020 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V:

SGN) elected to settle its semi- annual interest payment on its US$7,175,000 secured subordinated

convertible debentures by the issue of common shares at $0.18 per share as announced on October 19, 2020.

Having now received the approval of the TSX Venture Exchange the Company has issued a total of

2,616,666 common shares to settle its semi-annual interest payment of $471,000 (US$357,767).

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Brian Lock,

Chief Executive Officer

Brian Lock

Tel: (604) 889-2543

Anthony Simone

Tel: (416) 881-5154

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.