SGLD.V · 2021-10-20 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. 315

Scorpio Gold – Interest to Debenture Holders in Shares

Vancouver, October 20, 2021 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX -V:

SGN) has elected to settle its semi-annual interest payment due on its US$7,125,000 secured subordinated

convertible debentures in common shares of the Company. The interest payment date is October 26, 2021

and the interest payment record date is October 19, 2021. Subject to the approval of the TSX Venture

Exchange the Company will issue a total of 4,581,401 common shares to settle its semi -annual interest

payment of C$441,424 (US$357,226) at an exchange rate of 1.2357 and an issue price of $0.0964 per share.

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.