Scorpio Gold Cash Conservation – Interest to Debenture Holders in Shares

TSX-V: SGN

Unit 1–15782 Marine Drive

White Rock, BC, V4B 1E6

T: (604) 536-2711

www.scorpiogold.com

News Release No. 285

Scorpio Gold Cash Conservation – Interest to Debenture Holders in Shares

Vancouver, April 20, 2020 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN)

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

debentures. The interest payment date i s April 27, 2020 and the interest payment record date is April 20,

2020. Subject to the approval of the TSX Venture Exchange the Company will issue a total of 6,368,600

common shares to settle its semi-annual interest payment of US$361,699.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Brian Lock

Chief Executive Officer

For further information contact:

Brian Lock

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.