Scorpio GOLD Drills 0.58 G/T GOLD over 18.04 Metres from 311.05 Metres Within Manhattan Caldera, at Black Mammoth
TSXV: SGN
#750-1095 W. Pender St.
Vancouver, BC V6E2M6
WWW.SCORPIOGOLD.COM
SCORPIO GOLD DRILLS 0.58 G/T GOLD OVER 18.04 METRES FROM 311.05
METRES WITHIN MANHATTAN CALDERA, AT BLACK MAMMOTH
Highlights
• Hole 26MN-078 returned:
o 0.58 g/t gold over 18.04 metres (“m”) from 311.05 m at Black Mammoth.
o Mineralization found in hole 26MN -078 is hosted within volcanics of the Manhattan Caldera —
similar to the setting at the Round Mountain Gold Mine, where broad zones of gold mineralization
occur within volcanic units.1
• Hole 26MN-088 returned:
o 0.35 g/t gold over 17.4 m from 185.96 m at Black Mammoth.
• Holes 26MN-078 and 26MN-088 follow up on previous Black Mammoth holes that returned:
o 0.75 g/t gold over 24.69 m from 230.12 m (26MN-053)
o 1.02 g/t gold over 40.23 m from 195.68 m (26MN-057)
o 0.62 g/t gold over 62.21 m from 230.43 m (26MN-069)
o 0.91 g/t gold over 15.79 m from 368.65 m (26MN-072).
June 2, 2026 - Vancouver, British Columbia – Scorpio Gold Corp. (TSX-V: SGN, OTCQB: SRCRF, FSE:
RY9) (“Scorpio Gold”, or the “Company”) is pleased to announce results from two step-out holes of the Phase
Two drill program at the Manhattan District Project (“Manhattan”), Nevada, USA: 26MN-078 and 26MN-088, see
Figure 1. The results are tabulated in Table 1 and discussed below. Scorpio Gold has drilled 91 drill holes to
date from its Phase Two diamond drilling program , 25MN-011 through 25MN-045, 26MN-046 through 26MN-
101, for a grand total of 25,838 m. With the results herein, Scorpio Gold has reported assays on 73 of these
(25MN-011 through 25 MN-045, 26MN-046 through 26MN -080, and 26MN-083, 26MN-085, and 26MN -088),
totalling 21,962 m, and assays are pending from 1 8 holes (26MN-081 and 26MN-082, 26MN-084, 26MN-086
and 26MN-087, and 26MN-089 through 26MN-101), totalling 3,876 m. The pending results will be reported as
they become available. In addition to the Phase Two drill program , the Company has begun reviewing historic
core that is available at Manhattan. Any new significant results will be included as they become available, such
as drill hole GW07-04, which is included in Table 1 and discussed below.
"We continue to intersect gold mineralization within the volcanic tuffs of the Oligocene Round Rock Formation
— the caldera-fill volcanics — at Black Mammoth. Multiple holes drilled at Black Mammoth have now returned
mineralization in these volcanic units, and the intercepts are wide, consistent, and remain open. This is similar
to the geological setting at Round Mountain, where broad, disseminated gold mineralization is hosted within the
caldera-fill volcanics and has supported decades of open pit mining.
At Black Mammoth, we are now drilling into the northern end of the current defined deposit where the caldera
margin — the contact between the Ordovician sediments and the Oligocene volcanic package — becomes an
increasingly dominant feature. Critically, this zone had never been tested with modern drilling prior to our
program, making these results all the more significant. The repeatability of mineralization within the volcanic tuffs
across multiple holes gives us confidence that this has the potential to n ot just be a narrow vein system . If the
analogy to Round Mountain holds, the potential for wide, bulk-tonnage zones within the caldera volcanics at the
north end of the Manhattan District is a genuinely compelling exploration target that we have only begun to test.
Alongside our continued success at Zanzibar, we believe Black Mammoth is emerging as a second major growth
1 The Company has no interest in, or rights to, the Round Mountain Gold Mine, and mineralization at Round Mountain is
not necessarily indicative of mineralization at the Manhattan District. References to Round Mountain are provided solely
for geological context regarding caldera-hosted volcanic mineralization systems.
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front capable of adding meaningful ounces to the Manhattan District," said Harrison Pokrandt, VP Exploration
for Scorpio Gold.
Figure 1. Surface Plan Map of drill results, with highlights noted. Map Inset area shown in Figure 3.
Drill holes 26MN-078 is a 50 m step- out, at Black Mammoth , to the northeast of hole 26MN-057, see news
release dated April 1, 2026. This hole additionally steps out on and confirms mineralization in drill holes 26MN-
053, see news release dated March 19, 2026, and 26MN-069, see news release dated May 7, 2026 . Drill hole
26MN-088 is a 50 m step-out, also at Black Mammoth, to the southwest of hole 26MN-057. Both drill holes tested
greater than 250 metres beyond the Inferred Resource Constraining Pit ( “IRCP”), targeting new
mineralization outside of the 2025 MRE block model, see Figures 2 and 3. Historic drill hole GW07 -04 was
previously drilled in the area between Goldwedge and the heart of Black Mammoth , drilled through and below
the IRCP. For further details see “Mineral Resource Estimate and NI 43- 101 Technical Report, Manhattan
Property, Nye County, Nevada” with an effective date of June 4, 2025, on Scorpio Gold’s website at https://wp-
scorpiogold-2025.s3.ca-central-
1.amazonaws.com/media/2025/10/SGN_Manhattan_Mineral_Resource_Estimate_-_Amended_43-101.pdf.
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Figure 2. Geology Surface Plan Map of Target Areas, with untested strike lengths through the
Ordovician Zanzibar Formation associated mineralization noted. Map Inset area shown in Figure 3.
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Figure 3. Inset Surface Plan Map of Black Mammoth Target Area, with drill hole traces projected to
surface and result highlights noted.
Drill Hole ID Target
Azimuth / Dip From (m) To (m) Intercept¹ (m) Gold (g/t)
26MN-078 Black
Mammoth 246.37 256.49 10.12 0.33
446 m 100° / -45° 261.22 267.86 6.64 0.23
286.45 292.30 5.85 0.23
311.05 329.09 18.04 0.58
367.88 371.98 4.10 1.13
376.43 386.96 10.53 0.22
396.21 404.44 8.23 0.5
26MN-088 Black
Mammoth 136.43 145.48 9.05 0.19
550 m 115° / -55° 185.96 203.36 17.40 0.35
284.56 287.70 3.14 1.85
379.26 385.02 5.76 0.41
424.41 431.54 7.13 0.7
including 430.05 431.54 1.49 2.55
GW07-04 Black
Mammoth 32.92 51.21 18.29 0.14
334 m 240° / -65° 178.62 180.75 2.13 1.12
258.78 268.99 10.21 0.2
272.19 284.38 12.19 0.27
¹ Intervals contain no more than 3 continuous metres grading less than 0.1 g/t gold.
Table 1. Results from the current batch of drill holes. Note: There is insufficient geological information to
estimate a true width for the drill intercepts reported.
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Black Mammoth Results:
26MN-078: This drill hole tested mineralization in the Black Mammoth area, to the northwest of Goldwedge.
The drill hole contains three intervals hosted in Ordovician Zanzibar Formation limestone units, including 0.33
g/t gold over 10.12 m from 246.37 m, 0.23 g/t gold over 6.64 m from 261.22 m, and 0.23 g/t gold over 5.85 m
from 286.45 m. The drill hole contains three intervals hosted in Oligocene Round Rock Formation volcanic
units, below the Ordovician-Oligocene contact at 304.62 m, including 0.58 g/t gold over 18.04 m from 311.05 m
(see Figure 4), 1.13 g/t gold over 4.10 m from 367.88 m (see Figure 5), 0.22 g/t gold over 10.53 m from
376.43 m, and 0.50 g/t gold over 8.23 m from 396.21 m (see Figure 6).
Figure 4. Drill hole 26MN-078, interval 319.80 m to 324.61 m, displaying mineralized volcanic tuff units
within the Oligocene Round Rock Formation.
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Figure 5. Drill hole 26MN-078, interval 367.88 m to 371.98 m, displaying mineralized volcanic tuff units
within the Oligocene Round Rock Formation.
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Figure 6. Drill hole 26MN-078, interval 397.43 m to 400.17 m, displaying mineralized volcanic tuff units
within the Oligocene Round Rock Formation.
26MN-088: This drill hole also tested mineralization in the Black Mammoth area, to the northwest of Goldwedge.
The drill hole contains three significant intervals hosted in Ordovician Zanzibar Formation limestone units,
including 0.19 g/t gold over 9.05 m from 136.43 m, 0.35 g/t gold over 17.4 m from 185.96 m, and 1.85 g/t gold
over 3.14 m from 284.56 m. The drill hole contains three significant intervals hosted in Cambrian Gold Hill
Formation meta-sediments, including 0.41 g/t gold over 5.76 m from 379.26 m, 0.70 g/t gold over 7.13 m fr om
424.41 m (marble), and 2.55 g/t gold over 1.49 m from 430.05 m.
These Black Mammoth intervals represent new mineralization outside the current IRCP, see cross-section A to
A’ (Figure 7) and cross-section B to B’ (Figure 8).
GW07-04: This historic drill hole was drilled to the north of Goldwedge, and to the southeast of the current core
of Black Mammoth, partially within and below the current IRCP. The drill hole contains two significant intervals
hosted in Ordovician Zanzibar Formation limestone units, including 0.14 g/t gold over 18.29 m from 32.92 m and
1.12 g/t gold over 2.13 m from 178.62 m. The drill hole contains t wo significant intervals hosted in Cambrian
Gold Hill Formation meta-sediments, including 0.2 g/t gold over 10.21 m f rom 258.78 m and 0.27 g/t gold over
12.19 m from 272.19 m. This drill hole represents resampled mineralization within and below the IRCP, but not
currently contributing to the block model, see cross-section A to A’ (Figure 7) and cross-section B to B’ (Figure
8).
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Figure 7. Cross-section A-A’, showing gold grades with reported intervals highlighted.
Figure 8. Cross-section B-B’’, showing gold grades with reported intervals highlighted.