Scorpio GOLD Drills 22.25 Metres Grading 2.09 G/T GOLD, from 34.14 Metres Along the Zanzibar Trend, at the Manhattan District, Nevada
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SCORPIO GOLD DRILLS 22.25 METRES GRADING 2.09 G/T GOLD, FROM 34.14
METRES ALONG THE ZANZIBAR TREND, AT THE MANHATTAN DISTRICT,
NEVADA
Highlights
• Hole 26MN-063 returned 2.09 g/t gold over 22.25 metres (“m”) from 34.14 m, including 45.19 g/t gold
over 0.85 m from 39.84 m along the Zanzibar Trend.
• Hole 26MN-061 returned 0.54 g/t gold over 18.07 m from 50.21 m at Stray Dog.
• Hole 26MN-059 returned 1.05 g/t gold over 13.26 m from 199.03 m and 1.05 g/t gold over 13.01 m
from 281.61 m along the Reliance Trend.
April 16, 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 five step-out holes of the Phase
Two drill program at the Manhattan District Project (“Manhattan”), Nevada, USA: 26MN-059 through 26MN-063,
see Figure 1. The results are tabulated in Table 1 and discussed below. Scorpio Gold has drilled 72 drill holes
to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046 through 26MN-
077, 26MN-079, and 26MN-081, for a grand total of 20,518 m. With the results herein, Scorpio Gold has reported
assays on 48 of these (25MN-011 through 25MN -045 and 26MN -046 through 26MN -063), totalling 1 7,393 m,
and assays are pending from 16 holes (26MN-064 through 26MN-077, 26MN-079, and 26MN -081), totalling
3,125 m. The pending results will be reported as they become available.
“The Zanzibar Trend has quickly emerged as a priority-one target for the Company, representing a newly defined
zone that splays off the main Reliance structure. Surface mineralization first demonstrated in hole 25MN -044,
which returned 3.14 g/t gold over 4 9.62 metres, has now been successfully followed up with a step-out to the
southeast along a 700- metre largely untested strike corridor extending from Goldwedge to Mustang Hill. Drill
hole 26MN -063 further demonstrates continuity along the trend, particular ly along the eastern limb of the
Manhattan Anticline. As a splay off the principal structural corridor and with limited historical testing, we believe
this trend has significant potential to be additive to the existing resource base, supported by the presence of
promising grades encountered to date. We continue to allocate focused drilling to this area, with one of our three
active rigs currently dedicated to advancing the Zanzibar Trend,” stated Harrison Pokrandt, VP Exploration of
Scorpio Gold.
Figure 1. Surface Plan Map of drill results, with highlights noted. Map Inset area shown in Figure 2.
Drill hole 26MN -063 was drilled a long the Zanzibar Trend as ~ 50 m step-outs to both holes 25MN -044 and
25MN-045, see news release dated February 19, 2026, see Figure 2. Drill hole 26MN-059 is a 50 m step-out to
the southwest, along the Reliance Trend, to hole 25MN-026, see news release dated November 24, 2025. Drill
hole 26MN-062 is a 50 m step-out to the north west, along the Reliance Trend, to hole 26 MN-047, see news
release dated February 27, 2026. Two drill holes, 26MN-061 and 26MN-062, drilled at Stray Dog, stepping out
from the historic USD Pit . All the drill holes tested beyond the Inferred Resource Constraining Pit (“IRCP”),
see Figure 4. Step-out drill holes targeted non-pit constrained inferred category mineralization and
uncategorized mineralization. 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/Scorpio-Gold-
Manhattan-Mineral-Resource-Estimate-43-101-FINAL-2025-10-23.pdf.
Figure 2. Inset Surface Plan Map of Zanzibar Trend 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-059 Reliance 96.02 96.93 0.91 9.18
401 m 060° / -50° 156.91 165.93 9.02 0.48
199.03 212.29 13.26 1.05
including 204.06 207.26 3.20 3.53
221.59 226.92 5.33 0.46
252.53 256.95 4.42 0.29
including 281.60 283.40 1.80 7.16
281.61 294.62 13.01 1.05
298.63 311.20 12.57 0.72
26MN-060 Stray Dog 109.03 130.06 21.03 0.20
290 m 060° / -45° 212.20 217.17 4.97 0.28
26MN-061 Stray Dog 3.99 12.62 8.63 0.43
245 m 060° / -45° 21.64 41.42 19.78 0.20
50.21 68.28 18.07 0.54
including 61.14 66.96 5.82 1.23
107.59 114.27 6.68 0.30
188.45 198.36 9.91 0.81
including 196.91 198.36 1.45 3.50
26MN-062 Reliance 67.82 83.03 15.21 0.29 392 m 060° / -55°
including 67.82 69.98 2.16 1.51
126.19 137.74 11.55 0.29
224.19 227.66 3.47 0.70
26MN-063 Zanzibar Trend 13.41 16.40 2.99 0.45
100 m 045° / -45° 25.30 29.93 4.63 0.83
34.14 56.39 22.25 2.09
including 39.84 40.69 0.85 45.19
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.
Zanzibar Trend Results:
26MN-063: This drill hole tested the Ordovician Zanzibar Formation and associated mineralization, as it trends
from the southeast of Goldwedge towards Mustang Hill . The drill hole contains three intervals hosted in
Ordovician Zanzibar Formation limestones and fine grained meta-sedimentary units, including 0.45 g/t gold over
2.99 m from 13.41 m, 0.83 g/t gold over 4.63 m from 25.30 m, and 2.09 g/t gold over 22.25 m from 34.14 m;
including 45.19 g/t gold over 0.85 m from 39.84 m (see Figure 3). The latter interval represents new
mineralization outside the current IRCP, see cross-section A to A’ (Figure 4) and cross-section B to B’ (Figure
5).
Figure 3. Drill hole 26MN-063, interval 38.56 m to 41.27 m, displaying Ordovician Zanzibar Formation
limestones with quartz-calcite-adularia epithermal veins.
Figure 4. Cross-section A-A’, showing gold grades with reported intervals highlighted.
Figure 5. Long-section B-B’, showing gold grades with reported intervals highlighted.
Reliance Trend Results:
26MN-059: contains seven intervals hosted in the Cambrian Gold Hill Formation along the Reliance Trend to the
north of the West Pit. These intervals are hosted in fine grained meta-sedimentary clastic and carbonate units,
including 9.18 g/t gold over 0.91 m from 96.02 m, 0.48 g/t gold over 9.02 m from 156.91 m, 1.05 g/t gold over
13.26 m from 199.03 m, including 3.53 g/t gold over 3.20 m from 204.06 m, 0.46 g/t gold over 5.33 m from 221.59
m, 0.29 g/t gold over 4.42 m from 252.53 m, 7.16 g/t gold over 1.8 m from 281.6 m, and 1.05 g/t gold over 13.01
m from 281.61 m, including 0.72 g/t gold over 12.57 m from 298.63 m.
26MN-062: contains three intervals hosted in the Cambrian Gold Hill Formation along the Reliance Trend to the
north of the West Pit. These intervals are hosted in fine grained meta-sedimentary clastic and carbonate units,
including 0.29 g/t gold over 15.21 m from 67.82 m, including 1.51 g/t gold over 2.16 m from 67.82 m, 0.29 g/t
gold over 11.55 m from 126.19 m, and 0.7 g/t gold over 3.47 m from 224.19 m.
Stray Dog Results:
26MN-060: contains two intervals hosted in the Cambrian Gold Hill Formation to the southwe st of the historic
USD Pit. These intervals are hosted in fine grained meta-sedimentary clastic units containing 0.20 g/t gold over
21.03 m from 109.03 m and 0.28 g/t gold over 4.97 m from 212.2 m.
26MN-061: contains five intervals hosted in the Cambrian Gold Hill Formation to the southwest of the historic
USD Pit. These intervals are hosted in fine grained meta-sedimentary clastic units containing 0.43 g/t gold over
8.63 m from 3.99 m, 0.20 g/t gold over 19.78 m from 21.64 m, 0.54 g/t gold over 18.07 m from 50.21 m, including
1.23 g/t gold over 5.82 m from 61.14 m, 0.30 g/t gold over 6.68 m from 107.59 m, and 0.81 g/t gold over 9.91 m
from 188.45 m, including 3.5 g/t gold over 1.45 m from 196.91 m. See cross-section C to C’, Figure 6.
Figure 6. Cross-section C-C’, showing gold grades with reported intervals highlighted.
QA/QC
HQ sized diamond drill core samples were cut in halves, then bagged and secured with security tags to ensure
integrity during transportation to the Reno, NV, Paragon Geochemical facility for preparation. For q uality
assurance (“QA”), unmarked coarse blanks, unmarked certified reference materials, and requested laboratory
duplicates were inserted into the sampling sequence. QA samples were systematically inserted into each batch
of samples, amounting to approximately 10% of the run of samples. Samples were analyzed for gold using
method PA-AU02 (~500 g), a two-cycle PhotonAssay TM analysis of crushed material (70% passing 2 mm). All
Paragon Geochemical facilities comply with ISO 17025:2017.
About the Manhattan District
Manhattan, located in the Walker Lane Trend of Nevada, USA, is road accessible and lies approximately 20
kilometers south of the operating Round Mountain Gold Mine
(https://www.kinross.com/operations/default.aspx#americas-roundmountain), which has produced more than 15
million ounces of gold. For the first time, the Company has consolidated Manhattan’s past-producing mines
under a single entity that holds valuable permitting and water rights. Historically, Manhattan has produced
approximately 700,000 ounces of gold from high- grade placer and lode operations dating from the late 1890s
through to the mid-2000s.¹ The maiden mineral resource estimate (the “Maiden MRE”) covering the Goldwedge
and Manhattan Pit areas of Manhattan is comprised of 18,343,000 tonnes grading 1.26 g/t gold for a total of
740,000 oz contained gold in the inferred category.²
A historical mineral resource estimate (the “Historical MRE”) covers the Black Mammoth, April Fool, Hooligan,
Keystone, and Jumbo areas of Manhattan and comprises 1,652,325 tonnes grading 5.89 g/t gold for a total of
303,949 oz contained gold.³ The deposit is interpreted as a low-sulfidation, epithermal, gold-rich system situated