Scorpio GOLD Drills 2.68 G/T GOLD over 11.34 Metres from Surface Along the Zanzibar Trend, at Manhattan, Nevada.
TSXV: SGN
#750-1095 W. Pender St.
Vancouver, BC V6E2M6
WWW.SCORPIOGOLD.COM
SCORPIO GOLD DRILLS 2.68 G/T GOLD OVER 11.34 METRES FROM SURFACE
ALONG THE ZANZIBAR TREND, AT MANHATTAN, NEVADA.
Highlights
• Hole 26MN-071 returned:
o 2.68 g/t gold over 11.34 metres (“m”) from 0.76 m , including 6.54 g/t gold over 3.41 m from
8.69 m along the Zanzibar Trend.
• Hole 26MN-070 returned:
o 0.69 g/t gold over 23.23 m from 4.05 m, including 1.61 g/t gold over 8.38 m from 18.9 m
along the Zanzibar Trend.
• The Zanzibar Trend has now returned multiple high-grade intercepts across successive step-out holes,
including:
o 25MN-044: 49.62 m grading 3.14 g/t gold (February 19, 2026)
o 26MN-063: 22.25 m grading 2.09 g/t gold (April 16, 2026)
o 26MN-067: 10.40 g/t gold over 5.67 m, including 455.52 g/t gold over 0.49 m (May 5, 2026)
May 21, 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-069 and 26MN-072, see
Figure 1. The results are tabulated in Table 1 and discussed below. Scorpio Gold has drilled 84 drill holes to
date from its Phase Two diamond drilling program , 25MN-011 through 25MN-045, 26MN-046 through 26MN-
094, for a grand total of 24,312 m. With the results herein, Scorpio Gold has reported assays on 75 of these
(25MN-011 through 25 MN-045 and 26MN -046 through 26MN -076, and 26MN -081), totalling 21,652 m, and
assays are pending from 9 holes (26MN-077 through 26MN-080 and 26MN-082 through 26MN-094), totalling
2,660 m. The pending results will be reported as they become available.
“Holes 26MN-070 and 26MN-071 continue to extend the Zanzibar Trend beyond the current Inferred Resource
Constraining Pit, with 26MN-071 returning 2.68 g/t gold over 11.34 metres from just 0.76 metres depth —
essentially from surface. The near-surface nature of this mineralization is an important characteristic of the
Zanzibar Trend that we expect to be meaningful as we evaluate the broader resource potential of this corridor.
As we step out along the Zanzibar Trend, we continue to be encouraged by the grade tenor of this system.
Since we began drilling this corridor, we have returned intercepts including 49.62 metres grading 3.14 g/t
gold in hole 25MN-044, 22.25 metres grading 2.09 g/t gold in hole 26MN-054, and 10.40 g/t gold over
5.67 metres — including 455.52 g/t gold over 0.49 metres — in hole 26MN-065. The consistency of results
across successive step-out holes gives us increasing confidence in the structural continuity of this trend.
With approximately 300 metres of untested strike length still ahead along the Zanzibar Formation, and multiple
growth fronts continuing to emerge across the Manhattan District, we believe we are still in the early stages of
defining the full scale of what this district has to offer," said Harrison Pokrandt, VP Exploration for Scorpio
Gold.
1383-1763-9454, v. 1
Figure 1. Surface Plan Map of drill results, with highlights noted. Map Inset area shown in Figure 3.
Drill hole s 26MN-070 through 26MN -071 and 26MN-073 through 26MN -074 are 50 m step -outs, along the
Zanzibar Trend, to the north of hole 26MN-068, see news release dated May 5, 2026. These drill holes tested
new Zanzibar Trend mineralization along the Caldera margin, beyond the Inferred Resource Constraining Pit
(“IRCP”). Drill hole 26MN-076 is a 50 m step-out, along the Zanzibar Trend, to the north of hole 25MN-044, see
news release dated February 19, 2026, and to the north of hole 26MN -068, see news release dated Ma y 5,
2026. This drill hole tested new Zanzibar Trend mineralization along the Caldera margin, beyond the IRCP, see
Figures 5 and 6. 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.
1383-1763-9454, v. 1
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.
1383-1763-9454, v. 1
Figure 3. 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-070 Zanzibar Trend 4.05 27.28 23.23 0.69 92 m 345° / -45°
including 18.90 27.28 8.38 1.61
26MN-071 Zanzibar Trend 0.76 12.10 11.34 2.68 113 m 305° / -45°
including 8.69 12.10 3.41 6.54
20.08 26.97 6.89 0.47
26MN-073 Zanzibar Trend 0.55 1.68 1.13 0.97 49 m 045° / -45°
26MN-074 Zanzibar Trend 1.22 3.41 2.19 0.41 77 m 345° / -45°
26MN-076 Zanzibar Trend 0.00 15.74 15.74 0.25 95 m 030° / -45°
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-070: This drill hole tested the Zanzibar Trend associated mineralization, as it trends from the southeast of
Goldwedge towards Mustang Hill. The drill hole contains one interval hosted in Ordovician Zanzibar Formation
1383-1763-9454, v. 1
limestone, directly above the stratigraphic contact with Oligocene Round Rock Formation volcanic units (Caldera
margin). The interval is 0.69 g/t gold over 23.23 m from 4.05 m, including 1.61 g/t gold over 8.38 m from 18.9 m.
26MN-071: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains two
intervals hosted in Ordovician Zanzibar Formation limestone of 2.68 g/t gold over 11.34 m from 0.76 m
(surface), including 6.54 g/t gold over 3.41 m from 8.69 m (see Figure 4); and 0.47 g/t gold over 6.89 m from
20.08 m. Below these significant intervals includes minor mineralization scattered throughout the drill hole from
~27.0 m to the Oligocene Round Rock Formation stratigraphic contact at 69.2 m.
All Zanzibar Trend intervals noted represent new mineralization outside the current IRCP, see cross -section A
to A’ (Figure 5) and cross-section B to B’ (Figure 6).
1383-1763-9454, v. 1
Figure 4. Drill hole 26MN-071, interval 7.78 m to 12.10 m, displaying Ordovician Zanzibar Formation
limestones with oxidized quartz-calcite-adularia epithermal veins.
Figure 5. Cross-section A-A’, showing gold grades with reported intervals highlighted.
1383-1763-9454, v. 1
Figure 6. Cross-section B-B’, showing gold grades with reported intervals highlighted.
26MN-073: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains one
interval hosted in Ordovician Zanzibar Formation limestone of 0.97 g/t gold over 1.13 m from 0.55 m, directly
above the Oligocene Round Rock Formation stratigraphic contact (Caldera margin).
26MN-074: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains one
interval hosted in Ordovician Zanzibar Formation limestone of 0.41 g/t gold over 2.19 m from 1.22 m, directly
above a fault zone of the Brougher Fault to the south of the Oligocene Round Rock Formation stratigraphic
contact (Caldera margin).
26MN-076: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains one
interval hosted in Ordovician Zanzibar Formation limestone of 0.25 g/t gold over 15.74 m from 0 m (surface).
Below this significant interval includes minor mineralization scattered throughout the drill hole from ~16.0 m to
the Oligocene Round Rock Formation stratigraphic contact at 30.6 m (Caldera margin).
QA/QC
1383-1763-9454, v. 1
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 PhotonAssayTM 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
adjacent to the Tertiary -aged Manhattan caldera in the Southern Toquima Range of Nevada. A “Qualified
Person” as defined in National Instrument 43- 101 - Standards of Disclosure for Mineral Projects (“NI 43-101”)
has not done sufficient work to make the Historical MRE current, and the Company is not treating the Historical
MRE as current.
Notes
• Adjacent Properties: The Company has no interest in, or rights to, any of the adjacent properties mentioned , including the Round
Mountain Gold Mine, and exploration results on adjacent properties are not necessarily indicative of mineralization on the Company’s
properties. Any references to exploration results on adjacent properties are provided for information only and do not imply any
certainty of achieving similar results on the Company’s properties.
• Historical Data: This news release includes historical information that has been reviewed by the Company’s qualified person. The
Company’s review of the historical records and information reasonably substantiate the validity of the information presented in this
presentation. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.
• Third-Party Mineral Projects: These deposits are cited solely for geological context. The Company cautions that these properties
are not necessarily adjacent to, nor does the Company or have any interest in or control over them. Although certain geological
features may be similar, there is no assurance that mineralization comparable to these deposits will be discovered on any of the
Company’s properties. Information regarding the aforementioned deposits is taken from publicly available sources and technical
reports believed to be reliable but has not been independently verified by the Company. The Company encourages readers to
exercise appropriate caution when evaluating these data and/or results.
• Mineral Resource Estimate (MRE): All scientific and technical information relating to Manhattan pertaining to Maiden MRE
contained in this news release is derived from the Technical Report dated April 23, 2026 (with an effective date of June 4, 2025)
titled “Mineral Resource Estimate and NI 43-101 Technical Report” (the “Technical Report”) prepared by Matthew R. Dumala, P.Eng
(BC) of Archer Cathro Geological (US) Ltd., Patrick Loury, M.Sc., CPG (AIPG) of Daniel Kunz & Associates, Annaliese Miller, LG
(WA) of Geosyntec Consultants, Inc. and Art Ibrado, PhD, PE (AZ) of Fort Lowell Consulting PPLC. The information contained herein
in respect of the Maiden MRE is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and
reference should be made to the full text of the Technical Report, a copy of which has been filed with the applicable securit ies
regulators and is available under the Company’s profile on www.sedarplus.ca.
• Historical MRE: A Qualified Person has not done sufficient work to make the Historical MRE current, and the Company is not treating
the Historical MRE as current.
The Company considers the Historical MRE relevant as it demonstrates the presence of significant gold mineralization across multiple
zones within Manhattan; however, its reliability is uncertain because it was prepared prior to the adoption of the current CIM Definition
Standards and current QA/QC practices. The Historical MRE provides limited disclosure of assumptions, parameters, estimation
methods, cutoff grades, and QA/QC protocols, and therefore these cannot be fully verified by the Company. The categories used in