Scorpio GOLD Drills 2.77 G/T GOLD over 12.68 Metres from 58.64 Metres Along the Zanzibar Trend, at Manhattan, Nevada.
TSXV: SGN
#750-1095 W. Pender St.
Vancouver, BC V6E2M6
WWW.SCORPIOGOLD.COM
SCORPIO GOLD DRILLS 2.77 G/T GOLD OVER 12.68 METRES FROM 58.64
METRES ALONG THE ZANZIBAR TREND, AT MANHATTAN, NEVADA.
Highlights
• Hole 26MN-080 returned:
o 2.77 g/t gold over 12.68 metres (“m”) from 58.64 m, including 20.93 g/t gold over 1.58 m from
64.62 m along the Zanzibar Trend.
o 0.73 g/t gold over 28.38 m from 82.20 m along the Zanzibar Trend.
• Hole 26MN-083 returned:
o 0.49 g/t gold over 23.16 m from 72.06 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)
o 26MN-071: 11.34 m grading 2.68 g/t gold (May 21, 2026)
May 28, 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-077, 26MN-079, 26MN-
080, 26MN -083, and 26MN-085, see Figure 1. The results are tabulated in Table 1 and discussed below.
Scorpio Gold has drilled 89 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through
25MN-045, 26MN-046 through 26MN-100, for a grand total of 2 5,399 m. With the results herein, Scorpio Gold
has reported assays on 72 of these (25MN-011 through 25MN-045 and 26MN-046 through 26MN-077, 26MN-
079 through 26MN-081, 26MN-083 and 26MN-085), totalling 21,039 m, and assays are pending from 17 holes
(26MN-078, 26MN-082, 26MN-084 through 26MN-100), totalling 4,360 m. The pending results will be reported
as they become available.
“Step-out drilling along the Zanzibar Trend continues to sharpen our structural understanding of the corridor
while continuing to expand the mineralized footprint with each successful intercept. Holes 26MN-077 and 26MN-
079 did not return the broader intercepts seen in adjacent holes, but they provide important constraints on the
geometry of the trend, the position of the controlling structures, and the limits of the higher-grade zones.
What is becoming increasingly clear is that mineralization along the Zanzibar Trend is governed by multiple,
overlapping controls rather than a single feature. We are seeing gold hosted in Ordovician Zanzibar Formation
limestones, across the Ordovician– Cambrian stratigraphic contact in mixed clastic and carbonate meta-
sediments, within Cambrian Gold Hill Formation meta- sediments, an d along the Oligocene Round Rock
Formation contact that defines the Caldera margin — with oxidized quartz-calcite-adularia epithermal veining,
as seen in hole 26MN -080, providing direct evidence of the low -sulfidation epithermal system at work. The
interplay between favourable stratigraphy, structural preparation, and proximity to the Caldera margin is what
makes this corridor so productive, and it is also why every hole — whether it intersects high-grade mineralization
or defines an edge — refines the model.
That model is what has allowed us to deliver a series of successful step-out intercepts — 25MN-044, 26MN-063,
26MN-067, 26MN-071, and now 26MN-080 — across an expanding footprint along the corridor, adding ounces
of potential as we go. Phase Two drilling has now successfully encountered high grade gold mineralization along
approximately half of the previously untested 300 metres of strike length along the Zanzibar Trend. The structural
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framework and understanding of mineralization controls strengthens with each hole; we believe we remain in the
early stages of defining the full scale of this trend," said Harrison Pokrandt, VP Exploration for Scorpio Gold.
New Video: Structural Interpretation and Potential of the Zanzibar Trend
Scorpio Gold has released a new video that walks through the Company's evolving structural interpretation of
the Zanzibar Trend and the broader potential this corridor represents within the Manhattan District. The video
presents the geological framework that has guided our step-out program, including the role of the Ordovician
Zanzibar Formation limestone as a host unit, the structural controls on mineralization along the Caldera
margin, and the relationship between the Zanzibar Trend and adjacent target areas including Goldwedge,
Mustang Hill, and the Reliance Trend.
The video is available on the Company's website at [scorpiogold.com] and on the Company's YouTube
channel: https://scorpiogold.com/prvideo
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Figure 1. Surface Plan Map of drill results, with highlights noted. Map Inset area shown in Figure 3.
Drill holes 26MN-080 and 26MN-083 are 50 m step-outs, along the Zanzibar Trend, to the north of hole 26MN-
044, see news release dated February 19, 2026 , and to the west of hole 25MN -021, see news release dated
November 24, 2025. Drill holes 26MN-077 and 26MN-079 are 50 m step-outs, along the Zanzibar Trend, to the
northwest of holes 26MN -080 and 26MN -083, and to the southwest of holes 26MN-070 and 26MN -071, see
news release dated May 21, 2026. These drill holes tested new Zanzibar Trend mineralization and along the
Caldera margin, beyond the Inferred Resource Constraining Pit (“IRCP”), see Figure 5. Drill hole 26MN-085
is a 50 m step-out, along the Reliance Trend, to the southeast of the lower significant interval in hole 25MN-011,
see news release dated August 25, 2025, of 1.50 g/t gold over 25.15 m. This drill hole tested new mineralization
along the Caldera margin, beyond the IRCP, see Figure 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.
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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 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-077 Zanzibar Trend 10.05 15.48 5.43 0.53
71 m 015° / -45° 24.93 26.82 1.89 2.03
44.72 52.58 7.86 0.29
26MN-079 Zanzibar Trend 20.55 32.92 12.37 0.16 139 m 310° / -45°
26MN-080 Zanzibar Trend 20.12 30.45 10.33 0.22
154 m 043° / -63° 58.64 71.32 12.68 2.77
including 64.62 66.20 1.58 20.93
82.20 110.58 28.38 0.73
including 92.84 96.42 3.58 2.34
and 99.67 101.94 2.27 2.11
125.28 133.81 8.53 0.52
26MN-083 Zanzibar Trend 13.36 24.35 10.99 0.72
116 m 030° / -49° 41.02 50.44 9.42 0.23
72.06 95.22 23.16 0.49
26MN-085 Reliance 46.94 56.08 9.14 0.20
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305 m 050° / -45° 96.04 112.62 16.58 0.51
120.36 122.77 2.41 7.52
266.33 274.93 8.60 0.41
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-083: This drill hole tested the Zanzibar Trend associated mineralization, as it trends from the southeast of
Goldwedge towards Mustang Hill. The drill hole contains three intervals hosted in Ordovician Zanzibar Formation
limestone of 0.72 g/t gold over 10.99 m from 13.36 m, 0.23 g/t gold over 9.42 m from 41.02 m, and 0.49 g/t gold
over 23.16 m from 72.06 m. The later interval is directly above, and at, the stratigraphic contact with Oligocene
Round Rock Formation volcanic units (Caldera margin).
26MN-080: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains two
intervals hosted in Ordovician Zanzibar Formation limestone of 0.22 g/t gold over 10.33 m from 20.12 m and
2.77 g/t gold over 12.68 m from 58.64 m, including 20.93 g/t gold over 1.58 m from 64.62 m (see Figure 4).
One interval exists through the Ordovician/Cambrian stratigraphic contact in a mixture of clastic and carbonate
meta-sediments. The interval is 0.73 g/t gold over 28.38 m from 82.2 m, including 2.34 g/t gold over 3.58 m
from 92.84 m and 2.11 g/t gold over 2.27 m from 99.67 m. There is one significant interval within Cambrian
Gold Hill Formation meta-sediments of 0.52 g/t gold over 8.53 m from 125.28 m, that sits directly above the
Oligocene Round Rock Formation stratigraphic contact at ~133 m (Caldera margin).
26MN-079: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains one
interval hosted in Ordovician Zanzibar Formation limestone of 0.16 g/t gold over 12.37 m from 20.55 m.
26MN-077: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains
three intervals hosted in Ordovician Zanzibar Formation limestone of 0.53 g/t gold over 5.43 m from 10.05 m,
2.03 g/t gold over 1.89 m from 24.93 m, and 0.29 g/t gold over 7.86 m from 44.72 m. The later interval is
directly above, and at, the stratigraphic contact with Oligocene Round Rock Formation volcanic units (Caldera
margin).
All Zanzibar Trend intervals noted represent new mineralization outside the current IRCP, see cross-section A
to A’ (Figure 5).
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Figure 4. Drill hole 26MN-080, interval 64.62 m to 67.12 m, displaying Ordovician Zanzibar Formation
limestones with oxidized quartz-calcite-adularia epithermal veins.
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Figure 5. Cross-section A-A’, showing gold grades with reported intervals highlighted.
Reliance Trend Results:
26MN-085: This drill hole tested Reliance Trend mineralization within the IRCP and deep Zanzibar Trend
associated mineralization along the Caldera margin. The drill hole contains three intervals hosted in Cambrian
Gold Hill Formation meta-sediments of 0.2 g/t gold over 9.14 m from 46.94 m within medium to fine grained
clastic meta-sediments, and 0.51 g/t gold over 16.58 m from 96.04 m and 7.52 g/t gold over 2.41 m from
120.36 m within marble carbonate units. The last interval of 0.41 g/t gold over 8.6 m from 266.33 m is directly
above the stratigraphic contact with Oligocene Round Rock Formation volcanic units (Caldera margin) and
represents new mineralization approximately 85 metres outside the IRCP. See cross-section B to B’ (Figure
6).