SGLD.V · 2025-10-23 12:00:00

Scorpio Gold Files Technical Report Detailing Mineral Resource Estimate

Resource Estimates Technical Reports (NI 43-101)

TSXV: SGN

#750-1095 W. Pender St.

Vancouver, BC V6E2M6

WWW.SCORPIOGOLD.COM

Scorpio Gold Files Technical Report Detailing Mineral Resource Estimate

October 23, 2025 - Vancouver, BC – Scorpio Gold Corporation (TSX-V: SGN, OTCQB: SRCRF, FSE: RY9)

(“Scorpio Gold” or the “ Company”) is pleased to announce that, further to its news release dated September

11, 2025, it has filed an independent technical report (the “ Technical Report”) containing the maiden mineral

resource estimate (the “Maiden MRE ”) at the 100% -owned Manhattan District ( “Manhattan” or the “Project”)

located in Nevada, USA, as well as a historical mineral estimate (the “ Historical MRE ”) for certain satellite

deposits at Manhattan. 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 Technical Report is titled “Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property,

Nye County, Nevada” and has an effective date of June 4, 2025. The Technical Report was prepared in

accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) 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.

A copy of the Technical Report is available on Scorpio Gold’s website, here and SEDAR+ profile at

www.sedarplus.ca. A summary of the Maiden MRE and the Historical MRE is disclosed in the Company’s news

release dated September 11, 2025, and is qualified in its entirety by the Technical Report.

Maiden MRE Highlights:

- An inferred category resource of 740,000 ounces at 1.26 g/t Au, with a 0.3 g/t Au cut-off grade.

- Comprised 1,341 drill holes, totalling 92,635 metres, within the Maiden MRE area.

- Summaries of seven metallurgy test programs spanning from 1975 to 2012.

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, which has produced more than 15 million ounces

of gold. For the first time, the Company has consolidated the Project’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

(Goldwedge Project Technical Report, 2005). The maiden mineral resource estimate covering the Goldwedge

and Manhattan Pit areas of the Project, 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. 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. 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 has not done sufficient work to make the Histor ical

MRE current, and the Company is not treating the Historical MRE as current, 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, here.

Qualified Person

In accordance with NI 43-101, Thomas Poitras, P. Geo, Chief Geologist of the Company, is the Qualified Person

for the Company and has validated and approved the technical and scientific content of this news release.

About Scorpio Gold Corporation

Scorpio Gold holds a 100% interest in the Manhattan District located in the Walker Lane Trend of Nevada, USA.

Scorpio Gold's Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge

Mine, with a 400 ton per day maximum capacity gravity mill, and four past-producing pits that were acquired from

Kinross Gold Corporation in 2021. The consolidated Manhattan District presents an exciting late-stage

exploration opportunity, with over 140,000 metres of historical drilling, significant resource potential, and valuable

permitting and water rights.

ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION

Zayn Kalyan, Chief Executive Officer and Director

Tel: (604)-252-2672

Email: [email protected]

Investor Relations Contact:

Kin Communications Inc.

Tel: (604) 684-6730

Email: [email protected]

Connect with Scorpio Gold:

To register for investor updates please visit: scorpiogold.com

TSXV: SGN | OTC: SRCRF | FSE: RY9

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward

looking statements involve known and unknown risks, uncertainties and other factors that may cause the

Company’s actual results, performance or achievements, or developments to differ materially from the

anticipated results, performance or achievements expressed or implied by such forward-looking

statements. Forward looking statements are statements that are not historical facts and are generally,

but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,”

“projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could”

or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to future

exploration and development plans , the future mineral production, liquidity , enhanced value capital

markets profile of the Company, the future growth potential for the Company and its business, and other

statements that are not historical facts. By their nature, forward-looking statements involve known and

unknown risks, uncertainties and other factors which may cause our actual results, performance or

achievements, or other future events, to be materially different from any future results, performance or

achievements expressed or implied by such forward-looking statements. Such factors and risks include,

among others: the Company may require additional financing from time to time in order to continue its

operations which may not be available when needed or on acceptable terms and conditions acceptable;

compliance with extensive government regulation; domestic and foreign laws and regulations could

adversely affect the Company’s business and results of operations; the stock markets have experienced

volatility that often has been unrelated to the performance of companies and these fluctuations may

adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the

Company as of the date of this news release and, accordingly, is subject to change after such date.

Readers should not place undue importance on forward-looki ng information and should not rely upon

this information as of any other date. The Company undertakes no obligation to update these forward-

looking statements in the event that management's beliefs, estimates or opinions, or other factors, should

change.

Neither the 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.

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