Scorpio Gold Receives Approval of its Plan of Operations Amendment for the Mineral Ridge Property, Nevada
TSX -V: SGN
206-595 Howe St.
Vancouver, BC V6C 2T5
T: 604-678-9639
www.s cor piog old .com
News Release No. 259
Scorpio Gold Receives Approval of its Plan of Operations Amendment
for the Mineral Ridge Property, Nevada
Vancouver, July 3, 2018 - Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN)
is pleased to announce the receipt of a signed Decision Record and a Finding of No Significant Impact for
the Environmental Assessment ("EA") completed for i ts Mineral Ridge Operations in Nevada. The EA
was required to comply with the National Environmen tal Policy Act, given that a portion of the Mineral
Ridge property is located on public land administer ed by the Bureau of Land Management, Battle
Mountain District, Tonopah Field Office ("BLM").
The approval of the EA is a significant milestone in the Company’s ongoing permitting efforts and when
coupled with the Water Pollution Control Permit, currently under review with the Nevada Department of
Environmental Protection, will allow Scorpio Gold t o advance its exploration, processing and mining
activities on the Mineral Ridge property.
The Company continues to focus on raising sufficien t capital to improve its financial position and to re-
finance its $6 million debt obligation due in mid-A ugust, allowing for the construction of a new
processing facility at Mineral Ridge for processing heap leach materials and additional open-pit miner al
reserves. The Company also continues to seek and ev aluate new projects, mergers and acquisitions, and
possible sale of non-core assets that will enhance value for its shareholders.
Scorpio Gold’s President, Chris Zerga, comments, “I wish to extend my appreciation to the BLM staff in
the Tonopah Field Office as well as Scorpio Gold’s personnel and consultants who contributed to the
success of the permitting effort for the proposed Custer Plan Amendment and the EA.”
About Scorpio Gold
Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in
Esmeralda County, Nevada with joint venture partner Elevon, LLC (30%). Mineral Ridge is a
conventional open pit mining and heap leach operati on. Mining at Mineral Ridge was suspended in
November 2017; however, the Company continues to ge nerate limited revenues from residual but
diminishing recoveries from the leach pads and estimates that production can continue until around Q4 of
2018. Scorpio Gold also holds a 100% interest in th e advanced exploration-stage Goldwedge property in
Manhattan, Nevada with a fully permitted undergroun d mine and 400 ton per day mill facility. The
Goldwedge mill facility has been placed on a care a nd maintenance basis and can be restarted
immediately when needed.
Scorpio Gold’s Chairman, Peter J. Hawley, PGeo,, is a Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the content of this release.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Brian Lock,
Interim CEO
Scorpio Gold Corporation 2
For further information contact:
Chris Zerga, President
Tel: 604-678-9639
Email: [email protected]
Website: www.scorpiogold.com
Neither 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.
The Company relies on litigation protection for "fo rward-looking" statements. This news release contai ns forward-looking
statements that are based on the Company’s current expectations and estimates. Forward-looking stateme nts are frequently
characterized by words such as “plan”, “expect”, “p roject”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate”
and other similar words or statements that certain events or conditions “may” or “will” occur, and inc lude, without limitation,
statements regarding the Company’s plans to seek and obtain sufficient financing to improve its financial position, to re-finance
its long-term debt and to construct a new processing facility at Mineral Ridge, plans to re-commence mining operations and to
plans with respect to the development and exploitat ion of its Mineral Ridge mine, including any foreca sts regarding future
production or costs related thereto. Such forward-looking statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results t o differ materially from estimated or anticipated e vents or results implied or
expressed in such forward-looking statements, including risks relating to operation of a gold mine, in cluding the availability of
cash flows or financing to meet the Company’s ongoing financial obligations; the inability of the Company to re-finance its long-
term debt obligations; unanticipated changes in the mineral content of materials being mined; unanticipated changes in recovery
rates; changes in project parameters; failure of equipment or processes to operate as anticipated; the failure of contracted parties
to perform; availability of skilled labour and the impact of labour disputes; obtaining the required permits to expand and extend
mining activities; delays in obtaining governmental approvals; changes in metals prices; unanticipated changes in key
management personnel; changes in general economic conditions; other risks of the mining industry and those risk factors outlined
in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of
the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty thereof.