Scorpio Gold – Interest to Debenture Holders in Shares

TSXV:SGN

Unit 1–15782 Marine Drive

White Rock, BC, V4B 1E6

T: (604) 536-2711

www.scorpiogold.com

News Release No. 325

Scorpio Gold – Interest to Debenture Holders in Shares

Vancouver, April 21, 2022 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN)

has elected to settle its semi -annual interest payment due on its US$7,015,000 secured subordinated

convertible debentures (the “Debentures”) in common shares of the Company. The interest payment date

is April 26, 2022, and the interest payment record date is April 19, 2022. Subject to the approval of the TSX

Venture Exchange the Company will issue a total of 5,194,976 common shares to settle its semi -annual

interest payment of C$441,573 (US$349,789) at an exchange rate of 1.2624 and an issue price of C$0.085

per share.

As announced on March 10, 2022, the US$7,015,000 Debentures mature on April 26, 2022, and will be

settled by the issue of common shares of the Company at an issue price of US$0.08 per share for a total of

87,687,500 common shares.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Chris Zerga,

President & Chief Executive Officer

Chris Zerga

Tel: (775) 753-4778

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.