Mr. Zayn Kalyan reports

SCORPIO GOLD ANNOUNCES OPTION OF BETTY EAST PROPERTY, EXTENDING CLAIM PACKAGE AT MANHATTAN DISTRICT, NEVADA

Scorpio Gold Corp. has entered into a property option agreement with an arm's-length third party and a wholly owned subsidiary of the company (the optionee) to acquire a 100-per-cent interest in the 32 unpatented lode mining claims known as the Betty East property, located in Nye county, Nevada.

Details of the property

Historically, the property has seen limited exploration. Nevada Goldfields Inc. conducted shallow reverse circulation drilling and trenching in the early 1990s, which identified near-surface gold mineralization at the Knolls area and outlined additional interpreted near-surface and deeper conceptual targets. Available historic data include drill logs and results from 15 shallow RC holes, trench mapping, detailed geological sections and a historical geological report, which together suggest potential for both shallow oxide mineralization and a larger, structurally controlled mineralized system at depth.

More recent historic work on the at the Knolls area by Sierra Grande Minerals Inc. has been limited to a sample soil geochemical survey of approximately 290 samples. Initially, 140 samples were taken in the south-central part of the claim block on a 650-metre (north-south) and 325-metre (east-west) grid of 50-metre east-west spaced lines with samples taken between 25 metres and 50 metres along the lines. The results demonstrate a pronounced, north-south epithermal gold-arsenic-(silver-mercury) signature with locally very high gold soil results, including 6.27 grams per tonne gold, 5.06 grams per tonne gold, 1.19 grams per tonne gold and 0.69 gram per tonne gold. This lies within an envelope of anomalous gold and arsenic and extends to a background of less than 20 parts per billion gold.

Following this, the same company completed a northeast-southwest elongate grid of 150 samples taken on a nominal 100-metre spacing, covering 1,300 metres by 800 metres. Sampled immediately to the northeast of the Knolls area, this grid outlined a broad, east-northeast-trending zone that is highly anomalous in arsenic, mercury, silver, antimony and molybdenum, along with locally elevated gold and consistently elevated zinc, copper and tungsten. The new east-northeast trend is greater than 1.5 kilometres long and up to one kilometre wide and displays elements of both epithermal and intrusive-related signatures. All historic soil samples were analyzed for gold by fire assay and multielement ICP at ALS's laboratory in Reno.

The property is interpreted to be geologically contiguous with the southern portion of the Manhattan district, with mineralization occurring within favourable lower-plate sedimentary units associated with regional structural controls. Scorpio Gold has also staked additional claims between the property and its existing Manhattan district land position, consolidating continuous claim coverage and enhancing the company's ability to systematically explore and test mineralized trends across the broader district.

"The Betty East option meaningfully expands our footprint at the southern end of the Manhattan district and gives us control of a highly prospective and underexplored part of the camp," said Zayn Kalyan, chief executive officer of Scorpio Gold. "Importantly, we have staked the intervening claims that connect Betty East to our existing claim block, creating continuous land tenure across a favourable geological corridor. This consolidation allows us to evaluate mineralized trends in a district-scale context, integrate historical work with modern exploration methods, and prioritize targets that may complement and extend the broader Manhattan mineral system. We see Betty East as a strategic addition that strengthens our long-term exploration optionality in one of Nevada's most productive gold belts."

Terms of the agreement

The company, through the optionee, has been granted the option to acquire 100 per cent of the property from the optionor by making staged cash and share payments totalling $900,000 (U.S.) and 950,000 common shares in the capital of the company and incurring an aggregate of $1-million (U.S.) in exploration expenditures on the property over five years, as follows:

• $30,000 (U.S.) and 100,000 shares within five days following the later of the effective date of the agreement and the date on which the company receives TSX Venture Exchange approval of the agreement;
• $30,000 (U.S.) and 100,000 shares on or before the first anniversary of the effective date;
• $$30,000 (U.S.), 150,000 shares and $150,000 (U.S.) in exploration expenditures on or before the second anniversary of the effective date;
• $50,000 (U.S.), 150,000 shares and $200,000 (U.S.) in exploration expenditures on or before the third anniversary of the effective date;
• $50,000 (U.S.), 200,000 shares and $250,000 (U.S.) in exploration expenditures on or before the fourth anniversary of the effective date;
• $710,000 (U.S.), 250,000 shares and $400,000 (U.S.) in exploration expenditures on or before the fifth anniversary of the effective date.

Upon the exercise of the option, the optionor will be granted a 2-per-cent net smelter returns royalty on the property, with the company retaining the right to buy back one-half (1 per cent) of the NSR royalty by paying the optionor an amount equal to the value of 500 ounces of 0.999 fine gold.

The agreement is subject to the approval of the TSX-V.

Qualified person

The scientific and technical information in this news release has been reviewed, verified and approved by Leo Hathaway, PGeo, chief geologist of Scorpio Gold, a qualified person, as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects. Verification included review of laboratory certificates, review of field logs and chain-of-custody records, inspection of blank/standard/duplicate performance, and review of collar and downhole survey data. No limitations or failures to verify were identified.

About the Manhattan district

Manhattan, located in the Walker Lane trend of Nevada, United States, is road accessible and lies approximately 20 kilometres 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 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. The maiden mineral resource estimate covering the Goldwedge and Manhattan Pit areas of Manhattan comprises 18,343,000 tonnes grading 1.26 grams per tonne gold for a total of 740,000 ounces contained gold in the inferred category.

A historical mineral resource estimate (MRE) covers the Black Mammoth, April Fool, Hooligan, Keystone and Jumbo areas of Manhattan and comprises 1,652,325 tonnes grading 5.89 grams per tonne gold for a total of 303,949 ounces contained gold. The deposit is interpreted as a low-sulphidation, 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, has not done sufficient work to make the historical MRE current, and the company is not treating the historical MRE as current.

We seek Safe Harbor.