Scorpio Gold drills 25.02 m of 0.76 g/t Au at Manhattan

Executive Summary

• Scorpio Gold Corp. released assay results from three drill holes (25MN-034, 25MN-035, and 25MN-036) from its Phase 2 drilling program at the Manhattan District in Nevada.
• Significant intercepts were reported along the Reliance Trend and at the southern end of the West Pit, including a 25.02m interval grading 0.76 g/t Au and a 19.39m interval grading 0.51 g/t Au.
• The company has drilled 38 holes to date (11,906m total), with assays pending for 12 additional holes (3,322m) which will be reported as results become available.

Key Details

• Hole 25MN-034 (Reliance Trend):
  • 19.39 m at 0.51 g/t Au (within Inferred Resource Constrained Pit Model - IRCP).
  • 5.49 m at 0.20 g/t Au (within IRCP).
  • 9.8 m at 0.24 g/t Au (located ~47m below IRCP).
• Hole 25MN-035 (Southern End of West Pit):
  • 7.01 m at 0.25 g/t Au (within IRCP).
• Hole 25MN-036 (Reliance Trend):
  • 7.86 m at 0.31 g/t Au (within IRCP).
  • 25.02 m at 0.76 g/t Au (within IRCP).
  • 2.16 m at 1.20 g/t Au (within IRCP).
• Drilling Program Status:
  • Total holes drilled to date: 38 (25MN-011 through 25MN-045 and 26MN-046 through 26MN-048).
  • Total metres drilled: 11,906 m.
  • Assays reported: 26 holes (8,584 m).
  • Assays pending: 12 holes (3,322 m).
• Pit Model Parameters (IRCP):
  • Gold Price: $2,500 USD.
  • Cut-off Grade: 0.3 g/t gold-only.
  • Mill Recovery: 90%.
  • Pit Slope Angle: 50 degrees.
  • Mining Costs: $3/tonne.
  • Milling Costs: $15/tonne.
  • General Administration: $3.50/tonne.
  • Royalty: 2%.
• Pending Holes (Assays Pending):
  • 25MN-037 to 25MN-045 and 26MN-046 to 26MN-048.
  • Locations include stepouts on the Reliance Trend, the Gap zone, Mustang Hill, and Goldwedge.
• Operational Updates:
  • CEO Zayn Kalyan noted strong operational momentum with 12 completed holes awaiting results.
  • Focus for 2026 includes consistent result delivery and adding to resource inventory.
  • One rig is being positioned to test targets outside the core resource footprint, starting with a two-hole program at Black Mammoth in late January.
• Geological Context:
  • Mineralization is consistent with the existing geological model, controlled by district-scale structural features.
  • Oriented core collection started mid-2025 to increase confidence in structural features.
  • Primary focus is on dilatational structures and intersections hosting low-sulphidation epithermal gold vein assemblages.
• Historical Resource Data (Not Current):
  • Maiden MRE (Goldwedge/Manhattan Pit): 18,343,000 tonnes at 1.26 g/t Au for 740,000 oz (Inferred).
  • Historical MRE (Black Mammoth, April Fool, Hooligan, Keystone, Jumbo): 1,652,325 tonnes at 5.89 g/t Au for 303,949 oz.

Notable Quotes

• "We have started the year with strong operational momentum, with drilling progressing steadily across the Manhattan district and 12 completed holes currently in the lab awaiting results. Our focus in 2026 is on delivering results to the market in a consistent and disciplined manner while working towards adding inventory to our resource and continuing to advance our geological understanding of the district." — Zayn Kalyan, CEO and Director.