Scorpio grants options to buy 6.46 million shares

Executive Summary

• Scorpio Gold Corp. announced its participation in the Metals Investor Forum in Vancouver (Jan 23-24) and will host an open house during the AME Round Up and Vancouver Resource Investment Conference on Jan 26, 2026.
• The company issued 6,465,000 incentive stock options to directors, officers, and consultants, with a grant price of 37 cents per share and vesting schedules ranging from four to six months.
• The release provided details on the historical mineral resource estimate for the Manhattan district, citing 1,652,325 tonnes grading 5.89 g/t Au for 303,949 ounces, while clarifying that this is not a current NI 43-101 compliant estimate.

Key Details

• Conference Participation:
  • Metals Investor Forum: Vancouver, Fairmont Pacific Rim, Jan 23-24.
  • CEO Presentation: Zayn Kalyan to give a 10-minute corporate presentation on Friday, Jan 23, at 11:30 a.m. PT, followed by Q&A.
  • Panel: Presenting as part of newsletter writer Jeff Clark's panel.
  • VP Exploration: Harrison Pokrandt available at the company booth.
  • Open House: Hosted at Vancouver office during AME Round Up and Vancouver Resource Investment Conference on Jan 26, 2026, from 1:00 to 3:00 p.m. PT. RSVP required by Jan 23, 2026.
• Stock Option Grants:
  • Total Options: 6,465,000 incentive stock options issued under the company's stock option plan.
  • Recipients: Directors, officers, and consultants.
  • Exercise Price: 37 cents per share.
  • Expiry Date: Jan 16, 2031.
  • Vesting Schedule:
    • 6,065,000 options: 25% vests every six months.
    • 400,000 options: 50% vests in four months, 50% vests in six months from grant date.
  • Regulatory Status: 2.9 million options granted to officers and directors were considered related-party transactions under Multilateral Instrument 61-101. Exempt from formal valuation and minority shareholder approval requirements as neither the fair market value nor consideration exceeded 25% of market capitalization.
• Manhattan District Historical Mineral Resource Estimate (MRE):
  • Source: Historical technical report dated May 1997 by New Concept Mining Inc.
  • Status: Not treated as a current NI 43-101 compliant estimate; a qualified person has not done sufficient work to make it current.
  • Tonnes: 1,652,325 tonnes.
  • Grade: 5.89 grams per tonne gold.
  • Contained Gold: 303,949 ounces.
  • Areas Covered: Black Mammoth, April Fool, Hooligan, Keystone, and Jumbo.
  • Context: Manhattan is located in the Walker Lane trend of Nevada, ~20km south of the Round Mountain gold mine. Historically produced ~700,000 ounces of gold from late 1890s to mid-2000s.
  • Requirements for Current MRE: Company notes that upgrading to a current MRE would require confirmatory drilling, modern QA/QC sampling, validation, digitization of historical data, and updated geological modeling.

Notable Quotes

• "Scorpio Gold will be presenting as part of newsletter writer Jeff Clark's panel of companies."
• "The consolidated Manhattan district presents an exciting late-stage exploration opportunity, with over 100,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights."