Northwire Canada EditionTuesday, July 28, 2026
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M&A / Property

Scorpio Gold Announces Option of Betty East Property, Extending Claim Package at Manhattan District, Nevada

Scorpio Solidifies Nevada Footprint with Strategic Betty East Option as Heavyweight Backing Fuels 50,000m Campaign

By The Northwire Desk — AI Analysis Jan 15, 2026 · 06:01 SGN · 0.34 Scorpio Gold Corporation
Executive Summary

The most recent news (January 15, 2026) announces that Scorpio Gold has entered into an option agreement to acquire a 100% interest in the Betty East Property in the Manhattan District, Nevada. This acquisition adds 32 unpatented lode mining claims to the company's existing package. The terms include staged cash and share payments totaling USD $900,000 and 950,000 common shares over five years, plus a USD $1,000,000 exploration expenditure commitment. The vendor retains a 2% NSR royalty, half of which can be bought back for the value of 500 ounces of gold. Critically, Scorpio has also staked intervening claims to create a continuous land block across the southern end of the Manhattan District.

Material Impact

This acquisition is a strategic consolidation move that carries a Material - Positive impact for the following reasons: - District Consolidation: By securing Betty East and staking intervening ground, Scorpio now controls a continuous geological corridor. This eliminates "boundary" issues for future resource modeling and mine planning. - Low Entry Cost: The staged nature of the payments (spread over 5 years) preserves the company’s current cash for its massive 50,000-meter drilling program. - Strategic Alignment: The move follows the September 2025 maiden Mineral Resource Estimate (MRE) of 740,000 Inferred ounces. It signals management's intent to expand the project toward their stated goal of a multi-million-ounce system. - Risk Mitigation: The "Materiality" is reinforced by the fact that the company is using non-dilutive capital from the Mineral Ridge asset sale (proceeds of USD $7.5M) to fund these strategic expansions rather than constant equity raises.

SGN · Price
Company Overview

Scorpio Gold is a Nevada-focused explorer. Its flagship is the Manhattan District Project, which includes the Goldwedge and Manhattan Pit areas. - Jurisdiction: Nevada, USA (Tier 1 mining jurisdiction). - Infrastructure: Includes a permitted 400-ton-per-day gravity mill. - Resource: Maiden Inferred Resource of 740,000 oz Gold at 1.26 g/t (September 2025). - Historical Potential: The district produced ~700,000 oz historically. Deeper high-grade feeder zones remain underexplored.

Read the original news release →

More from Scorpio Gold Corporation

Jul 27, 2026 · 05:01

Scorpio Gold lists on Nasdaq to broaden U.S. capital access for its Nevada gold exploration projects.

Regulatory Jul 23, 2026 · 09:30

Scorpio’s discounted $10.8m equity raise extends Manhattan drilling runway amid dilution.

Financings Jul 15, 2026 · 16:18

Scorpio Gold raises $8m at a 7% discount to fund drilling at Manhattan, where strong intercepts have been reported.

Financings Jul 14, 2026 · 05:01

Scorpio’s 98m at 2.05 g/t gold step-out at Goldwedge extends bulk-tonnage mineralization.

Drill Results Jun 24, 2026 · 05:01

Scorpio Gold’s Manhattan District drilling validates district-scale potential as the stock consolidates near multi-month lows.

Drill Results Jun 08, 2026 · 05:01

Scorpio Gold advances Manhattan District Phase 2 drilling with consistent Goldwedge intercepts, maintaining exploration momentum amid a steady cash position.

Drill Results