Scorpio Gold Announces Development of State-of-the-Art Core Processing & Storage Facility Through Strategic Divestiture of Manhattan Mill Assets

Executive Summary

• Scorpio Gold announced the sale of idle processing assets in Nye County, Nevada for a cash consideration of C$750,000, freeing capital to fund a new centralized core processing, logging and storage facility.
• The company retained Mining Stock Education LLC to provide investor communication and marketing services at US$10,000 per month for twelve months (total US$120,000).
• Construction of the new facility is intended to support higher drill volumes, improved geological interpretation, and accelerated resource growth across the Manhattan District.

Key Details

• Asset Sale Agreement: Goldwedge LLC (wholly‑owned subsidiary) will sell a permitted mineral processing facility—including primary crusher, 400 t/d milling circuit, filter‑press tailings dewatering system, associated equipment, utilities, permits and related intangible assets—to Manhattan Metals Corp.
• Consideration: Cash payment of C$750,000 to Scorpio Gold (via Goldwedge).
• Closing Date: Scheduled for May 14 2026, subject to customary conditions including TSX Venture Exchange approval.
• Facility Plan: New centralized core receiving/processing area, dedicated logging and sampling stations, expanded secure indoor storage with QA/QC access, integrated geological data capture systems, workflow designed for increased annual drill meterage.
• Marketing Engagement: Mining Stock Education LLC contracted to deliver online profile development, website advertising, video/interview production, podcast/webinar hosting, social‑media promotion; fee of US$10,000 per month for a twelve‑month term (total US$120,000).
• Strategic Rationale: Reallocation of capital from underutilized processing assets to infrastructure that supports an aggressive district‑scale exploration program and potential resource expansion.

Notable Quotes

“We are building the foundation required to scale exploration in a disciplined but aggressive manner,” said Zayn Kalyan, CEO of Scorpio Gold.
“By investing in a centralized core processing and storage facility, we are positioning Scorpio to handle higher drill volumes, improve geological modeling, and accelerate resource growth across the Manhattan District.”