Scorpio Gold Announces Completion of $5.4 Million First Tranche of Financing and Upsize of Total Financing to Over $7 Million

Scorpio Gold Corporation (TSX-V: SGN, OTCQB: SRCRF, FSE: RY9) (“Scorpio” or the “Company”) is pleased to announce that it has closed a first tranche (the “First Tranche”) of its previously announced financing (the “Financing”) through the issuance of 67,082,355 common shares (the “Shares”) at a price of $0.08 per Share, for gross proceeds of $5,366,588, and that it intends to increase (the “Upsize”) the total size of the Financing from $6 million to up to $7.05 million.