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Scorpio Appoints Leo Hathaway as Technical Advisor, Further Strengthens Team

Scorpio Gold

TSXV:SGN

October 31, 2024 – Vancouver, British Columbia – Scorpio Gold Corporation (TSX-V: SGN, OTCQB: SRCRF, FSE: RY9) (“Scorpio Gold”, or the “Company”) is pleased to announce the appointment of Leo Hathaway to its advisory panel.

Leo Hathaway, P. Geo., is a Professional Geologist with 30 years of experience in the mineral exploration industry and is currently Executive Chairman of Golden Shield Resources Inc. and Senior Vice President of Lumina Gold Corp. Mr. Hathaway played a pivotal role in the acquisition, advancement and sale of the ten original Lumina Copper projects in the Americas to seven different companies, aggregating $1.65bn. He has also had key involvement in numerous successful public and private ventures, such as Ventana Gold’s La Bodega project in Colombia and its $1.5bn sale to AUX, as well as the origination, acquisition and advancement of Lumina Gold’s 20.5moz Cangrejos gold project in Ecuador. Mr. Hathaway holds a BSc (Hons) in Applied Geology from the University of Plymouth, an MSc in Mineral Exploration from Imperial College, London. He is a registered Professional Geoscientist with EGBC.

Leo brings extensive industry expertise and a leading reputation that will be a great addition to Scorpio Gold’s top-tier technical and management team as the Company continues to build and enhance shareholder value at the flagship Manhattan and Mineral Ridge projects. Both of which are located along the highly prospective Walker Lane Trend in Nevada, USA.

“We are pleased to welcome Leo to our technical team as we work towards some exciting near-term catalysts, namely filing a NI-43-101 compliant resource at Manhattan in Q1 2025, and ultimately working to further exploration and consolidation of the Manhattan District,” said Zayn Kalyan, Scorpio Gold’s CEO and Director. “Leo’s experience will enhance our team’s abilities to pursue our strategic goals and drive greater shareholder value. We’re excited to have someone of Leo’s caliber who recognizes the exceptional opportunity and potential of the Manhattan District.”
About Scorpio Gold Corp.
Scorpio Gold holds a 100% interest in two past producing mines, the Manhattan Mine and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, USA. Scorpio Gold’s Manhattan District comprises the advanced exploration-stage Goldwedge Project, with a 400 ton per day gravity mill. Adjacent to Goldwedge is the ~4,780-hectare Manhattan Project, centered on two past-producing pits, acquired from Kinross in 2021. The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 100,000+ meters of historical drilling, with significant resource potential, alongside valuable permitting. Scorpio Gold also holds a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada. Scorpio Gold produced over 222,440 oz of gold at Mineral Ridge between 2010 and 2020. With a proven and probable resource, valuable permits, water rights, infrastructure, and the recently acquired adjacent North Star exploration target, Mineral Ridge has significant near-term development potential.

ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION

Zayn Kalyan, Chief Executive Officer and Director
Tel: (604) 252-2672
Email: zayn@scorpiogold.com

Investor Relations Contact:
Kin Communications Inc.
Tel: (604) 684-6730
Email: SGN@kincommunications.com

Forward-Looking Statements

The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding: TSXV approval of the Financing; and the Company’s expected use of proceeds from the Financing. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR+. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.