Scorpio Gold Corporation provided first quarter corporate update and planned exploration program at its Manhattan Property. The focus for the remainder of 2024 will be resource growth and definition at Scorpio Gold's Manhattan Mine, located in the Manhattan mining district of south-central Nevada, as well as taking action to define next steps at the Company's fully permitted Mineral Ridge mine, currently under care and maintenance. The Company's core focus is on conducting a renewed exploration program at Manhattan during second quarter/third quarter 2024 to continue building on the success of the 2022 program and ultimately work towards a 43-101-compliant resource.

MWRC22-003 - intercepted 27.16g/t over 16.8m, including 145.74g/t over 3.1m from 59.5m along the drill hole depth. Additional intercepts contained 2.12g/t over 16.8m, including 9.3m over 1.5m from 80.8m depth along the drill hole. MWRC22-008 - intercepted 4.52g/t over 4.6m from 147.9m along the drill hole depth and 9.36g/t over 1.5m from 115.9m depth along the drill hole.

MWRC22-010 - intercepted 11.98g/t over 13.7m, including 39.43g/t over 3.1m from 134.2m along the drill hole depth. Additional intercepts contained 1.17g/t over 9.2m from 71.7m depth along the drill hole. MWRC22-011 ­ intercepted 26.62g/t over 1.5m from 48.8m along the drill hole depth.

The 2024 Program is anticipated to commence in early May 2024. The Company intends to conduct a targeted diamond-drill campaign, alongside detailed mapping, sampling, and a target generation field program. Scorpio Gold intends to disclose further details on the 2024 Program in the immediate short term.

Scorpio Gold is building on an extensive history of exploration at Manhattan, a past-producing mine acquired from Kinross in 2021. The project has over 1,200 historical drill holes comprising in excess of 100,000m of drilling, including two programs conducted by Scorpio Gold in 2021 and 2022. Over the past months, the Company has worked to build an updated internal resource estimate based upon this historic data and intends to work towards putting out a 43- 101-compliant resource on Manhattan by the end of 2024.

Scorpio Gold is currently conducting an internal review of the 2018 Mineral Ridge updated feasibility study, exploring optionality with regard to updating the study based upon current gold prices and economic conditions. With the amalgamation of Altus Gold, the consolidated opportunity with the Northstar target presents a renewed potential to significantly increase the resource at Mineral Ridge, all while leveraging the mine's established infrastructure and permitting, including water rights.