Vancouver, June 28, 2011 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) is pleased to announce that on June 23, 2011, the Company made its first precious metals sale from the first production batch of gold and silver in loaded carbon produced at the Mineral Ridge gold deposit, Nevada. In total, the Company sold 623 ounces of gold and 301 ounces of silver to Waterton Global Resource Management, as per its sales agreement.
Peter J. Hawley, President & CEO reports; "This was a monumental day for Scorpio Gold, and marks the start of on-going sales of its precious metals from Mineral Ridge. The Company would like to thank the operations team for their commitment and hard work to make this happen in a very short period of time, as well as the shareholders of the Company for their continued support."
During the week of June 20th 2011, the Company hosted two mine tours of the Mineral Ridge operation by representatives of financial institutions, mining analysts, industry media and high net worth investors. This successful review of operations included visits to various mineralized sites, allowing attendees to witness both the efficiency of the current mining operation and the significant upside potential from property-wide exploration. Highlights of the tour included participation in a 250-hole, open pit blast of approximately 15,000 tons of mineralization plus the handling of physical gold from assays in the assay lab.
For additional information please see the Company's website at www.scorpiogold.com
President & CEO, Peter J. Hawley, PGeo, is the Qualified Person for the Mineral Ridge project and has reviewed the content of this release.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Peter J. Hawley,
President & CEO
For further information contact:
Peter J. Hawley Tel: (819) 825-7618
Torrey Hills Capital
Andrew Hoffman Tel: (858) 456-7300
Neither 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.
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, including statements as to future sales. 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 the Company's plans with respect to the exploration and development of its projects. 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 for the year ended December 31, 2010 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 therein.