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Jul 08, 2010

Scorpio Gold's Rehab of the Mineral Ridge Pregnant/Barren Pond Facility Reveals High-Grade Gold Values

Vancouver, July 8, 2010 - Scorpio Gold Corporation (TSX-V: SGN) is pleased to announce initial sample results of material contained within the pregnant/barren solution ponds at the Mineral Ridge gold deposit leach facility, Nevada.

Peter J. Hawley, CEO, Director, reports, "While de-watering the pregnant and barren ponds for inspection and testing of the pond liners, company representatives were quite surprised to see that the barren pond design did not include a carbon fines pond. Typical pond design would include a settling pond for carbon fines created from attrition of the loaded carbons in the carbon adsorption circuit. Sampling of the barren pond sludge has returned significant results (Table 1)."

Since the initial collection of these samples, water levels have been lowered and the gold-bearing sludge in the barren pond is estimated to range from 9 to 12 inches deep. The pregnant pond material averages 3 feet in depth and looks to be material from the heap leach pad that was allowed to wash into the pregnant pond. This material will be pumped into a "geotube" fabric tube and utilized as a berm in the barren pond to create a settling pond for future carbon fines segregation. Numerous samples have been taken from both ponds with the results listed in Table 1.

The company is in the process of contacting companies experienced with this type of carbonaceous material for the potential processing and recovery of the precious metals. At this time it is unknown if it will be economic to process the sludge material.

Table 1. Pregnant Pond/Barren Pond Assay Results

Sample Description Gold
FAAA
(OPT)
Gold
FA GRAV
(OPT)
North End Pregnant Pond 0.058
North End Pregnant Pond Re-Check 0.060
Center Pregnant Pond 0.037
Center Pregnant Pond Re-Check 0.037
South End Pregnant Pond 0.021
South End Pregnant Pond Re-Check 0.021
North End Barren Pond 0.456 0.496
North End Barren Pond Re-Check 0.488
Center Barren Pond 1.845 1.830
Center Barren Pond Re-Check 1.834
South End Barren Pond 0.572 0.539
South End Barren Pond Re-Check 0.529
Pregnant Composite1 0.031
Pregnant Composite Re-Check 0.03
Blank Sample 0.001
Barren Composite2 0.778 0.785
Barren Composite Re-Check 0.778
Standard 0.120
Barren Pond Composite3 1.178 1.186
  1. Composite of north end, center and south end samples from pregnant pond.
  2. Composite of north end, center and south end samples from barren pond.
  3. Re-sampled composite from barren pond.

Analytical results were performed by American Assay Laboratory Inc. (AAL) in Sparks, Nevada, USA. AAL does not have ISO/IEC 17025 accreditation but implements a quality management system following ISO/IEC 17025 standards and maintains a paperwork trail for ISO/IEC 17025 accreditation. AAL participates in a number of testing and certification programs, details of which are presented in the Company's quality assurance and quality control (QA/QC) program for the Mineral Ridge project here.

For additional information please see the Company's website at: www.scorpiogold.com.

CEO, Mr. Peter J. Hawley, PGeo, is the Company's Qualified Person for the various Company projects. Mr. Hawley is responsible for the current exploration and development programs 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
Email:

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.