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Feb 18, 2010

Scorpio Gold's Surface Exploration on the Mineral Ridge Gold Project Prompts Additional Staking with the Discovery of New Mineralization Reporting up to 27.85 g/t Gold

Vancouver, February 18, 2010 - Scorpio Gold Corporation (TSX-V: SGN) is pleased to announce additional surface exploration sample results on the Mineral Ridge gold project.

Peter J. Hawley, CEO, Director reports, "Follow-up exploration to extend the prospective mineralized Mary Limestone unit and structures outwards from the existing pit areas has led the Company to extend the original two kilometre radius to four kilometres. The program continues to meet with success, expanding the overall mineralized area and leading to the staking of an additional 206 claims. Follow-up definition work will be planned for the newly identified mineralized zones."

Scorpio Gold's successful exploration and modeling of the mineralized unit and related structures at Mineral Ridge has led to an aggressive staking program covering an additional 2,934 hectares (7,250 acres). The overall land package of 351 claims now encompasses 4,118 hectares (10,176 acres), representing an increase of 348% from the original Golden Phoenix holdings.

The known mineralized zones occur over an area of approximately 4,300 metres (14,000 feet) north-south and 4,600 metres (15,000 feet) east-west. Individual zones can be as much as 43 metres (140 feet) thick, usually consisting of a higher-grade 1.5 to 9.0 metre wide halo surrounded by a lower-grade mineralized envelope. Stacking of two or more high-grade zones is commonly observed.

The following table presents 66 of 130 surface grab samples that returned greater than 0.1 g/t gold.

Table 1. Surface Sampling Results

Sample Number Sample Wt. (kg) Gold (g/t) Re-check (g/t) Sample Number Sample Wt. (kg) Gold (g/t) Re-check (g/t)
DH-172 7.27 0.99   DH-230 3.64 0.44  
DH-173 7.27 7.99 9.14 DH-232 3.64 1.96  
DH-174 6.36 6.50 6.47 DH-233 5.91 0.19  
DH-176 5.45 10.32 10.23 DH-234 3.64 0.25  
DH-177 6.36 2.18   DH-238 4.55 0.16  
DH-178 4.55 5.41 5.56 DH-239 5.45 1.09  
DH-179 6.36 5.63 4.79 DH-240 4.09 0.16  
DH-180 6.82 3.67 5.25 DH-241 4.55 1.74  
DH-185 5.45 5.38 6.34 DH-242 3.64 3.48 3.33
DH-186 5.00 1.24   DH-248 3.64 1.43  
DH-187 6.36 0.19   DH-249 4.09 4.26 4.35
DH-193 6.36 0.22   DH-250 2.73 1.06  
DH-194 6.36 0.28   DH-251 5.00 1.80  
DH-195 4.55 0.90   DH-252 3.18 0.19  
DH-196 6.36 0.19   DH-256 5.00 1.62  
DH-197 5.00 0.78   DH-257 5.00 0.12  
DH-198 5.91 1.62   DH-258 5.00 0.31  
DH-200 4.09 0.12   DH-276 5.00 0.40  
DH-207 5.00 0.25   DH-277 3.64 9.82 9.54
DH-211 5.00 0.16   DH-278 4.09 0.53  
DH-215 3.64 0.62   DH-279 4.55 0.12  
DH-216 3.18 4.63 5.50 DH-286 6.82 2.61  
DH-217 4.09 4.79 5.13 DH-287 5.00 1.09  
DH-220 5.45 17.87 17.03 DH-288 5.45 1.71  
DH-221 5.45 10.85 11.13 DH-289 5.45 0.44  
DH-222 4.09 1.93   DH-290 3.64 0.12  
DH-223 4.09 4.41 4.60 DH-299 4.55 0.19  
DH-224 3.18 2.33 2.55 MI-306 5.00 0.16  
DH-225 3.64 9.70 10.91 MI-307 4.09 0.62  
DH-226 5.45 26.58 27.85 MI-308 4.09 0.44  
DH-227 3.64 10.97 11.19 DH-316 3.18 0.44  
DH-228 4.09 0.12   DH-322 4.55 0.37  
DH-229 5.45 0.34   DH-323 3.64 0.25  

Analytical results were performed by American Assay Laboratory Inc., an ISO/IEC 17025 accredited laboratory, in Sparks, Nevada, USA. All samples were submitted as bulk rock samples and standard preparation procedures were utilized to create a homogeneous sample. Samples were fire assayed with an AA finish at one assay ton (30 grams). Results of 0.29 opt (10 ppm) and greater were repeated with a gravimetric (weighed) finish. Standard Quality control procedures were followed which included random insertion of certified standards and blanks in the sample stream as well as routine duplicate sample analysis.

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

Mr. Peter Hawley, PGeo, is the Company's Chief Executive Officer and Qualified Person for the various Company projects. He 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,
Chief Executive Officer and Director

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.