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Nov 08, 2011

Scorpio Gold Intersects Near Surface Mineralization at the Wedge B Zone, Mineral Ridge Project

Vancouver, November 8, 2011 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) announces the initial drill results from the Wedge B Zone at the 70% owned Mineral Ridge project, Nevada.

Peter J. Hawley, President and CEO reports, "Our initial drilling on the Wedge B Zone, located 225 metres west of the Drinkwater pit where the Company is currently mining, has intersected mineralization of interest. Given the shallow depth of the mineralization and its close proximity to the crushing unit and haul roads, the Company is examining the viability of adding the extraction of this zone into the 2012 mine planning. This addition has the potential to increase the overall gold production scheduled for the coming year."

Table 1. Wedge B Zone - Significant Drill Results

Hole No. From (ft) To (ft) Width (ft) From (m) To (m) Width (m) Gold (OPT) Gold (g/t)
MR11176 0 20 20 0.00 6.10 6.10 0.024 0.68
  70 80 10 21.34 24.38 3.05 0.033 0.94
MR11177 25 45 20 7.62 13.72 6.10 0.016 0.45
  60 65 5 18.29 19.81 1.52 0.037 1.05
MR11178 0 5 5 0.00 1.52 1.52 0.018 0.51
  25 30 5 7.62 9.14 1.52 0.018 0.51
  40 45 5 12.19 13.72 1.52 0.032 0.91
  55 80 25 16.76 24.38 7.62 0.030 0.85
  105 110 5 32.00 33.53 1.52 0.024 0.68
MR11179 0 5 5 0.00 1.52 1.52 0.025 0.71
  25 50 25 7.62 15.24 7.62 0.021 0.60
  95 100 5 28.96 30.48 1.52 0.071 2.01
MR11180 45 50 5 13.72 15.24 1.52 0.015 0.43
  55 60 5 16.75 18.29 1.52 0.014 0.40
MR11181 40 60 20 12.19 18.29 6.10 0.034 0.96
MR11182 45 55 10 13.72 16.76 3.05 0.101 2.86
MR11183 55 70 15 16.76 21.34 4.57 0.042 1.19
MR11184 30 35 5 9.14 10.67 1.52 0.018 0.51
MR11185 40 45 5 12.19 13.72 1.52 0.018 0.51
  100 105 5 30.48 32.00 1.52 0.018 0.51
MR11186 45 60 15 13.72 18.29 4.57 0.085 2.41
MR11187 85 95 10 25.91 28.96 3.05 0.032 0.91
MR11188 100 120 20 30.48 36.58 6.10 0.019 0.54
MR11190 5 10 5 1.52 3.05 1.52 0.027 0.77
MR11194 35 40 5 10.67 12.91 1.52 0.019 0.54
MR11196 60 65 5 18.29 19.81 1.52 0.024 0.68
  75 90 15 22.86 27.43 4.57 0.029 0.82
MR11198 125 130 5 38.10 39.62 1.52 0.052 1.47
MR11199 0 15 15 0.00 4.57 4.57 0.035 0.99

All holes presented in the above tables were completed by reverse circulation (RC) drilling. True width is estimated at ~90% downhole width. 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: View PDF. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory.

President & CEO, Peter J. Hawley, PGeo, is the Qualified Person for the Mineral Ridge project and has reviewed the content of this release. For additional information please see the Company's website at www.scorpiogold.com.

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:

Investor Relations:
Jim Macdonald, Torrey Hills Capital
Tel: (858) 456-7300
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. 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 Mineral Ridge project. 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.