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Sep 16, 2014

Scorpio Gold Reports Additional Results from 2014 Expansion Drilling at the Brodie Satellite Deposit, Mineral Ridge Project, Nevada

Vancouver, September 16, 2014 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) reports additional results from its 2014 satellite deposit drilling program at the 70% owned Mineral Ridge project, located in Nevada. The Brodie deposit lies southwest of the currently producing Drinkwater and Mary pits and is immediately adjacent to the leach pad.

On July 21, 2014, the Company reported an updated Life of Mine Plan ("LOM") for the Mineral Ridge Operation, which includes the currently producing Drinkwater and Mary/LC pits and five adjacent satellite deposits, including the Brodie deposit. The cut-off date for the LOM was March 31, 2014. Continued drilling since the March 31, 2014 cut-off date is designed to potentially upgrade and increase the reported mineral reserve and resource estimate and potentially extend life of mine.

Holes MR14850, 14899 and MR141051-059 were drilled within and peripheral to the modelled pit outlines for the Brodie deposit. Results from this phase of expansion drilling continue to be very positive and are expected to upgrade and expand the mineral resources currently defined for the Brodie deposit.

Holes MR 14941 and 14957-59 were drilled within the Missouri claim area, which lies mid-way between the Brodie and Bluelite deposits along a semi-continuous northwest-trending mineralized corridor. This area lies well outside of currently defined resources and modelled pit outlines. Results from drilling continue to be very promising and may potentially allow for building a new resource in this area.

Highlights from this latest phase of RC drilling on the Brodie deposit and Missouri area include:
  • MR14957: 1.28 grams per tonne ("g/t") gold over 4.57 meters
  • MR14958: 1.66 g/t gold over 3.05 meters
  • MR14959: 2.59 g/t gold over 3.05 meters
  • MR141053: 1.67 g/t gold over 7.62 meters
  • MR141055: 1.96 g/t gold over 3.05 meters

A drill hole location map is available at: View Drill Plan

Table 1. Brodie Deposit - Significant Drill Results
Hole No. Azm (deg) Dip (deg) From (ft) To (ft) Width (ft) From (m) To (m) Width (m) Gold (OPT) Gold (g/t)
MR14850 0 -90 0 10 10 0.00 3.05 3.05 0.016 0.55
190 200 10 57.91 60.96 3.05 0.012 0.39
MR14899 0 -90 105 110 5 32.00 33.53 1.52 0.031 1.06
180 185 5 54.86 56.39 1.52 0.021 0.72
MR14941 0 -90 160 165 5 48.77 50.29 1.52 0.010 0.34
250 275 25 76.20 83.82 7.62 0.025 0.84
285 290 5 86.87 88.39 1.52 0.013 0.45
310 315 5 94.49 96.01 1.52 0.057 1.95
425 430 5 129.54 131.06 1.52 0.044 1.51
MR14957 0 -90 155 160 5 47.24 48.77 1.52 0.014 0.48
205 210 5 62.48 64.01 1.52 0.016 0.55
225 230 5 68.58 70.10 1.52 0.044 1.51
270 275 5 82.30 83.82 1.52 0.040 1.37
290 305 15 88.39 92.96 4.57 0.037 1.28
350 360 10 106.68 109.73 3.05 0.015 0.51
375 380 5 114.30 115.82 1.52 0.041 1.41
425 435 10 129.54 132.59 3.05 0.060 2.06
MR14958 0 -90 80 85 5 24.38 25.91 1.52 0.019 0.65
95 100 5 28.96 30.48 1.52 0.010 0.34
195 200 5 59.44 60.96 1.52 0.012 0.41
295 300 5 89.92 91.44 1.52 0.013 0.45
310 315 5 94.49 96.01 1.52 0.015 0.51
370 380 10 112.78 115.82 3.05 0.049 1.66
400 440 40 121.92 134.11 12.19 0.019 0.66
MR14959 0 -90 45 50 5 13.72 15.24 1.52 0.011 0.36
85 90 5 25.91 27.43 1.52 0.015 0.51
230 235 5 70.10 71.63 1.52 0.044 1.49
270 280 10 82.30 85.34 3.05 0.035 1.19
425 440 15 129.54 134.11 4.57 0.017 0.58
450 465 15 137.16 141.73 4.57 0.030 1.03
480 485 5 146.30 147.83 1.52 0.016 0.54
540 550 10 164.59 167.64 3.05 0.075 2.59
MR141051 0 -90 5 10 5 1.52 3.05 1.52 0.010 0.34
65 70 5 19.81 21.34 1.52 0.015 0.51
115 125 10 35.05 38.10 3.05 0.012 0.40
165 170 5 50.29 51.82 1.52 0.010 0.34
MR141052 0 -90 75 80 5 22.86 24.38 1.52 0.012 0.39
MR141053 0 -90 0 30 30 0.00 9.14 9.14 0.017 0.59
110 115 5 33.53 35.05 1.52 0.032 1.08
145 150 5 44.20 45.72 1.52 0.049 1.68
160 185 25 48.77 56.39 7.62 0.049 1.67
MR141054 0 -90 125 130 5 38.10 39.62 1.52 0.066 2.25
200 205 5 60.96 62.48 1.52 0.026 0.87
MR141055 0 -90 75 80 5 22.86 24.38 1.52 0.012 0.43
90 100 10 27.43 30.48 3.05 0.057 1.96
135 145 10 41.15 44.20 3.05 0.033 1.14
175 180 5 53.34 54.86 1.52 0.016 0.53
MR141056 0 -90 95 100 5 28.96 30.48 1.52 0.014 0.47
135 165 30 41.15 50.29 9.14 0.025 0.86
190 195 5 57.91 59.44 1.52 0.017 0.58
210 220 10 64.01 67.06 3.05 0.041 1.40
MR141057 0 -90 35 50 15 10.67 15.24 4.57 0.029 1.00
145 160 15 44.20 48.77 4.57 0.030 1.04
185 190 5 56.39 57.91 1.52 0.013 0.45
215 220 5 65.53 67.06 1.52 0.020 0.68
MR141058 0 -90 60 65 5 18.29 19.81 1.52 0.011 0.38
105 110 5 32.00 33.53 1.52 0.010 0.34
MR141059 0 -90 0 10 10 0.00 3.05 3.05 0.014 0.48

All holes presented in Table 1 were completed by reverse circulation ("RC") drilling. True width is estimated at 80-100% of downhole width. Analytical results were performed by American Assay Laboratory Inc. in Sparks, Nevada, an ISO/IEC 17025:2005 accredited facility. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited facility. Further details are presented in the Company's quality assurance and quality control program for the Mineral Ridge project at: View PDF.

About Scorpio Gold

Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Waterton Global Value L.P. (30%), and Scorpio Gold is currently entitled to receive 80% of cash flow generated. Mineral Ridge is a conventional open pit mining and heap leach operation. The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property and processing facility in Manhattan, Nevada. The Company is assessing its exploration plans for the Goldwedge property as well as the potential for toll milling at the Goldwedge plant, which is currently permitted for 400 tons per day.

Scorpio Gold's President, Steve Roebuck, PGeo, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this release.

ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION


Peter J. Hawley,
CEO

For further information contact:
Steve Roebuck, President
Tel: (819) 825-7618
Email:

Investor Relations:
Jim Macdonald, Torrey Hills Capital
Tel: (858) 456-7300
Email:

Website: www.scorpiogold.com

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, development and exploitation of its Mineral Ridge project, including potential further exploration or development of the Brodie deposit, any potential expansion of the current pit shell outline thereof, any potential increase in the mineral reserve and resource estimate in respect thereof, or the potential addition of new mineral resources within the Missouri claim area. 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 risks involved in mineral exploration and development programs and those risk factors outlined in the Company's Management Discussion and Analysis 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 thereof.