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Nov 24, 2014

Scorpio Gold Intersects 1.12 g/t Gold over 36.58 meters on the NW Brodie Trend, Mineral Ridge Project, Nevada

Vancouver, November 24, 2014 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) reports additional results from its 2014 exploration drilling program on the NW Brodie trend at its 70% owned Mineral Ridge project, located in Nevada.

The NW Brodie trend is a semi-continuous mineralized corridor that extends west and northwest of the Brodie deposit toward the Bluelite deposit. Drilling to date has partly tested the corridor over a 200 meter width and 450 meter strike length. The NW Brodie trend remains completely open to the west and for 300 meters of strike length northwest to the Bluelite deposit. Significant intercepts have been reported in multiple horizons and in some places over broad widths, further supporting drill results reported in the Company's October 22, 2014 news release. A map highlighting the drill results over a select area of the NW Brodie trend is available at: DH & Assay Plan.

The NW Brodie trend lies well outside of currently defined resources at Mineral Ridge and existing modelled pit outlines. Management believes that results to date are very positive and may potentially allow for defining a new resource in this area.

Peter J. Hawley, CEO, comments, "Drilling on the NW Brodie trend continues to return very impressive results and is defining multiple stacked mineralized lenses from surface to 100 meters depth. We have an opportunity to potentially outline a significant resource in an area that until this year was held under a privately held patented mineral claim. The claim has been unexplored for over 100 years. We are the first to drill test the area and it looks very promising."

Highlights from this latest phase of drilling on the NW Brodie trend include:
  • MR141141: 1.12 grams per tonne ("g/t") gold over 36.58 meters
  • MR141143: 0.94 g/t gold over 24.38 meters
  • MR141145: 1.65 g/t gold over 4.57 meters
  • MR141152: 1.20 g/t gold over 19.81 meters

Map Links:
Drill hole location map: DH Plan
Drill hole with select assays map: DH & Assay Plan

Table 1. NW Brodie Trend - 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)
MR141141 0 -90 270 275 5 82.30 83.82 1.52 0.040 1.37
305 425 120 92.96 129.54 36.58 0.033 1.12
incl. 395 425 30 120.40 129.54 9.14 0.059 2.01
475 490 15 144.78 149.35 4.57 0.015 0.53
MR141143 0 -90 75 90 15 22.86 27.43 4.57 0.011 0.39
110 135 25 33.53 41.15 7.62 0.024 0.82
165 190 25 50.29 57.91 7.62 0.043 1.49
250 260 10 76.20 79.25 3.05 0.015 0.50
275 280 5 83.82 85.34 1.52 0.019 0.65
295 305 10 89.92 92.96 3.05 0.011 0.38
325 340 15 99.06 103.63 4.57 0.022 0.75
375 455 80 114.30 138.68 24.38 0.028 0.94
MR141145 0 -90 200 210 10 60.96 64.01 3.05 0.014 0.46
260 290 30 79.25 88.39 9.14 0.024 0.81
310 335 25 94.49 102.11 7.62 0.027 0.93
355 360 5 108.20 109.73 1.52 0.012 0.41
380 385 5 115.82 117.35 1.52 0.015 0.51
395 410 15 120.40 124.97 4.57 0.048 1.65
465 480 15 141.73 146.30 4.57 0.024 0.81
MR141150 0 -90 315 320 5 96.01 97.54 1.52 0.057 1.95
415 440 25 126.49 134.11 7.62 0.028 0.95
MR141151 0 -90 145 155 10 44.20 47.24 3.05 0.152 5.22
365 375 10 111.25 114.30 3.05 0.040 1.36
395 425 30 120.40 129.54 9.14 0.023 0.77
620 630 10 188.98 192.02 3.05 0.017 0.59
MR141152 0 -90 0 5 5 0.00 1.52 1.52 0.041 1.42
140 205 65 42.67 62.48 19.81 0.035 1.20
215 220 5 65.53 67.06 1.52 0.012 0.42
245 275 30 74.68 83.82 9.14 0.027 0.91
295 300 5 89.92 91.44 1.52 0.031 1.08
335 340 5 102.11 103.63 1.52 0.027 0.93
370 380 10 112.78 115.82 3.05 0.128 4.39
440 450 10 134.11 137.16 3.05 0.040 1.37
MR141154 0 -90 115 140 25 35.05 42.67 7.62 0.014 0.49
165 175 10 50.29 53.34 3.05 0.016 0.53
260 270 10 79.25 82.30 3.05 0.022 0.74
290 295 5 88.39 89.92 1.52 0.013 0.45
315 320 5 96.01 97.54 1.52 0.043 1.47
330 335 5 100.58 102.11 1.52 0.025 0.86
370 430 60 112.78 131.06 18.29 0.019 0.64
MR141155 0 -90 130 135 5 39.62 41.15 1.52 0.013 0.45
175 190 15 53.34 57.91 4.57 0.013 0.46
215 220 5 65.53 67.06 1.52 0.030 1.03
240 245 5 73.15 74.68 1.52 0.014 0.48
385 390 5 117.35 118.87 1.52 0.025 0.86
405 410 5 123.44 124.97 1.52 0.033 1.13
MR141158 0 -90 115 130 15 35.05 39.62 4.57 0.026 0.89
200 205 5 60.96 62.48 1.52 0.014 0.48
MR141162 0 -90 90 95 5 27.43 28.96 1.52 0.029 0.99
120 130 10 36.58 39.62 3.05 0.031 1.06
200 210 10 60.96 64.01 3.05 0.033 1.13
310 320 10 94.49 97.54 3.05 0.019 0.65
MR141163 0 -90 60 70 10 18.29 21.34 3.05 0.052 1.78
145 160 15 44.20 48.77 4.57 0.020 0.70
185 195 10 56.39 59.44 3.05 0.016 0.56
255 260 5 77.72 79.25 1.52 0.018 0.62
275 280 5 83.82 85.34 1.52 0.044 1.50
MR141164 0 -90 0 20 20 0.00 6.10 6.10 0.022 0.75
315 320 5 96.01 97.54 1.52 0.028 0.97
MR141165 0 -90 170 175 5 51.82 53.34 1.52 0.011 0.37
MR141166 0 -90 0 5 5 0.00 1.52 1.52 0.021 0.73
280 285 5 85.34 86.87 1.52 0.027 0.91
440 445 5 134.11 135.64 1.52 0.020 0.67
      480 495 15 146.30 150.88 4.57 0.033 1.14
MR141167 0 -90 230 255 25 70.10 77.72 7.62 0.029 0.98
      450 455 5 137.16 138.68 1.52 0.057 1.96

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: MR QAQC.

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 the potential addition of new mineral resources along the NW Brodie trend. 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.