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Jun 22, 2015

Scorpio Gold Reports Results from 2015 Expansion Drilling at the Bluelite Satellite Deposit, Mineral Ridge Project, Nevada

Vancouver, June 22, 2015 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) reports additional results from the 2015 expansion drilling program on the Bluelite satellite deposit at its70% owned Mineral Ridge project, located in Nevada.

The 2015 expansion program at Bluelite includes infill, development and exploration drilling to expand and upgrade the current mineral reserve and resource base for the deposit and potentially extend the life of mine of the Mineral Ridge project.

All of the holes presented in Table 1 are step-out exploration holes that lie well outside the currently defined mineral resource for the Bluelite deposit. Four widely-spaced reconnaissance holes (MR151332-333, 335 and 340) were drilled in an untested area to the northwest of the deposit. The remaining 29 holes continue to delineate mineralization that has now been outlined over a 200 x 200 meter area extending south-southwest of the current Bluelite deposit pit outline, as well as a 200 meter wide area of semi-continuous mineralization that extends southeast of the pit outline along the NW Brodie trend toward the Brodie deposit.

Management believes that results received to date from the current expansion drilling program should positively impact the existing resource base at the Bluelite deposit and will potentially allow for defining a new resource in the wide areas of mineralization that extend south-southwest of the current pit outline and southeast along the NW Brodie trend.

Pre-production development work at the Bluelite deposit is in progress with open pit production scheduled in Q3 2015.

Highlights from this latest phase of expansion drilling at the Bluelite deposit include:
  • MR151396: 1.29 grams per tonne ("g/t") gold over 9.14 meters
  • MR151398: 2.60 g/t gold over 6.10 meters
  • MR151399: 2.39 g/t gold over 9.14 meters
  • MR151408: 7.90 g/t gold over 3.05 meters
  • MR151410: 1.45 g/t gold over 10.67 meters
  • MR151441: 1.82 g/t gold over 6.10 meters
  • MR151442: 58.25 g/t gold over 1.52 meters
A drill hole location map is available at: DH Plan

Table 1. Bluelite 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)
MR151324 0 -90 115 120 5 35.05 36.58 1.52 0.015 0.51
225 240 15 68.58 73.15 4.57 0.029 0.99
305 315 10 92.96 96.01 3.05 0.014 0.48
330 340 10 100.58 103.63 3.05 0.061 2.07
MR151325 270 -60 100 105 5 30.48 32.00 1.52 0.023 0.79
120 140 20 36.58 42.67 6.10 0.028 0.96
185 200 15 56.39 60.96 4.57 0.020 0.69
245 295 50 74.68 89.92 15.24 0.015 0.51
330 350 20 100.58 106.68 6.10 0.023 0.79
MR151326 0 -90 55 65 10 16.76 19.81 3.05 0.020 0.69
220 225 5 67.06 68.58 1.52 0.025 0.86
235 240 5 71.63 73.15 1.52 0.044 1.51
275 280 5 83.82 85.34 1.52 0.100 3.43
295 310 15 89.92 94.49 4.57 0.033 1.13
360 365 5 109.73 111.25 1.52 0.023 0.79
375 405 30 114.30 123.44 9.14 0.026 0.90
MR151332 0 -90 No Significant Results
MR151333 0 -90 No Significant Results
MR151334 270 -50 90 100 10 27.43 30.48 3.05 0.028 0.96
MR151335 0 -90 45 50 5 13.72 15.24 1.52 0.015 0.51
MR151336 0 -90 265 290 25 80.77 88.39 7.62 0.029 0.98
MR151337 0 -90 No Significant Results
MR151338 0 -90 250 270 20 76.20 82.30 6.10 0.031 1.05
290 295 5 88.39 89.92 1.52 0.072 2.47
MR151339 270 -60 20 25 5 6.10 7.62 1.52 0.060 2.06
350 355 5 106.68 108.20 1.52 0.059 2.02
      395 400 5 120.40 121.92 1.52 0.074 2.54
MR151340 0 -90 No Significant Results
MR151391 0 -90 330 335 5 100.58 102.11 1.52 0.015 0.51
MR151392 0 -90 335 340 5 102.11 103.63 1.52 0.011 0.38
MR151393 270 -75 95 100 5 28.96 30.48 1.52 0.010 0.34
MR151394 270 -75 75 80 5 22.86 24.38 1.52 0.027 0.93
275 285 10 83.82 86.87 3.05 0.019 0.63
MR151395 270 -50 170 185 15 51.82 56.39 4.57 0.042 1.43
245 250 5 74.68 76.20 1.52 0.016 0.55
MR151396 0 -90 85 90 5 25.91 27.43 1.52 0.019 0.65
185 215 30 56.39 65.53 9.14 0.038 1.29
250 255 5 76.20 77.72 1.52 0.018 0.62
355 360 5 108.20 109.73 1.52 0.167 5.73
405 415 10 123.44 126.49 3.05 0.040 1.35
470 485 15 143.26 147.83 4.57 0.017 0.57
MR151397 0 -90 240 250 10 73.15 76.20 3.05 0.013 0.45
295 300 5 89.92 91.44 1.52 0.021 0.72
MR151398 273 -65 65 75 10 19.81 22.86 3.05 0.025 0.86
210 230 20 64.01 70.10 6.10 0.076 2.60
MR151399 0 -90 90 100 10 27.43 30.48 3.05 0.022 0.75
185 190 5 56.39 57.91 1.52 0.015 0.51
225 235 10 68.58 71.63 3.05 0.025 0.84
245 250 5 74.68 76.20 1.52 0.033 1.13
265 270 5 80.77 82.30 1.52 0.016 0.55
275 280 5 83.82 85.34 1.52 0.050 1.71
305 335 30 92.96 102.11 9.14 0.070 2.39
350 385 35 106.68 117.35 10.67 0.017 0.59
MR151400 270 -65 245 250 5 74.68 76.20 1.52 0.020 0.69
430 450 20 131.06 137.16 6.10 0.016 0.55
485 490 5 147.83 149.35 1.52 0.017 0.58
MR151401 0 -90 330 335 5 100.58 102.11 1.52 0.012 0.41
MR151402 0 -90 180 190 10 54.86 57.91 3.05 0.037 1.27
205 215 10 62.48 65.53 3.05 0.056 1.92
MR151403 270 -75 285 295 10 86.87 89.92 3.05 0.035 1.18
405 420 15 123.44 128.02 4.57 0.020 0.69
455 460 5 138.68 140.21 1.52 0.017 0.58
MR151404 270 -70 175 180 5 53.34 54.86 1.52 0.015 0.51
335 350 15 102.11 106.68 4.57 0.043 1.47
380 385 5 115.82 117.35 1.52 0.027 0.93
405 415 10 123.44 126.49 3.05 0.019 0.65
475 480 5 144.78 146.30 1.52 0.020 0.69
MR151406 0 -90 105 110 5 32.00 33.53 1.52 0.017 0.58
110 120 10 33.53 36.58 3.05 0.017 0.57
145 150 5 44.20 45.72 1.52 0.015 0.51
180 185 5 54.86 56.39 1.52 0.015 0.51
245 250 5 74.68 76.20 1.52 0.017 0.58
MR151407 0 -90 150 160 10 45.72 48.77 3.05 0.052 1.77
MR151408 0 -90 100 110 10 30.48 33.53 3.05 0.231 7.90
285 290 5 86.87 88.39 1.52 0.025 0.86
MR151409 0 -90 115 120 5 35.05 36.58 1.52 0.015 0.51
250 255 5 76.20 77.72 1.52 0.015 0.51
MR151410 0 -90 125 130 5 38.10 39.62 1.52 0.028 0.96
235 270 35 71.63 82.30 10.67 0.042 1.45
285 310 25 86.87 94.49 7.62 0.046 1.59
315 320 5 96.01 97.54 1.52 0.015 0.51
340 350 10 103.63 106.68 3.05 0.018 0.62
MR151441 270 -65 295 315 20 89.92 96.01 6.10 0.053 1.82
MR151442 0 -90 80 90 10 24.38 27.43 3.05 0.049 1.66
140 150 10 42.67 45.72 3.05 0.024 0.81
185 190 5 56.39 57.91 1.52 0.041 1.41
200 205 5 60.96 62.48 1.52 0.019 0.65
230 235 5 70.10 71.63 1.52 1.699 58.25

All holes presented in Table 1 were completed by reverse circulation (RC) drilling. True width is estimated at 90-100% 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 available 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 processing 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 in Manhattan, Nevada, with a fully permitted underground mine and 400 ton per day mill facility. The Company has completed its 2015 underground drilling program at Goldwedge and is processing high-grade Mineral Ridge ore at the Goldwedge plant on an as needed basis.

Scorpio Gold's President & CEO, Peter J. Hawley, 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,
President & CEO

For further information contact:
Peter J. Hawley, CEO
Tel: (819) 825-7618
Email: phawley@scorpiogold.com

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 Bluelite deposit, any potential expansion of the current pit shell outline thereof, and any potential increase in the mineral reserve and resource estimate in respect thereof. 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, risks involved in mineral reserve and resource estimation 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.