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May 24, 2016

Scorpio Gold Reports Results from 2016 Exploration Drilling at the Paris Target Area, Mineral Ridge Project, Nevada

Vancouver, May 24, 2016 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) reports results from the 2016 exploration drilling program on the Paris target at its 70% owned Mineral Ridge project, located in Nevada.

The Paris target is a previously undrilled area located NNW of the Solberry deposit. It was targeted as one of several possible northwest strike extensions of the Drinkwater mineralization based on rock chip sampling and limited historic underground workings. Significant faulting to the northwest of Drinkwater has offset and obscured the Drinkwater trend. First-pass drilling in 2016 intersected mineralization in 19 of 24 RC holes collared over a 150 x 450 meter area. Based on a review of the geology and assay results, Paris is not considered a continuation of the Drinkwater trend. No further drilling is currently planned in the Paris target area.

A drill hole location map is available at: DH Plan

Table 1. Paris Target Area - 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)
MR161953-954 0 -90 No Significant Results
MR161955 0 -90 120 125 5 36.58 38.10 1.52 0.017 0.58
MR161959 0 -90 No Significant Results
MR161960 0 -90 130 140 10 39.62 42.67 3.05 0.013 0.43
MR161961 0 -90 210 215 5 64.01 65.53 1.52 0.071 2.43
MR161962 0 -90 270 275 5 82.30 83.82 1.52 0.047 1.61
MR161963 0 -90 250 265 15 76.20 80.77 4.57 0.060 2.05
MR161964 0 -90 150 155 5 45.72 47.24 1.52 0.019 0.65
230 235 5 70.10 71.63 1.52 0.018 0.62
MR161965 0 -90 60 65 5 18.29 19.81 1.52 0.015 0.51
MR161966 0 -90 20 30 10 6.10 9.14 3.05 0.052 1.78
180 185 5 54.86 56.39 1.52 0.016 0.55
MR161967 0 -90 135 145 10 41.15 44.20 3.05 0.011 0.38
MR161968 0 -90 105 110 5 32.00 33.53 1.52 0.017 0.58
MR161970 090 -45 110 115 5 33.53 35.05 1.52 0.010 0.34
MR161971 091 -47 105 110 5 32.00 33.53 1.52 0.017 0.58
185 190 5 56.39 57.91 1.52 0.016 0.55
MR161972 092 -46 No Significant Results
MR161973,975 0 -90 No Significant Results
MR161974 0 -90 85 90 5 25.91 27.43 1.52 0.031 1.06
MR161976 0 -90 455 460 5 138.68 140.21 1.52 0.189 6.48
MR161978 0 -90 190 195 5 57.91 59.44 1.52 0.023 0.79
450 455 5 137.16 138.68 1.52 0.052 1.78
MR161979 0 -90 380 385 5 115.82 117.35 1.52 0.061 2.09
MR161980 0 -90 295 310 15 89.92 94.49 4.57 0.032 1.11
325 330 5 99.06 100.58 1.52 0.024 0.82
MR161981 0 -90 400 415 15 121.92 126.49 4.57 0.039 1.35

All holes presented in Table 1 were completed by reverse circulation (RC) drilling. True width is estimated at 80-100% of downhole width. Scorpio Gold utilizes the analytical services of ALS Minerals (Reno, Nevada), an ISO/IEC 17025:2005 (CAN-P-4E, CAN-P-1579) accredited testing laboratory, and Bureau Veritas (Reno, Nevada), an ISO 9001 certified testing laboratory. External check assays to verify lab accuracy are routinely completed. 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 Elevon, LLC (30%). 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 in Manhattan, Nevada, with a fully permitted underground mine and 400 ton per day mill facility. The Goldwedge mill facility has been placed on a care and maintenance basis and can be restarted immediately when needed.

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.