Vancouver, October 26, 2020 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) elected to settle its semi-annual interest payment on its US$7,175,000 secured subordinated convertible debentures by the issue of common shares at $0.18 per share as announced on October 19, 2020.  Having now received the approval of the TSX Venture Exchange the Company has issued a total of 2,616,666 common shares to settle its semi-annual interest payment of $471,000 (US$357,767).

ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Brian Lock,
Chief Executive Officer

For further information contact:

Brian Lock, CEO
Tel: (604) 889-2543
Email: moc.dlogoiprocs@kcolb

Anthony Simone
Tel: (416) 881-5154
Email: moc.dlogoiprocs@ri

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.