Scorpio Gold Intersects 10.67 Meters Grading 3.65 g/t Gold At Mary Zone 

LAS VEGAS, NV - Scorpio Gold reported the intersection of 10.67 meters grading 3.65 g/t gold on the Mary Zone at the Mineral Ridge Gold Project in Nevada.

Golden Phoenix currently maintains a thirty percent (30%) interest in the Mineral Ridge Gold Project via its membership interest in Mineral Ridge Gold LLC, the joint venture entity that owns and operates the Mineral Ridge property with Scorpio Gold.

Peter J. Hawley, President and CEO of Scorpio Gold, said, ╥Scorpio commenced pre-stripping of the Mary Zone in November, in preparation for commencing open pit mining. The Mary Zone is located immediately southwest of the Drinkwater Pit where mining is currently in progress. A 58-hole drill program to define the extent of mineralization for final pit design is underway. Results to date have increased the width of the Mary Zone and also confirm that gold mineralization extends southwest from the Mary Zone to the adjacent Mary LC Zone, encompassing a strike length of 780 meters. Mining of the Mary Zone is expected to commence later this month, adding to current production from the Drinkwater Pit and increasing the overall production at Mineral Ridge."