Scorpio Gold Signs LOI To Acquire The Kinross Manhattan Project Properties

VANCOUVER, BC - Scorpio Gold Corporation reported the signing of a letter of intent (LOI) with Round Mountain Gold Corporation (RMGC) and KG Mining (Round Mountain) Inc. (KGM), collectively the Sellers, to acquire 100% interest in the Manhattan Project Properties in Nye County, Nevada. The Property is comprised of 22 patented claims and 219 unpatented claims situated adjacent and proximal to the Company's Goldwedge property. Negotiations are ongoing regarding three of the unpatented claims in the land package being offered in which Kinross has a production water well with existing infrastructure located on site. The three claims may ultimately be removed from the land package acquired by Scorpio Gold.

Scorpio Gold's President, Chris Zerga, said, "This acquisition will give Scorpio Gold complete land control around the Goldwedge facility, providing the opportunity to expand surface operations and the potential for expanding underground mining and exploration. It also consolidates a large land position along the Reliance Fault Zone, which has significant exploration potential for high-grade gold targets at the intersections of the Reliance structure and ring faulting related to the Manhattan Caldera. We look forward to completing the transaction and acquiring the extensive exploration data package on the Property."