Scorpio Gold Completes Sale of Mineral Ridge Project

Core Viewpoint - Scorpio Gold Corporation has successfully completed the sale of its subsidiary Mineral Ridge Gold, LLC, which strengthens its financial position and allows for a focused strategy on its flagship Manhattan District project [1][3]. Financial Details - The total cash purchase price for the sale was US$7,500,000, with US$5,000,000 already advanced to the company, US$1,500,000 held in escrow for indemnification, and an additional US$1,000,000 to be paid in August 2026 [2]. Strategic Implications - The divestment of the non-core asset is expected to eliminate ongoing holding costs and provide non-dilutive capital to advance the Manhattan District project, which is considered one of Nevada's most promising gold districts [3]. Company Overview - Scorpio Gold holds a 100% interest in the Manhattan District project, which spans approximately 4,780 hectares and includes the Goldwedge Mine and four past-producing pits acquired from Kinross in 2021 [4].