Scorpio Gold Reports Maiden Mineral Resource Estimate and Historical Mineral Resource Estimate

Core Insights - Scorpio Gold Corporation announced its Maiden mineral resource estimate (Maiden MRE) for the Manhattan District, which includes 18,343 tonnes grading 1.26 g/t gold, totaling 740,000 ounces of contained gold in the inferred category [2][3][4] - The historical mineral resource estimate (Historical MRE) for certain satellite deposits at Manhattan includes 1,652,325 tonnes grading 5.89 g/t gold, amounting to 303,949 ounces of contained gold [2][3][4] - The Maiden MRE is based on over 92,000 meters of historical drilling and does not yet include any drilling conducted by the company in 2025, indicating significant potential for resource growth [7][9][10] Maiden Mineral Resource Estimate - The Maiden MRE covers the Goldwedge and Manhattan Pit areas and is classified entirely in the inferred category, reflecting only the validation and conversion of legacy data [7][8][9] - The average grade of the Maiden MRE is 1.26 g/t Au at a 0.3 g/t cut-off, which is higher than many other open-pit deposits in Nevada, highlighting Manhattan's potential as a standout project [8][9] - The resource estimate serves as a foundation for ongoing exploration and expansion, with plans for further drilling to delineate and grow the resource base [9][10] Historical Mineral Resource Estimate - The Historical MRE was completed in 1997 and includes estimates from the Black Mammoth, April Fool, Hooligan, Keystone, and Jumbo areas, with a total of 1,652,325 tonnes grading 5.89 g/t gold [2][19][20] - The Historical MRE is not treated as current by the company, as a Qualified Person has not verified the data to classify it as a current resource [19][24][42] - Historical estimates indicate significant past production and resource potential, but further exploration and validation are required to assess economic viability [24][39][42] Exploration and Future Potential - The company aims to build a multi-million-ounce resource at a competitive grade, leveraging the historical data and ongoing drilling efforts [3][4][9] - The Manhattan District has a rich history of gold production, with approximately 700,000 ounces produced historically, and is strategically located near other significant gold mining operations [36][43] - Future exploration will focus on high-grade targets and the potential for larger tonnage envelopes surrounding historical high-grade structures [32][34][35]