Scorpio Gold Announces Receipt of First Deferred Payment from Mineral Ridge Sale

Core Viewpoint - Scorpio Gold Corp. has received the first deferred payment from the sale of its subsidiary, Mineral Ridge Gold, LLC, which strengthens its financial position as it advances its exploration activities in the Manhattan District [1][3][4]. Financial Summary - The total consideration for the sale of Mineral Ridge Gold was US$7,500,000, with US$1,500,000 held in escrow as an indemnification holdback [2]. - The first scheduled release of US$750,000 has been completed, with the remaining US$750,000 expected to be released on the nine-month anniversary of closing [3]. Corporate Developments - Diana Mark has retired as Corporate Secretary, and Stephanie Sharma has been appointed to the position, bringing extensive experience in corporate governance and public company administration [5][6]. Exploration and Resource Potential - The Manhattan District, where Scorpio Gold holds a 100% interest, has significant historical production and resource potential, with a maiden mineral resource estimate indicating 740,000 ounces of contained gold in the inferred category [7][9]. - The district has produced approximately 700,000 ounces of gold historically, and the company aims to advance its exploration program with a 50,000-metre drill initiative [4][14].