Scorpio Gold Confirms Rich Resource Expansion Opportunities Across 19 Mineralization Zones in Manhattan District

A District-Scale Gold Play Takes Shape in Nevada

Scorpio Gold Corporation (TSXV: SGN) has now detailed the full scope of its exploration portfolio across the Manhattan District in Nevada, confirming that 19 distinct mineralization zones offer meaningful potential for multi-million-ounce gold resources. The company’s recent consolidation of historical data spanning over 92,635 metres of drilling, combined with systematic geological re-interpretation, has identified targets across four distinct exploration maturity stages.

The Manhattan District property encompasses approximately 4,780 hectares in Nevada’s Walker Lane Trend and represents one of the few consolidated packages of former producing gold mines now held by a single operator. The district has historically yielded approximately 700,000 ounces from high-grade placer and lode mining operations dating from the late 1890s through the mid-2000s.

Current Resource Base and Near-Term Potential

Scorpio’s recently completed mineral resource estimate covers the Goldwedge and Manhattan pit areas, totaling 18.3 million tonnes grading 1.26 g/t gold for 740,000 ounces in the inferred category. Beyond this, four historic high-grade zones—Keystone Jumbo, Hooligan, Black Mammoth, and April Fool—carry historical resource estimates totaling approximately 304,000 ounces at an average grade of 5.89 g/t. These four zones remain substantially underexplored despite their bonanza-grade historical production records.

Critically, the company’s resource estimate was calculated using a 200-metre vertical depth constraint. Given that many historic drill holes ended in active mineralization and that deeper portions of underground mines remain undrilled, the geological setting strongly suggests meaningful expansion potential both laterally and at depth.

Systematic Exploration Framework: Four Development Stages

The 19 identified targets have been categorized into four exploration stages, creating a structured pathway from reconnaissance through resource definition:

Target Definition Stage comprises targets with existing data requiring compilation and program design. These represent the earliest-stage opportunities where data organization will inform drilling readiness.

Defined Target Stage includes zones well-delineated in two to three dimensions, now requiring additional data collection before drilling can commence. This stage emphasizes bridging geological knowledge gaps through geochemical and structural mapping.

Drill-Ready Target Stage encompasses prospects requiring minimal preparatory work, positioned for imminent drilling campaigns. These targets have sufficient geological confidence to justify immediate testing.

Resource Expansion Drilling Stage includes existing mineralized zones where additional drilling can either expand current resource estimates or contribute directly to resource upgrade. These represent the most advanced targets with demonstrated gold-bearing systems.

Geological Coherence and Interconnection Potential

The mineralization encountered across the district exhibits consistent low-sulphidation epithermal characteristics, predominantly hosted within structurally-controlled fault zones and favorable metasedimentary sequences. Gold concentrations typically increase significantly within breccia bodies and at structural intersections, with particularly high grades recorded in jasperoid zones and within marble/limestone horizons.

Multiple targets display spatial and structural alignment, suggesting they may represent extensions of a singular large-scale hydrothermal system. The company’s geological team has emphasized that confirming connectivity between currently separate target zones could meaningfully increase the overall gold endowment across Manhattan. This district-scale linkage hypothesis, combined with the shallow drilling depth constraint, positions many targets as legitimate expansion opportunities.

Key Target Zones and Historical Production Records

Several targets merit particular attention based on historical mining significance. The Goldwedge area, historically mined from the 1990s onward, remains the cornerstone of the current resource base. Recent drilling has intersected 12.47 g/t Au over 7.6 metres and 1.69 g/t Au over 55.6 metres, confirming persistent high-grade mineralization.

The West Pit, historically Summa Corporation’s primary production zone, was mined at a 3.9:1 strip ratio at grades exceeding 2 g/t Au. Scorpio’s best interval from this zone returned 27.16 g/t Au over 16.8 metres, underscoring the area’s continued resource potential.

The Mustang Hill target contains multiple historic adits extending over a mile from entrance portals, with tunnels historically yielding bonanza-grade ore. Recent sampling has confirmed 3.89 g/t Au over 41.2 metres, demonstrating continuity of the mineralized system.

The Gap Zone, positioned between the historic Reliance and Goldwedge mines along a major fault system, remains largely untested. Phase 1 drilling recently confirmed intervals of 1.24 g/t Au over 92.8 metres, indicating the zone’s viability as a near-surface extension of known resources.

The Keystone Jumbo zone, located approximately 5 kilometres southeast, carries historical resource estimates of 156,000 ounces at 7.64 g/t—significantly higher grades than the primary resource area. This remote zone has seen limited modern drilling despite its historical productivity.

Data Integration and Genetic Model Development

The company has initiated a comprehensive digitization effort consolidating all historical records into a modern GIS platform. This effort has assembled over 350 historic production workings, 42,500 drill assays, 4,043 field rock samples, and 4,819 soil samples into a unified dataset. For the first time, this historically fragmented data is being analyzed through a single interpretive lens.

This consolidation effort is facilitating development of a genetic model for gold mineralization, enabling predictive targeting of both extensions to known resources and entirely new prospects. Geological teams have identified that mineralization appears concentrated within the hinge zone of a district-scale west-northwest trending antiform structure, with principal mineralization confined to associated faulting along this same trend.

Upcoming Exploration Program and Timeline

Scorpio is executing a phased drilling campaign with completion targeted for end of 2026. Phase 1 drilling (4,216 metres across 12 holes) is complete. Phase 2, comprising a minimum of 50,000 metres across approximately 200 holes, is currently underway, with 2,078 metres completed as of the latest update.

The company has transitioned entirely to diamond drilling for this program, replacing reverse circulation methods. Three diamond rigs are now operational or in mobilization, substantially accelerating program delivery. Anticipated program initiation on multiple targets is scheduled for Q1 2026 following permit finalization.

Complementing the drilling program, Scorpio is conducting comprehensive geometallurgical mapping and metallurgical testing to de-risk processing assumptions and optimize recovery parameters.

Market Context and Infrastructure Advantages

The Manhattan District benefits from proximity to established mining infrastructure. Located approximately 20 kilometres south of the operating Round Mountain Gold Mine (which has produced over 15 million ounces), the district retains a permitted 400-tonne-per-day gravity mill at Goldwedge and existing water rights—significant advantages for any future development.

As a past-producing district with permitted infrastructure and consolidated modern ownership, Manhattan presents a substantially de-risked exploration platform relative to early-stage greenfield opportunities.