Manhattan District Yields Significant Gold Intercepts: Continuous Mineralization Confirmed Across Multiple Zones in Nevada

Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) has unveiled compelling drilling outcomes from its 2025 exploration campaign at Manhattan District in Nevada, USA. The company’s latest batch of seven drill holes demonstrates not only the scale of the district-level opportunity but also validates the geological continuity underlying the project’s multi-million-ounce potential.

Reliance Trend: Expanding the High-Grade Corridor

The Reliance Trend continues to emerge as a primary focus area, with recent drilling establishing both depth and lateral extensions. Hole 26MN-026 encountered a substantial 24.67-metre interval grading 1.85 g/t gold beginning at 98.76 metres depth. This result represents a meaningful step-out from the existing inferred resource, occurring approximately 35 metres away from the nearest resource block. Within the same hole, narrower high-grade zones were identified, including 1.48 metres grading 12.52 g/t gold and 8.47 metres grading 3.56 g/t gold, underscoring the complexity and tenor of the mineralized system.

Northwesterly step-out drilling along the Reliance Fault produced additional encouraging results. Hole 24MN-025 intersected multiple intercepts across a wide depth range, most notably 3.47 metres grading 6.69 g/t gold from 182.54 metres. This interval sits within a boundary zone of the resource model where mineralization continuity remains an active exploration objective. Hole 25MN-024 delivered 8.99 metres grading 1.93 g/t gold from 177.39 metres, positioned 25 metres away from known mineralization, further validating the lateral persistence of the trend.

Mustang Hill: Discovery of New Structural Control

Recent work at Mustang Hill has revealed a previously unrecognized structural feature hosting gold mineralization. Hole 25MN-021 intersected two separate zones separated by a 3.96-metre gap: an 18.14-metre interval grading 1.52 g/t gold from 176.78 metres and an overlying 17.19-metre interval grading 0.74 g/t gold from 155.63 metres. Combined, these intervals represent 39.01 metres grading 1.03 g/t gold, located approximately 100 metres from existing resource blocks. This discovery indicates mineralization continuity extends well beyond current resource boundaries. Near-surface mineralization was also intercepted in the form of 16.89 metres grading 0.48 g/t gold from 76.69 metres.

Hole 25MN-022 provided compelling evidence of a high-grade feeder zone. The hole encountered 3.23 metres grading 21.82 g/t gold from 168.86 metres (reported as 9.95 g/t gold applying a 70 g/t top cut to account for a single high-assay sample). Below this zone, two additional intervals—2.71 metres grading 10.18 g/t gold and 4.08 metres grading 1.12 g/t gold—suggest this newly recognized splay of the main Reliance structure may widen significantly where it intersects favorable limestone and sandstone host rocks along the caldera margin.

Gap Zone: Maintaining Resource Continuity

The Gap Zone, situated between the West Pit and the Goldwedge underground mine, demonstrated sustained mineralization continuity. Hole 25MN-020 intersected 36.97 metres grading 0.94 g/t gold from 162.95 metres, confirming that gold-bearing formations extend through this area. This result supports the model of a connected mineralized system and is expected to contribute additional tonnage to the inferred resource upon updated modeling.

Stray Dog Area: Defining System Limits

Hole 25MN-023 extended exploration to the northwest, encountering 4.88 metres grading 2.59 g/t gold from 121.92 metres. This 100-metre step-out from existing resource blocks indicates the system pinches out in this direction, helping to constrain the northern extent of mineralization.

Exploration Implications and Resource Outlook

The cumulative results from 16 drillholes totaling 5,341 metres drilled in 2025 paint a picture of a robust, district-scale gold system characterized by multiple mineralization zones, favorable geology, and strong grades. The demonstration of mineralization continuity across Mustang Hill, the Gap Zone, and the Reliance Trend—combined with high-grade intercepts and step-outs ranging from 25 to 100 metres—directly supports Scorpio Gold’s strategy to materially expand the resource base. CEO Zayn Kalyan noted that “Manhattan stands apart from its peers based on grade,” adding that the 50,000-metre drilling program now underway will generate a steady flow of updates highlighting the property’s value as a high-grade, low-risk Nevada asset.

Analytical and Quality Procedures

All samples were prepared and analyzed by Paragon Geochemical in Reno, Nevada, using PhotonAssay methodology on crushed core material. Quality assurance protocols included unmarked blanks, certified reference materials, and laboratory duplicates inserted systematically into each batch, representing approximately 8% of all samples analyzed. All facilities maintain ISO 17025:2017 compliance.

Project Context

Manhattan District, situated in the Walker Lane Trend of Nevada approximately 20 kilometres south of the operating Round Mountain Gold Mine, represents one of Nevada’s significant past-producing areas. Historical gold production from the late 1800s through mid-2000s exceeded 700,000 ounces from placer and lode operations. The current maiden mineral resource estimate encompasses 18.34 million tonnes grading 1.26 g/t gold (740,000 ounces inferred), with a separate historical resource estimate covering additional zones. The property includes valuable permitting, water rights, and existing processing infrastructure, positioning Manhattan as an advanced-stage exploration opportunity with demonstrated geological continuity and substantial upside potential.