Mr. Zayn Kalyan reports

SCORPIO GOLD COMMENCES TRADING OF ITS AMERICAN DEPOSITARY SHARES ON THE NASDAQ CAPITAL MARKET UNDER TICKER SYMBOL "SGLD"

Scorpio Gold Corp.'s American depositary shares commenced trading on the Nasdaq Capital Market under the ticker symbol SGLD (Cusip: 80918M401), effective at the opening of trading on Sept. 1, 2026. Each ADS represents 20 common shares of the company.

The Nasdaq listing of the company's ADSs is complementary to, and does not affect, the company's existing listings. The common shares will continue to trade on the TSX Venture Exchange under a new symbol, SGLD, on the OTCQB Venture Market under the symbol SRCRF and on the Frankfurt Stock Exchange under the symbol RY9.

ADS program and conversion process

The company's ADS program is administered by Bank of New York Mellon as depositary. BNY facilitates the issuance and cancellation of ADSs in accordance with instructions received from market participants.

Shareholders who wish to hold and trade their investment in the form of Nasdaq-listed ADSs may convert their common shares into ADSs at any time by instructing their broker or financial intermediary to deposit common shares with BNY, following which ADSs will be issued at the ratio of one ADS for every 20 common shares. Likewise, ADS holders may cancel their ADSs and withdraw the underlying common shares at any time through their broker. ADS issuance fees for SGLD will be waived through Nov. 25, 2026. Starting Nov. 26, 2026, the applicable issuance fee will be $5 (U.S.) per 100 ADSs, rounded up to the nearest 100 ADSs. Please refer to Section 5.9 of the ADS deposit agreement.

Conversion is entirely optional. Shareholders are not required to take any action as a result of the Nasdaq listing, and common shares held on the TSX Venture Exchange, OTCQB or Frankfurt Stock Exchange are unaffected. A detailed FAQ describing the ADS conversion process is available on the company's website. Shareholders with questions regarding the conversion process should contact their broker or the company.

About Scorpio Gold Corp.

Scorpio Gold holds a 100-per-cent interest in the Manhattan district located in the Walker Lane trend of Nevada, United States. Scorpio Gold's Manhattan district is approximately 4,780 hectares, and comprises the advanced exploration-stage Goldwedge mine and four past-producing pits that were acquired from Kinross in 2021 (see news release dated March 25, 2021). The consolidated Manhattan district presents an exciting late-stage exploration opportunity, with over 140,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights.

We seek Safe Harbor.