Mr. Zayn Kalyan reports

SCORPIO GOLD CLOSES $8 MILLION PRIVATE PLACEMENT

Further to the news release dated Aug. 29, 2025, Scorpio Gold Corp. has closed a non-brokered private placement through the issuance of 32 million common shares of the company at a price of 25 cents per share for gross proceeds of $8-million. The financing was subscribed to by Ross Beaty ($4.4-million), Eric Sprott ($3-million) and four members of the Lumina Group ($600,000).

The company paid $90,000 in cash finders' fees.

The closing of the financing is subject to final approval of the TSX Venture Exchange.

The company intends to use the net proceeds from the financing to advance exploration and development activities at its flagship Manhattan district project in Nevada, as well as for general corporate purposes. All securities issued in connection with the financing are subject to a four-month-plus-one-day hold period in accordance with Canadian securities laws.

About Scorpio Gold Corp.

Scorpio holds a 100-per-cent interest in the Manhattan mine, a past-producing mine, located in the Walker Lane trend of Nevada, United States. Scorpio's Manhattan district comprises the advanced exploration-stage Goldwedge project, with a 400-ton-per-day gravity mill. Adjacent to Goldwedge is the 4,300-acre Manhattan project, centred on two past-producing pits, acquired from Kinross in 2021. The consolidated Manhattan district presents an exciting late-stage exploration opportunity, with over 100,000-plus metres of historical drilling, with significant resource potential, alongside valuable permitting.

We seek Safe Harbor.