Mr. Zayn Kalyan reports

SCORPIO GOLD ANNOUNCES APPROVAL TO LIST AMERICAN DEPOSITARY SHARES ON THE NASDAQ CAPITAL MARKET UNDER THE SYMBOL "SGLD"

Scorpio Gold Corp. has received approval to list its American depositary shares on the Nasdaq Capital Market. The ADSs are expected to commence trading on Nasdaq under the symbol SGLD on Sept. 1, 2026. Each ADS represents 20 common shares of the company, with Bank of New York Mellon acting as depositary for the ADS program. The company's common shares will continue to trade on the TSX Venture Exchange.

The Nasdaq listing is expected to broaden Scorpio Gold's access to U.S. institutional and retail investors, enhance trading liquidity, and increase the company's visibility within the world's largest capital market. Because the listing has been structured through an ADS program rather than a direct listing of common shares, the company was able to satisfy Nasdaq's initial listing requirements without a share consolidation, preserving its existing capital structure and home-market liquidity for current shareholders.

In conjunction with the Nasdaq listing, the trading symbol under which the company's common shares trade on the TSX-V will change from SGN to SGLD, effective at the opening of trading on Sept. 1, 2026. The change unifies the company's ticker across both exchanges, providing investors on either side of the border with a single, consistent identity. No action is required by shareholders in connection with the symbol change, and the company's share capital remains unchanged.

"Listing on Nasdaq is a defining milestone for Scorpio Gold. The United States is home to the deepest pool of capital in the world, and this listing places the company squarely in front of that audience -- without a share consolidation and without disrupting the capital structure our existing shareholders have supported. We are doing this against the backdrop of one of the strongest gold markets in a generation, underpinned by a powerful macrocase for dedollarization as central banks and investors alike seek hard assets. The listing is also well timed: Our drill program at the Manhattan district continues to deliver strong results with consistency, hole after hole, reflecting mineralization beyond our maiden resource and reinforcing our conviction in the scale of the district. As that momentum builds, a single SGLD symbol on both sides of the border will give investors one clear identity for the company as we enter this next phase of growth," said Zayn Kalyan, chief executive officer and director of Scorpio Gold.

Marketing update

Scorpio is pleased to announce that it has extended the engagement of Investor Insights Systems Inc., a Canadian company with its head office in Vancouver, B.C., which was previously announced in the company's news release dated April 1, 2026. Pursuant to the extended agreement, IIS will provide digital marketing services, including digital content creation, distribution, search engine marketing, pay-per-click advertising and market awareness campaigns, to the company for a three-month term commencing Sept. 1, 2026, for an aggregate fee of $100,000 (U.S.) plus applicable taxes, payable in cash. IIS is an arm's-length service provider to the company, and, to the company's knowledge, other than 200,000 stock options of the company held by IIS, neither IIS nor its principals have any direct or indirect interest in the company or its securities, nor any right or intent to acquire such an interest.

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.

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