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Press release from Marketwire

Scorpio Gold's Surface RC Drilling on the Mineral Ridge Gold Deposit, Nevada, Reports 22.86 Metres Grading 1.65 g/t Gold in Down Dip Extension of Drinkwater Zone

Thursday, May 06, 2010

Scorpio Gold's Surface RC Drilling on the Mineral Ridge Gold Deposit, Nevada, Reports 22.86 Metres Grading 1.65 g/t Gold in Down Dip Extension of Drinkwater Zone08:31 EDT Thursday, May 06, 2010VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 6, 2010) - Scorpio Gold Corporation (TSX VENTURE:SGN) announces additional drill results from reverse circulation (RC) drilling in the Drinkwater pit area of the Mineral Ridge gold deposit, Nevada.Peter J. Hawley, CEO, Director, reports, "We continue to be very pleased with our drilling success as we embark on an aggressive three-phase drill program for the property. The results support the robust nature of the mineralization in terms of grades and widths in all areas tested to date."The Mineral Ridge project, a former producer, is located about 50 kilometres west of Tonopah, Nevada and has historically produced almost 575,000 ounces of gold, including approximately 170,000 ounces from open pit and approximately 405,000 ounces from underground mining operations. The property is currently bonded and has been permitted for heap leach gold processing and production, and was in production as recently as 2004. The mine project comprises 351 claims encompassing 4,118 hectares (10,176 acres), and hosts multiple gold bearing structures, veins and bodies. It features a well-developed infrastructure consisting of roadways, power grid, heap leach pad, crushing circuit, ADR plant, water supply, maintenance shop, refuelling and storage facilities and administrative buildings.Drill ProgramThe current pit area drilling is first of a three-phase drill program directed to expand and tightly define the mineral resource base. A mineral resource estimate and NI 43-101 technical report is in preparation by Micon International Limited, with completion now expected in late May 2010. Current and future results from drilling will be incorporated in future updates to this resource estimate. The second phase of drilling is directed at expanding the currently defined pit mineralization by drilling the pit extensions and adjoining walls. To this end, the Company has mobilized a second tracked drill that is smaller in size and will allow access to the pit bench areas and between pits. The third phase of drilling will be directed on a property-wide scale to target numerous gold-bearing mineralized zones/structures recently discovered by the Company's surface exploration program. The scale of the three-phase program is as yet open-ended, and any or all of the three phases may be ongoing on at any given time. Results will continue to be reported as received and compiled.Drinkwater Deposit OverviewThe Drinkwater Deposit is the largest known mineral deposit on the property and is located on the northeastern side of the metamorphic and intrusive core complex. It was partially mined by underground methods from the 1860's to the early 1940's and by open pit methods from 1989 to 2004. The mineralized zones in the Drinkwater deposit have a general strike of N45 Degrees W and dip about 20 Degrees to 25 Degrees to the northeast. Drill defined mineralized zones have a strike length of 750 metres and down dip extension of over 600 metres; containing two or more gold-bearing shear zones with an individual thickness of 1.5 to 12 metres and an overall thickness of more than 30 metres.RC drill holes reported in Table 1 were designed to target the main mineralized area of the Drinkwater pit to re-confirm the previous drilling and resource base, and to test the down dip extension of mineralization at the northeast edge of the pit. Drill hole MR-100-54, 56 (not reported) targeted a sterile area for future waste disposal. Table 1. Drinkwater Mineralized Pit Area - RC Drill Results ---------------------------------------------------------------------------- Drill Hole Location From To Width Gold Re-Check (m) (m) (m) (g/t) (g/t) ---------------------------------------------------------------------------- MR-100-52 Drinkwater Pit - SE bench 10.67 13.72 3.05 0.75 ---------------------------------------------------------------------------- 19.81 27.43 7.62 1.80 1.84 ---------------------------------------------------------------------------- 39.62 56.39 16.77 1.77 1.77 ---------------------------------------------------------------------------- 71.63 73.15 1.25 0.56 ---------------------------------------------------------------------------- MR-100-53 Down dip extension of 27.43 42.67 15.24 1.40 1.43 NE pit area ---------------------------------------------------------------------------- 53.34 54.86 1.52 0.40 ---------------------------------------------------------------------------- 85.34 86.87 1.53 0.44 ---------------------------------------------------------------------------- 94.49 96.01 1.52 1.81 ---------------------------------------------------------------------------- MR-100-55 Drinkwater Pit - SE bench 6.10 9.14 3.04 0.40 ---------------------------------------------------------------------------- 18.29 19.81 1.52 0.44 ---------------------------------------------------------------------------- 28.96 32.00 3.04 2.15 ---------------------------------------------------------------------------- 54.86 65.53 10.67 0.84 ---------------------------------------------------------------------------- MR-100-57 Down dip extension of 62.48 85.34 22.86 1.59 1.65 NE pit area ---------------------------------------------------------------------------- MR-100-58 Drinkwater Pit - SE bench 39.62 47.24 7.62 0.44 ---------------------------------------------------------------------------- 57.91 59.44 1.53 0.47 ---------------------------------------------------------------------------- 68.58 85.34 16.76 1.68 ---------------------------------------------------------------------------- MR-100-59 Drinkwater Pit - SE bench 4.57 15.24 10.67 3.27 3.32 ---------------------------------------------------------------------------- MR-100-60 Drinkwater Pit - SE bench 6.10 9.14 3.04 2.43 2.39 ---------------------------------------------------------------------------- 16.76 18.29 1.53 0.40 ---------------------------------------------------------------------------- 22.86 24.38 1.52 1.81 ---------------------------------------------------------------------------- 30.48 41.15 10.67 1.90 ---------------------------------------------------------------------------- All RC holes presented in the above table were drilled at 90 Degrees vertical dip; true width is estimated at approximately 90% downhole width. Analytical results were performed by American Assay Laboratory Inc. (AAL) in Sparks, Nevada, USA. AAL does not have ISO/IEC 17025 accreditation but implements a quality management system following ISO/IEC 17025 standards and maintains a paperwork trail for ISO/IEC 17025 accreditation. AAL participates in a number of testing and certification programs, details of which are presented in the Company's quality assurance and quality control (QA/QC) program for the Mineral Ridge project at: www.scorpiogold.com/Documents/QAQC-MR.pdf. Check assays were completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory, on approximately 5% of the gold-bearing assays.For additional information please see the Company's website at www.scorpiogold.com.CEO, Mr. Peter J. Hawley, PGeo, is the Company's Qualified Person for the various Company projects. Mr. Hawley is responsible for the current exploration and development programs and has reviewed the content of this release.ON BEHALF OF THE BOARDSCORPIO GOLD CORPORATIONPeter J. Hawley, Chief Executive Officer and DirectorThe Company relies on litigation protection for "forward-looking" statements. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.FOR FURTHER INFORMATION PLEASE CONTACT: JNS Capital Corp. Jag Sandhu (604) 306-1950 jagsandhu@telus.net Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.