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Press release from Marketwire

Scorpio Gold's Exploration Drilling Expands Mineralization from Open Pit Areas at the Mineral Ridge Gold Deposit, Nevada

Tuesday, April 12, 2011

Scorpio Gold's Exploration Drilling Expands Mineralization from Open Pit Areas at the Mineral Ridge Gold Deposit, Nevada08:30 EDT Tuesday, April 12, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2011) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) announces initial drill results from 2011 reverse circulation (RC) exploration and definition drilling in the Drinkwater, Mary North and Mary LC areas of the Mineral Ridge gold deposit, Nevada.Peter J. Hawley, President & CEO reports, "The initial 2011 exploration drilling has been successful in expanding the known mineralization beyond the existing open pit areas. For example, results to date for the Mary North area report mineralization extending to over 300 metres beyond the existing pit wall. These results demonstrate the widespread nature of mineralization that hosts the Mineral Ridge deposit, and the opportunity for Scorpio Gold to significantly expand the mineral resource base. The Company will continue to release results as they are received and compiled."Results presented in Tables 1-4 are part of the Phase I drilling that is designed to expand and upgrade the existing mineral resource estimate in the vicinity of the existing pits scheduled for mining this year (see February 2, 2011 news release). Condemnation drilling is also underway to verify sterile areas for future site facilities. Table 1. Mary LC Area – Exploration RC Drill ResultsDrill HoleLocationFrom (m)To (m)Width (m)Gold (g/t)MR-11-09126 metres northwest of Mary LC Pit24.3933.549.151.52MR-11-09723 metres northwest of Mary LC Pit16.7718.291.520.34MR-11-09861 metres northwest of Mary LC Pit30.4933.543.050.5753.3554.881.520.5156.4057.931.520.3160.9865.554.570.59MR-11-09975 metres northwest of Mary LC Pit28.9630.491.521.6433.5457.9324.390.57Including33.5444.2110.670.67Including33.5441.167.620.85Including44.2157.9313.720.66Including50.3053.353.050.57MR-11-100Condemnation DrillingNilTable 2. Mary North Area – Exploration RC Drill ResultsDrill HoleLocationFrom (m)To (m)Width (m)Gold (g/t)MR-11-10110.5 metres northwest corner of Mary North Pit4.5718.2913.721.69Including4.5713.729.152.28MR-11-104Condemnation DrillingNilMR-11-10591.5 metres northeast of Mary North Pit57.9359.451.520.3773.1780.797.620.51MR-11-10684 metres northeast of Mary North Pit118.90125.006.100.94MR-11-10784 metres northeast of Mary North Pit187.50189.021.520.85MR-11-10876 metres northeast of Mary North Pit106.71109.763.050.48MR-11-109122 metres northeast of Mary North Pit62.5064.021.520.34105.18117.3812.200.92Including108.23117.389.151.17MR-11-110274 metres east of Mary North Pit0. metres east of Mary North Pit0. metres east of Mary North Pit80.7982.321.520.4585.3789.944.570.28MR-11-113305 metres east of Mary North Pit64.0270.126.101.07MR-11-114Results PendingTable 3. Drinkwater Area – Exploration RC Drill ResultsDrill HoleLocationFrom (m)To (m)Width (m)Gold (g/t)MR-11-11530.5 metres east of Drinkwater Pit0.001.521.520.609.1513.724.570.45MR-11-11630.5 metres northeast of Drinkwater Pit16.7719.833.050.7722.8724.391.520.54MR-11-11730.5 metres east of Drinkwater Pit56.4065.559.150.74Table 4. Drinkwater Pit – Definition RC Drill ResultsDrill HoleLocationFrom (m)To (m)Width (m)Gold (g/t)MR-11-118East boundary of Drinkwater Pit36.5938.111.525.5342.6857.9315.241.8159.4562.503.051.2364.0265.551.520.28MR-11-119Results PendingMR-11-120Southeast corner of Drinkwater Pit30.4936.596.103.5747.2651.834.571.79MR-11-121Lower southeast corner of Drinkwater Pit9.1512.203.050.4030.4942.6812.203.03All RC holes presented in the above tables were drilled at 90º vertical dip; true width is estimated at ~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: External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory. For additional information please see the Company's website at & 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, President & CEOThe 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, including those risk factors outlined in the Company's Management Discussion and Analysis for the year ended December 31, 2010 as filed on Sedar. 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: Peter J. HawleyScorpio Gold CorporationPresident & CEO(819) 825-7618phawley@scorpiogold.comwww.scorpiogold.comORTorrey Hills CapitalInvestor Relations:Andrew Hoffman(858) 456-7300ahoffman@torreyhillscapital.comNeither 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.