Press release from Marketwire
Scorpio Gold Mining Update on its Mineral Ridge Gold Project, Nevada
Tuesday, June 07, 2011
Scorpio Gold Mining Update on its Mineral Ridge Gold Project, Nevada08:30 EDT Tuesday, June 07, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2011) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) is pleased to announce that the first production blast at the 70% owned Mineral Ridge gold deposit took place in the Drinkwater pit on May 31, 2011. Work in the pit to date has consisted of clean up from previous operators and adjustments to the main access ramp. The first mineralized material mined from the pit, consisting of approximately 25,000 tons grading on average 1.84 grams per tonne (0.065 ounces per ton) gold, is scheduled for delivery to the crusher this week.Mining operations are currently on a one shift per day, five-day week schedule. Production is slated to steadily increase over the first month to a rate of 14,000 tons per day. Attaining a full planned production rate of 20,000 tons per day is expected in July 2011. Mineralized material will be hauled to the crusher facility and be processed at an initial rate of approximately 2,500 tons per day.The current mine plan contemplates 3.2 million tons of mineralized material being mined over a period of 41 months.The Company's mining contractor, Ledcor CMI Inc., has mobilized its heavy mining equipment and main office building to the property, with remaining maintenance and office facilities scheduled to arrive shortly.For additional information please see the Company's website at www.scorpiogold.com.President & CEO, Mr. Peter J. Hawley, PGeo, is the Qualified Person for the Mineral Ridge project. 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 Corporation(819) email@example.comORTorrey Hills CapitalInvestor Relations:Andrew Hoffman(858) firstname.lastname@example.orgNeither 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.