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Press release from Marketwire

Scorpio Gold Intersects Near Surface Mineralization at the Wedge B Zone, Mineral Ridge Project

Tuesday, November 08, 2011

Scorpio Gold Intersects Near Surface Mineralization at the Wedge B Zone, Mineral Ridge Project08:00 EST Tuesday, November 08, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2011) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) announces the initial drill results from the Wedge B Zone at the 70% owned Mineral Ridge project, Nevada.Peter J. Hawley, President and CEO reports, "Our initial drilling on the Wedge B Zone, located 225 metres west of the Drinkwater pit where the Company is currently mining, has intersected mineralization of interest. Given the shallow depth of the mineralization and its close proximity to the crushing unit and haul roads, the Company is examining the viability of adding the extraction of this zone into the 2012 mine planning. This addition has the potential to increase the overall gold production scheduled for the coming year."Table 1. Wedge B Zone - Significant Drill ResultsHole No.From (ft)To (ft)Width (ft)From (m)To (m)Width (m)Gold OPTGold g/tMR11176020200.006.106.100.0240.6870801021.3424.383.050.0330.94MR111772545207.6213.726.100.0160.456065518.2919.811.520.0371.05MR111780550.001.521.520.0180.51253057.629.141.520.0180.514045512.1913.721.520.0320.9155802516.7624.387.620.0300.85105110532.0033.531.520.0240.68MR111790550.001.521.520.0250.712550257.6215.247.620.0210.6095100528.9630.481.520.0712.01MR111804550513.7215.241.520.0150.435560516.7518.291.520.0140.40MR1118140602012.1918.296.100.0340.96MR1118245551013.7216.763.050.1012.86MR1118355701516.7621.344.570.0421.19MR11184303559.1410.671.520.0180.51MR111854045512.1913.721.520.0180.51100105530.4832.001.520.0180.51MR1118645601513.7218.294.570.0852.41MR1118785951025.9128.963.050.0320.91MR111881001202030.4836.586.100.0190.54MR1119051051.523.051.520.0270.77MR111943540510.6712.911.520.0190.54MR111966065518.2919.811.520.0240.6875901522.8627.434.570.0290.82MR11198125130538.1039.621.520.0521.47MR11199015150.004.574.570.0350.99All holes presented in the above tables were completed by reverse circulation (RC) drilling. 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: www.scorpiogold.com/Documents/QAQC-MR.pdf. President & CEO, Peter J. Hawley, PGeo, is the Qualified Person for the Mineral Ridge project and has reviewed the content of this release. For additional information please see the Company's website at www.scorpiogold.com. ON BEHALF OF THE BOARD SCORPIO 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 Mineral Ridge project. 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.comORJim MacdonaldTorrey Hills CapitalInvestor Relations858-456-7300jm@sdthc.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.