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Press release from Marketwire

Scorpio Gold Drilling Intersects 10.67 Metres Grading 1.35 g/t Gold on the Bluelite-Brodie Trend, Mineral Ridge Project

Tuesday, June 12, 2012

Scorpio Gold Drilling Intersects 10.67 Metres Grading 1.35 g/t Gold on the Bluelite-Brodie Trend, Mineral Ridge Project08:00 EDT Tuesday, June 12, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2012) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) announces initial drill results from its 2012 drilling program on the Bluelite Zone, located 1,100 metres (3,600 feet) northwest of the current mining in the Drinkwater pit at the 70% owned Mineral Ridge project, Nevada.The 2012 initial drilling of the Bluelite Zone was designed to outline the boundaries of the mineralized Brodie structural corridor, which connects the Brodie Zone in the southwest through the Brodie Northwest and Bluelite zones, encompassing a strike length of some 1,370 metres (4,500 feet). Holes MR12366, MR12372 and MR12378 mark the southwest hanging wall of the structure while holes MR 12367, MR 12370 and MR12377 define the northeast footwall. At its northern extent, mineralization lies near surface and is represented by three discrete quartz lenses. To the southeast, mineralization is more controlled by the northwest trending structure and is characterized by greater widths and increased grades. These latest results will be compiled with the existing model to further define the controls of the mineralization for a second phase drill program.Results of nine holes completed on the Bluelite Zone are presented below. Previous drilling results for the Brodie and Brodie Northwest zones are available in the Company's news releases of October 18, 2011, November 15, 2011, May 24, 2012 and June 4, 2012. Infill and step-out exploration drilling continues at Mineral Ridge; results will be released as received and compiled. Table 1. Bluelite Zone - Significant Drill ResultsHole No.From (ft)To (ft)Width (ft)From (m)To (m)Width (m)Gold (OPT)Gold (g/t)MR1236551051.523.051.520.0210.721451551044.2147.263.050.0160.551801901054.8857.933.050.0160.55MR123666065518.2919.821.520.0260.899095527.4428.961.520.0612.09120125536.5938.111.520.0150.51MR1236765801519.8224.394.570.0290.989095527.4428.961.520.0290.99120125536.5938.111.520.0290.99180185554.8856.401.520.0210.72200205560.9862.501.520.0200.69MR1236875901522.8727.444.570.0150.53295300589.9491.461.520.0230.79MR1236960701018.2921.343.050.0782.67951051028.9632.013.050.0200.67MR123705560516.7718.291.520.0160.55MR123722002101060.9864.023.050.0351.20MR123778085524.3925.911.520.0150.511351552041.1647.266.100.0130.45185190556.4057.931.520.0351.202202553567.0777.7410.670.0391.35MR123782752901583.8488.414.570.0150.51A drill hole location map for the Bluelite, Brodie, Brodie Northwest, Solberry, Oromonte and Wedge B zones is available at: www.scorpiogold.com/i/maps/mr/MR_DHplanW.jpg.All holes presented in the above table were completed by reverse circulation (RC) drilling. True width is estimated at ~90% of 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/i/pdf/reports/QAQC-MR.pdf. 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. Scorpio Gold's President & CEO, Peter J. Hawley, PGeo, is a Qualified Person for the Mineral Ridge project and has reviewed and approved 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, development and exploitation 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 risks such as delays related to completion of exploration programs and those risk factors outlined in the Company's Management Discussion and Analysis 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 thereof. FOR FURTHER INFORMATION PLEASE CONTACT: Peter J. HawleyScorpio Gold CorporationPresident & CEO(819) 825-7618phawley@scorpiogold.comORJim MacdonaldTorrey Hills CapitalInvestor Relations(858) 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.