Scorpio Gold drilling intersects 6.10 metres grading 5.82 g/t gold on Mary Zone, mineral ridge project

Friday, Mar 23, 2012

Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) announces final results of the 2011 drilling program on the Mary Zone, located southwest of the current mining in the Drinkwater pit at the 70% owned Mineral Ridge project, Nevada.

Peter J. Hawley, President and CEO reports, "The 2011 drilling program has successfully defined the extent of mineralization for the final pit design over the Mary Zone. In addition, drill results have increased the overall width of the zone and confirmed that gold mineralization extends southwest from the Mary Zone to the adjacent Mary LC Zone, encompassing a strike length of 780 metres. All assays for the Mary Zone drill program have been received and incorporated into the overall database for a planned NI 43-101 compliant mineral resource and reserve estimate and Mine Plan Study to be completed by AMEC. Completion of this study continues to be on target for May of this year."

Scorpio Gold is also pleased to announce that under International Financial Reporting Standards, the property is being treated for accounting purposes as if commercial production commenced effective January 1, 2012.

Final drill results of the Company's 2011 drilling program on the Mary Zone are presented below. For previously released results, please refer to the Company's news releases of January 5, 17 and February 28, 2012.

A longitudinal section of current mining and exploration in the Drinkwater Pit and Mary and Mary LC Zones is available at: www.scorpiogold.com/i/maps/mr/DW-Mary_LS.jpg.

All holes presented in the above table were completed by reverse circulation (RC) drilling. True width is estimated at approx. 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/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.

Source: Marketwire