Sabre Gold Mines Corp. press release

Scorpio Gold Drills 2.94 g/t Gold over 36.42 Metres from 169.62 Metres at the Goldwedge Target at Manhattan

2026-10-14

TSX - Toronto Stock Exchange · Gold · Silver · Copper · Zinc · Lead · Canada · Drill Results

Highlights

Hole 26MN-124returned, at Goldwedge: 2.94 g/t gold over 36.42 metres ("m") from 169.62 m including 19.33 g/t gold over 4.27 m from 188.36 m within faulted Zanzibar and Gold Hill Formations.

Hole 26MN-125returned, at West Pit: 24.85 g/t gold over 1.22 m from 150.88 mwithin the Gold Hill Formation.

Hole 26MN-121returned, at Black Mammoth: 1.37 g/t gold over 17.07 m from 275.54 m, within the mudstones of the Zanzibar Formation, including 17.04 g/t gold over 1.07 m 289.74 m at the brecciated contact of the Zanzibar mudstone and Zanzibar limestone units.

Hole 26MN-122 returned, along the Zanzibar Trend: 1.18 g/t gold over 17.10 m from 47.21 m, including 5.58 g/t over 2.59 m from 60.66 m within brecciated metasediments of the Gold Hill Formation. 1.48 g/t gold over 9.48 m from 67.79 m within metasediments of the Gold Hill Formation crosscut by quartz and sulfide breccias, as well as epithermal textured quartz-carbonate veins.

Vancouver, British Columbia--(Newsfile Corp. - October 14, 2026) - Scorpio Gold Corp.(NASDAQ: SGLD) (TSXV: SGLD) (OTCQB: SRCRF) (FSE: RY9)("Scorpio Gold", or the "Company") is pleased to announce results from eight drill holesof the Phase Two drill program at the Manhattan District Project ("Manhattan"), Nevada, USA: 26MN-117, and 26MN-119 through 26MN-125, see Figure 1. The results are tabulated in Table 1and discussed below. Scorpio Gold has drilled 122 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046 through 26MN-132, for a grand total of 35,844 m. With the results herein, Scorpio Gold has reported assays on 115 of these(25MN-011 through 25MN-045, 26MN-046 through 26MN-125, totalling 33,379 m), and assays are pending from seven holes (26MN-126 through 26MN-132), totalling 2,465 m. The pending results will be reported as they become available.

"Hole 26MN-124 returned 2.94 grams across 36.42 metres, containing 19.33 grams over 4.27 metres and is consistent with high grade feeder zones feeding a wider mineralised envelope. Additionally, generally lower grade intercepts in eight holes, drilled in four areas across the system returned intervals outside the existing resource. Our understanding now puts all of these areas in context and will allow the company to keep expanding the current compliant resource, update and expand the historic resources and explore the abundant historic small mines dating from the initial gold rush in this area. Scorpio continues to add value with systematic drilling guided by modern drilling to expand toward its true district scale potential. Moreover, Scorpio continues to investigate innovative ways to crystallise the value of this unique asset as early as possible. Hole 26MN-124 provides further impetus to investigate a potential underground restart at Goldwedge as a nearer-term path to production, ahead of the surrounding district. Also, a sonic drill program to provide an initial test of grade and tonnage of the historic heap leach, tailings pond and low-grade stockpile is scheduled to start before the end of the month. Few juniors can offer this diversity of existing value, near-term potential and district-scale upside," said Zayn Kalyan, CEO and Director of Scorpio Gold.

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Figure 1:Surface Plan Map of drill holes.

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| Drill Hole ID | Target Azimuth / Dip | From (m) | To (m) | Intercept¹ (m) | Gold (g/t) | | 26MN-117 | Zanzibar Trend | 40.23 | 50.14 | 9.91 | 0.52 | | 241 m | 050° / -45° | 74.37 | 78.24 | 3.87 | 4.59 | | | including | 75.07 | 77.11 | 2.04 | 8.40 | | | | 126.74 | 130.09 | 3.35 | 0.42 | | | | 152.24 | 161.54 | 9.30 | 0.59 | | | | 177.24 | 185.93 | 8.69 | 0.28 | | | | 194.47 | 204.83 | 10.36 | 1.03 | | 26MN-119 | Zanzibar Trend | 110.80 | 115.52 | 4.72 | 0.55 | | 261 m | 038° / -75° | | | | | | 26MN-120 | Goldwedge | 111.25 | 121.46 | 10.21 | 0.26 | | 309 m | 351° / -47° | 151.18 | 153.92 | 2.74 | 2.39 | | 26MN-121 | Black Mammoth | 157.40 | 164.62 | 7.22 | 0.32 | | 446 m | 145° / -45° | 180.29 | 184.10 | 3.81 | 0.45 | | | | 212.75 | 213.57 | 0.82 | 16.89 | | | | 275.54 | 292.61 | 17.07 | 1.37 | | | including | 289.74 | 290.81 | 1.07 | 17.04 | | | | 416.35 | 419.25 | 2.90 | 0.28 | | 26MN-122 | Zanzibar Trend | 47.21 | 64.31 | 17.10 | 1.18 | | 288 m | 192° / -45° | | | | | | | including | 60.66 | 63.25 | 2.59 | 5.58 | | | | 67.79 | 77.27 | 9.48 | 1.48 | | | | 87.78 | 94.18 | 6.40 | 0.29 | | | | 229.27 | 229.88 | 0.61 | 2.03 | | | | 246.49 | 246.98 | 0.49 | 1.28 | | 26MN-123 | Goldwedge | 26.22 | 37.19 | 10.97 | 0.19 | | 154 m | 80° / -45° | 41.76 | 44.81 | 3.05 | 0.71 | | | | 57.91 | 65.07 | 7.16 | 1.13 | | 26MN-124 | Goldwedge | 26.98 | 44.14 | 17.16 | 0.37 | | 415 m | 332° / -50° | 61.87 | 90.83 | 28.96 | 0.37 | | | | 94.49 | 110.95 | 16.46 | 0.36 | | | | 115.97 | 134.26 | 18.29 | 0.51 | | | | 140.21 | 145.60 | 5.39 | 0.26 | | | | 169.62 | 206.04 | 36.42 | 2.94 | | | including | 188.36 | 192.63 | 4.27 | 19.33 | | | | 225.95 | 237.62 | 11.67 | 0.39 | | | | 244.30 | 254.97 | 10.67 | 0.19 | | 26MN-125 | ICP / Brougher | 103.45 | 113.17 | 9.72 | 0.48 | | 379 m | 90° / -45° | 126.07 | 142.07 | 16.00 | 0.30 | | | | 150.88 | 152.10 | 1.22 | 24.85 | | | | 155.30 | 165.66 | 10.36 | 0.31 | | | | 169.38 | 186.54 | 17.16 | 0.25 | | | | 276.30 | 286.36 | 10.06 | 0.21 | | ¹ Intervals contain no more than 3 continuous metres grading less than 0.1 g/t gold. | | | | | |

Table 1:Tabulated assay results showing significant intervals of gold mineralization.Note: There is insufficient geological information to estimate a true width for the drill intercepts reported.

Goldwedge Results:

26MN-124: This drill hole contains several significant intercepts (Figure 3) at or above the cutoff grade of the 2025 MRE (0.3 g/t gold), hosted in a structurally complex zone (Figure 2) containing apparently repeated stratigraphic sections through both the Ordovician Zanzibar Formation and Cambrian Gold Hill Formation. Faulted and apparently discontinuous intervals of the Oligocene Volcanics of the Manhattan Caldera are also present within the mineralized zones. The upper intervals of notable gold mineralization are hosted in faulted Zanzibar mudstones and limestones, with gouge-filled structures being common in intervals with stronger gold concentrations. These intervals include:

0.37 g/t gold over 17.16 m from 26.98 m 0.37 g/t gold over 28.96 m from 61.87 m 0.36 g/t gold over 16.46 m from 94.49 m 0.51 g/t gold over 18.29 m from 115.97 m

Below these intervals the drill hole encounters heavily altered and brecciated metasediments of the Gold Hill Formation. The highest-grade portion of the drill hole is found within these rocks, representing one of several individual fault planes that make up the larger negative flower structure that has been interpreted at the Goldwedge zone. This interval returned:

2.94 g/t gold over 36.42 m from 169.62 m including 19.33 g/t gold over 4.27 m from 188.36 m

The highly faulted and brecciated rocks within the flower structure allow for significant fluid flow in this area, creating the high-grade deposit at Goldwedge. Below the highest-grade portion of the drill hole, more Zanzibar Formation limestones are encountered, reinforcing the interpretation of the negative flower structure which allows for younger rocks to be present deeper than the older Gold Hill rocks. Continued faulting and brecciation of the sediments is seen here, and an additional significant interval was encountered which returned:

0.39 g/t gold over 11.67 m from 225.95 m

26MN-120: This drill hole encountered less of the structural preparation that was observed in the nearby 26MN-124, and no repeated stratigraphy was encountered. Instead, this drill hole encountered the expected Ordovician Zanzibar mudstones and limestones, then proceeds directly into the volcanic rocks of the Manhattan Caldera without ever encountering the metasediments of the Cambrian Gold Hill Formation. This implies that this drillhole encountered a relatively intact block of country rock that was entrained within and not cut by the structures that comprise the negative flower structure at Goldwedge. Due to this relative lack of crosscutting structure, less gold-bearing fluid has permeated the rock encountered by this drillhole relative to drill hole 26MN-124, and the sole significant intercept returned was:

2.39 g/t gold over 2.74 m from 151.18 m

[](https://images.newsfilecorp.com/files/9779/318846_d89e9563d47f18f6_003full.jpg)

Figure 2:Plan view of complex structural zone around Goldwedge and highlighted drill results. Note that for clarity, only drill holes discussed in text are displayed.

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[](https://images.newsfilecorp.com/files/9779/318846_d89e9563d47f18f6_004full.jpg)

Figure 3:Cross Section along drill hole 26MN-124 with highlighted gold intervals, 2025 Block Model and IRCP outline

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9779/318846_d89e9563d47f18f6_004full.jpg

[](https://images.newsfilecorp.com/files/9779/318846_d89e9563d47f18f6_005full.jpg)

Figure 4:Drill hole 26MN-124, interval 184.83 m to 192.63 showing brecciated Gold Hill Formation and gold grades

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9779/318846_d89e9563d47f18f6_005full.jpg

Context:Drill holes 26MN-120 and 26MN-124 were both designed as approximate 50 m step-outs along the projected Reliance Fault from high grade gold intercepted in drill hole 26MN-091, within the Manhattan Caldera Volcanics. Recent drilling at Goldwedge, including the results herein, has demonstrated consistent gold grades, especially in the Paleozoic sediments of the Ordovician Zanzibar Formation and in the underlying Cambrian Gold Hill Formation, located in the structurally well-prepared hanging wall of the Reliance Fault. The Reliance Fault is considered one of the main fluid pathways capable of delivering gold-rich fluids to the prospective host rocks in the Goldwedge area. Additionally, recent results have proven that the Manhattan Caldera Volcanics can likewise host lower grade envelopes around high grade feeder structures. Consistent gold mineralization at Goldwedge is demonstrated by the following previously reported intercepts:

1.69 g/t gold over 55.70 m from 118.90 m(24MN-009) 0.59 g/t gold over 49.23 m from 31.69 m(26MN-048) 11.84 g/t gold over 8.39 m from 106.21 m(26MN-075) 1.27 g/t gold over 45.23 m from 137.95 m(26MN-086) 1.17 g/t gold over 21.58 m from 111.71 m(26MN-089) 2.04 g/t gold over 11.83 m from 115.67 m(26MN-091) 1.60 g/t gold over 33.53 m from 6.70 m(26MN-101) 3.38 g/t gold over 33.31 m from 138.90 m(26MN-109) 2.05 g/t gold over 97.99 m from 64.16 m(26MN-110) 3.02 g/t gold over 48.92 m from 118.87 m(26MN-115) 1.19 g/t gold over 99.94 m from 98.61 m(26MN-118)

The Gap Zone Results

26MN-123: Drill hole 26MN-123 was designed as an up-dip step-out approximately 50 m from drill hole 25MN-041 along the Reliance Fault which in this area separates the Paleozoic sedimentary package from the Manhattan Caldera Volcanics. This drillhole encountered anomalous gold mineralization throughout the upper portion of Gold Hill Formation meta-mudstones, especially near the brecciated marble units. The most significant mineralization encountered in this hole is found in a heavily faulted zone of Zanzibar limestones and mudstones, with lenses of competent rock surrounded by gouge and zones of low recovery, representing lithons entrained within the larger structural zone.

1.13 g/t gold over 7.16 m from 57.91 m

Context:The Gap Zone is the previously undrilled area that connects Goldwedge to the Reliance Trend and ultimately, the historic West Pit. Mineralization is hosted entirely within the meta-sediments of the Gold Hill Formation or in brecciated limestone of the Zanzibar Formation and is dominantly controlled by veins and structures related to the steeply dipping Reliance Fault. The Gap Zone lies near the complex structural zone that defines the southern end of the negative flower structure that has been interpreted at the Goldwedge area. First tested in early 2025, significant mineralization at the Gap Zoneincludes:

1.24 g/t gold over 92.81 m from 3.05 m(25MN-011) 1.27 g/t gold over 14.75 m from 194.95 m(25MN-013) 0.80 g/t gold over 33.13 m from 118.38 m(25MN-017) 0.94 g/t gold over 36.97 m from 162.95 m(25MN-020) 2.21 g/t gold over 7.38 m from 222.14 m(25MN-030) 0.58 g/t gold over 16.15 m from 111.86 m(25MN-041)

Zanzibar Trend Results:

26MN-117: Drill hole 26MN-117 was designed as an approximate 50 m step out from both 26MN-080 and 26MN-097, testing the multiple mineralization controls previously identified at the Zanzibar Trend like bedding parallel dissolution vugs and sub-vertical veins and faults running generally parallel to the major fault zone separating the Paleozoic sediments from the Oligocene aged volcanics of the Manhattan Caldera. This drillhole also crosses the sub-vertical Brougher Fault which has apparent controls on mineralization where it intersects the primary controls. Mineralized intervals within this drill hole are found straddling the Ordovician Zanzibar and Cambrian Gold Hill Formation contact, as well as throughout the Gold Hill Formation in veins and sub-vertical structures healed by quartz and sulfide. Notable intervals of gold mineralization include:

0.52 g/t gold over 9.91 m from 40.23 m 4.59 g/t gold over 3.87 m from 74.37 m 0.59 g/t gold over 9.30 m from 152.24 m

The deepest encountered significant gold mineralization in this drill hole is found along the major structure (the Pemba Fault) separating the sedimentary rocks from the volcanic rocks of the Manhattan Caldera. The Pemba Fault is continuously mineralized along strike for at least 400 metres at the Zanzibar Trend, and locally along dip from surface to a depth of at least 250 metres. Drill hole 26MN-117 steps out approximately 40 meters vertically down-dip along the Pemba Fault from drill hole 26MN-080 (See Press Release Here), where it encountered:

1.03 g/t gold over 10.36 m from 194.47 m

26MN-119: Testing the western extension of the Zanzibar Trend, drill hole 26MN-119 was designed targeting a gap along the Pemba Fault between drill holes 26MN-093 (approximately 50 m up-dip) and 26MN-085 (approximately 65 m down-dip). Detectable gold mineralization was encountered along the Pemba Fault, however it is not considered significant at this time. Significant mineralization was encountered further up-hole within the Zanzibar limestone unit where it was weakly brecciated, with some zones of fault gouge present. Drill hole 26MN-119 returned:

0.55 g/t gold over 4.72 m from 110.80 m

26MN-122: This drill hole is collared at the Zanzibar Trend area but is targeting high-grade mineralization from historic drilling at Mustang Hill, and continues towards the West Pit. Familiar stratigraphy of the Ordovician Zanzibar limestone transitioning to the Gold Hill meta-mudstones and meta-siltstones is encountered at the top of the hole. The White Caps marble unit is encountered high in the Gold Hill portion of the sediments, and near the bottom of this unit the first significant gold mineralization is reported. The technical team at Scorpio believes that the strong rheological contrast between the marble and the surrounding meta-mudstones allows for a preferred stratigraphic horizon to host gold mineralization, and drill hole 26MN-122 is another example of this observation; straddling the marble to meta-mudstone contact is the following interval:

1.18 g/t gold over 17.10 m from 47.21 m Including 5.58 g/t gold over 2.59 m from 60.66 m

Following this interval is a zone of moderately clay altered meta-sediments, and then another zone of weak silicification and epithermal stringer veins with drusy quartz returning:

1.48 g/t gold over 9.48 m from 67.79 m

The balance of the hole is comprised of weakly altered meta-sediments of the Gold Hill Formation, though several small zones of quartz and sulfide healed breccias are moderately mineralized with gold:

2.03 g/t gold over 0.61 m from 229.27 m 1.28 g/t gold over 0.49 m from 246.49 m

Context: The Zanzibar Trend is the previously underexplored area between Mustang Hill and Goldwedge along the faulted contact of the Paleozoic meta-sediments and the Oligocene aged volcanics of the Manhattan Caldera. High grade gold mineralization is encountered along two main controlling features: sub-vertical structures parallel to the main contact fault, and along gently to moderately dipping bedding planes primarily in the Cambrian Gold Hill Formation. All drillholes reported herein attempt to extend known mineralization by stepping out approximately 50 m from previous drilling along interpreted ore controlling features such as preferred bedding planes or sub-vertical structures. The results reported herein add to thesignificant mineralization encountered along the Zanzibar Trend, including:

3.14 g/t gold over 49.62 m from 59.95 m(25MN-044) 0.66 g/t gold over 57.64 m from 29.59 m(25MN-045) 2.10 g/t gold over 22.25 m from 34.14 m(26MN-063) 2.74 g/t gold over 16.49 m from 45.45 m(26MN-066) 12.78 g/t gold over 5.91 m from 134.51 m(26MN-067) 0.69 g/t gold over 23.23 m from 4.05 m(26MN-070) 2.68 g/t gold over 11.34 m from 0.76 m(26MN-071) 2.77 g/t gold over 12.68 m from 58.64 m(26MN-080) 0.98 g/t gold over 23.20 m from 112.13 m(26MN-114)

Black Mammoth Results:

26MN-121: Stepping out approximately 50 metres to the west of drill hole 26MN-092, drill hole 26MN-121 was designed to test the extent of gold mineralization along the Black Mammoth Fault and along stratigraphic horizons near the upper and lower contacts of the limestone member of the Ordovician Zanzibar Formation. The limestone is overlain by variably siliceous mudstone of the Zanzibar Formation and underlain by phyllitic meta-mudstone of the Cambrian Gold Hill Formation. The strong rheological contrast across these contacts partitioned strain during pre-mineral contractional deformation, producing brecciation and fracture permeability within the chemically reactive limestone. The much younger gold-bearing fluids, potentially fed by the Black Mammoth Fault, exploited these zones, while the bounding low-permeability mudstones helped confine fluid flow along the contacts. While anomalous gold was detected around the Black Mammoth Fault, the significantly mineralized intervals were found along the brecciated and hydrothermally cemented upper and lower contacts of the limestone member of the Zanzibar Formation and locally within variably oxidized quartz and sulfide cemented breccias that crosscut the stratigraphy:

0.32 g/t gold over 7.22 m from 157.4 m 0.45 g/t gold over 3.81 m from 180.29 m 16.89 g/t gold over 0.82 m from 212.75 m 1.37 g/t gold over 17.07 m from 275.54 m Including 17.04 g/t gold over 1.07 m from 289.74 m

Context: Black Mammoth is a ~200+ m step-out from Goldwedge. Significant gold mineralization can be found within the Ordovician Zanzibar sediments along structures related to the Black Mammoth Fault, and on both sides of the major fault defining the contact between the Paleozoic sediments and the Oligocene aged volcanics of the Manhattan Caldera. Drill hole 26MN-121 is an approximate 50 m step-out along strike from significant mineralization encountered within drill hole 26MN-092 within the Zanzibar Formation. Significant mineralization encountered at Black Mammoth includes:

0.75 g/t gold over 24.69 m from 230.12 m(26MN-053) 1.02 g/t gold over 40.23 m from 195.69 m(26MN-057) 0.62 g/t gold over 62.21 m from 230.43 m(26MN-069) 6.04 g/t gold over 4.86 m from 308.23 m(26MN-072) 0.58 g/t gold over 18.04 m from 311.05 m(26MN-078) 0.83 g/t gold over 18.01 m from 277.68 m(26MN-092) 2.56 g/t gold over 13.38 m from 293.28 m(26MN-096)