Scorpio Gold Drills 24.67 Metres Grading 1.85 g/t Gold, from 98.76 Metres, in New Zone of Mineralization at the Manhattan District, NevadaHighlightsHole 26MN-026 returned 1.85 g/t gold over 24.67 metres from 98.76 mHole 25MN-021 returned 1.52 g/t gold over 18.14 metres from 176.78 mHole 25MN-020 returned 0.94 g/t gold over 36.97 metres from 162.95 mHole 25MN-022 returned 21.82 g/t gold over 3.23 metres from 168.86 m incl. 0.43 m grading 159.94 g/t gold reduced to 9.95 g/t gold applying a 70 g/t gold top cutVancouver, British Columbia--(Newsfile Corp. - November 24, 2025) - Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) ("Scorpio Gold", or the "Company") is pleased to announce results from seven holes from its 2025 drilling program at the Manhattan District Project ("Manhattan") located in Nevada, USA, namely,: (i) the final three holes from the Phase One program (25MN-020, 25MN-021 and 25MN-022) and (ii) the initial four holes from the Phase Two program (25MN-023, 25MN-024, 25MN-025 and 25MN-026). The results from holes 25MN-020 through 25MN-026 are tabulated in Table 1 and discussed below. Scorpio Gold has reported assays on 16 drillholes totalling 5,341 m in 2025. "The results from this latest set of drill holes continue to reinforce what our team has believed from the outset: Manhattan is a district-scale opportunity with multi-million ounce potential, that already stands apart from its peers based on grade-something the market has yet to fully appreciate. Encountering new zones of mineralization both near surface and at depth speaks to the true scale of the system, as well as the continuity we are rapidly defining across multiple target areas."Several of these holes step out meaningfully from the existing resource model, and with multiple intercepts ending in mineralization, our confidence in a significantly expanded resource envelope continues to grow. Intervals such as 18.14 metres grading 1.52 g/t gold in hole 25MN-021, and 3.23 metres grading 9.95 g/t gold in hole 25MN-022, represent a previously unrecognized splay off the main Reliance Trend-one that may 'blow out' into thicker zones where it intersects favourable host horizons like the limestones and sandstones that dominate the caldera margin. This is a strong demonstration of near-resource prospectivity and the potential to materially expand the mineralized footprint at Mustang Hill and beyond."With our 50,000-metre program now well underway, this batch of results is just the beginning of what we expect to be a steady cadence of updates that highlight the growing value of Manhattan, our high-grade, low-risk Nevada gold asset," commented Zayn Kalyan, CEO and Director of Scorpio Gold.Results from holes MN25-021 and MN25-022 at Mustang Hill indicate the presence of a previously unidentified structural trend that hosts gold mineralization at grades similar to the existing Mineral Resource along the margin of the Manhattan Caldera. These results present the opportunity to add a new, near-surface target zone to Manhattan that is proximal to the existing Mineral Resource. Future work will include reviewing historic drillholes and underground workings in the area to define the size and shape of this new target area to prepare for testing with diamond drilling.Implications for Resource GrowthCollectively, the results from Mustang Hill, the Gap Zone, and the Reliance Trend support Scorpio Gold's exploration model of significant near-resource expansion. Multiple high-grade intercepts, thick mineralized intervals, and step-outs of 25-100 metres are consistent with the Company's objective to materially grow the resource base in upcoming updates.HoleAreaHighlight ResultGeological Significance25MN-021Mustang Hill39.01 m @ 1.03 g/tNew structural splay; 100 m from resource25MN-022Mustang Hill3.23 m @ 21.82 g/tHigh-grade feeder zone25MN-020Gap Zone36.97 m @ 0.94 g/tResource continuity25MN-026Reliance Trend24.67 m @ 1.85 g/tStep-out expansion25MN-025Reliance Trend3.47 m @ 6.69 g/tComplex boundary modeling25MN-024Reliance Trend8.99 m @ 1.93 g/t25 m step-out25MN-023Stray Dog4.88 m @ 2.59 g/t100 m step-out; limits extent Figure 1. Plan map showing surface background with Inferred Mineral Resource block model and highlighting intercepts in reported batch of drill hole results.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9779/275611_02f3bdd334b97978_002full.jpgDrill HoleIDTargetAzimuth / DipFrom(m)To(m)Intercept¹(m)Gold(g/t)25MN-020Reliance Trend162.95199.9236.970.9425MN-021Mustang Hill76.6993.5716.890.48225° / -45°103.17125.6722.490.26155.63172.8217.190.74176.78194.9218.141.52including181.48190.218.732.9025MN-022Mustang Hill119.66135.3815.710.46155° / -45°168.86172.093.239.94including168.86169.290.43159.94177.39180.112.7110.18including177.39178.260.8711.77including178.26178.690.4339.80183.64187.734.081.1225MN-023Stray Dog121.92126.84.882.39070° / -45°25MN-024Reliance Trend177.39186.398.991.93070° / -55