This information is disseminated on behalf of Scorpio Gold Corporation
Scorpio Gold is advancing its 100%-owned Manhattan District Project, strategically located in Nevada’s Walker Lane Trend, one of the world’s most productive and mining-friendly regions.
The project sits just 15 kilometers south of Kinross Gold’s (NYSE: KGC – market cap $30B+) 15-million-ounce Round Mountain Mine, sharing the same geologic formations and caldera complex!1
SRCRF’s 2025 Maiden Mineral Resource Estimate (MRE) marks the very first modern resource for the newly consolidated district.
The MRE outlines 740,000 ounces of inferred gold across 18.3 million tonnes grading 1.26 g/t gold — and importantly, it does not yet include results from the company’s ongoing 2025 drilling campaign!
CEO Zayn Kalyan describes the MRE as a “starting point” for building a multi-million-ounce resource in a district long known for its high-grade potential.
Complementing this is a historical resource estimate from several satellite deposits — Black Mammoth, April Fool, Hooligan, Keystone, and Jumbo — totaling 304,000 ounces grading 5.89 g/t gold, showcasing the remarkable grade profile across the property.2
In a powerful vote of confidence for Scorpio Gold, two of the biggest names in global mining finance — Ross Beaty and Eric Sprott — have stepped up as the soleprimary participants in an CAD$8 million private placement announced on August 29 and completed on September 3, 2025.
Beaty, a billionaire mining entrepreneur often called the “Broken Hill of Billionaires” for his string of major successes, has committed $5CAD$4.4 million, while legendary gold investor Eric Sprott — widely regarded as one of the most influential figures in precious metals — has committed CAD$3 million.
This level of backing from two of the world’s most respected mining investors is a rare and powerful
endorsement of Scorpio Gold’s vision and potential. It signals strong confidence in the company’s Manhattan
District Project.
Scorpio Gold intends to use the proceeds to accelerate exploration and development across the company’s
newly consolidated land package and to further advance its goal of defining a maiden resource exceeding
500,000 ounces of gold.
Scorpio Gold holds a 100% interest in the Manhattan District located in the Walker Lane Trend of Nevada, USA. Scorpio Gold's Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge Mine, with a 400 ton per day maximum capacity gravity mill, and four past-producing pits that were acquired from Kinross in 2021 (see March 25, 2021 news release).
The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 140,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights.
In September 2025, Scorpio Gold announced its Maiden Mineral Resource Estimate (MRE) for the 100%-owned Manhattan District in Nevada — a region with over a century of production history and exceptional geological potential. The Maiden MRE outlines 740,000 ounces of inferred gold across 18.3 million tonnes grading 1.26 g/t gold, focused on the Goldwedge and Manhattan Pit areas.
What’s especially notable is that this estimate does not yet include results from the company’s ongoing 2025 drilling program, meaning it represents a strong starting point with significant room for growth.
CEO Zayn Kalyan emphasized the strategic importance of this milestone:
In addition to the Maiden MRE, Scorpio Gold also reported a Historical MRE encompassing several satellite deposits — Black Mammoth, April Fool, Hooligan, Keystone, and Jumbo — containing 303,949 ounces of gold grading 5.89 g/t.2
These historical resources, while not yet classified as current under NI 43-101 standards, demonstrate the high-grade character of mineralization across the district.
Vice President of Exploration Harrison Pokrandt noted the discovery of a standout historical intercept:
“One of many examples from this process is uncovering the very high-grade interval in drill hole MH83-016, of 12.22 g/t over 70.1 metres, which sits in the Goldwedge target of the resource.”
Scorpio Gold's ongoing exploration aims to convert these historical zones into current, compliant resources — a process that could rapidly expand the company’s total ounces and valuation.
Located in Nye County, Nevada, the Manhattan District benefits from world-class infrastructure, mining-friendly regulations, and a long history of gold production.
Nevada is home to several of North America’s largest gold mines, including those operated by Barrick and Newmont.1
With its favorable logistics, strong grade profile, and 100% ownership of the Manhattan District, Scorpio Gold enjoys a rare combination of exploration upside and operational stability.
Scorpio Gold’s next steps include completing its Phase 2 drilling program, filing the full NI 43-101 technical report, and advancing toward a multi-million-ounce district resource.
As gold prices remain elevated and investor sentiment strengthens, the company is strategically positioned to leverage both macroeconomic tailwinds and geological opportunity.
Leading global banks are turning increasingly bullish on gold.
Major banks and analysts have raised gold price targets, with forecasts reaching as high as $5,000 by December 2026 (Yardeni Research) due to geopolitical uncertainty, inflation concerns, and central bank demand.
Scorpio Gold’s leadership includes a deep bench of technical, financial, and exploration talent.
This team’s combined experience provides SRCRF with the operational and technical expertise to advance Manhattan efficiently and strategically.
Gold’s historic breakout above $4,000 per ounce has reignited a full-fledged bull market in precious metals — and few companies are better positioned to capitalize than Scorpio Gold Corp. (OTCQB: SRCRF;TSXV:SGN).
With global banks forecasting gold prices as high as $5,000 by 2026, investors are zeroing in on high-potential junior explorers with large-scale assets in safe, mining-friendly jurisdictions.
Scorpio’s 100%-owned Manhattan District Project, located in Nevada’s prolific Walker Lane Trend, checks all the right boxes — scale, grade, infrastructure, and growth potential.
Scorpio’s clear objective: to build a multi-million-ounce resource within one of Nevada’s most proven gold belts, just 15 km south of Kinross Gold’s 15-million-ounce Round Mountain Mine!1
Adding to the excitement, Scorpio Gold recently secured CAD$8 million in strategic funding from two of the most influential figures in the mining world — Eric Sprott and Ross Beaty — who together took sole participation in the company’s August 2025 private placement. This rare endorsement from industry icons underscores the strong institutional belief in Scorpio’s vision, geology, and growth trajectory. With this capital, SRCRF is accelerating exploration, expanding its district-wide resource, and positioning itself as a leading gold discovery story in the U.S.
As the next phase of drilling, metallurgical testing, and resource expansion unfolds, Scorpio Gold stands out as one of the most compelling junior gold opportunities in North America.
Discover how Scorpio Gold is redefining the future of exploration in America’s premier mining district!
Qualified Person:
Thomas Poitras P. Geo, Chief Geologist of Scorpio Gold, a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), has approved the scientific and technical information contained in this report.
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