Scorpio Gold Corp. (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) announces drill results from five step-out holes of their Phase Two diamond drilling program at the Manhattan District Project in Nevada, USA.
Highlights Hole 26MN-070 returned: The Zanzibar Trend has now returned multiple high-grade intercepts across successive step-out holes , including: Vancouver, British Columbia-- - Scorpio Gold Corp. is pleased to announce results from five step-out holes of the Phase Two drill program at the Manhattan District Project , Nevada, USA: 26MN-069 and 26MN-072, see Figure 1.
The results are tabulated in Table 1 and discussed below. Scorpio Gold has drilled 84 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046 through 26MN-094, for a grand total of 24,312 m.
With the results herein, Scorpio Gold has reported assays on 75 of these , totalling 21,652 m, and assays are pending from 9 holes , totalling 2,660 m. The pending results will be reported as they become available.
"Holes 26MN-070 and 26MN-071 continue to extend the Zanzibar Trend beyond the current Inferred Resource Constraining Pit, with 26MN-071 returning 2.68 g/t gold over 11.34 metres from just 0.76 metres depth - essentially from surface. The near-surface nature of this mineralization is an important characteristic of the Zanzibar Trend that we expect to be meaningful as we evaluate the broader resource potential of this corridor.
As we step out along the Zanzibar Trend, we continue to be encouraged by the grade tenor of this system. Since we began drilling this corridor, we have returned intercepts including 49.62 metres grading 3.14 g/t gold in hole 25MN-044, 22.25 metres grading 2.09 g/t gold in hole 26MN-054, and 10.40 g/t gold over 5.67 metres - including 455.52 g/t gold over 0.49 metres - in hole 26MN-065.
The consistency of results across successive step-out holes gives us increasing confidence in the structural continuity of this trend. With approximately 300 metres of untested strike length still ahead along the Zanzibar Formation, and multiple growth fronts continuing to emerge across the Manhattan District, we believe we are still in the early stages of defining the full scale of what this district has to offer," said Harrison Pokrandt, VP Exploration for Scorpio Gold. Figure 1.
Surface Plan Map of drill results, with highlights noted. Map Inset area shown in Figure 3. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9779/298356_c689c8ef3404caf3_002full.jpg Drill holes 26MN-070 through 26MN-071 and 26MN-073 through 26MN-074 are 50 m step-outs, along the Zanzibar Trend, to the north of hole 26MN-068, see news release dated May 5, 2026. These drill holes tested new Zanzibar Trend mineralization along the Caldera margin, beyond the Inferred Resource Constraining Pit .
Drill hole 26MN-076 is a 50 m step-out, along the Zanzibar Trend, to the north of hole 25MN-044, see news release dated February 19, 2026, and to the north of hole 26MN-068, see news release dated May 5, 2026. This drill hole tested new Zanzibar Trend mineralization along the Caldera margin, beyond the IRCP, see Figures 5 and 6.
For further details see"Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada" with an effective date of June 4, 2025, on Scorpio Gold's website at https://wp-scorpiogold-2025.s3.ca-central-1.amazonaws.com/media/2025/10/SGN_Manhattan_Mineral_Resource_Estimate_-_Amended_43-101.pdf. Figure 2. Geology Surface Plan Map of Target Areas, with untested strike lengths through the Ordovician Zanzibar Formation associated mineralization noted. Map Inset area shown in Figure 3.
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9779/298356_c689c8ef3404caf3_003full.jpg Figure 3. Inset Surface Plan Map of Zanzibar Trend Target Area, with drill hole traces projected to surface and result highlights noted. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9779/298356_c689c8ef3404caf3_004full.jpg Table 1. Results from the current batch of drill holes.
Note: There is insufficient geological information to estimate a true width for the drill intercepts reported. Zanzibar Trend Results: 26MN-070: This drill hole tested the Zanzibar Trend associated mineralization, as it trends from the southeast of Goldwedge towards Mustang Hill. The drill hole contains one interval hosted in Ordovician Zanzibar Formation limestone, directly above the stratigraphic contact with Oligocene Round Rock Formation volcanic units .
The interval is 0.69 g/t gold over 23.23 m from 4.05 m, including 1.61 g/t gold over 8.38 m from 18.9 m. 26MN-071: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains two intervals hosted in Ordovician Zanzibar Formation limestone of 2.68 g/t gold over 11.34 m from 0.76 m , including 6.54 g/t gold over 3.41 m from 8.69 m ; and 0.47 g/t gold over 6.89 m from 20.08 m.
Below these significant intervals includes minor mineralization scattered throughout the drill hole from ~27.0 m to the Oligocene Round Rock Formation stratigraphic contact at 69.2 m. All Zanzibar Trend intervals noted represent new mineralization outside the current IRCP, see cross-section A to A' and cross-section B to B' . Figure 4. Drill hole 26MN-071, interval 7.78 m to 12.10 m, displaying Ordovician Zanzibar Formation limestones with oxidized quartz-calcite-adularia epithermal veins.
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9779/298356_c689c8ef3404caf3_005full.jpg Figure 5. Cross-section A-A', showing gold grades with reported intervals highlighted. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9779/298356_figure5.jpg Figure 6. Cross-section B-B', showing gold grades with reported intervals highlighted.
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9779/298356_figure6.jpg 26MN-073: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains one interval hosted in Ordovician Zanzibar Formation limestone of 0.97 g/t gold over 1.13 m from 0.55 m, directly above the Oligocene Round Rock Formation stratigraphic contact . 26MN-074: This drill hole also tested the Zanzibar Trend associated mineralization.
The drill hole contains one interval hosted in Ordovician Zanzibar Formation limestone of 0.41 g/t gold over 2.19 m from 1.22 m, directly above a fault zone of the Brougher Fault to the south of the Oligocene Round Rock Formation stratigraphic contact . 26MN-076: This drill hole also tested the Zanzibar Trend associated mineralization. The drill hole contains one interval hosted in Ordovician Zanzibar Formation limestone of 0.25 g/t gold over 15.74 m from 0 m .
Below this significant interval includes minor mineralization scattered throughout the drill hole from ~16.0 m to the Oligocene Round Rock Formation stratigraphic contact at 30.6 m . QA/QC HQ sized diamond drill core samples were cut in halves, then bagged and secured with security tags to ensure integrity during transportation to the Reno, NV, Paragon Geochemical facility for preparation.
For quality assurance , unmarked coarse blanks, unmarked certified reference materials, and requested laboratory duplicates were inserted into the sampling sequence. QA samples were systematically inserted into each batch of samples, amounting to approximately 10% of the run of samples. Samples were analyzed for gold using method PA-AU02 , a two-cycle PhotonAssayTM analysis of crushed material . All Paragon Geochemical facilities comply with ISO 17025:2017.
About the Manhattan District Manhattan, located in the Walker Lane Trend of Nevada, USA, is road accessible and lies approximately 20 kilometers south of the operating Round Mountain Gold Mine , which has produced more than 15 million ounces of gold. For the first time, the Company has consolidated Manhattan's past-producing mines under a single entity that holds valuable permitting and water rights.
Historically, Manhattan has produced approximately 700,000 ounces of gold from high-grade placer and lode operations dating from the late 1890s through to the mid-2000s. ¹ The maiden mineral resource estimate covering the Goldwedge and Manhattan Pit areas of Manhattan is comprised of 18,343,000 tonnes grading 1.26 g/t gold for a total of 740,000 oz contained gold in the inferred category.
² A historical mineral resource estimate covers the Black Mammoth, April Fool, Hooligan, Keystone, and Jumbo areas of Manhattan and comprises 1,652,325 tonnes grading 5.89 g/t gold for a total of 303,949 oz contained gold. ³ The deposit is interpreted as a low-sulfidation, epithermal, gold-rich system situated adjacent to the Tertiary-aged Manhattan caldera in the Southern Toquima Range of Nevada.
A"Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects has not done sufficient work to make the Historical MRE current, and the Company is not treating the Historical MRE as current. Notes The Company considers the Historical MRE relevant as it demonstrates the presence of significant gold mineralization across multiple zones within Manhattan; however, its reliability is uncertain because it was prepared prior to the adoption of the current CIM Definition Standards and current QA/QC practices.
The Historical MRE provides limited disclosure of assumptions, parameters, estimation methods, cutoff grades, and QA/QC protocols, and therefore these cannot be fully verified by the Company. The categories used in the historical estimate predate, and are not directly comparable to, current CIM Definition Standards, and the Company is not treating the Historical MRE as a current Mineral Resource Estimate.
To upgrade and verify the Historical MRE in order to make it a current Mineral Resource Estimate, the Company would be required to undertake confirmatory drilling, modern QA/QC sampling, validation and digitization of historical datasets and updated geological modeling followed by the preparation of a new Mineral Resource Estimate in accordance with CIM Definition Standards and NI 43-101. The Company encourages readers to exercise appropriate caution when evaluating the Historical MRE.
All scientific and technical information relating to Manhattan pertaining to the Historical MRE contained in this news release is derived from the Technical Report dated May 1997 titled"Exploration and Pre-Production Mine Development, Manhattan District Project, Nye County" prepared by New Concept Mining, Inc. The information contained herein in respect of the Historical MRE is subject to all the assumptions, qualifications and procedures set out in the Historical Technical Report and reference should be made to the full text of the Historical Technical Report. Qualified Person The scientific and technical information in this news release has been reviewed, verified and approved by Thomas Poitras, P. Geo.
, Chief Geologist of Scorpio Gold, a"Qualified Person", as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Verification included review of laboratory certificates, review of field logs and chain-of-custody records, inspection of blank/standard/duplicate performance, and review of collar and down-hole survey data. No limitations or failures to verify were identified. About Scorpio Gold Corp. 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 . 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION Zayn Kalyan, Chief Executive Officer and Director Tel: -252-2672 Email: zayn@scorpiogold.com Investor Relations Contact: Kin Communications Inc. Tel: 684-6730 Email: SGN@kincommunications.com Connect with Scorpio Gold: Email | Website | Facebook | LinkedIn | X | YouTube To register for investor updates please visit: scorpiogold.com Forward-Looking Statements This news release contains statements that constitute"forward-looking statements" or"forward-looking information" within the meaning of applicable securities laws .
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words"expects,""plans,""anticipates,""believes,""intends,""estimates,""projects,""potential" and similar expressions, or that events or conditions"will,""would,""may,""could" or"should" occur.
Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management as of the date of this news release. Forward-looking statements in this news release include, among others, statements relating to: the timing, scope and interpretation of assay results; potential for resource growth and discovery; the potential continuity, extent, grade and characteristics of mineralization along the Reliance Trend, Gap Zone, Zanzibar Trend and Mustang Hill; the intended follow-up exploration activities and timing thereof; the Company's exploration plans and objectives; expected future drilling programmes; anticipated timing of future disclosures and announcements; and other statements that are not historical facts.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including: that the Company will be able to obtain sufficient financing to complete planned exploration activities; that the Company will be able to obtain necessary permits and regulatory approvals in a timely manner; that exploration results will be consistent with management's expectations; that general business and economic conditions will not change in a materially adverse manner; that equipment and qualified personnel will be available when required; and that the Company's interpretations of geological data are accurate.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations, which may not be available when needed or on acceptable terms and conditions; the inherent risks involved in the exploration and development of mineral properties, including uncertainties related to the interpretation of drill results and other geological data; fluctuations in commodity prices; compliance with extensive government regulation and changes in domestic and foreign laws and regulations that could adversely affect the Company's business and results of operations; uncertainties related to obtaining necessary permits and regulatory approvals; risks related to the Company's ability to retain key personnel; environmental risks and hazards; title matters and surface rights issues; competition in the mining industry; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; and other risks and uncertainties disclosed in the Company's public filings.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298356 Source: Scorpio Gold Corp © 2026 Newsfile Corp.Vergessen Sie Gold, Silber und Öl: Nächste Megarallye startet! Die Märkte feiern neue Rekorde – doch im Hintergrund braut sich eine Entwicklung zusammen, die alles verändern könnte. Die anhaltende Sperrung der Straße von Hormus sorgt laut IEA für eine der größten Energiekrisen aller Zeiten. Gleichzeitig schießen die Preise für Düngemittel und Agrarrohstoffe bereits nach oben.
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Manhattan District Project Zanzibar Trend High-Grade Intercepts Step-Out Holes Drill Holes Diamond Drilling Program Phase Two Mineral Resource Estimate NI 43-101 Technical Report Caldera Margin Zanzibar Formation
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