Vancouver, April 26, 2022 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) elected to settle its final semi-annual interest payment on its US$7,015,000 secured subordinated convertible debentures (the “Debentures”) by the issue of common shares at $0.0850 per share as announced on April 21, 2022.  Having received the approval of the TSX Venture Exchange, the Company today issued a total of 5,194,976 common shares to settle its final semi-annual interest payment of $441,573 (US$349,789).

As announced on March 10, 2022, the US$7,015,000 Debentures matured on April 26, 2022, and have been settled by the issuance of common shares of the Company at an issue price of US$0.08 per share for a total of 87,687,500 common shares.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Chris Zerga,
President and Chief Executive Officer

Website: www.scorpiogold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.