Vancouver, British Columbia — February 16, 2026 — Leads & Copy — Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) is realigning infrastructure at its Manhattan District project in Nevada to support a modern core processing, logging, and storage facility. This facility is designed to underpin an expanded exploration program.
Scorpio Gold is planning to construct a geological facility at the site to serve as the operational backbone for higher drill volumes, enhanced geological interpretation, and improved core management systems. The company is freeing space in a large, concrete-based metal structure by relocating a processing plant that is undersized and unsuitable for the large scale of any future mine operation envisioned by Scorpio at Manhattan.
The company aims to establish the infrastructure required to efficiently process, analyze, and securely store large volumes of drill core in support of a district-scale exploration strategy aimed at expanding the mineral resource base.
According to Zayn Kalyan, Chief Executive Officer of Scorpio Gold, the company is building the foundation required to scale exploration. With three drills currently operating across the district and plans to scale activity further, modern exploration at this level requires modern infrastructure. By investing in a centralized core processing and storage facility, Scorpio is positioning itself to handle higher drill volumes, improve geological modeling, and accelerate resource growth across the Manhattan District.
The planned facility is expected to include centralized core receiving and processing areas, dedicated logging and sampling stations, expanded secure core indoor storage capacity, integrated geological data capture systems, and a layout designed to support increased annual drill meterage.
Management believes that this infrastructure is essential to unlocking the full potential of what it views as a district-scale gold system within the Manhattan District.
The company’s subsidiary, Goldwedge LLC, has entered into an asset purchase agreement with Manhattan Metals Corp. for the sale of certain mineral processing infrastructure in Nye County, Nevada. The Processing Assets comprise a permitted mineral processing facility situated on patented mining claims in the historic Manhattan mining district of Nye County, Nevada, including a primary crusher, a conventional milling circuit with a nominal processing capacity of approximately 400 tons per day, a filter press-based tailings dewatering system, and associated fixed and mobile equipment, utilities and supporting infrastructure. The Processing Assets have not been in active operation in recent years and have been maintained in an idle state.
Scorpio is expected to receive C$750,000 through its Goldwedge subsidiary. Goldwedge has agreed to sell to Manhattan Metals all right, title and interest in and to the Processing Assets, including inventories of accessories, materials, parts, supplies and tools located at the facility; fixtures, improvements, plants and other structures situated on the property; fixed and mobile equipment; permits, licenses and other governmental approvals required to operate the Processing Assets; books, data and records related thereto; and associated intangible assets, including designs, drawings, know-how, processes, trade secrets, warranties and certain underlying agreements.
In connection with the transaction, Manhattan Metals has been granted the right to relocate the Processing Assets to a site of its choosing.
Closing of the sale transaction is scheduled for May 14, 2026, and remains subject to customary closing conditions, including approval of the TSX Venture Exchange.
The Company also announces that it has retained Mining Stock Education LLC to provide certain investor communication and marketing services. The services include online profile development, website advertising, production and distribution of video and interview content, podcast and webinar hosting, social media promotion, and related investor outreach activities. The Company will pay MSE US$10,000 per month for a twelve-month term commencing February 10, 2026, for total consideration of US$120,000.
Manhattan, located in the Walker Lane Trend of Nevada, is road accessible and lies approximately 20 kilometers south of the operating Round Mountain Gold Mine. 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.
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.
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. 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.
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.
Source: Scorpio Gold Corporation
