Vancouver, British Columbia — January 15, 2026 — Leads & Copy — Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) has entered into a property option agreement to acquire a 100% interest in the Betty East Property, located in Nye County, Nevada.
The agreement, made with an arm’s length third party, involves Scorpio Gold’s wholly-owned subsidiary as the Optionee.
The Betty East Property consists of thirty-two unpatented lode mining claims. Historically, the Property has seen limited exploration. Nevada Goldfields Inc. conducted shallow reverse-circulation drilling and trenching in the early 1990s, which identified near-surface gold mineralization at the Knolls area and outlined additional interpreted near-surface and deeper conceptual targets.
Available historic data includes drill logs and results from fifteen shallow RC holes, trench mapping, detailed geological sections, and a historical geological report, which together suggest potential for both shallow oxide mineralization and a larger, structurally controlled mineralized system at depth. More recent historic work on the at the Knolls, by Sierra Grande Minerals Inc., has been limited to a sample soil geochemical survey of approximately 290 samples.
Initially,140 samples were taken in the south-central part of the claim block on a 650 m (north-south) and 325 m (east-west) grid of 50 m east-west spaced lines with samples taken between 25 m and 50 m along the lines. The results demonstrate a pronounced, north-south epithermal Au-As-(Ag-Hg) signature with locally very high Au soil results, including 6.27, 5.06, 1.19 and 0.69 g/t Au. This lies within an envelope of anomalous Au and As and extends to a background of <20 ppb gold.
Following this, the same company completed a northeast-southwest elongate grid of 150 samples taken on a nominal 100 m spacing, covering 1,300 m by 800 m. Sampled immediately to the northeast of The Knolls, this grid outlined a broad, east-northeast trending zone that is highly anomalous in As, Hg, Ag, Sb and Mo, along with locally elevated Au and consistently elevated Zn, Cu and W. The new, east-northeast trend is >1.5 km long, up to 1 km wide, and displays elements of both epithermal and intrusive-related signatures. All historic soil samples were analysed for gold by fire assay and multi-element ICP at ALS’s laboratory in Reno.
The Property is interpreted to be geologically contiguous with the southern portion of the Manhattan District, with mineralization occurring within favourable lower-plate sedimentary units associated with regional structural controls. Scorpio Gold has also staked additional claims between the Property and its existing Manhattan District land position, consolidating continuous claim coverage and enhancing the Company’s ability to systematically explore and test mineralized trends across the broader district.
According to Zayn Kalyan, CEO of Scorpio Gold, the Betty East option expands the company’s footprint at the southern end of the Manhattan District. Scorpio Gold has staked claims connecting Betty East to its existing claim block, creating continuous land tenure across a geological corridor. Kalyan said this consolidation allows the company to evaluate mineralized trends and integrate historical work with modern exploration methods.
Under the agreement, Scorpio Gold, through its subsidiary, can acquire 100% of the Property by making staged cash and share payments totaling $900,000 USD and 950,000 common shares and incurring $1,000,000 USD in exploration expenditures over five years. Upon exercising the option, the Optionor will receive a 2% net smelter returns royalty, with Scorpio Gold retaining the right to buy back one-half (1%) of the NSR Royalty for the value of 500 ounces of .999 fine gold.
The agreement is subject to TSXV approval.
Leo Hathaway, P. Geo., Chief Geologist of Scorpio Gold, has reviewed and approved the scientific and technical information in the release.
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. 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.
Zayn Kalyan, Chief Executive Officer and Director
Tel: (604)-252-2672
Email: zayn@scorpiogold.com
Investor Relations Contact:
Kin Communications Inc.
Tel: (604) 684-6730
Email: SGN@kincommunications.com
Source: Scorpio Gold Corporation
