Scorpio Gold Intersects 10.67 Metres Grading 3.65 g/t Gold on Mary Zone, Mineral Ridge Project

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Jan. 5, 2012) - Scorpio Gold Corporation (“Scorpio Gold“ or the “Company“) (TSX VENTURE: SGN) announces initial drill results from the Mary Zone, located southwest of the current mining in the Drinkwater pit at the 70% owned Mineral Ridge project, Nevada.

Peter J. Hawley, President and CEO reports, “In November 2011, the Company commenced pre-stripping of the Mary Zone in preparation for commencing open pit mining. The Mary Zone is located immediately southwest of the Drinkwater Pit where mining is currently in progress. A 58 hole drill program to define the extent of mineralization for final pit design is underway. Results to date have increased the width of the Mary Zone and also confirm that gold mineralization extends southwest from the Mary Zone to the adjacent Mary LC Zone, encompassing a strike length of 780 metres. Mining of the Mary Zone is expected to commence later in January 2012, adding to current production from the Drinkwater Pit and increasing the overall production at Mineral Ridge.“


Table 1. Mary Zone - Significant Drill Results

Hole No.  From (ft)  To (ft)  Width (ft)  From (m)  To (m)  Width (m)  Gold (OPT)  Gold (g/t)
MR11275 	40 		50 		10 		12.20 		15.24 		3.05 		0.024 		0.81 	
MR11276 	10 		15 		5 		3.05 		4.57 		1.52 		0.020 		0.69 	
	140 		155 		15 		42.68 		47.26 		4.57 		0.245 		8.41 	
	165 		175 		10 		50.30 		53.35 		3.05 		0.069 		2.37 	
MR11277 	130 		135 		5 		39.63 		41.16 		1.52 		0.022 		0.75 	
MR11278 	25 		30 		5 		7.62 		9.15 		1.52 		0.016 		0.55 	
	100 		120 		20 		30.49 		36.59 		6.10 		0.068 		2.31 	
MR11279 	10 		45 		35 		3.05 		13.72 		10.67 		0.105 		3.59 	
MR11281 	15 		20 		5 		4.57 		6.10 		1.52 		0.018 		0.62 	
	140 		145 		5 		42.68 		44.21 		1.52 		0.043 		1.47 	
MR11282 	40 		55 		15 		12.20 		16.77 		4.57 		0.381 		13.06 	
	115 		120 		5 		35.06 		36.59 		1.52 		0.024 		0.82 	
	140 		145 		5 		42.68 		44.21 		1.52 		0.045 		1.54 	
MR11285 	125 		130 		5 		38.11 		39.63 		1.52 		0.062 		2.13 	
MR11287 	100 		115 		15 		30.49 		35.06 		4.57 		0.111 		3.79 	
MR11291 	55 		65 		10 		16.77 		19.82 		3.05 		0.136 		4.66 	
MR11293 	165 		200 		35 		50.30 		60.98 		10.67 		0.107 		3.65 	
MR11294 	15 		20 		5 		4.57 		6.10 		1.52 		0.015 		0.51 	
MR11295 	0 		10 		10 		0.00 		3.05 		3.05 		0.015 		0.51 	
MR11298 	90 		95 		5 		27.44 		28.96 		1.52 		0.021 		0.72 	
	100 		115 		15 		30.49 		35.06 		4.57 		0.066 		2.27 	

A longitudinal section of current mining and exploration in the Drinkwater Pit and Mary Zone is available at: www.scorpiogold.com/i/maps/mr/DW-Mary_LS.jpg.

All holes presented in the above tables were completed by reverse circulation (RC) drilling. True width is estimated at ~90% downhole width. Analytical results were performed by American Assay Laboratory Inc. (AAL) in Sparks, Nevada, USA. AAL does not have ISO/IEC 17025 accreditation but implements a quality management system following ISO/IEC 17025 standards and maintains a paperwork trail for ISO/IEC 17025 accreditation. AAL participates in a number of testing and certification programs, details of which are presented in the Company's quality assurance and quality control (QA/QC) program for the Mineral Ridge project at: www.scorpiogold.com/Documents/QAQC-MR.pdf. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory.

President & CEO, Peter J. Hawley, PGeo, is the Qualified Person for the Mineral Ridge project and has reviewed the content of this release. For additional information please see the Company's website at www.scorpiogold.com.


ON BEHALF OF THE BOARD SCORPIO GOLD CORPORATION

Peter J. Hawley
President & CEO



The Company relies on litigation protection for “forward-looking“ statements. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan“, “expect“, “project“, “intend“, “believe“, “anticipate“, “estimate“, “suggest“, “indicate“ and other similar words or statements that certain events or conditions “may“ or “will“ occur, and include, without limitation, statements regarding the Company's plans with respect to the exploration and development of its Mineral Ridge project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including those risk factors outlined in the Company's Management Discussion and Analysis for the year ended December 31, 2010 as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

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.



Contact Information

Scorpio Gold Corporation
Peter J. Hawley
President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com

Investor Relations:
Torrey Hills Capital
Jim Macdonald
(858) 456-7300
jm@sdthc.com