Scorpio Gold Drilling Intersects 24.39 Metres Grading 0.90 g/t Gold on Brodie Northwest Trend, Mineral Ridge Project

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - May 24, 2012) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE: SGN) announces initial results from its 2012 drilling program on the Brodie Northwest Zone, located 975 metres (3,200 feet) southwest of the current mining in the Drinkwater pit at the 70% owned Mineral Ridge project, Nevada.

The 2012 drilling program has initially targeted the Brodie Northwest extension to determine the extent of the mineralized corridor that trends northwest toward the Bluelite Zone. Previous operators thought the Bluelite and Brodie zones were two separate mineralized bodies; however, results of the fall 2011 and the initial 2012 drilling clearly demonstrate they are one in the same deposit, connected by the Brodie Northwest zone.

Results from the first eight holes of the Company's 2012 drilling program on the Brodie Northwest Zone are presented below. For previously released results on the Brodie and Brodie Northwest zones, please refer to the Company's news releases of October 18, 2011 and November 15, 2011 respectively. Infill and step-out exploration drilling continues at Mineral Ridge; results will be released as received and compiled.


Table 1. Brodie Northwest Zone - Significant Drill Results

HoleNo. From(ft) To(ft) Width(ft) From(m) To(m) Width(m) Gold(OPT) Gold(g/t)
MR12354 	460 	470 	10 	140.24 	143.29 	3.05 	0.017 	0.58
	530 	535 	5 	161.59 	163.11 	1.52 	0.016 	0.55
MR12355 	205 	210 	5 	62.50 	64.02 	1.52 	0.037 	1.27
	215 	230 	15 	65.55 	70.12 	4.57 	0.010 	0.35
	250 	255 	5 	76.22 	77.74 	1.52 	0.029 	0.99
	295 	300 	5 	89.94 	91.46 	1.52 	0.016 	0.55
	310 	315 	5 	94.51 	96.04 	1.52 	0.023 	0.79
	345 	350 	5 	105.18 	106.71 	1.52 	0.029 	0.99
MR12356 	375 	400 	25 	114.33 	121.95 	7.62 	0.036 	1.23
	420 	440 	20 	128.05 	134.15 	6.10 	0.021 	0.72
MR12357 	305 	310 	5 	92.99 	94.51 	1.52 	0.016 	0.55
	400 	410 	10 	121.95 	125.00 	3.05 	0.035 	1.20
MR12358 	305 	310 	5 	92.99 	94.51 	1.52 	0.036 	1.23
	380 	460 	80 	115.85 	140.24 	24.39 	0.026 	0.90
MR12359 	305 	315 	10 	92.99 	96.04 	3.05 	0.107 	3.65
	465 	485 	20 	141.77 	147.87 	6.10 	0.024 	0.82
	510 	520 	10 	155.49 	158.54 	3.05 	0.022 	0.74
MR12360 	375 	380 	5 	114.33 	115.85 	1.52 	0.020 	0.69
	435 	440 	5 	132.62 	134.15 	1.52 	0.021 	0.72
MR12361 	445 	450 	5 	135.67 	137.20 	1.52 	0.022 	0.75
	485 	490 	5 	147.87 	149.39 	1.52 	0.033 	1.13

A drill hole location map for the Brodie, Bluelite, Solberry, Oromonte and Wedge B zones is available at: www.scorpiogold.com/i/maps/mr/MR_DHplanW.jpg.

All holes presented in the above table were completed by reverse circulation (RC) drilling. True width is estimated at ~ 90% of 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/i/pdf/reports/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.

Scorpio Gold's President & CEO, Peter J. Hawley, PGeo, is a Qualified Person for the Mineral Ridge project and has reviewed and approved 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 risks such as delays related to completion of economic studies and those risk factors outlined in the Company's Management Discussion and Analysis 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
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com

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