Scorpio Gold receives US$750,000 payment, advances Nevada drilling program

Scorpio Gold Corp. confirmed on December 3, 2025 that it received US$750,000, representing 50 percent of an escrowed US$1.5 million holdback from the sale of Mineral Ridge Gold, LLC. The payment was the first deferred escrow release outlined in the sale agreement and was credited to the company as it advances a planned 50,000 metre drilling campaign at the Manhattan District in Nevada.

The Manhattan District sits within the Walker Lane trend and is approximately 20 kilometers south of Round Mountain. In its announcement Scorpio summarized Manhattan geology and history, noting past production and existing resource estimates as the rationale for the expanded exploration push. The company also disclosed a corporate secretary transition that became effective December 3, 2025, and outlined expectations for further escrow and sale related payments under the transaction terms.

For Nye County residents the announcement matters in several ways. The US$750,000 payment bolsters Scorpio Golds available capital at a time when the firm is mobilizing a large scale drill program that could sustain local contractor work and demand for logistical support. A 50,000 metre program is capital intensive and typically generates needs for local services ranging from drilling crews to transportation and accommodations, even as permit and regulatory processes proceed. The Manhattan Districts proximity to existing mining centers in the county ties exploration outcomes to broader economic activity in the region.

From a market perspective the escrow release reduces contingent liabilities on Scorpio Golds balance sheet and provides nearer term liquidity to fund exploration. The company stated it expects further escrow releases and sale payments in accordance with the agreement, a sequence that will affect project financing timelines and the pace of field work. Longer term, successful expansion of resources in the Manhattan District could influence investment flows into Nevada exploration and contribute to Nye Countys mining footprint.

Regulatory review, permitting and community consultation remain part of the path forward, and local stakeholders will be watching how the drill program unfolds and what employment and service opportunities it generates. The US$750,000 release on December 3, 2025 is a tangible first step in that process.