Scorpio Gold Corporation

TSX VENTURE : SGN


Scorpio Gold Corporation

May 05, 2014 08:00 ET

Scorpio Gold to Participate at Upcoming European Gold Forum

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 5, 2014) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) announces that the Company's President, Steve Roebuck, will be presenting at the upcoming European Gold Forum on May 8, 2014 at 11:40 AM CET. A webcast of the presentation will be available at: www.europeangoldforum.org/egf14/company-webcast/SGN:CN.

The European Gold Forum is held at the Park Hyatt, Zurich, Switzerland from May 6-8, 2014. Further information about the event is available at: www.europeangoldforum.org/egf14/.

About Scorpio Gold

  • 2013 Gold Production: 39,160 ounces
  • 2013 Total Cash Cost: US$734 per ounce gold sold(1)
  • 2014 Gold Production Forecast: 40,000-45,000 ounces
  • 2014 Q1 Gold Production: 10,294 ounces

Scorpio Gold holds a 70% interest in the Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Waterton Global Value L.P. (30%), and is currently entitled to receive 80% of cash flow generated. Mineral Ridge is currently in production as a conventional open pit mining and heap leach operation. The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property and processing facility in Manhattan, Nevada. The Company is assessing its exploration plans for the Goldwedge property as well as the potential for toll milling at the Goldwedge plant, which is currently permitted for 400 tons per day.

(1) This is a non-IFRS measure; refer to Non-IFRS Measures section of the Company's Management Discussion & Analysis for a complete definition and reconciliation to the Company's financial statements.

Scorpio Gold's CEO, Peter J. Hawley, PGeo, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this release.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Peter J. Hawley, CEO

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.

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, development and exploitation of its Mineral Ridge project and forecasts of mining, gold production and operating costs. 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 related to mining, factors that can increase operating costs 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.

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