Scorpio Gold sets quarterly production record at Mineral Ridge

Scorpio Gold {TSX.V: SGN} sets a Quarterly Production Record at their Mineral Ridge Operation, Nevada.

With production of 11,952 ounces of gold in the first quarter, Scorpio Gold exceeded the first quarter 2014 by some 16%. Silver production increased by some 23% over the same period.


Once again Scorpio Gold bring out positive news, but the continual positive newsflow is sadly not being recognised in a harsh market.

In better times, in production, with low costs, in a good jurisdiction, with an experienced management team, and this stock would be adding shareholder value, but in the current climate it is one to follow until gold starts to rise.


News Release


Vancouver, April 23, 2015 – Scorpio Gold Corporation {TSX-V: SGN} announces its operating results for the first quarter (“Q1”) of 2015 at its 70% owned Mineral Ridge project, located in Nevada.

Gold production in Q1 2015 totalled 11,952 ounces, representing a 16% increase over Q1 2014 and a new quarterly production record for the Mineral Ridge operation. Silver production totalled 6,319 ounces, representing a 23% increase over Q1 2014 and also a record high for Mineral Ridge.

Peter J. Hawley, CEO, reports, “We are very pleased to report a new quarterly production record at Mineral Ridge. While we are currently cycling through lower grade material in the Mary pit, our gold production continues to be aided by the drawdown of ounces from the leach pad inventory and by ongoing efforts to re-slope the periphery of the leach pad to bring previously un-leached material under leach. This is a strong start to the year and puts Scorpio Gold in a very good position to meet our 2015 production forecast of 40,000 to 45,000 ounces of gold.”

In 2014, batch processing of Mineral Ridge ore was initially undertaken at the Company’s 100% owned Goldwedge mill facility on a test basis to optimize the milling circuit for the recovery of coarse gold. Scorpio Gold continued to process high-grade ore from Mineral Ridge at Goldwedge in Q1 2015 in order to globally increase the gold recovery with the processing of 1,392 tonnes of Mineral Ridge ore grading on average 8.87 g/t gold. The ounces processed at Goldwedge during Q1 2015 are not included in the total ounces produced for the first quarter as they were still considered in-process as of March 31, 2015. Accordingly, they will be accounted for in the second quarter production results.

Production in 2015 is scheduled from the Mary and Mary LC pits, and from the Wedge, Bluelite, Solberry and Brodie satellite pits. Mining at the Bluelite and Solberry pits is scheduled to commence in Q2 2015. The Bluelite and Solberry deposits have not been subject to any prior mining campaigns, hence their high-grade core zones are preserved and expected to positively impact the grade of ore being processed at both the Mineral Ridge and Goldwedge mill facility.

For full production results

(1) A weighted average metallurgical recovery factor has been applied to the estimated contained ounces crushed and placed on the leach pad, based on the pit from which the ore was mined.


About Scorpio Gold

Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Waterton Global Value L.P. (30%), and Scorpio Gold is currently entitled to receive 80% of cash flow generated. Mineral Ridge is 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 preparing its 2015 exploration program for the Goldwedge property and is currently processing high-grade Mineral Ridge ore at the Goldwedge plant, which is permitted to process 400 tons per day.

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.


Peter J. Hawley,

For further information contact:
Steve Roebuck, President
Tel: (819) 825-7618