Scorpio Gold's Mary LC Zone Drilling Intersects 7.62 Metres Grading 2.71 g/t Gold on the Mineral Ridge Project

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Aug. 27, 2012) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) announces additional drill results from its 2012 drilling program on the Mary LC Zone, located adjacent to the Mary pit which is currently undergoing pre-stripping in advance of commencing full-scale open pit production at the 70% owned Mineral Ridge project, Nevada. Production from the Mary pit will add to and supplement current production from the Drinkwater pit.

Scorpio Gold's exploration work to date has determined that the Drinkwater, Mary and Mary LC zones represent one continuous zone of mineralization, with the LC area being the least defined to date. The results presented in Table 1 are primarily step out holes west of the historical outline of the Mary LC Zone. A drill hole plan is available at www.scorpiogold.com/i/maps/mr/MaryLC_DHplan.jpg.

Table 1. Mary LC Zone - Significant Drill Results

Hole     From      To     Width     From     To     Width     Gold    Gold
No.      (ft)     (ft)     (ft)      (m)     (m)      (m)     (OPT)    (g/t)
MR12426 	210 	225 	15 	64.02 	68.60 	4.57 	0.136 	4.66
MR12427 	205 	215 	10 	62.50 	65.55 	3.05 	0.022 	0.75
	230 	240 	10 	70.12 	73.17 	3.05 	0.022 	0.75
MR12428 	85 	95 	10 	25.91 	28.96 	3.05 	0.018 	0.60
MR12429 	60 	65 	5 	18.29 	19.82 	1.52 	0.014 	0.48
	140 	145 	5 	42.68 	44.21 	1.52 	0.010 	0.34
MR12430 	35 	45 	10 	10.67 	13.72 	3.05 	0.094 	3.22
	60 	65 	5 	18.29 	19.82 	1.52 	0.014 	0.48
	80 	85 	5 	24.39 	25.91 	1.52 	0.010 	0.34
MR12431 	40 	50 	10 	12.20 	15.24 	3.05 	0.015 	0.51
MR12432 	100 	125 	25 	30.49 	38.11 	7.62 	0.079 	2.71
MR12433 	70 	90 	20 	21.34 	27.44 	6.10 	0.058 	1.97
MR12434 	80 	90 	10 	24.39 	27.44 	3.05 	0.026 	0.87
	105 	115 	10 	32.01 	35.06 	3.05 	0.017 	0.58
MR12435 	95 	105 	10 	28.96 	32.01 	3.05 	0.012 	0.41
	115 	120 	5 	35.06 	36.59 	1.52 	0.013 	0.45

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, development and exploitation 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 exploration programs 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

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

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