Scorpio Gold - Shifts Focus to Manhattan District, Nevada: US$7.5M Asset Sale, Upsized Drill Program

In this KE Report company update, Scorpio Gold CEO Zayn Kalyan outlines the company’s strategic transformation: divesting the Mineral Ridge Project for US$7.5 million and ramping up exploration at the Manhattan District in Nevada. Key Interview Highlights: Sale of Mineral Ridge Project: Total consideration of US$7.5M, paid in stages: $700K deposit (due immediately) $4.3M at closing (expected by August 25) $2.5M in deferred payments over 12 months Decision driven by high holding costs and limited near-term value without significant mill investment Drilling Focus at Manhattan: Phase 1: 6,300 meters nearly complete New goal: 15,000 meters by year-end Second rig arriving in September, potential for a third Focused on the “gap zone” between Goldwedge and West Pit Targeting 200,000–300,000 ounces from this core zone Catalysts on Deck: Initial NI 43-101 Resource Estimate coming soon Drill results imminent Targeting >2 million ounces within 12–18 months Resource will incorporate 140,000 meters of historic drilling across 1,800+ holes Team Strengthening: Leo Hathaway, of Lumina Group fame, joins as Director and on the technical team Helping guide technical strategy and long-term development Click here to visit the Scorpio Gold website to learn more about the Company.