VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 4, 2012) – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX VENTURE:SGN) is pleased to announce the appointment of Mr. Steve Roebuck, P.Geo., as President of Scorpio Gold effective September 4, 2012. Peter Hawley will remain as CEO and will become Executive Chairman of the Company.

Mr. Roebuck holds a Bachelor of Science in Geology from Concordia University, Montreal, Quebec and is a registered Professional Geoscientist with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG).

Peter Hawley, CEO comments, “With Steve’s extensive hands-on experience in both underground and open pit mining, his first mandate will be communicating the strong progress the Company is making in ramping up gold production at Mineral Ridge, and formulating the overall growth strategy as we continue to build Scorpio Gold as a successful explorer and producer.”

Mr. Roebuck began his career in 1995 with Royal Oak Mines Inc. working as a geologist at the Giant and Colomac gold mines in the Northwest Territories and Matachewan gold mine in Ontario. In 2000 he joined BHP Billiton Diamonds Inc. as a production geologist and was later promoted to Production Engineer at the Ekati Diamond mine, Northwest Territories. From 2005 to 2007 he was Vice President of Exploration for Forest Gate Resources Inc., exploring diamond properties in Quebec and Saskatchewan. Steve joined Scorpio Gold in 2007 while it was a private company as Vice President of Development and was instrumental in the Company’s creation and property portfolio. From 2008 until present, Steve was Vice President of Exploration for Advance Explorations Inc., overseeing the feasibility study team for the Roche Bay Iron Ore project in Nunavut. In 2009 he led the team in the discovery of the +500 million tonne Tuktu banded iron deposit and most recently the high grade (+69% Fe) specular hematite discovery.

The Company has granted Mr. Roebuck stock options to purchase up to 100,000 common shares, pursuant to the Company’s stock option plan, at an exercise price of $0.64 per share based on the closing market share price on August 31, 2012.

Scorpio Gold’s CEO, Peter J. Hawley, P.Geo., 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, 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 increasing production and furthering development 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 related to increasing production at an operating mine 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.