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.

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