Scorpio Gold Retains Market Making Services

VANCOUVER, April 30, 2021 - Scorpio Gold Corp. ("Scorpio Gold" or the "Company") (TSXV:SGN) has, subject to regulatory approval, retained Independent Trading Group (ITG) Inc. ("ITG") to provide market-making service and to aid in maintaining an orderly trading market for the common shares of the Company effective May 1, 2021.

The market-making service will be undertaken by ITG, a registered broker in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, Scorpio Gold has agreed to pay ITG $5,000 per month. Scorpio Gold and ITG act at arm's length, and ITG has no present interest, directly or indirectly, in Scorpio Gold or its securities. There are no performance factors contained in the agreement between ITG and the Company and ITG will not receive any shares or options from the Company as compensation for services it will render.

About Independent Trading Group (ITG) Inc.

Independent Trading Group specializes in market maintenance services and has been providing its market maintenance services to companies ranging from TSXV listed companies to certain of Canada's largest publicly traded companies for over 20 years. Independent Trading Group is a member of the Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF), and is a member of all Canadian Stock Exchanges and Alternative Trading Systems. For further information on ITG, please contact (416) 583-5987 or info@itg84.com.

ON BEHALF OF THE BOARD

Scorpio Gold Corp.

Brian Lock,
Chief Executive Officer

Brian Lock
Tel: (604) 889-2543
Email: block@scorpiogold.com

Anthony Simone
Tel: (416) 881-5154
Email: ir@scorpiogold.com
Website: www.scorpiogold.com

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.

SOURCE: Scorpio Gold Corp.