Scorpio Gold Announces Results of AGM

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2012) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN.V - News) is pleased to announce that all proposed resolutions were passed at the Company's Annual General and Special Meeting of Shareholders held on June 1, 2012. The number of directors was set at five and shareholders approved the re-election of Peter J. Hawley, Brian Lock, Luc Pelchat, David W. Smalley and Andrew Lee Smith as directors. Deloitte & Touche LLP, Chartered Accountants, have been appointed as auditors of the Company for the ensuing year and the directors have been authorized to fix their remuneration. Also passed was an amendment to the Company's stock option plan to allow a 45 day extension to the expiry date of stock options that would otherwise expire during a black-out period. The Board of Directors appointed the officers for the ensuing year: Peter J. Hawley - President and Chief Executive Officer, Gilbert Comtois - Chief Financial Officer and Janet Horbulyk - Corporate Secretary.

Management and the Board would like to thank Scorpio Gold's shareholders for their continued support.

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

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.

Contacts

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

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