Scorpio Gold to Sell Nova Scotia Properties for $3.2 Million

Scorpio Gold Corporation (OTC Other: SRCRF; TSX-V: SGN) has entered into an agreement to sell the Company’s Caribou and Cochrane Hill properties in consideration for aggregate cash payments of $3.2 million dollars.  Pursuant to the agreement, the Company cash consideration should be as follows: $200,000 for each property due 30 days following the signing of the agreement; $400,000 for each property due 120 days following the signing of the agreement; and $1,000,000 for each property due on one year from the date of the signing of the agreement.

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