Scorpio Gold Amends Debt Terms

Scorpio Gold Corp. (OTC Other: SRCRF; TSX-V: SGN) has amended the terms of its US$8 milliion outstanding debt owed to Waterton Global Value, L.P. to be payable in 12 equal installments commencing on the last business day of October 2011 and ending on the last business day of September 2012.  Waterton has the option to receive payment in either cash or in equivalent gold bullion ounces. 

Separately, the Company has entered into a life of mine gold and silver supply agreement (the “Supply Agreement”) with Waterton, pursuant to which the Company will sell all gold and silver produced at the Mineral Ridge property to Waterton, as and when it makes such sales.

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