Scorpio Gold and Golden Phoenix Begin Exploration Drilling on Coyote Target at Mineral Ridge

Scorpio Gold (OTC Other: SRCRF; TSX-V: SGN) has commenced exploration drilling on the Coyote target, located approximately four kilometres southwest of the Mineral Ridge operation and on strike with the Brodie mineralized body that lies adjacent to the heap leach pad. The Coyote target is one of three priority drill exploration targets outlined by the Company.  Golden Phoenix (OTCBB: GPXM) currently maintains a thirty percent (30%) interest in the Mineral Ridge Gold Project via its membership interest in Mineral Ridge Gold LLC; the joint venture entity that owns and operates the Mineral Ridge property with Scorpio Gold.

Exploration in the Coyote target area has outlined a one-kilometer long, north-northeast trending structural corridor that ranges from 200 meters in width in the south to 300 meters in the north and is open in all directions. Structural features of the corridor are traceable on surface a further three kilometers northeast to the Mineral Ridge operation; however, detailed surface prospecting and sampling has yet to be conducted over this extent due to the rugged terrain.

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