Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) has announced a marketed public offering of up to 32,000,000 common shares at $0.25 per share, targeting gross proceeds of up to $8 million.

Velocity Trade Capital Ltd. will act as lead agent and sole bookrunner for the offering, on a "best efforts" basis. The company has also granted agents an option to purchase up to an additional 4,800,000 shares within 30 days of closing, for market stabilization and over-allotment purposes.

According to a press release, net proceeds will be directed toward exploration activities at the company's Manhattan Property in Nevada and for general corporate and working capital purposes.

The offering is expected to close on or about July 23, 2026, subject to regulatory approvals including acceptance by the TSX Venture Exchange. Shares will be offered by way of a prospectus supplement to the company's short form base shelf prospectus dated July 6, 2026, in all Canadian provinces except Quebec. Some shares may also be sold in the United States under applicable exemptions from registration requirements.

Scorpio Gold holds a 100% interest in the Manhattan District, an approximately 4,780-hectare property in Nevada's Walker Lane Trend, which includes the Goldwedge Mine and four past-producing pits acquired from Kinross in 2021.