Scorpio Gold Corporation (Company) announced that, further to its press releases dated May 25, 2023, August 16, 2023, November 8, 2023 and February 14, 2024, it has completed the acquisition of all the issued and outstanding shares of Altus Gold Corp. (Altus Gold) by way of a three-cornered amalgamation (Transaction) in which the company's wholly- owned subsidiary, 1455812 B.C. Ltd. (Subco) amalgamated with Altus Gold to form the entity Scorpio Gold BC Holding Corp. (Amalco).

In connection with the Transaction, Peter Hawley resigned from the board of directors of the company, and Zayn Kalyan and Michael Townsend, formerly directors of Altus Gold, have been appointed to the board of directors of the Company. Chris Zerga, the former President and Chief Executive Officer of the Company, has been appointed as the Company's Chief Operating Officer.