SCORPION COMPLETES FIRST RC DRILLING AT PHAROS PROJECT

35 Holes Drilled Over 1,691 Metres Across Key Prospects in WA’s Murchison Region

Scorpion Minerals Limited (ASX:SCN) has completed the initial phase of Reverse Circulation (RC) drilling at its Pharos Gold Project, located northwest of Cue in Western Australia’s Murchison region.

The program comprised 35 holes totalling 1,691 metres across three main targets: Cap Lamp (28 holes for 1,258m), Oliver’s Patch (6 holes for 390m), and Maguires North (1 hole for 43m).

This phase of drilling is designed to follow up on historic exploration across the Pharos project, with additional drilling planned at Terry’s North, Nick’s Find, Lantern, Candle, Candle North, and Salt Flat scheduled to begin in late August.

The Pharos Project, along with the adjacent Jungar Flats JV Project, covers approximately 1,600km² at the northern end of the underexplored Big Bell–Dalgaranga shear corridor. Scorpion has stated that this corridor remains largely untested by historical exploration.

Key historical intercepts from previous drilling include:

8m @ 10.99 g/t Au from 44m, including 2m @ 42.4 g/t Au at Lantern
7m @ 8.33 g/t Au from 4m, including 3m @ 18.0 g/t Au at Lantern
14m @ 3.51 g/t Au from 0m, including 2m @ 16.8 g/t Au at Lantern
5m @ 8.28 g/t Au from 9m, including 1m @ 22.9 g/t Au at Cap Lamp

In addition, wide-spaced shallow RAB drilling at the Jungar Flats JV Project confirmed zones of flat-lying supergene gold mineralisation:

18m @ 1.49 g/t Au from 18m
6m @ 1.59 g/t Au from 26m
4m @ 1.03 g/t Au from 26m
6m @ 1.03 g/t Au from 30m

Samples have been sent to a Perth-based laboratory for analysis, with assay results expected between late July and early August.

CEO Michael Fotios said:

We are very pleased to have completed this first round of targeted drilling at Pharos – with assays now in the laboratory in Perth and expected to be available for reporting in the coming weeks. We have now turned our attention to a follow-up drilling program that will test a suite of high-quality prospects within the Pharos area that have demonstrated strong gold potential. Supported by a strong gold price environment, our team remains committed to increasing exploration over the coming months.