Scorpio Gold Corp. (SRCRF)

[Belgie24]

Scorpio Gold Corporation to Commence Normal Course Issuer Bid
Vancouver, September 26, 2012 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) has received approval from the TSX Venture Exchange (the "Exchange") to commence a normal course issuer bid (the "Bid") to purchase up to 5,727,411 of its common shares ("Shares"), representing 5% of the Company's 114,548,235 issued and outstanding Shares, as at September 20, 2012.

Under the Exchange's policies, the Bid will commence on October 1, 2012 and will end on the earlier of September 30, 2013, or at such time as the Bid has been completed or the Bid is terminated at the Company's discretion.

Scorpio Gold is of the opinion that due to the volatility in global equity markets, the recent trading price of the Company's shares does not fully reflect the underlying value of its business, and the stage of development of its Mineral Ridge project in Nevada. The Company believes that a repurchase of its common shares at the current trading levels represents an attractive investment, since a portion of the Company's working capital can be invested for an attractive risk-adjusted return of capital through its bid, in addition to improving the liquidity in the Issuer's common shares.

Shares will be purchased on the open market through the facilities of the Exchange by Jennings Capital Inc. and the purchase and payment for the acquired Shares will be made by the Company in accordance with the requirements of the Exchange. The price paid by the Company for any acquired Shares will be the market price at the time of acquisition. All Shares purchased by the Company under the Bid will be cancelled. Funding for the Bid will be from the Company's working capital. Share purchases under the bid will be made at management's discretion based on market conditions. The Company has no obligation to make any purchases under the bid.

http://www.scorpiogold.com/s/news.asp?ReportID=549629