Scorpio Gold

This estimate also requires determining the most appropriate inputs to the valuation model including the expected rate of forfeitures, expected life, price volatility, interest rate and dividend yield.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

At this stage of its development, it is the Company s policy to preserve cash to fund its operations and not to pay dividends.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

As at August 25, 2025, the Company measured the present value of the $ 2,500,000 of proceeds to be received in future dates as at $ 2,376,488 , using a discount rate of 7.30 % as determined from its incremental borrowing rate.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

LoanS payable Schedule of loans payable June 30, 2026 December 31, 2025 $ $ Balance, opening 507,601 1,014,918 Repayments cash ( 547,917 ) Effect of movements on exchange rates ( 17,782 ) 40,600 Balance, closing 489,819 507,601 a) In October 2021, the Company entered into an unsecured non-interest-bearing credit facility agreement with certain directors of the Company.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

In February 2022, the Company amended its credit facility agreement ( 2022 Credit Facility ) with certain directors of the Company to increase the facility from up to $500,000 to up to $ 750,000 and to extend the repayment date to December 31, 2022.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

b) On August 2, 2024, the Company entered into a short-term loan with an arm s length third party for proceeds of C$ 1,150,000 at an interest rate of 5 % per annum, due for repayment on December 31, 2024.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

Additional financing will be required by the Company to complete its strategic objectives and continue as a going concern.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

Care and maintenance Schedule Operating Expenses By Nature For the six months ended June 30, 2026 June 30, 2025 $ $ Contractor 23,281 Fuel and reagents 12,141 Insurance 227,804 Labour 240,908 Maintenance 80,533 Mechanical parts 1,390 Other 110,071 Permits and licenses 130,398 Supplies 32,635 Utilities 138,585 Travel 26,722 1,024,468 After the Company disposed MRG in August 2025 (Note 5), the Company focused on exploring Goldwedge Property and all exploration expenses incurred on Goldwedge Property are capitalized (Note 8).

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

After the Company sold MRG on August 25, 2025, the Company has been focusing on exploring Goldwedge.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

These material uncertainties may cast significant doubt upon the Company s ability to continue as a going concern.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

There are numerous uncertainties inherent in estimating mineral reserves and mineral resources, including many factors beyond the Company s control.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

Whether actual results will conform to the expectations of Scorpio Gold, the Company is subject to a number of risks and uncertainties, including those risk factors discussed under “Risk Management” in the above documents incorporated herein by reference.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026

These material uncertainties may cast significant doubt upon the Company’s ability to continue as a going concern.

SEC original ↗Scorpio Gold — Earnings release (6-K exhibit)EX-99Sep 1, 2026