Golden Phoenix Minerals Inc (EM) (GPXM)

A blast from the past...

Scorpio Gold Completes Sale of Mineral Ridge Project

https://www.newsfilecorp.com/release/263876/Scorpio-Gold-Completes-Sale-of-Mineral-Ridge-Project

August 25, 2025 7:03 PM EDT | Source: Scorpio Gold Corp

Vancouver, British Columbia--(Newsfile Corp. - August 25, 2025) - Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) ("Scorpio Gold", or the "Company") is pleased to announce that its wholly-owned subsidiary, Scorpio Gold (US) Corporation ("Scorpio US"), has completed its sale of Mineral Ridge Gold, LLC ("MRG"), a wholly-owned subsidiary of Scorpio US, to an arm's length third party (the "Purchaser").

Under the terms of the Agreement, the Purchaser acquired all membership interests in MRG, along with the related unpatented mining claims comprising MRG's Mineral Ridge project located in Esmeralda County, Nevada (the "Project"), for an aggregate cash purchase price of US$7,500,000, of which (i) US$5,000,000 has been advanced by the Purchaser to the Company, (ii) a further US$1,500,000 has been paid into escrow as an indemnification holdback, with such funds to be released to the Company on November 25, 2025 (as to 50%) and May 25, 2026 (as to 50%), and (iii) a further US$1,000,000 will be paid on August 25, 2026 to the Company. The Purchaser has also assumed the reclamation bond obligations of the Company and Scorpio US related to the Project. Certain assets associated with the Project were retained by the Company and transferred to its subsidiary, Scorpio US, in advance of closing. No finder's fee was paid in connection with the transaction.

"The successful closing of the Mineral Ridge sale marks a pivotal milestone for Scorpio Gold. By divesting this non-core asset, we have significantly strengthened our balance sheet, eliminated ongoing holding costs, and secured meaningful, non-dilutive capital to advance our flagship Manhattan District project. With a stronger financial foundation and a focused strategy, we are well positioned to unlock the full potential of what we believe is one of Nevada's most exciting, underexplored gold districts," said Zayn Kalyan, CEO of Scorpio Gold.

About Scorpio Gold Corp.

Scorpio Gold holds a 100% interest in the Manhattan District project, a past producing project located in the Walker Lane Trend of Nevada, USA. Scorpio Gold's Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge Mine, with a 400 ton per day maximum capacity gravity mill, and four past-producing pits that were acquired from Kinross in 2021 (see March 25, 2021 news release). The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 100,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights.

ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION,

Zayn Kalyan, Chief Executive Officer and Director
Tel: (604)-252-2672
Email: zayn@scorpiogold.com

Investor Relations Contact:
Kin Communications Inc.
Tel: (604) 684-6730
Email: SGN@kincommunications.com

Connect with Scorpio Gold:
Email | Website | Facebook | LinkedIn | X | YouTube
To register for investor updates please visit: scorpiogold.com
TSXV: SGN | OTC: SRCRF | FSE: RY9

Forward-Looking Statements

The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding: the release of funds retained in escrow as an indemnification holdback; the payment of the final tranche of consideration by the Purchaser; closing marking a pivotal milestone for the Company; the Company's plan to use the proceeds from the sale to advance its flagship Manhattan District project; the Company having a stronger financial foundation and focused strategy and being well positioned to unlock the full potential of what the Company believes is one of Nevada's most exciting underexplored gold districts. There is significant risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR+. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Scorpio Gold Corp

Bestrfitter, long time since we talked. Central MN here. Met at a couple shareholders meetings. Just looked at some stock certs. GPXM should be framed as where not to spend your money. Hope all is well with you. Goacs

I just wandered in:) just got a letter from the holding company and they are removing the stock. My husband bought it years ago. Is it still a company? Should i let it go?

Greetings! Any of the old investors still wander through here? I still have contacts in Silver Peak. 1of6? Subman? Dave? 8thaero? And many more~~

Well at least we may have someone that might at least know what’s going on:). I wonder if Bauman could become custodian?

Custodianship filed by Bauman? Interesting
https://www.clarkcountycourts.us/Portal/Case/CaseDetail?eid=GFnlofLi3-GBV7oN5slFvg2

Bankrupsy firm darbylawpractice.com 775-322-1237

I wouldn't have to post this for you guys if they returned my email
I sent them march 15. I told them I was a shareholder and did gpxm get their discharge. The bankrupsy was started in 2016. I also mentioned the fact that we could get delisted in the otc if we didnt get some paperwork in. No response! I quess they don't realize
shareholders are the owners of the company. Let us know if any of you guys get any info especially who hired them and how we can get
in touch with them. This person should be assessible to us if he hired this firm.
thanks oil

GPXM PSAR flipped bullish on the chart today

Why is it interesting to watch a shitty little penny fraud?

You're Right. Interesting to watch. Someone is buying and somebody selling. Who knows whats driving the trading.

I have been wondering that for months. Seems like someone wants cheap shares hence the price seems to stop raising, until it drops back then volume comes in and takes all available shares before the price gets to high.

My guess is that since it's a shell that someone is gonna do something with it and probably totally unrelated to their prior business model.

Should be interesting. I have millions of shares from long ago that I assumed would never worth anything. That may still be the case but with recent action I'm not selling any until I know what's going on.

It would be pretty incredulous if something is going on, but i wouldn't be sad:)

Agreed. Happened again today. Volume and price increase. Curious

Agreed. Some volume happened again today. Curious

I was wondering the same thing....very weird

Is something happening with GPXM ?

Oh wow! I just saw 2016 hahaha...i had 2019 in my mind. Yeah, that's weird

I kept holding on hoping something would happen, but i have no clue what happens now. With most companies, that's the end, but i don't know if gold mines are any different.

October 17,2016 chapter 7 filed!
I think the ximen mining shares were just auctioned off. Strange how etrade let a bankrupt co. Trade. The question is what happens to the company after they receive the discharge. I still think with this shell having 50 million in carry over losses in the last 20 years it would be worth some money. We also have name recognition and maybe we can also go after waterton like gryphon gold if they win their case who knows. All just opinion.
Oil

Re claims around mineral ridge?
Did we lose those to Scorpio as a result of our disappearing directors?? If so I believe they would be liable as they vanished with no word. Any opinions??
Thanks
Oil

Another possible!!
I was just reading an August 2018 post on the gyph board. They're going after Waterton hard. Serious affidavits from former mgt. Steve Craig has 25 pages. We know what they did to us. Serious accusations. Maybe it has something to do with that. My conspiracy mind says there something going on. Maybe we're in the global reset and we'll get paid after cmkx diamonds you never know.
Oil

Coffee???
Any ideas how we can get this company active again?? Maybe banker 53
Was right about naked short selling here and there just shutting us down to conceal it!
Oil

Over 60 million in losses!!!
Since 1997 according to the 10q from 2014. Doesn't that alone make this company valuable?? Never mind the investment in xmen mining,the
Family mine including the star mine with rockchip samples and the claims surrounding mineral ridge. Something is up!
Oil

Something smells wrong here!
This was a non reporting company why would it stop trading over some lack of info. There's tons of subpenny stocks that trade that have no info for years. Our two director's disappear? We did hold claims around mineral ridge Unless those were let go. Something just doesn't seem right.
Oil

Hey, slick! Yeah, I just have no clue here. I play a lot of online poker, and the one thing I've learned is that if you don't know who the sucker is at the table, it's probably you...lol...Everyone's trying to line their pockets, and sometimes it forces then to do stuff they wouldn't normally do or say. I'd put Rob in that boat. Nice guy, but less than honest at times, IMO.

Hey coffee!!
Good to hear from you. Ya the bird stopped trading for some kind of lack of info. I tried contacting Auger and Highsmith but had no luck. I'd be willing to help but don't have any idea how. I bought
Some shares subpenny as compared to most subpennies we had a few assets and the shares weren't completely bloated out. Anyway if you have any ideas let us know.
Keep in touch
Oil
P.s I think Golden Arrow could be a good opportunity. Check it out the symbol is garwf.

Hey guys! Coffee here. Just came across this board while looking for possible upcoming metal investments. Sorry to say I have nothing on the bird. Quite frankly, didn't even know it was still listed. Don't talk to Rob anymore. Not sure he would even have a clue. Like most, I'm expecting gold/silver to make a generational move starting in a month or so. If these guys can stay afloat, even this one should make money. Still have all my shares...lol...

Me too!!
Last time the stock went subpenny it climbed to .20 I was hoping for a repeat. Maybe something is going on behind the scenes. I thought it would be a valuable shell unless there's pending suits against it. Other than that we had some claims, some stock in xmen mining
And I believe a huge tax carry over loss for the last 20 years.
Maybe the Phoenix will rise again. We could use a Rob Martin takeover again.
Oil

I have no clue! I was hoping that since gold is climbing there might be some news but i dont understand why there hasn't been any kind of update:/

No calls or emails back!
Really I don't know what to do. We had assets unless mgt let the claims lapse. We bought a family mine with rock chip sampling of 1 ounce per ton gold. We bought stock in a Canadian mining co. And we staked claims around mineral ridge. We also had a jv with makarie gold which we probably defaulted on. The stock is not totally bloated with outstanding shares and I believe we are carrying a valuable tax loss. Any ideas??
OIL

Thanks yaya!
I just sent him an email at dennis@dpgaugercpa.com I asked him if he was still a director and could he update us on the trading suspension and company business. Hopefully he replies and I can get us some updates.
Thanks oil

Oil, you may want to try Dennis gauger . He has a cpa firm in Utah called d p gauger and assoc. worth a try...somewhere it said he is still on the BOD.

HEMP: A perfect company to enter

the Hemp business..... Maybe?

Ask at 25 cents. Did somebody find diamonds on their gold property? Or even better, another vein of Moly?

O.k what's our next step?
Do you guys know who our largest shareholder is?? Or how we can find out? Rob Martin would know how to do this as he did it once before with this company. Black Coffee knows Rob. Remember black coffee from raging bull? I guess we have to just keep digging.
Thanks oil

No call back from Highsmith
Left message with pure energy minerals over a week ago. I'll keep trying.
Oil

Looks like this stock is heading toward zero. Sad.

Thanks yaya!
Just left a message for him at pure energy minerals. Their news release said he stepped down as ceo but stayed on as a director.
I'll post after he calls.
Thanks oil

https://www.linkedin.com/in/patrick-highsmith-06a4a623

Sounds great! Thanks oil

Finding Patrick Highsmith
He was a director in 2016. He recently stepped down as a director of pure minerals. I'll try to find a way to contact him. If you guys have any info let me know otherwise I'll let you know what I find out.
Oil

Thanks!
I guess the first thing we need to do is to find out what is going on. If we post any facts we can find we might develop a trail we can follow.
Oil

I'm still here and check this page from time to time. I have not been able to log in and post for years.
Now suddenly I can sign in.
I'll vote you in as well oil.
There must be some plans in the background.

I’m sure there are a few of us hoping the Phoenix will rise from the ashes:). I have no idea what is going on though. I will vote you in!

Any shareholders out there??
I would willing to step up and help even as ceo . Any ideas??
Oil

Is gpxm being hijacked??
I have some penny stocks that haven't said anything for over 5 years and they still trade. Some with over 10 times the shares here with no reporting of assets. This company had a press release 2 years ago. One property they bought outright with rockchip sampling and various claims staked around mineral ridge. They also mentioned the joint venture with makarie gold.
Any opinions?? I believe they are also carrying a 50 million loss over the last 20 years or so that must be worth something. If there's no present legal problems this could be a good co. To reorganize. Just opinion.
Oil

Patrick Highsmith
Are you still a director??? Can you tell us what's going on?
Thanks
Oil

GPXM SEC Suspension "because of questions regarding the adequacy and accuracy of information about the company".

https://www.sec.gov/litigation/suspensions/2018/34-84824.pdf

Order:

https://www.sec.gov/litigation/suspensions/2018/34-84824-o.pdf

In the update in 2016
It describes a property they just bought and claims staked along with the makari gold options. But not a peep since.
Oil

Anyone know why this failed business is still trading?