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VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 31, 2012) -Integra Gold Corp. (TSX VENTURE:ICG) –

• OTHER SIGNIFICANT RESULTS INCLUDE:
  • 17.18 GRAMS/TONNE (“G/T”) GOLD OVER 2 METERS (“M”)
  • 13.04 G/T GOLD OVER 2 M
  • 18.25 G/T GOLD OVER 1 M
• VEIN NO. 6 REMAINS OPEN LATERALLY AND AT DEPTH

Integra Gold Corp. (the “Company”) is pleased to report final assay results from drilling earlier this year at the Vein No. 6 zone on its 100% owned Lamaque Project in Val d’Or, Quebec. The Vein No. 6 target area is located approximately 600 m west of the historic Lamaque Mine Main Plug, which produced over 3.6 million ounces of gold and was part of the Sigma/Lamaque complex which in total produced over 9 million ounces.

As part of its 30,000 m 2012 drill program, a total of 3,980 m in 12 holes were completed on this target in the spring. The main objective of the program was to follow-up, laterally and at depth, on intercepts reported in 2011 which included 8.32 g/t Au over 2 m and 5.51 g/t Au over 5 m.

Assays announced today are from drilling done earlier this year and are not part of the nearly completed 20,000 m portion of the 2012 drill program on the Company’s highest priority target, the No. 4 Plug. Further results from ongoing drilling at the No. 4 Plug are anticipated in the near future as 18 holes, or approximately 18,000 m, have now been completed. Recent disclosed highlights from drilling at the No. 4 Plug include 945 g/t gold over 1 m and 111 g/t gold over 6 m (refer to press release dated July 19, 2012).

“These results from drilling at the No. 6 Vein give further credibility to the exploration potential at Lamaque. These are exceptional gold intersections, near surface, and within 600 meters of one of Quebec’s most successful gold mines,” commented Company President and CEO, Stephen de Jong. “The No. 6 Vein will not be a part of our upcoming resource and current drilling will continue to focus on zones that have sufficient work done to conduct a resource estimate although having secondary targets of this quality speaks to the long term potential at Lamaque. With the recent close of our oversubscribed financing the Company is in a position to execute on its objectives and continue to deliver results.”

Highlights of mineralized intercepts include:

To view the complete table of drill results, including disclosed 2011 results, please click on the following link:

http://www.brmstatpack.com/lt/1005/1281/vein-no.-6-2011-2012-drill-results-table

To view a map highlighting results for the Vein No. 6 2012 drilling program please click on the following link:

http://www.brmstatpack.com/lt/1005/1282/vein-no.-6-insert-map

The Vein No. 6 has an estimated east-west strike length of 250 m, extending to a vertical depth of up to 350 m. Gold mineralization is contained in two predominant vein types: veins interpreted to be tension veins dip at about 50° while steeper dipping veins at 75° are interpreted to be hosted in sub-vertical shears. The sometime stacked veins are hosted by a series of massive andesite/dacite and crystal/lapilli tuffs with several feldspar porphyry dykes, a geological setting similar to some of the gold bearing zones known to exist at the close-by Sigma Mine. True thicknesses of individual veins usually vary from 0.1 to 1.5 m. Veins are primarily composed of quartz-carbonate with lesser amounts of tourmaline and chlorite. Pyrite is the predominant sulphide but it is rarely present in quantities greater than 5%.

“Assuming a minimum mining width of 2 m, the vein system was estimated to contain an historical inferred resource of 117,000 tons grading 0.20 oz. Au/t (Blecha, June 3, 1986), the 2011 and 2012 drill program confirmed the presence of continuous mineralization at Vein No. 6 while new drill data have extended the zone laterally and at depth,” stated Hervé Thiboutot, Vice President Exploration of the Company.

The historic estimate was completed prior to NI 43-101 and CIM Mineral Resources and Reserve Guidelines and therefore cannot be fully relied upon, the Company is planning to update the resource estimate at Vein No. 6 in 2013.

PROJECT AND COMPANY PROFILE

Integra’s Lamaque Gold Project is located in the Val d’Or gold camp in the Province of Québec, Canada, about 550 km northwest of Montréal. Québec is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise are readily accessible.

The project shares its northeastern border with the Sigma Mine which has produced 4.7 million ounces of gold to date, with reported significant gold resources and reserves. On its northwest border the Main Plug produced the majority of its 4.7 million ounces of gold for the historic Lamaque Mine. The Agnico-Eagle Goldex Mine, located approximately 6 kilometers west, reported reserves of 3.4 million gold ounces, and directly west of Goldex is the producing Osisko Mine reporting reserves of 10.71 million oz. of gold.

QUALITY ASSURANCE – QUALITY CONTROL (“QA/QC”)

Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to ALS Laboratory Group and Bourlamaque Labs in Val-d’Or for preparation and analysis. Analysis is conducted on 1 assay-ton aliquots. Analysis of Au is performed using fire assay method with a gravimetric finish completed for samples exceeding 5 g/t Au, or a metallic sieve assay for samples containing visible gold. When available the gravimetric or metallic sieve assay results were used for the reported composite intervals. The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, P.Eng. Vice-President of the company and qualified person (“QP”) as defined by National Instrument 43-101, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, P.Eng., Geo. of Géologica Inc., both independent QP as defined by National Instrument 43-101. The Company’s QP has reviewed the technical content of this release.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen de Jong, CEO & President

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Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the use of the proceeds from the private placement, constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the private placement and Company’s planned exploration activities, that the Company is able to complete the private placement, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management’s expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the private placement will not be completed, that actual results of the Company’s exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 30, 2012) -Stornoway Diamond Corporation (TSX:SWY) is pleased to announce the successful completion of public hearings on the Renard Diamond Project held by the Review Committee (“COMEX”) established under the James Bay and Northern Québec Agreement (the “JBNQA”). The COMEX hearings were held in Chibougamau and Mistissini on August 28^th and 29^th, and are expected to be the final round of public consultation prior to the determination of the project’s eligibility to receive its global Certificate of Authorization. The Certificate of Authorization is the principal regulatory approval needed to advance the project to the construction and mining stages, and is expected to be assessed prior to the end of the year.

The Renard Diamond Project falls under the environmental protection regimes of the JBNQA and the Canadian Environmental Assessment Act. The Renard Environmental and Social Impact Assessment (“ESIA”) was filed in December 2011 with the Canadian Environmental Assessment Agency and the Québec Ministère du Développement Durable, de l’Environnement et des Parcs. Public hearings on the ESIA, held separately by the federal and Québec regulators, are an important step in the mine permitting process, and are designed to gauge the overall social acceptability of the proposed development. As with the federal consultations held in June, attendance in both communities for the COMEX hearings was considerable, and comments received on the project were overwhelmingly positive.

Since the project was originally discovered, Stornoway and its predecessor companies have demonstrated a commitment to responsible social engagement with the communities most impacted by the proposed development. In March of this year Stornoway entered into an Impacts and Benefits Agreement, the “Mecheshoo Agreement”, with the Cree Nation of Mistissini (“CNM”) and the Grand Council of the Crees (Eeyou Istchee) / Cree Regional Authority. In July, Stornoway announced a Declaration of Partnership with the communities of Chibougamau and Chapais. Stornoway believes its pro-active approach to community engagement, and the project’s strong social acceptability, has been fully appreciated during the mine permitting review process.

The Renard ESIA, as well as the project’s Environmental Baseline Study and Restoration Plan, are available in their entirety on Stornoway’s website (www.stornowaydiamonds.com/renard/esia).

About the Renard Diamond Project

The Renard Diamond Project is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of North-Central Québec. In November 2011, Stornoway released the results of a Feasibility Study for Renard that highlighted the potential of the project to become a significant producer of high value rough diamonds over a long mine life. NI 43-101 compliant Probable Mineral Reserves stand at 18.0 million carats, with a further 17.5 million carats classified as Inferred Mineral Resources, and 23.5 to 48.5 million carats classified as non-resource exploration upside. All kimberlites remain open at depth. Pre-production capital cost stands at C$802 million, with a life of mine operating cost of C$54.71/tonne giving a 68% operating margin over an initial 11 year mine life. Production start-up is scheduled for 2015. Readers are referred to the technical report dated December 29, 2011 in respect of the Renard Diamond Project for further details and assumptions relating to the project.

About Stornoway Diamond Corporation

Stornoway is a leading Canadian diamond exploration and development company listed on the Toronto Stock Exchange under the symbol SWY. Our flagship asset is the 100% owned Renard Diamond Project, on track to becoming Québec’s first diamond mine. Stornoway also maintains an active diamond exploration program with both advanced and grassroots programs in the most prospective regions of Canada. Stornoway is a growth oriented company with a world class asset, in one of the world’s best mining jurisdictions, in one of the world’s great mining businesses.

On behalf of the Board

STORNOWAY DIAMOND CORPORATION

Matt Manson, President and Chief Executive Officer

This press release contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as “forward-looking statements”, are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law.

Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the amount of mineral resources and exploration targets; (ii) the amount of future production over any period; (iii) net present value and internal rates of return of the mining operation; (iv) assumptions relating to capital costs, operating costs and other cost metrics set out in the Feasibility Study; (v) assumptions relating to gross revenues, operating cash flow and other revenue metrics set out in the Feasibility Study; (vi) assumptions relating to recovered grade, average ore recovery and other mining parameters set out in the Feasibility Study; (vii) mine expansion potential and expected mine life; (viii) expected time frames for completion of permitting and regulatory approvals and making a production decision; (ix) future exploration plans; (x) future market prices for rough diamonds; and (xi) sources of and anticipated financing requirements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are made based upon certain assumptions by Stornoway or its consultants and other important factors that, if untrue, could cause the actual results, performances or achievements of Stornoway to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Stornoway will operate in the future, including the price of diamonds, anticipated costs and ability to achieve goals. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, but are not limited to: (i) estimated approval date of the Environmental and Social Impact Assessment; (ii) required capital investment and estimated workforce requirements; (iii) estimates of net present value and internal rates of return; (iv) receipt of regulatory approvals on acceptable terms within commonly experienced time frames; (v) the assumption that a production decision will be made, and that decision will be positive; (vi) anticipated timelines for the commencement of mine production; (vii) anticipated timelines related to the Route 167 extension and the impact on the development schedule at Renard; (viii) anticipated timelines for community consultations and the impact of those consultations on the regulatory approval process; (ix) market prices for rough diamonds and the potential impact on the Renard Project’s value; and (x) future exploration plans and objectives.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important risk factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, including the assumption in many forward-looking statements that other forward-looking statements will be correct, but specifically include, without limitation, (i) risks relating to variations in the grade, kimberlite lithologies and country rock content within the material identified as mineral resources from that predicted; (ii) variations in rates of recovery and breakage; (iii) the greater uncertainty of exploration targets; (iv) developments in world diamond markets; (v) slower increases in diamond valuations than assumed; (vi) risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar; (vii) increases in the costs of proposed capital and operating expenditures; (viii) increases in financing costs or adverse changes to the terms of available financing if any; (ix) tax rates or royalties being greater than assumed; (x) results of exploration in areas of potential expansion of resources; (xi) changes in development or mining plans due to changes in other factors or exploration results of Stornoway; (xii) changes in project parameters as plans continue to be refined; (xiii) risks relating to receipt of regulatory approvals or the implementation of the existing Impact and Benefits Agreement with aboriginal communities; (xiv) the effects of competition in the markets in which Stornoway operates; (xv) operational and infrastructure risks; and (xvi) the additional risks described in Stornoway’s most recently filed Annual Information Form, annual and interim MD&A, and Stornoway’s anticipation of and success in managing the foregoing risks. Stornoway cautions that the foregoing list of factors that may affect future results is not exhaustive.

TORONTO, ONTARIO–(Marketwire – Aug. 27, 2012) - Inter-Citic Minerals Inc. (“Inter-Citic” or the “Corporation”) (TSX:ICI)(OTCQX:ICMTF) today announced that it has entered into a definitive agreement (the “Arrangement Agreement”) pursuant to which Western Mining Group Co., Ltd. (“Western Mining”) will acquire all the outstanding common shares of Inter-Citic by way of a plan of arrangement (the “Arrangement”) for C$2.05 per share in cash, valuing the Corporation at approximately C$250 million. The cash consideration of C$2.05 per share to be received by shareholders represents an implied premium of 41.4% to Inter-Citic’s closing share price on the Toronto Stock Exchange (“TSX”) of C$1.45 on August 24, 2012, and an implied premium of 123% to Inter-Citic’s 20-day volume weighted average trading price of C$0.9193 on the TSX prior to and including July 6, 2012, being the last trading day prior to the date on which Inter-Citic announced that it was in negotiations with a third party.

Highlights

• Unanimous recommendation of Inter-Citic’s Special Committee and Board of Directors
• Directors and senior officers have agreed to vote in favour of the Arrangement
• Implied premium of 123% to Inter-Citic’s 20 day volume weighted average trading price prior to and including July 6, 2012, being the last trading day prior to the announcement that Inter-Citic was in negotiations with a third party

Inter-Citic’s Board of Directors, after receiving the unanimous recommendation of its special committee of independent directors following an extensive review and analysis of the proposed Arrangement, and consulting with its financial and legal advisors, has unanimously determined that the Arrangement is in the best interests of the Corporation and its shareholders, and unanimously recommends that Inter-Citic shareholders vote in favour of the Arrangement. Inter-Citic’s Board of Directors has also received an opinion from its financial advisor to the effect that, as of the date hereof, the consideration to be received by Inter-Citic shareholders under the Arrangement is fair, from a financial point of view, to Inter-Citic shareholders.

Directors and senior officers of the Corporation have entered into voting agreements with Western Mining pursuant to which they have all agreed to vote their common shares in favour of the Arrangement. These supporting shareholders beneficially own or exercise control or direction over, collectively, approximately 0.86% of the outstanding common shares of Inter-Citic.

James Moore, Chief Executive Officer of Inter-Citic commented: “I have been impressed by Chairman Wang and his team at Western Mining. Under his leadership Western Mining has recognized the opportunity which the Dachang project provides to make an aggressive step into the gold industry and at the same time provide Inter-Citic shareholders with the best proposal that management has considered. We look forward to continuing to work with the Western Mining team on this important transaction.”

Mr. Xihong Pan, Vice President of Western Mining Group Co., Ltd., said: “Our acquisition of Inter-Citic and the Dachang Project is an important step in realizing our Chairman’s strategic goal of expanding the gold division of Western Mining. We look forward to working with all stakeholders, from shareholders to employees, joint venture partners and relevant government parties, in concluding a successful transaction.”

Details of the Transaction

The Arrangement Agreement provides for, among other things, customary board support and non-solicitation covenants, a five business day right in favour of Western Mining to match any superior proposal, the payment to Western Mining of a break fee and the payment to the Corporation of a reverse break fee equal, in each case, to C$7 million if the Arrangement is not completed in certain specified circumstances.

The terms and conditions of the Arrangement will be summarized in the Corporation’s management proxy circular, which is expected to be filed and mailed to Inter-Citic shareholders in late September or early October 2012. The Arrangement will be subject, among other things, to the approval of at least 66-2/3% of the votes cast at a special meeting of Inter-Citic shareholders to be called to consider the Arrangement. In addition, the Arrangement will be subject to certain customary conditions, including approval of the Ontario Superior Court of Justice, relevant regulatory approvals and the absence of any material adverse change with respect to the Corporation. The transaction is expected to close in the fourth quarter of 2012, subject to the satisfaction or waiver of various customary closing conditions.

Pursuant to the Arrangement, each outstanding warrant to purchase common shares of Inter-Citic will be acquired by an affiliate of Western Mining and each option to purchase common shares of Inter-Citic will be acquired for cancellation by Inter-Citic in exchange for a cash payment equal to the product of (i) C$2.05 less the exercise price per common share of the relevant warrant or option, and (ii) the number of common shares underlying the relevant warrant or option, as applicable.

A copy of the Arrangement Agreement and the plan of arrangement relating thereto, the management proxy circular of Inter-Citic, the fairness opinion and other related documents will be filed with the Canadian securities regulatory authorities and will be available for viewing on the System for Electronic Document Analysis and Retrieval (SEDAR) website at http://www.sedar.com.

Advisors

Standard Chartered Bank (acting through its wholly owned subsidiary Gryphon Partners Canada Inc.) is sole financial advisor to Inter-Citic in connection with the proposed Arrangement. Miller Thomson LLP is acting as legal advisor to Inter-Citic. Riverstone Advisory Pty Ltd. is the sole financial advisor to Western Mining and Stikeman Elliot LLP is acting as legal advisor to Western Mining in connection with the Arrangement.

About Inter-Citic

Toronto-based Inter-Citic Minerals Inc. is an exploration and development company advancing its Dachang Gold Project in the People’s Republic of China. Inter-Citic is listed on the TSX under the symbol ICI. Inter-Citic’s website is http://www.inter-citic.com.

About Western Mining

Western Mining Group Co., Ltd. is an integrated resources development company based in Qinghai Province, People’s Republic of China. It has total assets of approximately C$5.5 billion and is involved in geological exploration, mining, processing, smelting, scientific research and development, trade, investment and financing. There are approximately 40 companies within the Western Mining Group, including Western Mining Co., Ltd, which is listed on the Shanghai Stock Exchange.

Investors are encouraged to review “Risk Factors” associated with the Dachang project as outlined in the Company’s 2011 Financial Statements and Annual Information Form, along with updates, available on the SEDAR website at http://www.sedar.com. The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading “Risk Factors” in the company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

RIMOUSKI, QUÉBEC–(Marketwire – Aug. 23, 2012) - Ressources Appalaches (TSX VENTURE:APP) is pleased to announce the signature of an agreement to acquire the Dufferin East property, adjacent to the Dufferin Mine in Nova Scotia with Acadian Mining Corporation. This strategic acquisition is related to the future development of the mine, as it is contiguous and directly located to the east of Dufferin Mine. The Company now owns the rights on the anticline structure associated to the Dufferin deposit and its extension over 3.8 km, doubling the current extend.

A hole drilled in 2011 by Acadian located the anticline structure at a depth of approximately 150 metres. Several stratabound laminated quartz veins similar to those found on the Dufferin deposit and typical of “Saddle Reef vein” mineralisation were observed.

The Dufferin project is now composed of: Dufferin North, Mine Dufferin, Dufferin East, and Chocolate Lake, which are all located on the same anticline structure of 8.4 km long. Miller Lake and Ecum Secum properties are located on two other parallel anticlinal structures to the north and to the south of Dufferin, respectively.

With an area of 5.5 km² (554 hectares), the Dufferin East property was acquired for $125,000 total made in two payments: an initial payment of $50,000 at signature and a final payment of $75,000 six months later. The claims are subject to a 2% net smelter return royalty, which may be purchased for $1 million.

Clarification on the private placement announced last August, 21: the finders can receive a commission of 5% on warrants exercised.

About Ressources Appalaches

Since it was created in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada, and more especially in Québec and Nova Scotia. Appalaches’ primary focus is with the exploration and development of the Dufferin gold mine in Nova Scotia.

The contents of this press release were prepared and checked by Alain Hupé, Eng. a Qualified Person as defined in NI 43-101. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such statements. These risks and uncertainties are described in the quarterly and annual reports, and in the documents submitted to the securities administration

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 22, 2012) - Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX VENTURE:SGN) announces further drill results from its 2012 drilling program on the Mary LC Zone, located adjacent to the Mary pit which is currently undergoing pre-stripping in advance of commencing full-scale open pit production at the 70% owned Mineral Ridge project, Nevada. Production from the Mary pit will add to and supplement current production from the Drinkwater pit.

Scorpio Gold’s exploration work to date has determined that the Drinkwater, Mary and Mary LC zones represent one continuous zone of mineralization, with the LC area being the least defined to date. The results presented in Table 1 are from an area which had no previous drilling and was considered to be sterile. A drill hole plan is available at http://www.scorpiogold.com/i/maps/mr/MaryLC_DHplan.jpg.

Table 1. Mary LC Zone – Significant Drill Results

All holes presented in the above table were completed by reverse circulation (RC) drilling. True width is estimated at ~90% of downhole width. Analytical results were performed by American Assay Laboratory Inc. (“AAL”) in Sparks, Nevada, USA. AAL does not have ISO/IEC 17025 accreditation but implements a quality management system following ISO/IEC 17025 standards and maintains a paperwork trail for ISO/IEC 17025 accreditation. AAL participates in a number of testing and certification programs, details of which are presented in the Company’s quality assurance and quality control (QA/QC) program for the Mineral Ridge project at: http://www.scorpiogold.com/i/pdf/reports/QAQC-MR.pdf. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory.

Scorpio Gold’s President & CEO, Peter J. Hawley, PGeo, is a Qualified Person for the Mineral Ridge project and has reviewed and approved the content of this release. For additional information please see the Company’s website at http://www.scorpiogold.com.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Peter J. Hawley, President & CEO

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 Company’s plans with respect to the exploration, development and exploitation of its Mineral Ridge project. 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 risks such as delays related to completion of exploration programs and 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.

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 21, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

GoldQuest Mining Corp. (the “Company”) (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) today announced the closing of the bought deal private placement previously announced on July 31, 2012. Dundee Securities Ltd. (the “Lead Underwriter”), on behalf of a syndicate of Underwriters including Stifel Nicolaus Canada Inc., Clarus Securities Inc., GMP Securities L.P., and Raymond James Ltd. (the “Underwriters”), sold 12,000,000 common shares (the “Shares”) at a price per Share of $1.25 for total gross proceeds of $15,000,000 (the “Offering”). As part of the Offering, the Underwriters exercised their option (the “Option”) to purchase an additional 4,000,000 Shares of the Offering.

In connection with the Offering, the Underwriters received a cash commission equal to 6.0% of the gross proceeds raised under the Offering (inclusive of the Option) and that number of non-transferable broker warrants (“Broker Warrants”) as is equal to 6.0% of the number of Offered Securities sold (inclusive of the Option). Each Broker Warrant will be exercisable into one Share of the Company, for a period of 24 months from the Closing Date at a price of $1.25 per Share.

The securities issued pursuant to the Offering are subject to a hold period expiring on December 22, 2012.

The net proceeds will be used to advance the exploration and development of the Company’s gold assets in the Dominican Republic and for general corporate purposes.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About GoldQuest

GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 139,975,267 shares outstanding (153,048,601 on a fully diluted basis).

Forward-looking statements:

This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward- looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although GoldQuest believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of GoldQuest’s management on the date the statements are made. GoldQuest undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.