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Re: News Releases - Thursday, December 06, 2007
Scorpio Gold Corporation and BacTech Mining Corporation Seek
Shareholder Approval to Merger
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Vancouver, December 6, 2007 - Scorpio Mining Corporation ("Scorpio
Mining") (TSX: SPM) announces that its 93% owned subsidiary, Scorpio
Gold Corporation ("Scorpio Gold") has mailed meeting materials to its
shareholders in respect of the proposed merger (the "Merger") of
Scorpio Gold and BacTech Mining Corporation ("BacTech") (TSXV: BM), as
announced on October 30, 2007. The special meeting of the Scorpio Gold
shareholders to approve the Merger will be held on December 28, 2007.
Scorpio Mining has agreed to support the transaction as the controlling
shareholder of Scorpio Gold. The special meeting of the shareholders of
BacTech to approve the Merger is scheduled to be held on the same day.

Under the proposed Merger, BacTech will issue 2.6 common shares for
each common share of Scorpio Gold outstanding and will exchange any
outstanding Scorpio Gold warrants for BacTech warrants based on the
same 2.6:1 exchange ratio. On the closing of the Merger, and assuming
completion of the Scorpio Gold equity financing (as described below),
Scorpio Mining will hold approximately 46% of the issued and
outstanding common shares of BacTech. Upon closing of the Merger,
BacTech will change its name to Scorpio Gold Corporation.

Scorpio Mining also wishes to report that Scorpio Gold has engaged
Research Capital Corporation ("Research Capital") to act as its sole
agent, on a best-efforts agency basis, for a private placement offering
(the "Scorpio Gold Financing") to raise $4,000,000 by the issuance of
unit subscription receipts (each a "Unit Subscription Receipt") of
Scorpio Gold. Each Unit Subscription Receipt will entitle the holder to
acquire one unit (each a "Unit") consisting of one common share in the
capital of Scorpio Gold and one-half of one common share purchase
warrant. The Scorpio Gold Financing is scheduled to close prior to the
completion of the Merger. All securities of Scorpio Gold to be issued
under the Scorpio Gold Financing will be exchanged for securities of
BacTech upon completion of the Merger in accordance with the exchange
ratio set out above. The proceeds from the Scorpio Gold Financing will
be held in escrow pending completion of the Merger, and will upon
completion of the Merger be released to the resulting merged company
and used to complete Phase 1 of the recommended exploration programme
for Scorpio Gold's Caribou Gold property and, if results from Phase 1
prove positive, to initiate Phase 2 of the exploration program, and for
general working capital purposes. Research Capital will receive
compensation in the form of an 8% cash commission and 10% broker
compensation options exercisable for Units. The Scorpio Gold Financing
remains subject to regulatory approvals. Research Capital and Scorpio
Gold anticipate the Scorpio Gold Financing will proceed in
early-January 2008 at which time additional details on the Scorpio Gold
Financing will be provided.

The Merger is conditional upon, among other things, the approval of the
Scorpio Gold shareholders and the BacTech shareholders at their
respective shareholders' meetings and the approval of the TSX Venture
Exchange. The Merger is expected to close on or before January 30,
2008.

ON BEHALF OF SCORPIO MINING CORPORATION

Peter J. Hawley
Chairman & CEO

For further information contact:
Jackson Little Holdings Ltd. (604) 930-4375 / 1-888-930-4375

This discussion includes certain statements that may be deemed
"forward-looking statements". All statements in this discussion, other
than statements of historical facts, that address future exploration
drilling, exploration activities and events or developments that the
Company expects, are forward looking statements. Although the Company
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 or developments may differ
materially from those in forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking
statements include metal prices, exploration successes, continued
availability of capital and financing, and general economic, market or
business conditions.

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Copyright (c) 2007 SCORPIO MINING CORPORATION (SPM) All rights
reserved. For more information visit our website at
http://www.scorpiomining.com/ or send mailto:scorpio@scorpiomining.com
Message sent on Wed Dec 5, 2007 at 1:09:59 PM Pacific Time
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