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Re: News Releases - Thursday, April 24, 2008
Scorpio Commences Production Mining at the Nuestra Senora
Project, Mexico
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Vancouver, April 24, 2008 - Scorpio Mining Corporation (TSX:SPM) is
pleased to announce the commencement of production mining from the
first stope in the Hoag Zone at its 100% owned Nuestra Senora project,
Sinaloa State, Mexico. The Hoag Zone has been developed on three levels
and stope preparation is virtually complete for long-hole mining.
The first long-hole production blast in Block 10-15 of the Hoag zone
was completed on Friday April 18, 2008, and since then long-hole
drilling has been completed for the entire block. With this first
production blast, block 10-15 is now open on its full width of 20
metres. It is located between levels 10 and 10.5 and contains a total
of 21,298 metric tonnes (MT). The first blast of this stope provides an
extra 3,866 MT to the stockpiles, which currently contain 79,000 MT. A
second stope from the Hoag zone, Block 10-13, is ready and will
eventually provide to the operation another 30,804 MT.
Peter J. Hawley, Chairman, CEO comments, "The first long-hole
production blast in Block 10-15 represents one more important benchmark
the Company has achieved according to schedule and within budget. The
development in ore has confirmed the continuity and homogeneity of the
mineralization within the Hoag Zone and supports our planned mining
method. The production ore will be transported to the current Stockpile
#2 at the mill site, which will be processed following mill
commissioning from development ore in Stockpile #1. In addition to the
Hoag Zone, development and stope preparation is ongoing in the Main NW
and Santa Teresa Extension zones, where long-hole and room-and-pillar
mining methods will be used. Along with other areas currently being
prepared for higher grade selective mining, we are confident that we
will achieve full production according to schedule."
President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified
Person for the Nuestra Se�ora project. Mr. Scammell is responsible for
the current exploration and development program and has reviewed the
content of this release.
ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
Chairman & CEO
For further information contact:
Glenn Little, Jackson Little Holdings Ltd: 604-930-4375; 1-888-930-4375
Email: jlconsulting@telus.net
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090
(outside North America)
Email: yes@yesinternational.com
This news release includes certain statements that may be deemed
"forward-looking statements" within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Forward-looking statements include,
but are not limited to, statements with respect to the future price of
silver, zinc, copper, lead and gold, the timing of construction and
production activities, the mine life of the Nuestra Se�ora Project, the
economic viability and estimated internal rate of return of the Nuestra
Se�ora Project, the estimation of mineral reserves and mineral
resources, the results of drilling, estimated future capital and
operating costs, projected mineral recovery rates, requirements for
additional financing and Scorpio Mining Corporation's commitment to,
and plans for developing the Nuestra Se�ora Project. Generally, these
forward-looking statements can be identified by the forward-looking
terminology such as "plans", "expects"' or "does not expect", "is
expected", "budget", "scheduled", "estimates", "projects", "intends",
"anticipates", or "does not anticipate", or "believes", or "variations
of such words and phrases or state that certain actions, events or
results "may", "can", "could", "would", "might", or "will" be taken",
"occur" or "be achieved". Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of
Scorpio Mining Corporation to be materially different from those
expressed or implied by such forward-looking statements, including but
not limited to: risks related to the exploration and potential
development and construction of the Nuestra Se�ora Project, risks
related to international operations, construction delays and cost
overruns, the actual results of current exploration, development and
construction activities, conclusions of economic evaluations, changes
in project parameters as plans continue to be refined, future prices of
silver, zinc, copper, lead and gold, as well as those factors discussed
in the sections relating to risk factors of our business filed in
Scorpio Mining Corporation's required securities filings on SEDAR,
including its Annual Information Form dated March 26, 2008. Although
Scorpio Mining Corporation has attempted to identify important factors
that could cause results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results to be materially different from those anticipated, described,
estimated, assessed or intended.
There can be no assurance that any forward-looking statements will
prove accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
Scorpio Mining Corporation does not undertake to update any
forward-looking statements that are incorporated by reference herein,
except in accordance with applicable securities laws.
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Copyright (c) 2008 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 Apr 23, 2008 at 2:56:18 PM Pacific Time
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