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Re: News Releases - Monday, June 16, 2008
Scorpio's Mexican Subsidiary Enters Into Agency Agreement for
Marketing of Production Concentrates from the Nuestra Senora
Mine, Mexico
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Vancouver, June 16, 2008 - Scorpio Mining Corporation (TSX: SPM) is
pleased to announce that its Mexican subsidiary, Minera Cosala SA de
CV, has entered into an Agency Agreement with Ocean Partners U.S.A.,
Inc. for the marketing worldwide of its production concentrates from
the 100% owned Nuestra Senora mine, Sinaloa State, Mexico. With the
assistance of Ocean Partners, Scorpio expects to finalize arrangements
for the offtake and smelter of its lead and zinc concentrates from
Nuestra Senora within the next few weeks. Commissioning of the
processing mill at Nuestra Senora is expected to be completed by July
2008.
Ocean Partners is a global trader of copper, zinc and lead concentrates
with its main offices in the United Kingdom and the United States and
with a network of other offices and agents throughout the world. Ocean
acts primarily as a principal in its trading activities, but also
selectively as marketing agent for a number of mining companies,
including Scorpio Mining Corporation.
President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified
Person for the Nuestra Senora project and has reviewed the contents 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 timing of
development and production activities at the Nuestra Senora Project and
Scorpio Mining Corporation's commitment to, and plans for developing
the Nuestra Senora 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
statements 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 Senora 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 Fri Jun 13, 2008 at 1:30:21 PM Pacific Time
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