Scorpio Mining Announces Appointment �of
Jonathan Berg Resignation of Roger Scammel
Toronto, January 21, 2011 �
Scorpio Mining Corporation (TSX:SPM) ("Scorpio
Mining" or the "Corporation") announced today that Jonathan Berg
has been appointed to the Corporation�s Board of Directors (the
"Board"), effective January 20, 2011. Mr. Berg replaces Roger Scammell who resigned from the Board, effective on the same
date..
Mr. Berg has more than 35
years� experience in finance and investments. Most recently, he was VP Finance
of PeriCor Therapeutics, Inc., a small
bio-pharmaceutical start-up, where he was responsible for the various medical
support and business activities of the company; during that same time period,
he was also the non-executive Chairman of Colombia Goldfields, Ltd. Formerly,
Mr. Berg was President, CIO, and founder of Berg Capital Corporation, a
registered investment advisor, based in NYC. He has been involved with the
start up of several companies, acting as a consultant on finance and corporate
structure; he has assisted in the funding of early stage companies in the
fields of energy, technology, healthcare, and consumer electronics. Prior to
Berg Capital, he held positions as VP/ Portfolio Manager with Oppenheimer
Capital Corporation, and Standard & Poor�s InterCapital.
He holds a B.S. from the University of California, Berkeley, and an MBA from
the Wharton School of Finance at the University of Pennsylvania..
Mr. Scammell
has been a Board member since May 2005. Mr. Scammell
has contributed to the development of the Corporation over the past several
years, culminating in the emergence of Scorpio Mining as a sustainable
producing mining company with new leadership and with an exciting growth
strategy.
As previously announced,
Peter Hawley assumed the role of non-executive Chairman effective January 1,
2011. Mr. Hawley added, "We are very pleased to welcome Mr. Berg to the
Board. In addition, we thank Roger for his hard work, support and contributions
developing Scorpio Mining to what it is today and wish him the best in his
future endeavours."
The Corporation also
announced today that Parviz Farsangi,
the Corporation�s Chief Executive Officer, has been appointed as President and
Chief Executive Officer and will continue to lead the Corporation with this new
title.
ON BEHALF OF
SCORPIO MINING CORPORATION
Parviz Farsangi
President and Chief Executive Officer
For further information
contact:
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North
America)
Email: rkaiser@scorpiomining.com