Scorpio Reports on Mineralized Stockpile for Initial Mill Throughput at Nuestra Senora



    TSX:SPM

    VANCOUVER, Feb. 26 /CNW/ - Scorpio Mining Corporation (TSX:SPM) is
pleased to provide an update on the mineralized stockpile material awaiting
mill start up at the Company's 100% owned Nuestra Senora Project, Sinaloa
State, Mexico.
    Peter J. Hawley, Chairman, CEO reports, "We now have over 64,041 tonnes
stockpiled on surface awaiting mill start up, which puts us in a strong
position to stay ahead of the initial required mill feed. The current
stockpile includes a mix of lower grade development material and is well
suited for the initial mill commissioning and required fine tuning for optimal
metal recovery. With formal stoping in progress and more stringent grade
controls in place, less dilution will occur and head grades will increase.
This higher-grade material will be used as mill feed once the mill facility is
running at maximum recovery."
    As of November 30, 2007, Stockpile No. 1 contained 52,148 tonnes at an
average capped grade of 69 g/t silver, 0.08 g/t gold, 0.25% copper, 1.42% lead
and 2.55% zinc based on 438 samples taken (Table 1). A capping grade of
552 g/t silver, 0.5 g/t gold, 2.83% copper, 6.77% lead and 11.80% zinc was
used based on the 95th percentile of all core assay results in 2007.
    Prior to September 2007, a total of 140 samples were collected directly
from the existing surface stockpile from 28 backhoe pits, 2 to 2.5 metres in
depth, using a 10 metre by 10 metre reference grid across the stockpile. Five
samples were taken from the top to bottom of each sample hole. The grades
obtained from this sampling were very homogenous with only 4 samples (3%)
requiring capping. The capped grade of the pre-September 2007 stockpile was
61 g/t silver, 0.08 g/t gold, 0.21% copper, 1.41% lead and 2.39% zinc. The
remaining 298 samples were taken underground on a daily basis from ongoing ore
development, with a total of 5 representative muck samples taken from each
round. Of these, 24 samples were capped (8%), which again reflects the
homogeneity of the ore.
    Grades obtained from muck sampling during the months of September and
October (Table 1) are somewhat higher due to the greater percentage of
mineralized material coming from the Main Nuestra Senora zone development
compared to the lower-grade Hoag zone.

    
             Table 1. Development Stockpile No. 1 - Metal Grades

             -------------------------------------------------------
             Sampling              Ag      Au     Cu     Pb     Zn
                                 (g/t)   (g/t)    (%)    (%)    (%)
             -------------------------------------------------------
             Pre-September 2007    61     0.08   0.21   1.41   2.39
             -------------------------------------------------------
             September 2007       129     0.13   0.63   1.58   3.66
             -------------------------------------------------------
             October 2007          67     0.07   0.13   1.42   3.12
             -------------------------------------------------------
             November 2007         68     0.08   0.21   1.33   2.11
             -------------------------------------------------------
             Average               69     0.08   0.25   1.42   2.55
             -------------------------------------------------------
    

    Since January 31, 2008, development material has been being stockpiled in
a separate area (Stockpile No. 2) and consists of an additional 11,893 tonnes.
Complete assay results are pending.
    President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified Person
for the Nuestra Senora project. Mr. Scammell is responsible for the current
exploration and development program and has reviewed the contents of this
release.

    ON BEHALF OF SCORPIO MINING CORPORATION

    Peter J. Hawley
    Chairman & CEO

    This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this news release, 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 success, continued availability of capital and financing, and
general economic, market or business conditions.




For further information:

For further information: 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

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