Scorpio Mining Appoints Chief Operating Officer

TSX: SPM

TORONTO, March 3, 2013 /CNW/ - Scorpio Mining Corporation (TSX: SPM) ("Scorpio Mining" or the "Corporation") today announced the appointment of Mr. Thomas (Tom) McGrail to the position of Chief Operating Officer ("COO") effective March 1, 2013. Mr. McGrail brings over 35 years of leadership and has a track record of successfully managing open-pit and underground operations including 18 years in Latin America.

In his leadership role at Scorpio Mining, Mr. McGrail will be responsible for the technical and operating aspects of the Corporation's 100% owned assets in Mexico. His expertise will be instrumental in advancing the pipeline of development projects and ensuring the smooth development, commissioning and operation of the El Cajón project.

Mr. McGrail, who will be based out of Scorpio Mining's Mexican office, holds a B.Sc. from Dalhousie University, Nova Scotia and B.Eng. from the Technical University of Nova Scotia. Tom has a proven track record of optimizing challenging mining operations by building goal-oriented teams with priorities in areas of safety and production. Prior to joining Scorpio, Tom was General Manager of the Mulatos Mine for Alamos Gold. His previous positions include Vice-President of Operations for Aura Minerals with responsibility for their San Andres open-pit mine in Honduras and the Aranzazu underground mine in Mexico, consultant to Cia Minera de Caldas, S.A., General Manager for Desarrollo Minera de Nicaragua, S.A., and President and General Manager of HEMCO de Nicaragua, S.A.

Peter Hawley, Interim President and CEO commented, "We are very pleased to have attracted a person of Tom's caliber to the Scorpio Mining team. Tom's wealth of experience in developing and operating mines will be invaluable as we progress with our near-term development projects like El Cajón and advance other projects into the development pipeline."

In addition to this appointment, the Corporation expects to announce a new CEO in early April, 2013.

About Us

Scorpio Mining Corporation is a silver producer operating in Mexico with significant base metal by-product credits. The 100% owned Nuestra Señora Mine in the Cosalá District of Sinaloa State, Mexico, has flexible mining methods and diversified metal production. It has a fully mechanized underground operation and a processing facility with capacity for expansion to 4,000 tonnes per day. The plant produces zinc, copper and lead concentrates, with a significant silver component in the copper and lead concentrates. In addition, the Corporation has numerous exploration targets in the vicinity of its current operations and has recently updated its NI 43-101 compliant mineral resource estimates for the San Rafael and El Cajón development projects. The El Cajón deposit is scheduled for mine development upon receipt of permitting. Scorpio Mining also holds a 100% interest in the advanced, high-grade La Revancha silver and Tepozán silver-gold projects, both located in the productive Parral District within the respective states of Chihuahua and Durango, Mexico. The Company's strategy for near-term growth is currently focused on development and production of the El Cajón deposit.

Scorpio Mining's Interim President and CEO, Peter J. Hawley P. Geo., is a Qualified Person for the Corporation's Mexico projects and has reviewed and approved the content of this release.

ON BEHALF OF SCORPIO MINING CORPORATION

Peter J. Hawley
Interim President & CEO

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 Company's operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. 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 development and operation of the Company's projects in Mexico, 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, risks relating to completing acquisition transactions 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, 2012. 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.

SOURCE: Scorpio Mining Corporation

Victoria Vargas, Vice President Investor Relations and Corporate Communications [phone]
Email: [email protected]
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
Email: [email protected]

Website: www.scorpiomining.com