Americas Gold and Silver Corporation T.USA

News- Hoag increases

[etwhite]

Scorpio's Hoag Zone Drilling Continues to Outline a Large Mineralized Body at Depth VANCOUVER, Oct. 5, 2006 (Canada NewsWire via COMTEX News Network) -- TSXV:SPM Scorpio Mining Corporation (TSXV:SPM) reports drill results from an additional eight holes into the Hoag Zone, a recently discovered, large mineralized body located adjacent to the Nuestra Senora deposit and situated approximately 20 metres from the main decline ramp. All 30 holes drilled and reported to date have returned broad mineralized intersections from the zone, which continues to be open at depth. At present another 11 holes have been drilled and are awaiting assay results. Peter J. Hawley, President, CEO reports, "The true definition of a deposit is when you can consistently drill hole after hole without missing and that is what we have been doing. The Hoag Zone remains open at depth and to the northeast and is consistently mineralized. The body continues to become more similar to that of the Nuestra Senora deposit as the depth increases. The stacked thrust faults that control the mineralizing events have increasing potential for hosting multiple bodies. The knowledge regarding the mineralization and its structural controls gained from the underground drilling will assist in directing the surface exploration program to evaluate the Santo Domingo, the Santa Teresa and other showings. This program will start at the end of 2006. The Company continues to believe that new zones are waiting to be discovered and it is just a matter of systematic drilling." << TABLE 1. Hoag Zone Drill Results - 9th Level; Drill Station 980 ------------------------------------------------------------------------- Hole Dip From To Length Ag Au Cu Pb Zn No. (Deg) (m) (m) (m) (g/t) (g/t) % % % ------------------------------------------------------------------------- NS-UG-06-94 -44 31.40 39.60 8.20 93.20 0.12 0.16 3.31 4.34 ------------------------------------------------------------------------- Including 32.30 37.50 5.20 116.33 0.12 0.21 4.20 5.54 ------------------------------------------------------------------------- 42.80 45.20 2.40 46.00 0.15 0.35 2.28 4.50 ------------------------------------------------------------------------- 49.60 54.70 5.10 22.88 0.05 0.06 1.10 1.65 ------------------------------------------------------------------------- NS-UG-06-95 -55 28.80 44.00 15.20 52.73 0.13 0.23 1.45 2.71 ------------------------------------------------------------------------- Including 40.40 42.80 2.40 64.00 0.09 0.30 2.19 5.12 ------------------------------------------------------------------------- 50.70 54.10 3.40 73.26 0.06 0.24 3.07 4.48 ------------------------------------------------------------------------- NS-UG-06-96 -65 32.90 50.60 17.70 89.31 0.14 0.35 3.30 4.31 ------------------------------------------------------------------------- NS-UG-06-97 -76 37.00 43.40 6.40 63.47 0.08 0.50 2.25 2.26 ------------------------------------------------------------------------- 70.70 77.20 6.50 44.82 0.03 0.18 1.68 2.22 ------------------------------------------------------------------------- NS-UG-06-98 -35 31.10 38.70 7.60 60.29 0.05 0.20 2.97 3.94 ------------------------------------------------------------------------- 41.50 42.80 1.30 156.00 0.124 0.018 1.24 0.03 ------------------------------------------------------------------------- NS-UG-06-99 -45 28.90 35.70 6.80 59.97 0.15 0.09 2.71 3.19 ------------------------------------------------------------------------- Including 28.90 32.90 4.00 73.50 0.17 0.11 3.83 5.00 ------------------------------------------------------------------------- 50.40 54.10 3.70 77.08 0.11 0.23 2.54 3.82 ------------------------------------------------------------------------- NS-UG-06-100 -55 27.50 37.90 10.40 67.23 0.17 0.09 1.76 2.20 ------------------------------------------------------------------------- Including 35.40 37.00 1.60 228.00 0.41 0.22 2.95 2.94 ------------------------------------------------------------------------- 44.40 56.50 12.10 54.83 0.11 0.17 2.09 2.65 ------------------------------------------------------------------------- Including 51.40 56.50 5.10 75.49 0.15 0.13 2.90 4.19 ------------------------------------------------------------------------- NS-UG-06-101 -65 29.60 38.80 9.20 104.07 0.16 0.31 2.66 4.68 ------------------------------------------------------------------------- Including 32.00 37.50 5.50 135.35 0.21 0.49 3.49 6.91 ------------------------------------------------------------------------- 42.90 46.90 4.00 47.48 0.09 0.09 2.07 2.43 ------------------------------------------------------------------------- 50.60 53.50 2.90 37.31 0.11 0.19 1.76 2.06 ------------------------------------------------------------------------- 55.70 62.10 6.40 38.48 0.08 0.15 1.68 1.85 ------------------------------------------------------------------------- Drill hole data reflect down hole core lengths and actual (uncut) grades. >> Underground channel sampling has now been completed on the 8th and 9th Levels and is currently in progress on the 10th Level. A longitudinal section showing the location of the Hoag Zone relative to the Nuestra Senora deposit and underground workings is available at: www.scorpiomining.com/s/NuestraSenora.asp. Vice President, Exploration & Development, 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 the preparation of all technical information provided in this release. All technical information for the Nuestra Senora property is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Samples are shipped to the ALS Chemex preparation laboratory in Hermosillo, Mexico for drying, crushing and pulverizing. ALS Chemex, Hermosillo then sends the pulps by air-freight to ALS Chemex, Vancouver for assaying. Systematic assaying of standards and blanks are performed for precision and accuracy; check assays are regularly conducted by SGS Lakefield Research. Details of the QA/QC program are available on the Company's website at www.scorpiomining.com. ON BEHALF OF SCORPIO MINING CORPORATION Peter J. Hawley President & CEO The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this news release. This discussion includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, 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 successes, continued availability of capital and financing, and general economic, market or business conditions. SOURCE: Scorpio Mining Corporation Glenn Little, Jackson Little Holdings Ltd: [phone]; 1-888-930-4375, Email: [e-mail]; Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America), Email: [e-mail]