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Scorpio's Drilling of the New Hoag Zone Continues to Return Wide Intersections and Comparable Grades of Mineralization 8/21/2006 VANCOUVER, Aug. 21, 2006 (Canada NewsWire via COMTEX News Network) -- TSXV:SPM Scorpio Mining Corporation (TSXV:SPM) is pleased to report drill results from an additional nine 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. Of the 24 holes drilled and reported to date, all have been successful at intersecting significant mineralization, with the majority of holes reporting very wide intersections. The true width of the zone in the vicinity of the 9th and 10th Levels is estimated at 40 metres. Peter J. Hawley, President, CEO reports, "Our preliminary understanding of the Hoag Zone and its relation to other deposits in the area is that a series of stacked thrust faults provided the main conduit for mineralizing fluids. Subsequent deformation along the thrust faults created dilational zones, which provided wider structural traps for the emplacement of mineralization. Within the Nuestra Senora deposit, reactivation along the thrust faults also allowed for multiple episodes of mineralization, which could account for higher silver grades within that deposit. So far our testing of the upper levels of the Hoag Zone indicates only one mineralizing event took place, but that the structure is opening at depth. Based on our current model, there is good potential for deeper mineralization within the Hoag Zone to more closely resemble that of the adjacent Nuestra Senora deposit." << TABLE 1. Hoag Zone Drill Results - 9th Level; Drill Station 980 ------------------------------------------------------------------------- Hole No. Dip From To Length Ag Au Cu Pb Zn (Deg) (m) (m) (m) (g/t) (g/t) % % % ------------------------------------------------------------------------- NS-UG-06-79 -65 58.10 77.20 19.10 62.60 0.05 0.22 2.40 5.21 ------------------------------------------------------------------------- NS-UG-06-80 -34 43.50 47.40 3.90 45.28 0.04 0.32 1.24 2.60 ------------------------------------------------------------------------- 63.00 71.20 8.20 86.06 0.06 0.21 1.46 1.13 ------------------------------------------------------------------------- NS-UG-06-81 -26 60.30 90.00 29.70 70.17 0.02 0.18 1.65 2.10 ------------------------------------------------------------------------- Including 60.30 64.90 4.60 208.52 0.04 0.25 3.26 1.13 ------------------------------------------------------------------------- Including 84.90 90.00 5.10 64.57 0.01 0.20 2.61 5.82 ------------------------------------------------------------------------- NS-UG-06-82 -75 61.90 71.10 9.20 137.38 0.08 0.19 2.56 3.33 ------------------------------------------------------------------------- NS-UG-06-83 -45 31.20 55.00 23.80 67.65 0.14 0.33 2.20 3.77 ------------------------------------------------------------------------- Including 33.00 41.20 8.20 91.55 0.19 0.44 3.18 6.23 ------------------------------------------------------------------------- Including 51.20 54.00 2.80 93.61 0.14 0.77 3.94 6.07 ------------------------------------------------------------------------- NS-UG-06-84 -55 10.60 12.10 1.50 31.80 0.07 0.06 1.75 3.87 ------------------------------------------------------------------------- 30.20 34.00 3.80 26.34 0.05 0.09 1.17 1.94 ------------------------------------------------------------------------- 39.30 66.80 27.50 58.63 0.07 0.26 2.57 3.77 ------------------------------------------------------------------------- 39.30 55.20 15.90 68.36 0.09 0.33 2.87 4.35 ------------------------------------------------------------------------- 57.80 66.80 9.00 56.62 0.03 0.21 2.72 3.74 ------------------------------------------------------------------------- NS-UG-06-85 -65 31.60 61.90 30.30 42.66 0.05 0.19 1.90 2.92 ------------------------------------------------------------------------- Including 31.60 35.90 4.30 46.72 0.10 0.09 2.67 3.95 ------------------------------------------------------------------------- Including 38.50 41.70 3.20 50.44 0.05 0.29 1.93 3.67 ------------------------------------------------------------------------- Including 42.80 61.90 19.10 46.57 0.04 0.22 2.01 2.96 ------------------------------------------------------------------------- NS-UG-06-86 -77 39.70 42.70 3.00 26.33 0.05 0.09 1.12 1.49 ------------------------------------------------------------------------- 44.70 45.80 1.10 42.00 0.054 0.102 1.93 2.06 ------------------------------------------------------------------------- 48.70 54.40 5.70 49.91 0.05 0.25 2.76 4.21 ------------------------------------------------------------------------- 64.40 66.80 2.40 22.33 0.02 0.05 0.90 2.05 ------------------------------------------------------------------------- 73.50 81.00 7.50 75.55 0.13 0.28 3.14 2.73 ------------------------------------------------------------------------- NS-UG-06-87 -34 19.00 22.90 3.90 23.41 0.03 0.05 1.17 2.24 ------------------------------------------------------------------------- 31.70 49.60 17.90 70.21 0.13 0.31 3.26 3.85 ------------------------------------------------------------------------- Drill hole data reflect down hole core lengths and actual (uncut) grades. >> Preliminary plan and longitudinal sections showing the location of the new zone relative to the Nuestra Senora deposit and underground workings is available on the Scorpio Mining web site at: https://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] Copyright (C) 2006 CNW Group. All rights reserved.