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SCORPIO MINING CORP Scorpio Hits 5.2 metres of 171.96 g/t Ag, 11.36% Zn, 2.27% Cu, 4.81% Pb and 0.11 g/t Au within 19.10 metres grading 105.50 g/t Ag, 4.49% Zn, 1.05% Cu, 1.95% Pb and 0.08 g/t Au 2/26/2007 VANCOUVER, Feb. 26, 2007 (Canada NewsWire via COMTEX News Network) -- TSX:SPM Scorpio Mining Corporation (TSX:SPM) is pleased to report results of additional drilling from the 8th Level of the Nuestra Senora Silver-Zinc Project, targeting areas peripheral to the Nuestra Senora mineralized body. Peter J. Hawley, Chairman, CEO reports, "The drilling continues to demonstrate the robust nature of the project and the potential to continue to expand the resource base. It is interesting to note that variation of grades within the Nuestra Senora deposit, as indicated by previous drill results and the recent ones in Table 1, will permit considerable flexibility of future mineral extraction even with fluctuating metal prices. As a consequence of current prices, the mine planning of stope layouts is underway and designed to extract the mineralized material, commencing with the Hoag Zone, by bulk mining methods. This technique allows for large volumes of material to be removed at lower cost." << Table 1 - 8th Level Drill Results ------------------------------------------------------------------------- Hole No. From To Length Ag Au Cu Pb Zn (m) (m) (m) (g/t) (g/t) % % % ------------------------------------------------------------------------- NS8L-06-37 8.40 12.70 4.30 92.02 0.12 0.81 0.67 2.31 ------------------------------------------------------------------------- Including 10.90 11.80 0.90 180.00 0.39 1.51 2.89 9.00 ------------------------------------------------------------------------- 31.00 32.10 1.10 90.00 0.07 0.55 1.38 4.77 ------------------------------------------------------------------------- 100.50 108.40 7.90 156.61 0.42 0.05 1.04 1.25 ------------------------------------------------------------------------- Including 101.90 103.10 1.20 558.00 0.08 0.05 2.51 0.44 ------------------------------------------------------------------------- 111.60 118.60 7.00 69.46 0.14 0.09 1.50 2.52 ------------------------------------------------------------------------- Including 111.60 112.90 1.30 86.00 0.06 0.22 1.73 7.43 ------------------------------------------------------------------------- 124.40 125.30 0.90 70.00 0.19 0.22 1.68 2.50 ------------------------------------------------------------------------- NS8L-06-38 3.60 5.10 1.50 144.40 0.05 0.99 0.70 6.54 ------------------------------------------------------------------------- 18.10 37.20 19.10 105.50 0.08 1.05 1.95 4.49 ------------------------------------------------------------------------- Including 18.10 19.40 1.30 396.00 0.21 2.77 2.98 4.38 ------------------------------------------------------------------------- Including 27.30 28.20 0.90 239.00 0.09 2.88 2.86 10.95 ------------------------------------------------------------------------- Including 32.00 37.20 5.20 171.96 0.11 2.27 4.81 11.36 ------------------------------------------------------------------------- Including 33.60 37.20 3.60 229.89 0.12 3.07 6.47 15.10 ------------------------------------------------------------------------- 89.00 90.10 1.10 129.00 0.05 0.01 0.55 0.20 ------------------------------------------------------------------------- 94.30 95.30 1.00 111.00 0.10 0.01 0.38 0.11 ------------------------------------------------------------------------- NS8L-06-39 0.00 4.50 4.50 52.56 0.05 0.36 0.27 1.62 ------------------------------------------------------------------------- Including 3.50 4.50 1.00 130.00 0.14 0.88 0.53 3.07 ------------------------------------------------------------------------- 12.00 14.20 2.20 112.00 0.09 0.81 2.73 3.94 ------------------------------------------------------------------------- 18.80 22.30 3.50 229.40 0.39 0.96 1.54 4.64 ------------------------------------------------------------------------- Including 21.70 22.30 0.60 674.00 1.26 3.35 5.22 20.30 ------------------------------------------------------------------------- 28.50 29.80 1.30 122.00 0.03 0.13 0.33 0.16 ------------------------------------------------------------------------- 44.40 45.15 0.75 128.00 0.02 1.20 3.89 7.87 ------------------------------------------------------------------------- 56.20 63.15 6.95 196.55 0.31 1.44 4.08 8.29 ------------------------------------------------------------------------- Including 60.65 63.15 2.50 191.84 0.26 1.15 6.42 12.56 ------------------------------------------------------------------------- 75.20 76.30 1.10 114.00 0.35 0.01 0.29 0.06 ------------------------------------------------------------------------- 78.50 85.70 7.20 188.81 0.16 0.05 0.58 3.09 ------------------------------------------------------------------------- Including 82.90 85.70 2.80 350.13 0.28 0.05 0.93 5.43 ------------------------------------------------------------------------- 88.30 89.50 1.20 219.00 0.14 0.01 0.79 0.09 ------------------------------------------------------------------------- NS8L-06-40 34.50 37.00 2.50 91.60 0.23 0.57 3.06 3.29 ------------------------------------------------------------------------- Including 36.00 37.00 1.00 136.00 0.33 0.93 5.11 6.07 ------------------------------------------------------------------------- NS8L-06-41 42.50 47.00 4.50 135.00 0.32 1.28 0.36 2.22 ------------------------------------------------------------------------- Including 42.50 44.50 2.00 150.50 0.44 2.53 0.69 4.27 ------------------------------------------------------------------------- Including 46.00 47.00 1.00 285.00 0.39 0.55 0.08 0.84 ------------------------------------------------------------------------- >> Drill hole data in the table reflects down hole core lengths and actual (uncut) grades. True widths cannot be reliably estimated at this time. Further information on the Company and the Nuestra Senora project is available on the Scorpio Mining web site at: www.scorpiomining.com. 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 content of 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 the 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. 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. 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) 2007 CNW Group. All rights reserved.