VANCOUVER, June 16/CNW/ - Scorpio Mining Corporation (TSX: SPM) is pleased to announcethat its Mexican subsidiary, Minera Cosala SA de CV, has entered intoan Agency Agreement with Ocean Partners U.S.A., Inc. for the marketingworldwide of its production concentrates from the 100% owned NuestraSenora mine, Sinaloa State,Mexico . Withthe assistance of Ocean Partners, Scorpio expects to finalizearrangements for the offtake and smelter of its lead and zincconcentrates from Nuestra Senora within the next few weeks.Commissioning of the processing mill at Nuestra Senora is expected tobe completed byJuly 2008.
Ocean Partners is a global trader of copper, zinc and lead concentrates with its main offices in the United Kingdom and the United Statesand with a network of other offices and agents throughout the world.Ocean acts primarily as a principal in its trading activities, but alsoselectively as marketing agent for a number of mining companies,including Scorpio Mining Corporation.
President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified Person for the Nuestra Senora project 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" within the meaning of the United StatesPrivate Securities Litigation Reform Act of 1995 and applicableCanadian securities legislation. Forward-looking statements include,but are not limited to, statements with respect to the timing ofdevelopment and production activities at the Nuestra Senora Project andScorpio Mining Corporation's commitment to, and plans for developingthe Nuestra Senora Project. Generally, these forward-looking statementscan 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 notanticipate", or "believes", or variations of such words and phrases orstatements that certain actions, events or results "may", "can","could", "would", "might", or "will be taken", "occur" or "beachieved". Forward-looking statements are subject to known and unknownrisks, uncertainties and other factors that may cause the actualresults, level of activity, performance or achievements of ScorpioMining Corporation to be materially different from those expressed orimplied by such forward-looking statements, including but not limitedto: risks related to the exploration and potential development andconstruction of the Nuestra Senora Project, risks related tointernational operations, construction delays and cost overruns, theactual results of current exploration, development and constructionactivities, conclusions of economic evaluations, changes in projectparameters as plans continue to be refined, future prices of silver,zinc, copper, lead and gold, as well as those factors discussed in thesections relating to risk factors of our business filed in ScorpioMining Corporation's required securities filings on SEDAR, includingits Annual Information Form datedMarch 26, 2008. Although Scorpio Mining Corporation has attempted to identifyimportant factors that could cause results to differ materially fromthose contained in forward-looking statements, there may be otherfactors that cause results to be materially different from thoseanticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements willprove accurate, as actual results and future events could differmaterially 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 anyforward-looking statements that are incorporated by reference herein,except in accordance with applicable securities laws.
For further information: Glenn Little, Jackson Little Holdings Ltd:(604) 930-4375, 1-888-930-4375, Email: jlconsulting@telus.net; RichKaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outsideNorth America), Email: yes@yesinternational.com
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