Dec 15, 2011
Scorpio Mining Appoints James M. Stonehouse as Vice President of Exploration
Toronto, December 15, 2011 - Scorpio Mining Corporation (TSX: SPM) ("Scorpio" or the "Corporation") has appointed James M. Stonehouse as the Corporation's Vice President of Exploration, based in Mexico, effective January 3, 2012.
Mr. Stonehouse holds an M.A. in Geology from Dartmouth College, Hanover, New Hampshire. He is a professional and highly skilled geologist with over 30 years of experience in exploration, primarily focused in the Americas and on precious and base metal deposits. He is fluent in Spanish and has successfully led multiple teams through grass roots exploration to discovery stage, resource evaluation, feasibility study and development. His ability to recognize and re-evaluate geological settings and design successful exploration programs has resulted in significant discoveries that have increased resources and added satellite ore deposits to existing operations. Mr. Stonehouse is experienced in managing all aspects of exploration and resource development, including turnaround projects that brought sub-valued assets to economic status and production.
Mr. Stonehouse is a registered member of SME and a registered Geoscientist in the State of California, and is a Qualified Person as defined by National Instrument 43-101.
Parviz Farsangi, President and CEO of the Corporation, commented: "We are delighted to have James as part our dedicated team as Scorpio moves forward with its plans for growth. His extensive experience and expertise will be of great value to the Corporation as we continue to explore, develop and expand our portfolio of projects in the Cosalá and Parral Districts of Mexico.
Scorpio Mining Corporation is a silver producer operating in Mexico with significant base metal by-product credits. The 100%-owned Nuestra Senora Mine and plant located in the Cosalá district of Sinaloa State, Mexico, has proven to be a low-cost operation with the benefit of flexible mining methods and diversified metal production. It boasts a fully mechanized underground operation and a processing facility built 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 company has over 40 exploration targets mostly in the vicinity of its current operations. The Corporation also holds a 100% interest in the prospective La Revancha silver and Tepozán silver-gold projects in the Parral District of Chihuahua State, Mexico.The Corporation's strategy focuses on exploring and developing its existing mineral properties.
ON BEHALF OF SCORPIO MINING CORPORATION
President & CEO
For further information contact:
Victoria Vargas, Vice President Investor Relations and Corporate Communications +1 416-585-2200
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
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 production, objectives, strategy, mine operations, exploration, future performance and forecasts, our management team, and plans. 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 Nuestra Señora and La Verde projects, risks related to international operations, construction delays and cost overruns, equipment breakdowns, 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 30, 2011. 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.