Mar 12, 2013
Scorpio Mining Appoints Chief Executive Officer
Toronto, March 12, 2013 - Scorpio Mining Corporation (TSX: SPM) ("Scorpio Mining" or the "Corporation") announces that Mr. Pierre Lacombe has been appointed President and Chief Executive Officer ("CEO"), effective April 22, 2013, and will also continue to serve as a director of the Corporation. Peter Hawley will resign as Interim President and CEO of the Corporation when Mr. Lacombe assumes his new position and remain a director of the Corporation.
Mr. Lacombe has over 28 years' experience in mining and mineral processing, including significant experience working in Latin America. Mr. Lacombe is a registered professional mining engineer (École Polytechnique, Montréal, Quebec) and is fluent in French, English and Spanish.
Mr. Lacombe is joining the Corporation from his current position of Vice-President, Project Development of Pershimco Resources. Prior to this, Mr. Lacombe spent 12 years as Principal Process Engineer for the international consulting firm, AMEC, contributing to project engineering for companies like Barrick, Kinross, Xstrata, BHP, Teck, Northgate, Aur Resources and Yamana on world-class projects in both North and South America. In addition, during this period Mr. Lacombe was involved with the metallurgical testing and design work that led to the construction of Scorpio Mining's Nuestra Señora processing plant.
Peter Hawley, Interim President and CEO commented, "The board of directors is very pleased that Pierre has accepted the position of President and CEO, given his extensive experience in mining and processing and his broad knowledge of the Corporation's business and assets gained from his current position as a director. Pierre has an established, strong relationship with Scorpio Mining's team, both in Canada and Mexico, and together with our new COO, Tom McGrail, he will oversee the continued advancement of the Corporation's development projects, plant expansion, and mine start-up at El Cajon."
Scorpio Mining Corporation is a silver producer operating in Mexico with significant base metal by-product credits. The 100% owned Nuestra Señora Mine in the Cosalá District of Sinaloa State, Mexico, has flexible mining methods and diversified metal production. It has a fully mechanized underground operation and a processing facility with capacity 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 Corporation has numerous exploration targets in the vicinity of its current operations and has recently updated its NI 43-101 compliant mineral resource estimates for the San Rafael and El Cajón development projects. The El Cajón deposit is scheduled for mine development upon receipt of permitting. Scorpio Mining also holds a 100% interest in the advanced, high-grade La Revancha silver and Tepozán silver-gold projects, both located in the productive Parral District within the respective states of Chihuahua and Durango, Mexico. The Company's strategy for near-term growth is currently focused on development and production of the El Cajón deposit.
Scorpio Mining's Interim President and CEO, Peter J. Hawley P. Geo., is a Qualified Person for the Corporation's Mexico projects and has reviewed and approved the content of this release.
ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
Interim President & CEO
For further information contact:
Victoria Vargas, Vice President Investor Relations and Corporate Communications +1 416-585-2200
Email: [email protected]
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
Email: [email protected]
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 the Company's operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. 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 Company's projects in Mexico, risks related to international operations, construction delays and cost overruns, 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 14, 2013. 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.