Santa Teresa Deposit Continues to Deliver with Underground Drilling Reporting 9.20 metres grading 223 g/t Ag, 5.77% Zn, 0.82% Cu, 4.75% Pb and 0.020 g/t Au

Vancouver, February 28, 2008 - Scorpio Mining Corporation (TSX:SPM) is pleased to report additional underground drill results targeting the Santa Teresa deposit from the 10th, 9th and 6th Levels of the Nuestra Senora ramp of its 100% owned Nuestra Senora project, Sinaloa State, Mexico.

The Santa Teresa deposit mineralization is exposed at river level approximately 150 metres northeast of the Santo Domingo and 250 metres east of the Nuestra Señora deposit, both of which also outcrop at river level. The Candelaria deposit outcrops on the canyon wall 150 metres above the river level between the Santa Teresa and the Nuestra Señora deposits.

Peter J. Hawley, Chairman, CEO comments, "The results presented in Tables 1-3 below are from horizontally drilled holes collared approximately 90 to 210 metres vertically from surface. With the recent and continued success of the drilling of the Santa Teresa deposit, significant mineralization is being defined that will be readily accessible to the main haulage ramp for cost-effective extraction."

Table 1. 10th Level Underground Drill Results - Santa Teresa

Hole #
	

From

(m)
	

To

(m)
	

Length

(m)
	

Ag

(g/t)
	

Au

(g/t)
	

Cu

%
	

Pb

%
	

Zn

%
NS10L-07-145 	1.50 	4.50 	3.00 	119 	0.070 	0.16 	0.03 	0.18
  	14.90 	18.10 	3.20 	114 	0.081 	0.19 	0.08 	0.03
NS10L-07-149 	49.60 	50.90 	1.30 	117 	0.014 	0.04 	1.66 	0.53

Table 2. 9th Level Underground Drill Results - Santa Teresa

Hole #
	

From

(m)
	

To

(m)
	

Length

(m)
	

Ag

(g/t)
	

Au

(g/t)
	

Cu

%
	

Pb

%
	

Zn

%
NS9L-07-100 	24.10 	27.20 	3.10 	95 	0.007 	0.02 	3.33 	3.35
  	97.40 	99.00 	1.60 	257 	0.231 	0.92 	0.37 	0.03
NS9L-07-101 	12.80 	14.90 	2.10 	142 	0.020 	0.47 	0.98 	4.55
NS9L-07-102 	19.50 	32.20 	12.70 	108 	0.024 	0.18 	2.45 	2.03
  	38.50 	55.00 	16.50 	105 	0.033 	0.29 	2.86 	2.94
NS9L-07-103 	11.70 	19.80 	8.10 	68 	0.016 	0.17 	2.37 	2.25
  	35.30 	43.10 	7.80 	251 	0.043 	0.76 	2.82 	5.25
  	47.60 	62.50 	14.90 	70 	0.018 	0.50 	0.90 	1.94
NS9L-07-104 	2.30 	8.40 	6.10 	118 	0.020 	0.90 	5.47 	5.05
  	33.30 	38.75 	5.45 	109 	0.029 	0.30 	2.14 	1.22
NS9L-07-108 	18.60 	47.30 	28.70 	121 	0.031 	0.45 	2.97 	3.57
NS9L-07-109 	0.00 	9.20 	9.20 	223 	0.020 	0.82 	4.75 	5.77
  	27.60 	29.80 	2.20 	140 	0.047 	0.42 	2.50 	1.56

Table 3. 6th Level Underground Drill Results - Santa Teresa

Hole #
	

From

(m)
	

To

(m)
	

Length

(m)
	

Ag

(g/t)
	

Au

(g/t)
	

Cu

%
	

Pb

%
	

Zn

%
NS6L-07-15 	82.30 	84.30 	2.00 	149 	0.194 	0.92 	0.43 	0.05
NS6L-07-124 	94.30 	99.80 	5.50 	76 	0.147 	0.21 	1.59 	1.98
  	103.70 	115.00 	11.30 	114 	0.222 	0.29 	1.01 	1.00
  	117.50 	126.00 	8.50 	68 	0.217 	0.32 	1.28 	3.78
  	139.30 	145.90 	6.60 	89 	0.265 	0.19 	3.73 	3.78

Drillhole data in the tables reflect 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 Señora 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 Señora 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 Señora 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.


ON BEHALF OF SCORPIO MINING CORPORATION

Peter J. Hawley
Chairman & CEO



For further information contact:
Glenn Little, Jackson Little Holdings Ltd: 604-930-4375; 1-888-930-4375
Email: jlconsulting@telus.net
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
Email: yes@yesinternational.com



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 or development 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, mine development priorities, continued availability of capital and financing, and general economic, market or business conditions.