Santa Teresa Extension Continues to Produce High-Grade Results with 3.10 metres Grading 1,496 g/t Ag, 36.62% Zn, 2.88% Cu and 4.30% Pb within 13.8 metres of 385 g/t Ag, 9.50% Zn, 0.75%Cu and 2.09% Pb

Vancouver, March 18, 2008 - Scorpio Mining Corporation (TSX:SPM) is pleased to report additional underground drill results from the Santa Teresa Extension Zone at its 100% owned Nuestra Senora project, Sinaloa State, Mexico.

Peter J. Hawley, Chairman, CEO comments, “Due to its proximity to current underground development, good widths, and higher grades, the Santa Teresa Extension Zone has quickly moved up our medium-term mine planning schedule, as it could have a significant impact on providing higher-grade feed to the mill facility. The zone appears to be strongly enriched in mineralization proximal to the Sept 9 Zone, which is now interpreted as a possible mineralized feeder conduit for the Hoag, Santa Teresa and Nuestra Senora mineralized zones.“

Table 1. 9th Level Underground Drill Results - Santa Teresa Extension

Hole #
	

From

(m)
	

To

(m)
	

Length

(m)
	

Ag

(g/t)
	

Au

(g/t)
	

Cu

%
	

Pb

%
	

Zn

%
NS9L-07-106 	16.05 	29.85 	13.80 	385 	0.05 	0.75 	2.09 	9.50
Including 	16.05 	19.20 	3.15 	1496 	0.15 	2.88 	4.30 	36.62
Including 	26.20 	29.85 	3.65 	137 	0.04 	0.24 	4.03 	3.52

The Santa Teresa Extension Zone is parallel to and southeast of the Hoag Zone where most of the initial underground mining is expected to occur in 2008 and 2009. As shown on the Level 9 plan map (www.scorpiomining.com/s/NuestraSenora.asp), the Santa Teresa Extension and Hoag zones are linked by the Sept 9 Zone, where recent underground development on the 9th and 10th Levels has delineated impressive sulphide mineralization within the structure. The Sept 9 Zone appears to dip moderately towards the west and strikes approximately north-northwest. Given its trend, the Sept 9 Zone should intersect the east dipping Main Nuestra Senora Zone at depth. The hypothesis is that such an intersection could have resulted in a large dilation zone and potentially allowed for wide spread emplacement of mineralization.

Consistent with previously announced drill hole results (Tables 2 and 3), the Santa Teresa Extension continues to show good widths in most of the holes. The geometry of the currently defined lens suggests that it will be amenable to low-cost, long-hole mining. The Santa Teresa Extension Zone remains open up and down dip along the rake of the mineralization.

Table 2. Recently Announced Results from Levels 9 and 10 - Santa Teresa Extension

Hole #
	

From

(m)
	

To

(m)
	

Length

(m)
	

Ag

(g/t)
	

Au

(g/t)
	

Cu

%
	

Pb

%
	

Zn

%
NS9L-07-101 	35.60 	37.00 	1.40 	43 	0.01 	0.13 	0.50 	2.95
NS9L-07-102 	19.50 	55.00 	35.50 	88 	0.02 	0.20 	2.24 	2.12
Including 	19.50 	32.20 	12.70 	108 	0.02 	0.18 	2.45 	2.03
Including 	38.50 	41.80 	3.30 	217 	0.03 	0.98 	5.59 	5.15
Including 	44.60 	55.00 	10.40 	90 	0.03 	0.12 	2.57 	2.77
NS9L-07-103 	40.20 	61.40 	21.20 	132 	0.03 	0.60 	1.54 	2.99
Including 	36.40 	37.50 	1.10 	142 	0.03 	0.80 	1.43 	2.09
Including 	40.20 	43.10 	2.90 	585 	0.09 	1.69 	6.40 	11.90
Including 	47.60 	50.90 	3.30 	91 	0.02 	0.51 	0.63 	1.60
Including 	56.90 	61.40 	4.50 	123 	0.02 	0.97 	1.66 	3.91
NS9L-07-104 	2.30 	8.40 	6.10 	118 	0.02 	0.90 	5.47 	5.05
NS9L-07-105 	16.00 	20.85 	4.85 	40 	0.02 	0.06 	1.30 	3.77
NS9L-07-107 	24.00 	28.50 	4.50 	100 	0.03 	0.29 	2.89 	2.07
NS9L-07-108 	18.60 	47.30 	28.70 	121 	0.03 	0.45 	2.97 	3.57
NS9L-07-109 	0.00 	9.20 	9.20 	223 	0.02 	0.82 	4.75 	5.77
NS9L-07-86 	35.00 	48.00 	13.00 	186 	0.02 	0.18 	2.16 	9.65
NS9L-07-96 	28.40 	57.60 	29.20 	355 	0.09 	0.34 	1.62 	5.97
NS9L-07-97 	17.10 	27.20 	10.10 	269 	0.09 	0.46 	7.26 	7.04
NS10L-07-134 	13.50 	29.80 	16.30 	106 	0.03 	0.21 	0.28 	3.76
NS10L-07-139 	27.60 	35.30 	7.70 	247 	0.03 	0.31 	4.57 	2.20
NS10L-07-140 	14.10 	20.50 	6.40 	137 	0.02 	0.42 	1.57 	2.86
Including 	14.10 	15.30 	1.20 	71 	0.01 	0.04 	1.24 	1.29
Including 	17.80 	20.50 	2.70 	287 	0.04 	0.93 	3.08 	6.01
NS10L-07-149 	29.90 	37.40 	7.50 	54 	0.01 	0.08 	1.57 	1.46
Including 	29.90 	32.60 	2.70 	65 	0.01 	0.08 	2.14 	2.60
Including 	35.50 	37.40 	1.90 	80 	0.02 	0.13 	2.26 	1.28

Table 3. Other Previous Underground Results - Santa Teresa Extension

Hole #
	

From

(m)
	

To

(m)
	

Length

(m)
	

Ag

(g/t)
	

Au

(g/t)
	

Cu

%
	

Pb

%
	

Zn

%
NSUG-06-112 	94.48 	94.90 	0.42 	257 	0.06 	0.17 	4.71 	16.15
NSUG-06-119 	76.80 	96.30 	19.50 	51 	0.01 	0.23 	0.98 	2.73
Including 	76.80 	78.30 	1.50 	171 	0.03 	0.28 	7.54 	15.45
Including 	87.50 	96.30 	8.80 	82 	0.02 	0.46 	0.87 	3.37
NSUG-06-120 	88.00 	89.80 	1.80 	337 	0.03 	0.77 	13.45 	7.68
NSUG-06-121 	83.50 	84.90 	1.40 	134 	0.02 	1.00 	3.85 	4.33
NSUG-06-122 	76.50 	84.80 	8.30 	92 	0.03 	0.13 	2.95 	1.91
NSUG-06-123 	116.30 	119.50 	3.20 	74 	0.03 	0.27 	1.12 	1.31
NSUG-07-154 	58.10 	64.10 	6.00 	75 	0.01 	0.18 	2.70 	3.21
NSUG-07-172 	76.40 	78.80 	2.40 	80 	0.03 	0.02 	1.95 	4.72

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.