Scorpio Receives Mill Facility Construction Completion Certificate And Provides A Project Update On The Nuestra Senora Project, Sinaloa State, Mexico

Vancouver, March 31, 2008 - Scorpio Mining Corporation (TSX:SPM) is pleased to provide an update on its progress toward production at the 100% owned Nuestra Senora project, Sinaloa State, Mexico.

Peter J. Hawley, Chairman, CEO comments, "The Scorpio team is extremely proud to have reached completion of the Nuestra Senora mill facilities. Considering that the initial ground breaking for the mill facility was on August 1, 2007, attaining this milestone within a period of only 8 months is an achievement that demonstrates the know-how and dedication of the Scorpio team. This extraordinary fast track time line is particularly impressive given current mining industry shortages of supplies, components, and experienced professionals including trades people. In addition to this feat, the Company also cleared and constructed a tailings dam impoundment area, a 34 kilometre power line, 4.8 km water line, mine personnel living complexes and 4.3 km of by-pass road, all while underground development and stockpiling of mineralized material continues to progress. At the same time the geological team has recently delineated some new discoveries and controls of high-grade mineral emplacement that is expected to significantly enhance the grade of the mill throughput in the future, as well as offer more flexibility in mine planning."

Project Update

Mill Construction

* As of March 27, 2008 the Company has received the mill facility construction completion certificate sign off from Exergy Engineers & Constructors Inc. who has overseen the mill construction and pre-commissioning and will oversee the commissioning.

* From this point in time the Company will proceed with 8 scheduled weeks of verification of the equipment and mill commissioning. This will include approximately 2 weeks of final verification confirming that all equipment is mechanically sound, and that electrical panels / wiring is correctly installed. This will be followed by powering up the facility to check on motors, etc. This is to be followed by the initial ore processing including further commissioning for the first three months (April -- June) during which time mill throughput will average 500 tonnes per day. The purpose of this preliminary production is to determine the reagent consumption and maximize the recovery of metals. Following these steps, throughput will be increased to 1,000 tonnes per day commencing July 2008.

* Construction of the Company´s 100% owned, dedicated 34 kilometre power line from the main hydro dam to the mill facility has been fully completed, including the building of an electrical sub-station and is expected to go live on April 1st, 2008.

* The two 1 million litre water tanks are full and ready for processing start up. It is anticipated that 80% of the water used will be recovered for re-cycling in the process.

* Ore stockpile inventory as of the end of February 2008 was as follows: Stockpile 1: 52,148 tonnes grading 69g/t Ag, 0.08g/t Au, 0.25% Cu, 1.42% Pb, and 2.55% Zn. Stockpile 2: 22,724 tonnes (assay results pending)


By Pass Road - Housing

* The 4.3 kilometre Cosala by-pass road has been completed. This road was used for moving oversized mill equipment, trailers, etc. for installation at the mill facility and the future transfer of daily metal concentrates to smelters without impacting the town of Cosala with heavy traffic.

* Construction work on the permanent facility camp is 75% complete; final details in progress consist of completion of the installation of doors and windows, roof tiles and exterior and interior painting. Sewage lines have been connected to Cosala´s municipal system with fresh water now being connected.

* When finished the camp will initially house 48 persons in 16 houses and the site allows expansion for further construction. This facility is being built on 14 hectares of land that Company has purchased which is ideally situated on both sides of the Company´s Cosala by-pass road. This purchase of the land is a cost effective measure allowing the Company to build houses for personnel and construct its own core logging and equipment storage facilities rather than rent these facilities.

* Currently land is being cleared and prepared for the construction of a main central office, core logging and equipment storage facilities which will allow the Company to relocate its entire support staff to the new facility.


Tailings Pond and Dam Construction

* Tailings dam construction has been completed for Phase 1 (first year of production).

* The bottom of the tailings receiving pond has been completed and the geo-membrane installation is in progress. The tailing facility is now ready to receive material from the milling process.

* The contouring of the tailings pond area for the second phase (years 2 -- 5) is in progress.


Water Supply for the Mill

* A water supply system consisting of a well by the river, a storage tank, a pumping station, and a 4.8 km pipe line to the mill is under construction. The pipeline construction is at 90% completion.

* The pipe line consists of a six inch diameter steel pipe along the road with cement holding supports and anchors whereas the cement water well holding tank consists of an 18 inch diameter steel pipe under the river bed with three different pipe water feeders which feed the well. In addition, a backup supply of excess clean mine water can also be pumped from Level 6 of the mine into the storage tank. The entire infrastructure is 95% complete. The Habitas river flows all year long thus insuring a constant flow of water available for the milling process even in the driest months.

* The staging storage tank has been constructed on site.

* The cement work for the pump station is completed.

* Although it is planned to re-circulate some 80% of the process water, the water supply system will have the capacity to supply 100% of the mill needs.


Underground Development

* As of the end of March 2008, a total of 6,769.5 meters of development were done which includes cross-cut and access points of 4 x 4 meters. Of this total, 1,804.0 meters of ramp (section of 4 x 5 meters) have been excavated.

* During one 10-hour shift, the Company is currently capable of moving over 1550 tonnes of waste/ore from stope development and preparation activities in three zones to the mill site. This only requires eight 12 cubic meter trucks completing 82 trips per shift which supports management´s view that the Company can easily haul from underground the initial 1,000 tonnes per day projected for mill feed.

* The initial full-scale mining is planned to start from the lower grade Hoag zone where primary and secondary blocks have been outlined. Each primary block contains approximately 23,000 tonnes on level 10.5 and between 30,000 to 45,000 tonnes on level 10. Long-hole drilling of the blocks from the Level 10 to Level 10.5 (15 metres) began in February 2008, with the first blasting of blocks begun in March 2008. In addition, five blocks have been excavated at the bottom and the top and two of these blocks are currently ready for long-hole drilling, development is ongoing to prepare the others.

* The Alimak ventilation raise from the 6th Level of the Nuestra Senora mine to the Candelaria mine has been completed and installation of the vent fan system will be completed by July.

* The up ramp from the 3rd Level of the Nuestra Senora mine to the Candelaria Mine (located 175 meters vertically above) has advanced 220 meters of the overall 470 meters required to connect with the above Candelaria Mine ramp. Once connect this will allow the Company to access the high-grade Candelaria mineralization for the blending of mill feed to increase mill head grades.


Surface and Underground Exploration

* The Company currently has three underground diamond drills performing in-fill delineation drilling for areas of exploitation as well as exploration drilling which is also targeting the zones outlined by the recent successful surface drilling of the Santa Teresa and Santo Domingo satellite deposits, and based on new exploration models established from ongoing underground structural mapping. Recent exploration results in the Santa Teresa Extension and below the Main Northwest Zone (Jewel Box area) have been surpassing our expectations.

* On February 18th, 2008 the Company completed a geophysical program of down-hole pulse electrical magnetic (DHPEM) surveying to determine if this system will accurately locate known mineralized bodies within the Nuestra Senora Project. The survey was successful in identifying the known ore bodies, particularly in the Main Zone. This tool is expected to greatly enhance our exploration efforts in underexplored and/or structurally complex areas.

* The Company is in the final stages of signing commercial smelter agreements and once finalized will inform the public during the next month.


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.


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, development activities and production expectations and related 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, continued availability of capital and financing, and general economic, market or business conditions.