Scorpio Mining Acquires Additional Mineral Concessions in Cosalá District and Outlines 2011 Exploration Plans

TORONTO, March 17 /CNW/ --
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TSX:SPM

TORONTO, March 17 /CNW/ - Scorpio Mining Corporation (TSX:SPM) ('Scorpio
Mining' or the 'Corporation') is pleased to announce the acquisition of
important mineral concessions in the Cosalá District, Sinaloa, Mexico,
and outlines exploration plans for the remainder of 2011.

On March 16, 2011 the Corporation signed an agreement to acquire mineral
concessions totalling 1,387 ha (13.87 km(2)) from a subsidiary of Grupo Mexico S.A.B. de C.V. ('Grupo Mexico') for
a cash payment of US$615,000. Grupo Mexico retains a 1.25% Net Smelter
Return.

This acquisition further consolidates the Corporation's extensive land
position in the Cosalá District, totalling 29,161 ha and spanning an
area of ~23 km by 19 km. The newly acquired concessions are adjacent
and/or close to several important resource areas and exploration
targets, including the San Rafael, El Cajón and Los Venados deposits,
and the El Simon target.

Exploration plans for the remainder of 2011 include surface and
underground diamond drilling on multiple deposits/targets in the Cosalá
District, Sinaloa and on projects in the Parral District, Chihuahua.
Exploration drilling will include:

    --  10,500 metres of underground drilling at the Nuestra Señora
        Ag-Zn-Cu-Pb mine;
    --  2,800 metres of underground drilling at the La Verde Ag-Cu-Au
        mine;
    --  5,000 metres of surface drilling to test several early-stage
        Ag-Cu-Pb-Zn-Au exploration targets in the Cosalá District; and,
    --  Up to 7,000 metres of surface drilling at the La Revancha and
        Tepozán projects in Parral, Chihuahua.

Parviz Farsangi, President & CEO reports, 'Scorpio Mining is very
fortunate to hold such a large land position in a relatively unexplored
area, which is proven to host economic deposits and contains an
abundance of promising early-stage exploration targets. We believe the
potential to advance our known deposits and to make new discoveries is
excellent. The upcoming aggressive exploration programs complement a
determined effort to grow Scorpio Mining by developing its own assets.
We are confident we have the projects and the people to reach this next
stage of success.'

Further information about Scorpio's projects in the Cosalá and Parral
districts is available on the Corporation's web site at: www.scorpiomining.com.

Scorpio Mining's Senior Exploration Geologist, Will Strong, B.S., P.G.,
is a Qualified Person for the Corporation's Mexico projects and has
reviewed the content of this release.  

ON BEHALF OF SCORPIO MINING CORPORATION 

Parviz Farsangi


President & CEO

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 and future
performance. 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 29, 2010. 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.

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Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
Email: rkaiser@scorpiomining.com