Scorpio Provides December 2008 - January 2009 Update 2 hours ago - ACQUIREMEDIA TSX:SPM VANCOUVER, Feb. 9 /CNW/ - Scorpio Mining Corporation (TSX:SPM) announces achievement of commercial production and provides operational updates for December 2008 and January 2009 for the 100% owned Nuestra Senora mine, Sinaloa State, Mexico. Peter J. Hawley, Chairman, CEO reports, "January was our first month of official commercial production at the Nuestra Senora mine and the month's performance was very productive and cost efficient for the Company. When compared with the 2009 budgeted costs, mill throughput rates, concentrate production and recoveries, the Scorpio Team has outperformed expectations. This plus the stability in the base metal prices and the increase in the silver price has generated greater revenues and helped to contribute to a solid performance for the start of 2009. Nuestra Senora operational details for the last two months are as follows;" << December and January 2009 Concentrate Synopsis -------------------- 2008 2009 December January ------------------------------------... Lead Concentrate Shipped (tonnes) 139 140 ------------------------------------... Zinc Concentrate Shipped (tonnes) 0* 574 ------------------------------------... Cu/Pb Concentrate Shipped (tonnes) 419 0* ------------------------------------... * zinc concentrate shipped in lots of 500 tonnes or greater ------------------------------------... Lead Concentrate Inventory (tonnes) 126 147 ------------------------------------... Copper Concentrate Inventory (tonnes) 69 195 ------------------------------------... Cu/Pb Concentrate Inventory (tonnes) 132 354 ------------------------------------... Zinc Concentrate Inventory (tonnes) 852 595 ------------------------------------... ------------------------------ 2008 2009 2009 December January Budget ------------------------------------... Tonnes Mined 2,120 6,952 5,750 ------------------------------------... Tonnes Milled 11,424 12,183 11,500 ------------------------------------... Days Milling 16 16 17 ------------------------------------... ------------------------------ Average Mill Recoveries ----------------------- ----------------------------------- Ag (%) 85% 89% 84% ----------------------------------- Pb (%) 85% 87% 79% ----------------------------------- Cu (%) 82% 81% 67% ----------------------------------- Zn (%) 80% 78% 83% ------------------------------------... January 2009 Update - The Company achieved official commercial production the 7th of January 2009. - All-in Mexican operations costs for mining, milling and administration for January were $30.12 per tonne (budgeted $37.11 per tonne). - Mill throughput per month in January reached 12,185 tonnes per month (budgeted 11,500 tonnes) for the 16 days of milling or 762 tonne per day. - Recoveries at the mill increased to 87% for Pb (78.5% budgeted), 81% for Cu (66.5% budgeted), 78% for Zn (83% budgeted) and 89% (83.5% budgeted) for Ag. - High grade ore extracted from the mine totalled 6,952 tonnes which was mixed at a 1:1 ratio with the development ore from stockpile No.1 (January month end inventory of 48,113 tonnes) in order to provide a balanced feed grade to the mill and to maintain consistent concentrate recoveries. >> Additional company data and photos are available at the Company's web site at: www.scorpiomining.com. President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified Person for the Nuestra Senora project. Mr. Scammell has reviewed the content of this release. All technical information for the Nuestra Senora property is obtained and reported under a formal quality assurance and quality control (QA/QC) program. All samples other than underground muck 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 the 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 >> 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 metal prices and Scorpio Mining Corporation's commitment to, and plans for developing the Nuestra Senora Project. 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 potential development and construction of the Nuestra Senora Project, 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, 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 26, 2008. 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.