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Scorpio Mining Reports Record 2011 Production Results and 2012 Guidance for Nuestra Señora

Friday, January 27th

Scorpio Mining Corporation (TSX: SPM.TO) ("Scorpio Mining" or the "Corporation") is pleased to report that the 2011 production results for the Nuestra Señora mine in Mexico confirm a second successive year of silver production growth for the Corporation. Production of all key metals increased substantially over 2010, as mine metal output, plant throughput and recoveries improved.
Parviz Farsangi, President and CEO comments, "I wish to thank the board, the management team and staff for their contributions to Scorpio mining's success over the past two years. 2011 was another record production year for Scorpio Mining, resulting from a number of key improvements to both mining and plant operations. This strong performance allowed Scorpio Mining to reach a debt-free status in the second quarter. We continue to focus our efforts on our strategic projects: La Verde, San Rafael and El Cajón; and on increasing the mineral reserves at our current operating mine. These resources are integral to our next step up in production, which will come with the expansion of our existing plant, and to our decision on an additional plant in future. Also, to take advantage of our significant exploration potential, we have increased our budget accordingly to approximately $9.3 million for 2012."

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