Scorpio Mining to Release 2011 Annual and Fourth Quarter Financial

TSX:SPM

News Release No. 302 March 19, 2012

Scorpio Mining to Release 2011 Annual and Fourth Quarter Financial Statements and MD&A on March 27, 2012

Toronto, March 19, 2012 – Scorpio Mining Corporation (TSX: SPM) ("Scorpio Mining" or the "Corporation") plans to file its audited consolidated financial statements and management’s discussion and analysis for the year ended December 31, 2011 on SEDAR (www.sedar.com) on March 27, 2012.

About Us

Scorpio Mining Corporation is a silver producer operating in Mexico with significant base metal byproduct credits. The 100% owned Nuestra Señora Mine and plant located in the Cosalá District of Sinaloa State, Mexico, has proven to be a low-cost operation with the benefit of flexible mining methods and diversified metal production. It boasts a fully mechanized underground operation and a processing facility built for expansion to 4,000 tonnes per day. The plant produces zinc, copper and lead concentrates; with a significant silver component in the copper and lead concentrates. In addition, the company has over 40 exploration targets mostly in the vicinity of its current operations. The Corporation also holds a 100% interest in the prospective La Revancha silver and Tepozán silver-gold projects in the Parral District of Chihuahua State, Mexico.The Corporation’s strategy focuses on exploring and developing its existing mineral properties.

ON BEHALF OF SCORPIO MINING CORPORATION

Parviz Farsangi President & CEO

For further information contact:

Victoria Vargas, Vice President Investor Relations and Corporate Communications +1 416-585-2200 Email: [email protected] Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)

Email: [email protected]

Suite 606 - 40 University Ave. Toronto, ON M5J 1T1 Tel: 416-585-2200 Fax: 416-585-8026 www.scorpiomining.com