Scorpio Announces Grant of Incentive Stock Options
 
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Vancouver, March 6, 2007 - Scorpio Mining Corporation (TSX:SPM) ) (the "Company") wishes to announce that its Board of Directors has granted an aggregate of 3,400,000 incentive stock options to directors, officers and employees of the Company, subject to shareholder and regulatory approvals. The options are exercisable to acquire 3,400,000 common shares at an exercise price of $1.88 per share.

ON BEHALF OF SCORPIO MINING CORPORATION

Peter J. Hawley
President & 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


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