Scorpio Mining Corporation

Scorpio Mining Corporation Pre-Feasibility Update

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Vancouver, May 28, 2007 - Scorpio Mining Corporation (TSX:SPM) (the "Company") wishes to update its shareholders with respect to the advancement of the ongoing Pre-Feasibility level studies on the Nuestra Senora silver-zinc project, Mexico.

A meeting was held on May 16, 2007 with all engineering firms involved in the study. Genivar, the independent firm which is coordinating the work and final report, has informed us that the results from the study will be presented to the Company by the first week of June at the latest.

While the Company is not in a position to report specific results of the study until it is finalized, no significant adverse issues have arisen to date that would in management's view impact on the viability of the planned mine at Nuestra Senora, Mexico.

The results of the study will be released upon receipt and internal review of the report in a timely fashion.

Chairman, CEO, Peter J. Hawley reports; "The Company is looking forward to the final results of the study and being able to make them available to the public as soon as possible. The study has been delayed by the same problem that everyone in the mining sector is facing, overload of third party firms doing the studies due to an increase in demand in the mining sector for such independent work."

The study will address, expand on and include the following criteria:

New NI 43-101 Reserve/Resource - reserve/resource study reporting both reserves in the proven and probable categories and resources in the measured and indicated categories. Inferred resources will not be included in the report as they cannot, under NI 43-101, be included in studies of mine economics.
Mining Operations - information and assumptions concerning the mining method(s), metallurgical processes and production forecast.
Recoverability - information concerning results of all tests and operating results relating to the recoverability of the metal commodities and amenability of the mineralization to the proposed processing methods.
Markets - information concerning the markets for the company's forecast production.
Environmental Considerations - a discussion of environmental bond posting (if required), remediation and reclamation.
Capital and Operating Cost estimates - capital and operating cost estimates with major cost components broken out.
Economic Analysis - an economic analysis with cash flow forecasts on an annual basis using proven and probable mineral reserves only, and sensitivity analyses with variants in metal prices, grade, capital, operating costs and payback period of capital.
Mine Life - a discussion of the expected mine life and exploration potential.

Further information on the Company and the Nuestra Se�ora project is available on the Scorpio Mining web site at: www.scorpiomining.com.

ON BEHALF OF SCORPIO MINING CORPORATION

Peter J. Hawley
Chairman & 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

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration success, continued availability of capital and financing, and general economic, market or business conditions.