 |
 |
|
|
| |
Scorpio Mining Corporation Conference Call Notice to Discuss Nuestra Señora, Sinaloa State, México Pre-Feasibility Study
|
| |
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Vancouver, July 27, 2007 - Scorpio Mining Corporation (TSX:SPM) announces the public filing of the final Pre-Feasibility Study ("PFS") report on SEDAR on July 17, 2007.
To access the PFS go to SEDAR's website at www.sedar.com, click on "Company Profiles", click on the letter "S", scroll down until you get to "Scorpio Mining Corporation", click on "View Company public documents", click on the "Technical Report (NI 43-101) with date of filing July 17, 2007.
The company gives notice to its shareholders, financial institutes and any interested parties that a conference call to discuss the PFS results plus updates of advancement of the Nuestra Señora project and answer any questions will be held on Thursday August 2 at 1 PM (EST).
Those who wish to participate in the call please note the following:
Help is available upon request [Press * 0 for assistance].
Teleconferencing: CONFERENCE CALL numbers, ask for "Scorpio Mining Corporation".
Date: |
Thursday August 2, 2007 |
|
12:00 Noon (Mexico City); 1:00 PM (EST); 10:00
AM (PST); 6:00 PM (United Kingdom) |
Local Dial-In Number |
(416) 641-6113 |
Toll Free Dial-In Number |
(North America) 866-862-3908 |
Toll-Free Dial-In Number (Global) |
800-8989-6323 |
Conference ID: |
3230777 followed by # key |
Please note certain countries require the following numbers before the Global Toll-Free number: Australia - 0011; Germany, Switzerland, United Kingdom - 00.
If you cannot make the conference call, a replay of the call is available until August 31, 2007 at the following:
Date: |
Until Friday August 31, 2007 |
Local Dial-In Number |
(416) 695-5800 |
Toll Free Dial-In Number (North America) |
1-800-408-3035 |
Pass Code: |
3230777 followed by # key |
The Company has been given a mandate by its Board of Directors to proceed into production based on the review of the positive results from the PFS (see news release of June 14, 2007)
The PFS projects that the base case cash operating cost of producing silver at the Nuestra Señora project, after accounting for by-product credits, will be a negative US$0.98 per ounce produced, using discounted metal prices.
Peter J. Hawley, Chairman, CEO comments, "After reviewing the PFS and given the project's strong economics, particularly the current metal price scenario which shows a 60.7% Internal Rate of Return (IRR), along with the upside potential to increase mineral reserves and resources, it is the Company's view that we have to get this project into production as soon as possible to take advantage of the current strong metal prices. With the recent additional staffing of a Mill Superintendent, Mill Construction Manager, Chief Production Geologist and the awarding of mill construction contracts we are in a position to aggressively push the project forwards towards commencement of production as scheduled for March, 2008. We look forward to providing ongoing updates of our surface exploration results, underground development and exploration work and our progress on the mill facility construction as we approach the start up time line."
President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified Person for the Nuestra Señora project. Mr. Scammell is responsible for the current exploration and development program and has reviewed the content of this release.
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. |
|
|
|
|
