Press Release Source: Standard & Poor's
[urlStandard & Poor's Initiates Factual Stock Report Coverage
on Scorpio Mining
Monday June 30, 9:33 am ET
NEW YORK--(BUSINESS WIRE)--Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on Scorpio Mining Corporation.
Scorpio Mining Corporation (TS:SPM) acquires, explores and develops mineral resource properties in Mexico and Canada. The company's mineral properties include Nuestra Senora in Sinaloa State, Mexico; Cochrane Hill and Caribou in Nova Scotia, Canada; and Lac Arsenault in Quebec, Canada. The most significant and Scorpio Mining's primary business focus is the Nuestra Senora property.
The Nuestra Senora Project, located east of the town of Cosala in the State of Sinaloa, Mexico, comprises four mineral exploitation claims encompassing 1,281 hectares and six mineral exploration claims encompassing 14,174 hectares. Scorpio Mining's wholly owned Mexican mining subsidiary, Minera Cosala SA de CV, holds 100% ownership of the Nuestra Senora mineral rights, with no underlying royalties or property payments.
Nuestra Senora is a poly-metallic silver-zinc-lead-copper deposit located in the Cosala Mining District in the State of Sinaloa, Mexico. The project is scheduled for commercial production in the beginning of the third quarter of 2008.
During the quarter ended March 31, 2008, Scorpio Mining continued to focus its exploration, development and construction activities on the Nuestra Senora deposit. As of March 31, 2008, the ore stockpile inventory at the mill site consisted of 79,000 tonnes.
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Scorpio Mining Corporation:
Gilbert Comtois, 819-825-7618
Standard & Poor's:
Richard Albanese, 212-438-3647
Michael Privitera, 212-438-6679
Source: Standard & Poor's