Silver Copper Lead Zinc Producer in Mexico TSX: SPM OTC: SMNPF - - PowerPoint PPT Presentation

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Silver Copper Lead Zinc Producer in Mexico TSX: SPM OTC: SMNPF - - PowerPoint PPT Presentation

TSX: SPM Silver Copper Lead Zinc Producer in Mexico TSX: SPM OTC: SMNPF October , 2013 Frankfurt: SZ7 1 TSX: SPM Cautionary Statement Frankfurt: SZ7 Forward Looking Statements: This presentation includes certain statements that may be


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Silver Copper Lead Zinc

Producer in Mexico

TSX: SPM

October , 2013

OTC: SMNPF Frankfurt: SZ7

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Cautionary Statement

Forward Looking Statements: This presentation includes certain statements that may be deemed “forward-looking statements” within the meaning of the Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the Company’s operations, exploration and development plans, expansion plans, estimates, expectations, forecasts,

  • bjectives, predictions and projections of the future. Generally, these forward-looking statements can be identified by the forward-looking terminology such as

“plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “projects”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or “variations of such words and phrases or state that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Scorpio Mining Corporation to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of the Company’s projects in Mexico, risks related to international operations, construction delays and cost overruns, the actual results of current exploration, development and construction activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of silver, zinc, copper, lead and gold, risks relating to completing acquisition transactions as well as those factors discussed in the sections relating to risk factors of our business filed in Scorpio Mining Corporation’s required securities filings on SEDAR. Although Scorpio Mining Corporation has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Scorpio Mining Corporation does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. Cautionary Note to U.S. Investors Concerning Estimates of Inferred Resources: This presentation uses the term “Inferred Resources”. U.S. investors are advised that while this term is recognized and required by Canadian regulations, the Securities and Exchange Commission does not recognize it. “Inferred Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of “Inferred Resources” may not form the basis of feasibility or other economic studies. U.S. investors are also cautioned not to assume that all or any part of an “Inferred Mineral Resource” exists, or is economically or legally mineable. Qualified Person: The technical information contained within this presentation has been reviewed and approved by the Company's President and CEO, Pierre Lacombe, Eng., a Qualified Person as defined by NI 43-101.

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Scorpio at a Glance – What do we do?

  • Operating the underground Nuestra Señora

Mine in Sinaloa since 2008

  • Mechanized mining , 70% from long-holes,

30% by jumbo drifting

  • Operating a 1,600 tpd processing plant , through

differential flotation

  • Producing Ag-rich Pb and Cu concentrates,

as well as Zn concentrate

  • Gearing for development of second underground

mine- El Cajón

  • Studying development options and timeline for
  • ther deposit with know resources – San Rafael
  • Exploring land package in the Cosalá District
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Scorpio at a Glance – Where are we?

  • Operations located in the State of Sinaloa,

Mexico

  • In the Sierra Madre range
  • 2-hour drive, by paved road, from

Mazatlán to town of Cosalá

  • 10 km by dirt road from Cosalá to mine

site

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Scorpio at a Glance – Who are we?

Management Team

Pierre Lacombe, President, CEO & Director

BEng, Eng.

Thomas McGrail, COO

BSc, BEng.

Hemdat Sawh, CFO

BSc (Geology), MBA, CA

John A. Sadek, Mexico Country Manager

  • Beng. (Mining), MAusIMM

James M. Stonehouse, VP Exploration

MA (Geology), PGeo

Victoria Vargas, VP Investor Relations and

Corporate Communications HBSc (Economics), MBA

  • Over 28 years’ experience in mining and mineral processing
  • VP Project Development, Pershimco; Principal Process Engineer, AMEC;

Director of Metallurgy, Cambior Chile; Plant Superintendent, Aur Resources

  • Over 35 years’ experience in underground and open pit mining operations
  • General Manager, Mulatos Mine , Alamos Gold ; VP Operations, Aura

Minerals Inc.

  • Over 20 years’ experience with publicly listed junior mining companies
  • CFO, Crystallex International Corporation; CFO, Goldbelt Resources Ltd.
  • VP Operations, San Gregorio Project; Mining Manager, Ernest Henry Mine
  • Mine Superintendent – West Operations, Minera Yanacocha
  • Over 30 years’ experience in exploration and resource development
  • VP Exploration, Channel Resources Ltd.; VP Operations, Frontier Mining
  • Over 20 years’ experience with publicly listed mining companies
  • VP Investor Relations and Corporate Communications Greystar Resources,

Romarco Minerals, Alamos Gold, Kinross Gold Corp.

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Scorpio at a Glance – Who are we?

Our Employees

  • About 345 full-time employees in Mexico, plus 50 contractors
  • Administrative offices in Mazatlán
  • Technical Services, Operations and Exploration offices in Cosalá
  • 95% of our workforce is Mexican, with some “expatriates” actually coming from other South American countries

and the Caribbean

  • 85% of our workforce is from Cosalá
  • Trained by Scorpio as miners, plant operators, etc.
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Scorpio at a Glance

198.6M Shares Outstanding 12.5 M Options

(CAD$0.98 weighted strike price)

CAD$23.8 M (1) Cash Position 11.3 M Shares in Scorpio Gold

(TSXV:SGN)

Analyst Coverage

  • Mackie Research
  • Clarus Securities

(1)

As of June 30, 2013

Directors

Ewan Mason, HBSc, MBA – Chairman of the Board Peter J. Hawley, BSc, BEng, PGeo Pierre Lacombe, BEng, Eng. Jonathan Berg, BS, MBA Thomas Weng, B. Arts and Economics

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Cosalá District – Organic Growth

Major Landholder

  • 2010 Platte River Acquisition increased Scorpio’s

holdings in the Cosalá District by >10,000 hectares to a total of 26,819 hectares spanning ∼19 km x 23 km

  • Multiple exploration targets including historically

producing mines

Advanced Deposits

  • El Cajón and San Rafael development projects with

NI 43-101 compliant mineral resources

  • Previously operating La Verde Mine

Mineralization

  • Carbonate replacement, skarn & structurally controlled
  • Silver-copper-lead-zinc +/- gold e.g. Nuestra Señora, Candelaria, Santa Teresa, Santo Domingo
  • Silver-lead-zinc e.g. San Rafael Main
  • Silver-copper-gold e.g. El Cajón, San Rafael 120
  • Silver-gold e.g. San Rafael Upper
  • Silver-copper e.g. La Verde
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2012 & 2013 YTD Report Card

  • Cash flow from operating activities
  • $15.6 million in 2012 ● $1.8 million in H1 2013
  • Cash cost per silver payable oz.
  • $11.93 in 2012 ● $14.85 in H1 2013
  • Cash on hand as of June 30, 2013
  • $23.8 million

Financial

  • Focused on decreasing costs and increasing efficiencies to reduce overall cost per tonne of

material mined and processed

  • Implemented a number of changes in the Nuestra Señora processing plant to increase overall

quality and value of concentrates produced

  • Initiating contract-mining at La Verde

Operations

  • Completed Phase I of the Nuestra Señora plant expansion to eventually increase capacity by 80%

to 2,750 tpd

  • Received environmental approval to operate existing plant to maximum of 4,000 tpd
  • Concluded land lease agreements for Cosalá Norte District
  • Received EIS approval for exploitation of El Cajón and San Rafael underground deposits
  • Received updated Nuestra Señora Reserve estimate
  • Received positive PEA on exploitation of the Nuestra Señora, El Cajón and San Rafael deposits

Growth & Expansion

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Production Highlights

* Silver equivalent ounces (Aq eq) are based on budgeted metal prices of: Ag US$24/oz., Zn US$0.90/lb., Pb US$0.90/lb., Cu US$3.50/lb.

Annual 2012 H1 2013

Average Daily Throughput

1,429 tpd 1,486 tpd

Recovered Silver in all Concentrates

1.2 M oz. 0.47 M oz.

Recovered Zinc in Zinc Concentrate

16.5 M lbs. 6.1 M lbs.

Recovered Copper in Copper Concentrate

1.6 M lbs. 0.73 M lbs.

Recovered Lead in Lead Concentrate

6.6 M lbs. 3.13 M lbs.

Silver Equivalent oz.* Recovered in all Concentrates

2.3 M oz. 0.94 M oz.

Silver 58% Lead 10% Zinc 22% Copper 10%

2012 Revenue Breakdown H1 2013 Revenue Breakdown

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Nuestra Señora Reserves Situation

Nuestra Señora Mineral Reserves Estimate – Dec 31, 2012

Category Tonnes x1000 Silver (g/t) Zinc (%) Lead (%) Copper (%) Silver x 1000 (oz.) Zinc x 1000 (lbs) Lead x 1000 (lbs) Copper x 1000 (lbs) Proven 89 164.5 3.29 1.50 0.50 470 6,448 2,932 976 Probable 333 186.6 3.14 1.64 0.47 1,997 23,052 12,026 3,416 Proven & Probable 422 181.9 3.17 1.61 0.47 2,467 29,500 14,958 4,393 Fully Diluted Proven & Probable 533 98.2 1.74 0.88 0.25 1,683 20,411 10,378 2,997 This mineral reserve estimate was prepared by MDA using a $60/tonne NSR value cut-off and metal prices of $25/oz. Ag, $0.85/lb. Zn, $0.90/lb. Pb, and $3.40/lb. Cu. A NI 43-101 technical report to support this estimate was filed on SEDAR on May 22, 2013.

Restated Nuestra Señora’s Reserves:

  • Leaving one year of production, at current plant throughput
  • Historically, up to 50% of actual mine production coming from outside of reserve envelope
  • Mining to concentrate more on fringes of deposit, Candelaria zone and remaining secondary

stopes, per backfill placement schedule

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Nuestra Señora Reserves Situation

Potential for Additional Resources at Nuestra Señora:

  • Mineralization mined to date concentrated along faults
  • Typically, faulting indicates limit of mineralization
  • Near-perpendicular fault systems creating pockets of ore near fault intercepts
  • Half of polygon formed by known faults explored to date – Fermin fault interpreted in 2012
  • Additional exploration may allow to find displaced mineralization on other side of fault lines

Regional scale fault Local mineral controlling fault Late fault Mineralized zone North Mine Intrusive

U D D U NW M5 M4 M3 M2 D U M1 ? AA U M6 D M7 ?

250 m

350 m

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Opportunities for Organic Growth

PEA Case Timeline:

  • Continued mining from Nuestra Señora of 1.5 million

tonnes, adding ~3.5 years of production, at reduced throughput

  • Underground mining of the El Cajón deposit commencing

in 2013, complementing Nuestra Señora’s output

  • Expansion of process plant from 1,500 to 2,750 tonnes

per day completed at end of 2014

  • Open pit mining of the San Rafael deposit commencing in

2015 and gradually increasing as Nuestra Señora and then El Cajón mines are depleted

  • Underground mining at San Rafael commencing with

completion of mining at El Cajón (2018)

  • Mining in San Rafael open pit continues on its own from

2021 to 2023

And:

  • 26,819 hectares of wholly-owned mineral concessions in

the Cosalá district

  • Over 40 exploration targets on these concessions
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Preliminary Economic Assessment (PEA)

Financial Highlights over Life of Project:

  • 10.2 million tonnes processed through an 11 year project life (2013-2023)
  • Total silver equivalent ounces produced
  • 40.3 million ounces
  • Total net revenue
  • $863.1 million
  • Total operating costs
  • $480.6 million
  • Total capital cost
  • $85.3 million (incl. sustaining of $40 million)
  • Total cash flow
  • $229.8 million
  • NPV (5%)
  • $166.7 million
  • After-tax rate of return
  • 151%

The PEA is based on Measured, Indicated, and Inferred resources in Nuestra Señora, El Cajón and San Rafael deposits. A PEA is preliminary in nature and includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied that would enable them to be classified as mineral reserves. There is no certainty that the PEA scope and/or timeline will be realized.

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PEA Resources & Material Processed

Category Tonnes x 1,000 Gold (g/t) Silver (g/t) Zinc (%) Lead (%) Copper (%) Gold x 1000 (oz.) Silver x 1000 (oz.) Zinc x 1000 (lbs) Lead x 1000 (lbs.) Copper x 1000 (lbs.) Measured 2,208 0.14 107.1 3.57 1.57 0.02 10 7,603 173,627 76,483 1,006 Indicated 6,537 0.14 120.3 2.07 0.84 0.22 30 25,271 298,384 121,484 32,304 Inferred 982 0.06 155.8 1.42 0.63 0.49 2 4,920 30,726 13,749 10,596

Mineral Resources Included in the PEA by Resource Classification – Dec 31, 2012

Category Tonnes x 1,000 Gold (g/t) Silver (g/t) Zinc (%) Lead (%) Copper (%) Gold x 1000 (oz.) Silver x 1000 (oz.) Zinc x 1000 (lbs) Lead x 1000 (lbs) Copper x 1000 (lbs) Underground Nuestra Señora 1,461

  • 99.5

1.63 0.78 0.28

  • 4,675

52,475 25,142 9,049 El Cajón 2,319 0.21 144.3

  • 0.47

15 10,760

  • 24,053

San Rafael 120 Zone 518 0.12 151.5

  • 0.41

2 2,523

  • 4,668

Open Pit (San Rafael) Main & Upper zones 5,474 0.13 94.1 3.61 1.49

  • 23

16,563 435,276 179,443

  • 120 Zone

438 0.17 149.8

  • 0.41

2 2,110

  • 3,933

Material Processed in the PEA by Deposit – Dec 31, 2012

The mineral resource estimates included in the PEA were prepared by MDA using a $60/tonne NSR value cut-off and metal prices of $25/oz. Ag, $0.85/lb. Zn, $0.90/lb. Pb, $3.40/lb. Cu and $1,400/oz. Au. Mineral resources do not include internal dilution, ore loss, or external dilution by waste tonnage at zero grades. Material Processed in the PEA does include allowances for dilution and ore loss. Mineral resources that are not mineral reserves do not have demonstrated economic viability. A NI 43-101 technical report to support the PEA was filed on SEDAR on May 22, 2013.

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El Cajón Development Project

  • Silver-copper-gold skarn deposit
  • 10 km, by modified road alignment, to Nuestra

Señora processing facility

  • Received EIS approval; awaiting Change of Land

Use permit

  • Definitive engineering for mine development

completed by JDS Energy & Mining

  • Positive PEA study envisions +5 year mine life
  • PFS with conversion to reserves for Q1 2014
  • Commencing production in Q1 of 2014,

ramping up through Q2 Preliminary Mine Development Model Deposit in Plan & Cross Section View

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El Cajón Resource Estimate

Category Tonnes x 1,000 Gold (g/t) Silver (g/t) Copper (%) Gold X 1000 (oz.) Silver x 1000 (oz.) Copper X 1000 (lbs) Indicated 2,597 0.21 149.1 0.48 18 12,451 27,742 Inferred 850 0.17 121.8 0.41 5 3,331 7,679

El Cajón Mineral Resource Estimate – Sept 7, 2012

This updated mineral resource estimate was prepared by MDA using a 60 g/t Ag eq cut-off. A NI 43-101 technical report supporting this estimate was filed on SEDAR on May 22, 2013. Tonnes x 1,000 Gold (g/t) Silver (g/t) Copper (%) Gold x 1000 (oz.) Silver x 1000 (oz.) Copper x 1000 (lbs) 2,319 0.21 144.3 0.47 15 10,760 24,053

El Cajón Material Processed in the PEA – Dec 31, 2012

  • Consideration of 67% of mineral resource tonnage under PEA case
  • 78% of in-situ metal content represented by silver

A $60/tonne NSR value cut-off and metal prices of $25/oz. Ag, $0.85/lb. Zn, $0.90/lb. Pb, $3.40/lb. Cu and $1,400/oz. Au were considered by the PEA. Material Processed in the PEA includes allowances for dilution and ore loss. Mineral resources that are not mineral reserves do not have demonstrated economic viability. A NI 43-101 technical report supporting the PEA was filed on SEDAR on May 22, 2013.

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San Rafael Development Project

  • Deposit comprises the Upper (silver-gold),

Main (silver-lead-zinc) & 120 (silver-copper- gold) mineralized zones

  • 11 km to processing facility by planned

modified road alignment

  • Fourth mineralized body – NW Extension Zone

discovered to the northwest

  • Received EIS approval for underground operation
  • Positive PEA study envisions 9 year mine life, with
  • pen pit mining commencing in 2015 (to 2023) and

underground mining in 2018 (to 2019)

  • Potential to accelerate mining rate to be

investigated

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San Rafael Main Zone Resource Estimate

Category Tonnes x 1,000 Gold (g/t) Silver (g/t) Zinc (%) Lead (%) Gold x 1000 (oz.) Silver x 1000 (oz.) Zinc x 1000 (lbs) Lead x 1000 (lbs) Measured 5,124

0.140 72.9 2.10 0.93 23 12,013 237,277 104,906

Indicated 9,591

0.102 53.3 1.94 0.81 31 16,445 410,756 170,860

M&I 14,715

0.115 60.2 2.00 0.85 54 28,458 648,033 275,767

Inferred 2,048

0.220 58.8 0.25 0.93 14 3,875 11,425 41,938

Tonnes x 1,000 Gold (g/t) Silver (g/t) Zinc (%) Lead (%) Gold x 1000 (oz.) Silver x 1000 (oz.) Zinc x 1000 (lbs) Lead x 1000 (lbs) 5,474 0.13 149 3.61 1.49 23 16,563 435,276 179,443 This updated mineral resource estimate was prepared by MDA using a 1.5% zinc equivalent (Zn eq) cut-off. A NI 43-101 technical report that supports this estimate was filed on SEDAR on May 22, 2013.

Mineral Resource Estimate for the Main & Upper Zones – Sep 7, 2012 Main & Upper Zones Material Processed in the PEA – Dec 31, 2012

A $60/tonne NSR value cut-off and metal prices of $25/oz. Ag, $0.85/lb. Zn, $0.90/lb. Pb, $3.40/lb. Cu and $1,400/oz Au were considered by the PEA. Material Processed in the PEA includes allowances for dilution and ore

  • loss. Mineral resources that are not mineral reserves do not have demonstrated economic viability. A NI 43-101

technical report to support the PEA was filed on SEDAR on May 22, 2013.

  • Consideration of only 33% of mineral resource tonnage from Main & Upper

Zones under the PEA case

  • 56% of in-situ metal content represented by precious metals
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San Rafael 120 Zone Resource Estimate

Category Tonnes x 1,000 Gold (g/t) Silver (g/t) Copper (%) Gold x 1000 (oz.) Silver x 1000 (oz.) Copper x 1000 (lbs) Indicated 2,644 0.150 100.7 0.28 13 8,562 16,291 Inferred 454 0.112 80.6 0.20 2 1,175 1,967

Mineral Resource Estimate for the 120 Zone – Sep 7, 2012 120 Zone Material Processed in the PEA – Dec 31, 2012

This updated mineral resource estimate was prepared by MDA using a 60 g/t Ag eq cut-off. A NI 43-101 technical report that supports this estimate was filed on SEDAR on May 22, 2013.

  • Consideration of 31% of mineral resource tonnage from the 120 Zone

under the PEA case

  • 80% of in-situ metal content represented by precious metals

A $60/tonne NSR value cut-off and metal prices of $25/oz. Ag, $0.85/lb. Zn, $0.90/lb. Pb, $3.40/lb. Cu and $1,400/oz Au were considered by the PEA. Material Processed in the PEA includes allowances for dilution and ore loss. Mineral resources that are not mineral reserves do not have demonstrated economic viability. A NI 43-101 technical report to support the PEA was filed on SEDAR on May 22, 2013. Tonnes x 1,000 Gold (g/t) Silver (g/t) Copper (%) Gold x 1000 (oz.) Silver x 1000 (oz.) Copper x 1000 (lbs) 956 0.154 150.7 0.41 4.7 4,633 8,601

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La Verde Mine

An immediate source of plant feed. A potential source of resources...

  • La Verde has been mined continuously for over 10 years

by third-party operating under royalty contract with Platte River

  • Scorpio retook control of the operations in 2012
  • No historical drilling records available...thus no resource

estimate available

  • Historical data indicate that consistent feed of ~ 120 g/t

Ag and ~ 0.3-0.5 %Cu was provided to the processing plant in Cosalá

  • Stabilizing and refurbishing of underground

infrastructures carried out in 2012 by Scorpio

  • Definition drilling completed in 2012 by Scorpio
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La Verde Mine

  • Mineralization hosted in

near-vertical parallel shear zones within a skarn environment

  • Drilling outside of past

mining areas uncovered additional parallel zone – Isabel

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La Verde Mine

Back-of-the-Envelope Mineralized Material Inventory Estimate – La Verde

  • Potential for extending zones along strike, on other side of fault
  • U/G drilling to be carried out this year and from surface in 2014

Prospective Ground at La Verde

Mineralized Horizons Ave. width Strike Dip

  • Vol. M3

Tonnes La Verde 25 350 150 1,312,500 3,543,750 41 5 350 150 262,500 708,750 San Juan 7 350 150 367,500 992,250 Bajo San Juan 4 350 150 210,000 567,000 La Rampa 7 350 150 367,500 992,250 Nuevo 6 350 150 315,000 850,500 Isabel 35 350 150 1,837,500 4,961,250 Total 12.71 4,672,500 12,615,750

Grades difficult to assess properly because of mineralization “clusters”

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2013 Work Program

Permitting

  • Finalize change of land use permitting for El Cajón underground operations
  • Prepare and present exploration permit request for San Rafael Main Zone infill drilling
  • Prepare and present exploration permit requests for regional exploration targets

Engineering

  • PFS preparation to support conversion of resources to reserves for El Cajón in early 2014
  • Trade-off studies on alternate paths forward, using PEA as base case scenario

Construction

  • Advance El Cajón mine access and initial development – slated for ramp-up in Q2 2014

Exploration

  • Complete regional exploration program (Venado, Los Cristos, San Ramón, Nuestra Señora)
  • Interpret geophysical and Aster surveys
  • Assess La Verde mine geological potential
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2014 Work Program

Permitting

  • Prepare and present Environmental Impact Statement for open pit mining at San Rafael
  • Request change of land use permit for San Rafael open pit operations

Engineering

  • Publish PFS to support conversion of resources to reserves for El Cajón in early 2014
  • Complete hydrology study to support permit application for San Rafael open pit
  • Optimize open pit vs. underground transition at San Rafael
  • Advance PFS for resource to reserve conversion at San Rafael Main Zone

Construction

  • Complete El Cajón initial development and achieve production ramp-up in Q2 2014, with on-

going development at El Cajón to access additional working levels

Exploration

  • Complete infill drilling at San Rafael Main Zone to support reserves conversion
  • Perform drilling program at La Verde, towards resource statement
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Building Value Through Organic Growth

  • 100% Owned Assets
  • No Hedging
  • Debt Free
  • Royalty Free*
  • Cash on Hand
  • Large Resource Base
  • Excellent Infrastructures

* Only 4% of our non-producing concession area is subject to a 1.25% NSR royalty

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Corporate Social Responsibility

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In Summary

Performance

  • Operational cash flow to support future financing requirements; no debt
  • Production in 2012 totaled 2.3 million silver equivalent oz (0.94 million in H1 2013).
  • Improvement initiatives and cost reduction programs meeting with success

Growth

  • Positive PEA published in May 2013, incorporating the Nuestra Señora, El Cajón and San

Rafael deposits, envisions 11 year project life producing 40.3 million silver equivalent oz.

  • El Cajón mine development commencing upon receipt of Change of Land Use permit –

slated for ramp-up in Q2 2014

  • Conversion of resources to reserves for El Cajón and San Rafael in early and late 2014,

respectively

  • Aggressive exploration program in the Cosalá District to potentially expand the resource

base and discover new deposits

Expertise

  • Extensive in-house operational experience to achieve immediate and long-term goals
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Contacts

CORPORATE OFFICE FOR FURTHER INFORMATION:

Scorpio Mining Corporation Suite 606 - 40 University Ave. Toronto, ON M5J 1T1 Tel: 416-585-2200 Fax: 416-585-8026 www.scorpiomining.com Email: scorpio@scorpiomining.com Victoria Vargas VP Investor Relations and Corporate Communications Tel: 416-585-2200 (Ext. 103) Email: vvargas@scorpiomining.com