GoldMinerPulse Report on Scorpio Mining Corporation: (NI) 43-101 Metal Valuation Report

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Scorpio Mining Corporation (SPM)

Company Web Site: www.scorpiomining.com

External Links: Yahoo News and Quotes  |  StockCharts  |  Stockhouse

More External Links: Canadian Insider Trading

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02

Project/Deposit CC MVpSh  PP%  MI%  I% GoldSilverCopperLeadZinc
    Nuestra SenoraMX$4.61081%19%23.74 K oz    22.29 M oz    17.50 K t    66.39 K t    140.27 K t    
    Mineral RidgeUS$1.99062%38%357.31 K oz                        
    CaribouCA$0.4900100%88.12 K oz                        
 
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / MetalGoldSilverCopperLeadZinc
    Metal Totals469.17 K oz    22.29 M oz    17.50 K t    66.39 K t    140.27 K t    
    Metal Prices in US$ (from 2010-09-02)$1,251.30 per oz    $19.69 per oz    $3.46130 per lb    $0.96240 per lb    $0.94810 per lb    
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below)		$2.61    $1.95    $0.59    $0.63    $1.30    
    Percentage of Total Metal Value36.84%    27.54%    8.38%    8.84%    18.40%    
    PP% | MI% | I%0 | 51% | 49%    0 | 79% | 21%    0 | 87% | 13%    0 | 82% | 18%    0 | 81% | 19%    
 
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)   US$7.09
    Average Ore Value per Tonne   US$121.58
    Metal Value Leverage (MVL)    9.58
    Market Capitalization as % of Metal Value   10.4%
    Recent Stock Price   C$0.78   (TSX/TSXV close on 2010-09-02.)
  Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count   224.68 M    ( Fully diluted share count taken from Scorpio Mining Corporation's Stock Info page, August 2010. )
    PP% | MI% | I%   0 | 70% | 30%
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade   136.5 g/t
    Market Capitalization
    per oz of Silver In Ground		   $7.46   US$  |   7.86   C$
    Silver Eq Oz Estimate   80.93 M oz   ( 22.29 M oz are in ground)
    Market Capitalization
    per oz of Silver Equilavent		   $2.06   US$  |   2.17   C$
 
See terms for more about GoldMinerPulse metrics.

Additional Notes:

Pre (NI) 43-101 Reserve/Resource Estimate Projects    -   See p. 6 of 15 of the Management Discussion and Analysis (MD&A) for the three and six-month periods ended June 30, 2008

  • Cochrane Hill Property
  • Lac Arseneault Property
 

GoldMinerPulse Coverage Status:

  • GoldMinerPulse coverage of Scorpio Mining Corporation is complete pending a final internal review.

Caribou    -  ^top^

(NI) 43-101 Report:

Title: Technical Report - Preliminary Resource Estimate for the Caribou Property and Recommendations for Additional Work, Upper Musquodoboit, Halifax County, Nova Scotia
Date: 2006-12-30 (157 pages)

Project Location: Nova Scotia, Canada

Map View: View the Caribou Property on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.49    88.12 K oz     8.413 g/t     350.31 K t    
Estimate notes: See Table 11-3.b Summary of Inferred Resource Estimate on p. 42 of 157 in the (NI) 43-101 dated December 2006.
Resource quantities adjusted for ownership percentage of 93.0%.
Uncut Inferred Gold Resource

Mineral Ridge    -  ^top^

(NI) 43-101 Report:

Title: TECHNICAL REPORT ON THE INITIAL MINERAL RESOURCE ESTIMATE FOR THE MINERAL RIDGE GOLD PROJECT NEVADA, USA
Date: 2010-06-30 (180 pages)

Project Location: Nevada, USA

Map View: View the Mineral Ridge Gold project on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.23    220.76 K oz     1.611 g/t     4.26 M t    
Estimate notes: See Table 17.16 Summary of Audited Resources for Mineral Ridge on p. 124 of 180 in the NI 43-101 report dated June 2010.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.76    136.55 K oz     1.234 g/t     3.44 M t    
Estimate notes: See Indicated note.

Nuestra Senora    -  ^top^

(NI) 43-101 Report:

Title: A TECHNICAL REVIEW AND AUDIT OF THE NUESTRA SEŅORA PROPERTY, SINALOA STATE, MEXICO FOR SCORPIO MINING CORPORATION
Date: 2008-06-28 (99 pages)

Project Location: Sinaloa, Mexico

Map View: View project on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.10    17.60 K oz     0.130 g/t     4.21 M t    
   Silver$1.54    17.60 M oz     130.000 g/t     4.21 M t    
   Copper$0.51    15.16 K t       3,600.000 g/t     4.21 M t    
   Lead$0.51    54.33 K t       12,900.000 g/t     4.21 M t    
   Zinc$1.06    113.71 K t       27,000.000 g/t     4.21 M t    
Estimate notes: See TABLE 16. ESTIMATED MINERAL RESOURCES on p. 76 of 99 in the (NI) 43-101 dated February 2008.
The cutoff in situ value used to estimate the above mineral resources was US$100 per tonne
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.03    6.14 K oz     0.220 g/t     867.80 K t    
   Silver$0.41    4.69 M oz     168.000 g/t     867.80 K t    
   Copper$0.08    2.34 K t       2,700.000 g/t     867.80 K t    
   Lead$0.11    12.06 K t       13,900.000 g/t     867.80 K t    
   Zinc$0.25    26.55 K t       30,600.000 g/t     867.80 K t    
Estimate notes: See TABLE 16. ESTIMATED MINERAL RESOURCES on p. 76 of 99 in the (NI) 43-101 dated February 2008.
The cutoff in situ value used to estimate the above mineral resources was US$100 per tonne

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