Geer 1, YOUR STATEMENTS ARE NUMBERED, MY OPINIONS ARE LETTERED.

1) Using what I consider to be a decent estimate of gold in the anomalies if they are in fact gold bearing I arrive at 176 million ounces. On the other hand, if I ignore the anomalies and calculate the gold potential of mesothermal vein systems on the property I arrive at around 2 million ounces.

a) You have to keep in mind here that we had several geological events. And, in my opinion, we had different events. You have evidence of volcanics and mesothermal deposition, they are slightly different, mainly in heat and pressure. I dont want to go into geology for the simple reason I would be writing all night, trying to explain things. But the thing you are missing, is WHAT formed and supplied these anomalies. If you look at the faults in conjecture with the anomalies, (all the minor and major ones shown in the tech report), then factor in a mesothermal system, and study mineral deposition, you should arrive at one conclusion. Throw in the grade and depth potential of mesothermal systems also, just to further support my previous sentence. VIOLA.

2) Management does not keep their website up to date. Examples, we do not have 100% interest in Cueva Blanca, the Tesoro property covers much more then 4250 acres now, updated claim maps are not available and much more. Dig through the news results and compare to the site if you don't believe me.

b) We are presently constructing a new website, everything will be updated when the new site is up and functioning properly. If you would have read this nr which is on the website, then you would have known we hold as of this minute, 100% interest in Cueva Blanca. The terms of the agreement clearly states, Amarok can earn a 60% interest at the end of the three year period IF they meet their agreement obligations. Until then, we retain our 100% interest.

http://www.steliasmines.com/storage/news_releases/Sli-News-2010-19-Cueva-Blanca-FINAL.pdf

Updated claims maps are in the Technical report, if I am not mistaken, I beleive you could have accessed this through the SLI website also.

3) Management did not release titan24 results they had nor details on the new claims and still hasn't put it on their public website. To this date this information can only be seen if viewing Paul Gray's 3rd party technical report.

c) Answered in b), also, anyone doing proper DD knows that SEDAR is an integral part.

4) Management has been telling investors since last spring to expect drilling permits any day. Management wouldn't even give an answer as to when the EIS permit application was submitted. Yet in a 3rd party technical report by Paul Gray we are told "St. Elias completed and filed an updated E.I.S. in August, 2010". One positive of this, going by average permit times we should be getting this soon.

d) There seemed to be some confusion on this and at that time so many things were changing with Peruvian mining regs, that numerous companies were in the same limbo. We have posted numerous articles and info on why this happened and if you have been reading the board, you would have known also. Nobody is perfect.

5) Also from the technical report "The Currently filed E.I.S. contemplates remediation of any and all surface disturbance caused by St. Elias during the course of superficial exploration programs within its closing and abandonment provisions." What does this mean? That St. Elias may have to fix the work it did without the proper permits in place(trenching, bulk samples, shaft mining).

e) This means that after SLI is done with the property, it has to returned to the most natural state. Every mining company and me (a prospector) has this stipulation put in their permits, its standard and does not imply wrong doing by SLI.