So, we have an average bulk sample grade of C-1 at .99 oz per ton.

We have an average bulk sample grade of C-2 at 2.04 oz per ton.

We have an average bulk sample grade of C-3 at ? C-4 at ? C-5 at ?

[Lori McClenahan, President of St. Elias Mines Ltd. (“St. Elias” or the “Company”), is pleased to

to update bulk-sampling results from the ongoing underground exploration program at its 100%-

owned Tesoro Gold Project in southwestern Peru. An additional 23.9 tons of bulk sample

material from the C2 Vein at Zona Canchete were processed at the Dynacor mill and returned an

average grade of 0.78 oz/t gold. To date, 63 tons of bulk samples have been processed from the

C2 Vein with an average grade of 2.04 opt gold.

The Company is now taking a bulk sample from the C3 Vein at Zona Canchete, which is a

narrow but high-grade (+- 1.0 oz/t gold) vein paralleling the C1 Vein, which has been described

in previous news releases (average grade of 0.99 oz/t gold based on milling of 451 tons of bulk

sample.)]

The diagram below is taken from John Brophy,s technical report of 2008.

Look at the grades of the suface samples taken from C-3 and C-4. Notice the vein below the C-1 that is unlabled and unsampled in 2008. The same goes with C-5, no data, BUT it is considered that it may be an extension of the A-4 that had assays as high as 19 OUNCES PER TON! If this is an extension of the A-4, this will be determined with the ongoing trenching project as it was stated that this theory will be tested as priority.