I don,t beleive their number and think that was probably a typo. At that time, by those numbers, the average amount of shares held by each shareholder would have to be close to 1 million.

I beleive back in Feb, this year, that Hilljilly and I tried to get estimate on the amount of shareholders. I forget exactly what we came up with, but I beleive Murry was asked at the time, and said over 1000. The presentation SLI attended in Feb, in Florida, had the shareholder count at 3000, I thought that high at the time, so there was a little discussion on the board about this.

I think it would be interesting to ask Murry roughly what the shareholder count was at each of those times, to see how accurate it is being reported. They have the shareholder list and they could easily be counted for each period.

Here is an excerpt from Florida Presentation;

ABOUT ST. ELIAS MINES, LTD: St.Elias Mines Ltd (TSX-V:SLI), headquartered in Vancouver B.C., founded 13 years ago by President and CEO Lori McClenahan, is a gold mining development company with core mineral properties in Peru and British Columbia which includes six highly perspective properties in British Columbia and three properties in Peru, including the Tesoro Gold Project in southern Peru . The Company is planning drill programs on several projects including the TESORO Gold Project. To date, more than 70 gold deposits have been exploited in this region since as early as the 17th century. As of January 2006, the Company had recovered 74.4 ounces of gold from an initial 53.7 tonne bulk sample processed at the Dynacor mill. St Elias' shareholder base approximate is 3,000 in B.C., Europe, U.S. and Asia. (http://www.steliasmines.com/).

http://www.globenewswire.com/newsroom/news.html?d=214393