Only one of six new claims are optioned out! so we really only give up less than 20% (16.6% of new claims) but still get 40% ownership even if the option agreement is met.As well we still get 1.5% royaltys for life. for all this.....

NEWS RELEASE St. Elias Mines Ltd. – Options Strategic Claim Adjoining Tesoro to IntigoldVancouver, B.C. August 31, 2011 Lori McClenahan, President and Chief Executive Officer, St. Elias Mines Ltd. (SLI - TSX:V) and Intigold Mines Ltd. (IGD – TSX:V), announces today that St. Elias has entered into an option agreement with IntiGold Mines Ltd. (“IntiGold”) whereby IntiGold can earn a 60% interest in the Chance E mineral concession (the “Chance E Claim”) which adjoins St. Elias’ wholly-owned Tesoro Gold Project located in southwestern Peru. Chance E ClaimThe Chance E Claim is a strategic claim that adjoins the southern end of the Tesoro Gold Projectwhere St. Elias is currently drilling to delineate gold resources. The Tesoro Gold Project has demonstrated the potential for a "world class" gold discovery. Geological information, together with Titan 24 geophysical data and satellite imagery, confirms that structural lineaments which are coincident with gold mineralization on Tesoro Project extend onto the Chance E Claim.

The initial exploration program on the Chance E Claim will consist of, but is not limited to, th interpretation of satellite imagery acquired to exact specifications and geological mapping and sampling. The program is scheduled to commence immediately.Option AgreementUnder the terms of the option agreement, IntiGold can acquire a 60% interest in the Chance E Claim (subject to a 1.5% NSR) in consideration of making cash payments of $500,000 to St. Elias, issuing 1,000,000 common shares in the capital of IntiGold to St. Elias and incurring $1,000,000 in exploration expenditures on the property over a three-year period.IntiGold's first year commitment under the option agreement is to pay $25,000 to St. Elias and incur $200,000 in exploration expenditures on the property.

News Release 2010-39 October 12, 2010

NEWS RELEASE

St. Elias Mines Ltd. Acquires Strategic Claims Adjoining Tesoro Gold Project, Peru Vancouver, B.C. October 12, 2010 Lori McClenahan, President of St. Elias Mines Ltd. (SLI – TSX:V) (“St. Elias” or the ``Company``), is pleased to announce that the Company has acquired six strategic mineral claims (the "New Tesoro Claims") surrounding its existing Tesoro Gold Project (the "Property")located in southwestern Peru. New Tesoro Claims Exploration results to date have shown the Tesoro Gold Project to be permissive for the expansion of known gold mineralized zones both on strike and to depth as well as the discovery of additional gold mineralization. In that regard, the Company has staked six New Tesoro Claims (Chance A, B, C, D, E and F) surrounding its existing Tesoro Gold Project.

Prior to the acquisition of the New Claims, the Tesoro Project comprised three mineral claims (Chance 1, Chance 2 and Chance 5) covering approximately 5,000 acres. With the addition of the New Tesoro Claims, the Tesoro Gold Project covers17,436 acres. ``We are very pleased with the acquisition of these additional claims. It is a natural evolution of the Project to acquire these strategic claims considering the exploration results received to date`` stated Lori McClenahan, President of the Company.

Tesoro Gold Project, Peru The Tesoro Gold Project, consisting of nine mineral claims covering 17,436 acres, is located in the Department of Arequipa in the District of Acari in southwestern Peru. The Property is 100% owned by the Company with no underlying royalties. The Property lies within the well-known 300 km X 30 km Nazca-Ocoña gold belt adjacent to and paralleling the Pacific coast of southwestern Peru. The Nazca-Ocoña gold belt has a long mining history dating back to pre-Incan time with more than 70 gold (± copper) deposits have been discovered and exploited since the 17th century, most of which are quartz-vein hosted gold deposits. The Tesoro Property can be defined as an advanced stage gold exploration target that hosts several historic gold showings and gold workings. The style of mineralization represents a mesothermal vein exploration target. To date, mesothermal-vein style gold mineralization has been identified superficially and to depths of over 100 metres. The Tesoro Property has never been evaluated to depth, or to its full strike potential. This leaves a large potential for the discovery of additional mineralization.

God Bless All

Mr. Hobbes.