Welcome to the forum, Solid

Your post is a reasonable one.

I, for one, have always been anxious on the timing of everything, and have recently realized that what I may have been led to beleive in regards to timing, isn,t so. I guess what I am trying to say, is that I have been wrong on timing, but I don,t beleive it to be entirely my fault. I would like to defend myself somewhat on why I had expected things to happen a little quicker. I know Lori has said she doesn,t give timelines any more, but in the past she has given several.

It all started, for me, back in April 8 th /2010. That was the first time I started waiting for news, that never came. Here is a line from an NR at that time;

The grade of the bulk sample from the C3 Vein should be available within the next two weeks.

http://steliasmines.com/newsrelease/st-elias-mines-ltd-%e2%80%93-tesoro-gold-project-%e2%80%93-update/

This was from the C-3 VEIN that would have been the first bulk sample of. That bulk sample grade was important to me as where it was the first time that we could get a mining grade from that vein and put it into perspective with the other veins at Zona Canchete. I would love to have that info at this very moment, it would add greatly to our understanding of that area and is crucial in coming up with a better gold estimate grade for that area. I kept asking where it was, but no direct answer on it, then we ran into a tech report being done in June. I was told that nothing could be removed from the property at this time, and also because of the EIS nothing could be removed until the EIS was completed. So, in fact, I didn,t know we would not be getting this until about 3 months later.

Next, here is sampling that I was expecting because of what it said in the NR.

Check this out below that came from Aug 26 th /2010 release last year. Notice ongoing. No release for this either.

The surface exploration program (rock samples, soil samples, trenching) to examine and evaluate geophysical anomalies is ongoing and results will be announced as and when available.

http://steliasmines.com/newsrelease/st-elias-mines-ltd-%e2%80%93-update-on-corporate-affairs/

Below is an NR that has a couple more things we are waiting for;

NEWS RELEASE

St. Elias Mines Ltd. Reviews 2010
2011 Augurs Well for St. Elias – Growth Projects in Peru and B.C.

Vancouver, B.C. – December 31, 2010 Lori McClenahan, President of St. Elias Mines Ltd. (SLI – TSX:V), is pleased to provide the following year end review on the corporate affairs of the Company.
2010 HIGHLIGHTS

• Received favourable results from Stage 1 and Stage 2 Titan 24 Geophysical Surveys at the Tesoro Gold Project in Peru.
• Completed an Independent 43-101 Technical Report on the Tesoro Gold Project.
• St. Elias acquired six strategic mineral claims adjoining the Tesoro Gold Project.
• St. Elias granted option to Amarok Resources Inc. on the Cueva Blanca Gold Property in Peru.
• St. Elias granted option to Ansell Capital Corp. on the Vilcoro Gold Property in Peru.
• St. Elias granted option to Dorex Minerals Inc. on the Strawberry Flats Property, B.C.
• St. Elias granted option to Inform Resources Corp. on the South Rim Project.
• Completed an Environmental Impact Study (“EIS”) on the Vilcoro Gold Property in Peru.
• Standard and Poors initiated Factual Stock Report coverage on St. Elias.
• Retained Nick Fuller & Associates for European investor relations.
• Retained The Haft Group, Inc. for US public relations.
• Engaged INDEVA Corporation as a corporate advisor.
• Expanded investor relations activities world-wide highlighted by New York events.
• St. Elias is adequately funded with working capital in excess of $4,000,000 (December 31, 2010) with no debt.

”St. Elias is well-positioned to weather the current market conditions and our emphasis in 2011 will be on the advancement of our existing gold projects. The price of gold continues to be resilient through this difficult economic period and we expect it will continue to be strong in the future” stated President, Lori McClenahan.
Tesoro Gold Project, Peru
During 2010, positive results were received for Stage 1 and Stage 2 Titan 24 Geophysical Surveys at the Tesoro Gold Project. The surveys were conducted by Quantec Geoscience Limited, a leading provider of geophysical surveys and services for the mineral exploration industry. Quantec, through detailed analysis of their Titan 24 data, recommended a total of 52 drill holes to test the first and second priority targets interpreted in the property. Of them, 26 drill holes are recommended to test the first priority anomalous zones and 26 drill holes are proposed to test the second priority target zones. These zones are interpreted to be related to, and/or the extension of, previously discovered mineralized zones in the Property. The Company has planned an initial 10,000 metre diamond drilling program at Tesoro.
An Environmental Impact Study (“EIS”) which is required prior to drilling has been submitted to the Peruvian government and the Company is now awaiting final approval. This will be the third EIS completed on the Tesoro Property.
The Company retained Bradley Bros. Limited, a prominent diamond drilling company, to provide a quote for the upcoming drill program.
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, St. Elias 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 covers 17,436 acres.
The Company completed an Independent 43-101 Technical Report on the Tesoro Gold Project. The Report, dated September 30, 2010 written by Paul D. Gray, P.Geo, is available for viewing by visiting www.sedar.com. Mr. Gray conducted a site visit and property inspection of the Tesoro Property from
June 6 – 8, 2010 (verification assays returned grades up to 231.12 g/t or 6.74 oz/t gold.)
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.
Cueva Blanca Property, Peru
During the year, St. Elias entered into a letter agreement with Amarok Resources Inc. (“Amarok”) whereby Amarok agreed to acquire a 60% interest, subject to a 1.5% net smelter return royalty (“NSR”), in the Cueva Blanca Gold Property from St. Elias in consideration of $200,000, issuing 100,000 common shares of Amarok to St. Elias and incurring $1,500,000 in exploration expenditures on the property. Amarok is a publicly traded mineral exploration company (US OTCBB – Symbol “AMOK”) The Cueva Blanca Property is 100% owned by St. Elias.
Vilcoro Gold Property, Peru
During the year, the Company entered into a letter agreement with Ansell Capital Corp. (“Ansell”) whereby Ansell agreed to acquire a 65% interest, subject to a 1.5% NSR, in the Vilcoro Gold Property from St. Elias in consideration of making cash payments of $500,000 issuing 1,000,000 common shares of Ansell to St. Elias and incurring $2,500,000 in exploration expenditures on the property. The Vilcoro is 50% owned by St. Elias and 50% owned by Emilsen Medina Inga de Brophy. Ansell is a publicly traded mineral exploration company (TSX:V – Symbol “ACP”)
In fall 2010, an Environmental Impact Study was completed at the Vilcoro and the Ministerio de Energia y Minas (Ministry of Energy and Mines) subsequently granted a permit to allow drilling on the Vilcoro Gold Property. Drilling is planned for spring 2011.
Strawberry Flats Gold Project, B.C.
During the year, St. Elias entered into an option agreement with Dorex Minerals Inc. (“Dorex”) whereby Dorex agreed to acquire up to an 80% interest, subject to a 1.5% NSR, in the Strawberry Flats Gold Project. Dorex can acquire an initial 60% interest in the property from St. Elias in consideration of $50,827, issuing 600,000 common shares of Dorex to St. Elias and incurring $600,000 in exploration expenditures on the property. Dorex can earn a further 20% interest in the Property in consideration of making additional cash payments of $200,000 to St. Elias, issuing an additional 600,000 common shares of Dorex to St. Elias and incurring an additional $1,000,000 in exploration expenditures on the property. Dorex is a publicly traded mineral exploration company (TSX:V – Symbol “DOX”)
In 2010, a Phase I exploration program, designed to locate drill targets for a Phase II diamond drilling program, was completed.
South Rim Project, B.C.
During the year, St. Elias entered into a letter agreement with Inform Resources Corp. (“Inform”), formerly “Downtown Industries Ltd.”, whereby Inform agreed to acquire up to a 75% interest in the South Rim Project. Inform can acquire an initial 51% interest in the property from St. Elias in consideration of $75,000, issuing 220,000 common shares of Inform to St. Elias and incurring $600,000 in exploration expenditures on the Property. Inform can earn a further 24% interest in the property from St. Elias in consideration of $250,000, issuing of 600,000 common shares of Inform to St. Elias and incurring $1,500,000 in exploration expenditures on the property. Inform Resources Corp. is a publicly traded mineral exploration company (TSX:V – Symbol “IRR.H”)
In 2010, a Phase I exploration program was completed and results will be announced shortly.
Beaverdell Gold/Silver Property, B.C.
St. Elias has granted an option to Intigold Mines Ltd. (“Intigold”) to acquire a 100% interest, subject to a 1.5% NSR, in the Beaverdell Gold/Silver Property. Intigold can acquire an initial 51% interest in the property from St. Elias in consideration of $35,000, issuing 300,000 common shares of Intigold to St. Elias and incurring $350,000 in exploration expenditures on the property. Intigold can earn a further 49% interest in the Property from St. Elias in consideration of $200,000, issuing of 1,200,000 common shares of Intigold to St. Elias and incurring $1,000,000 in exploration expenditures on the property. Intigold is a publicly traded mineral exploration company (TSX:V – Symbol “IGD”).
A 2011 exploration program is presently being planned.

We were waiting for the EIS ever since at least April 2010, when it didn,t show by the AGM last year, Lori told us she had a date when we would receive it, but couldn,t say. I don,t beleive any of us thought it would be as late as May 2011. The words "agressive drill program, 24/7" suggests speed to me. We did research and had discussions here on how long it should take, but apparently we couldn,t use any of it as a comparison, but we didn,t know it until after the fact.

Anyways, I am not knocking management on how things change over time, I am trying to show, with a few points,(there are more not listed here) why I was anxious. I now understand why things have taken longer, but hindsight is a beautiful thing. I also understand that Lori cannot put out an NR everytime things change course, so who is to blame, no one really.

I am sorry and feel bad about my posts being as anxious as they have, the above are reasons and I hope they are not perceived as excuses.

Sculpin