In the previous news release the following was announced...

"Vancouver, BC, November 4, 2012 St. Elias Mines Ltd announced today that the Annual General and Special Meeting of Shareholders scheduled for 11 a.m. on November 30, 2012 has been cancelled.

The cancellation will allow for additional time for St. Elias to engage in discussions with a proposednew director nominee with world class expertise, and to discuss other aspects of the composition of the Board with the TSX Venture Exchange."

In the recent news release this has been announced...

"At the request of the TSX Venture Exchange, St. Elias has put a special resolution forward to amend the Company's articles by removing the staggered board provisions. The amendment is intended to comply with the Exchange's requirement that listed companies hold elections for all directors on an annual basis.

Unfortunately, the Exchange notified us that it wanted us to change our staggered board provisions only after we had announced, on October 29, 2012, that we would hold our shareholders meeting at the end of November. We subsequently cancelled that meeting and scheduled a replacement meeting after we completed discussions with the Exchange on an acceptable voting and amending process."

Interestingly and rest assured by design...the first news release conveniently ommited the details regarding the TSX's new requirements which ensured that the dissident group would not have enough time to offer up thier 4th and 5th nominees in a timely fashion.

Furthermore this confusion may not be able to stop the dissident group from offering up their two new nominees in the end...it does however almost certainly delay the dissident group as they will need to take the time to legally challenge it.

This allows the company time to smear the dissident group and to attempt to coerce shareholders into voting their proxies early before being presented with the nominees from the dissident group.

There is no more critical time than now to be patient...if you don't wait to vote until all options are before you...you will be voting blind.

Make sure EVERY LAST shareholder you know...understands that there WILL BE more nominees to choose from...and they should not vote until they are presented with ALL voting options.

S.