Lori McClenahan, President of St. Elias Mines Ltd. (“St. Elias” or the “Company”), announces
that St. Elias and its President, Lori McClenahan, intend to join those companies that have sued
for defamation as a result of on-line bulletin board postings. Recently, a Stockhouse poster,
using the pseudonym “Elbandito”, placed false and defamatory comments on a forum about the
Company’s President which has been removed by Stockhouse at the request of St. Elias. The
Company has grounds to file a libel action with the Courts to seek general and aggravated
damages, as well as punitive damages. There is a need to deter irresponsible, self-interested,
malicious postings and the courts have, in the past, looked down upon libellous material found in
on-line postings. As an example, Justice C.A. Kent awarded oil and gas producer Vaquero
Energy Ltd. and its president, Robert Waldner, a total of $75,000 in damages over defamatory
Stockhouse posts and the Ontario Superior Court of Justice awarded Barrick Gold Corp.
$125,000 after the company was libelled on an Internet chat site.
