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Message: Chain of events

January 10, 2012 - Drill results:

St. Elias Mines Ltd. – 2011 Diamond Drilling Gold Results – Tesoro Gold Project in Peru

Vancouver, B.C. January 10, 2012: Lori McClenahan, President, St. Elias Mines Ltd. (SLI – TSX:V) announces gold results from diamond drilling completed at the Tesoro Gold Project in Peru.

January 11, 2012 - Resignation of Bain/St. James:

Vancouver, B.C. January 11, 2012

Lori McClenahan, President of St. Elias Mines Ltd. (SLI – TSX:V) (“St. Elias” or the “Company”) announces that Duncan Bain and Allan St. James have resigned as directors of the Company effective today.

January 13, 2012 - 3 new directors are appointed:

Vancouver, B.C. January 13, 2012 Lori McClenahan, President of St. Elias Mines Ltd. (SLI – TSX:V) (“St. Elias” or the “Company”) is pleased to announce that Paul F. McDonald, Lloyd C. Brewer and Donald M. Bastien have been elected to St. Elias’ board of directors

February 3, 2012 - CEO holds conference call:

6 minute mark:

Nothing has changed with the company or the Tesoro property, except we have more information. The potential of the Tesoro property has not diminished in any way whatsoever

20:47 minute mark:

THE NEW DIRECTORS ARE COMING ON AT EXACTLY THE RIGHT TIME…(MUFFLED BY BACKGROUND TALKING)…….AT THE POINT OF DEVELOPMENT WITH ST. ELIAS AND ANY KIND OF TAKE OVER OR BUSINESS DEAL THEIR INPUT WILL BE INVALUBLE.

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