l: SLI (TSX Venture Exchange)

News Release 2012-06

February 6, 2012

NEWS RELEASE

St. Elias Mines Ltd. Retains Additional Geological and Administrative Personnel

Vancouver, B.C. February 6, 2012: Lori McClenahan, President and CEO of St. Elias Mines Ltd. (SLI

- TSX:V), announced today that the Company has retained additional personnel to expand its geological

and administrative expertise with respect to its Peruvian operations.

George Sivertz, B.Sc., P.Geo.

George Sivertz, B.Sc., P.Geo., brings over 35 years of mineral industry experience to the Company. Mr.

Sivertz graduated from the University of British Columbia in 1976 with a B.Sc. (Honours) in Geological

Science. His geological expertise includes conducting regional exploration programs, property

evaluations, technical reviews, due diligence studies and resource estimations. Mr. Sivertz has extensive

experience exploring and developing gold, silver and copper deposits in Latin America, especially in

Peru. He has also worked in a variety of geological settings around the world notably in British

Columbia, Yukon, Mexico and the southwest U.S.

Teo Salazar

Teo Salazar brings over 18 years of mineral exploration experience in Peru and Argentina to the

Company. He is a graduate of the Universidad Nacional Mayor de San Marcos, Faculty of Geology,

Mining, Metallurgy and Geographical Sciences. San Marcos is the oldest University in the New World

and is widely considered to be the foremost mining sciences institution in South America. Teo has

conducted a wide range of exploration programs in many of the famous mining districts of Peru.

EMINASA

St. Elias has retained EMINASA to provide a full service package to the Company that includes

accounting, payroll management, financial advice, legal advice, office space, messenger services,

logistics and the sourcing of professional exploration and mining personnel. EMINASA is the acronym

for "Exploration & Mining Associates S.A." and was formed in 1997 by Harold and Lisa Waller.

EMINASA selected Peru as its base of operations because Peru is one of the most important mineral-rich

democratic nations in the world. Harold and Lisa Waller have lived in Peru since the 1960s and have

worked as a team in the Peruvian mining industry for decades

Harold Waller received a M.Sc. Degree in Economic Geology from the University of Arizona in 1960

and brings over 50 years of international experience in exploration for base and precious metal deposits

with the last 40 years focused on exploration and mining company management. Mr. Waller has