SOURCE: St. Elias Mines Ltd.

February 06, 2012 09:09 ET

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

VANCOUVER, BC--(Marketwire - Feb 6, 2012) - Lori McClenahan, President and CEO of St. Elias Mines Ltd. (TSX VENTURE: SLI) (PINKSHEETS: SELSF) (US Clearing Symbol: SELSF) (FRANKFURT: EKL), 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.


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 worked for companies throughout Latin America and the Pacific Rim and is experienced in property evaluation, acquisitions, exploration project management, mining company management, contracts, government and labor negotiations, budgets and forecasts.

Lisa Waller brings over 35 years of experience in management, administration and public relations in business in both North and South America.

"These professionals have extensive experience in Peru which will help bolster our team as we advance to the next stage of St. Elias' development. We are very fortunate to attract people with this level of expertise," stated the Company's President and CEO, Lori McClenahan. "They will work with our existing geological team, led by James Thom, M.Sc., to form a united exploration group with formidable geological and administrative expertise and experience. This team has the ability to rapidly and efficiently design, execute and ramp up exploration and development programs on our gold projects in Peru."

Investor Relations

The Company is also expanding its investor relations team and has hired Don Ronning to provide shareholder communication services for the Company, for a minimum term of six months, and in consideration, the Company has granted 100,000 incentive stock options at a price of $0.84 per share for a period of two years with vesting over a period of 12 months. The Company will also reimburse Mr. Ronning for reasonable expenses incurred, as approved by the Company.

Stock Options

Pursuant to the Company's Stock Option Plan, the Company has granted incentive stock options to directors, officers and consultants of the Company to purchase an aggregate 1,000,000 shares at an exercise price of $0.81 per share for a period of two years.

(signed "Lori McClenahan")
Lori McClenahan,

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.

This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.

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