SOURCE: St. Elias Mines Ltd.

June 12, 2012 13:30 ET

St. Elias Mines Ltd. - Spin-Off of Havilah Mines Ltd.

VANCOUVER, BC--(Marketwire - Jun 12, 2012) - Lori McClenahan, President of St. Elias Mines Ltd. (TSX VENTURE: SLI) (PINKSHEETS: SELSF) (FRANKFURT: EKL) (US Clearing Symbol: SELSF) ("St. Elias" or the "Company") announces today that St. Elias has postponed the completion of its spin-off transaction ("Plan of Arrangement") of its BC Properties into Havilah Mines Ltd. ("Havilah"), a new company incorporated for the purpose of facilitating the Plan of Arrangement. The concurrent financing and listing of Havilah on the TSX Venture Exchange will also be postponed, all due to market conditions. The Company intends to finalize the spin-off, financing and listing of Havilah in the fall.

For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call 1-888-895-5522 (toll free US and Canada) or contact:

U.S. Investor Relations Consultant

Herbert Haft
The Haft Group, Inc.
Tel: (212) 759-8865
Email: herbhaft@haftgroupinc.com
herbhaft@aol.com
ST. ELIAS MINES LTD.

(signed "Lori McClenahan")
Lori McClenahan, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.

Contact Information

  • Herbert Haft
    The Haft Group, Inc.
    Tel: (212) 759-8865
    Email: herbhaft@haftgroupinc.com
    herbhaft@aol.com

    ST. ELIAS MINES LTD.
    Suite 304 - 700 West Pender Street
    Vancouver, British Columbia
    Canada V6C 1G8

    Telephone: (604) 669-4677
    Facsimile: (604) 669-9626
    Toll Free: (888) 895-5522