St. Eugene Mining Corporation Ltd.
TSX VENTURE : SEM

St. Eugene Mining Corporation Ltd.

March 15, 2011 09:05 ET

St. Eugene Stakes Ground Surrounding Amisk Gold Discovery

TORONTO, ONTARIO--(Marketwire - March 15, 2011) - St. Eugene Mining Corporation Limited (TSX VENTURE:SEM) ("St. Eugene") is pleased to announce that it has staked and made application for additional claims comprising approximately 10,000 hectares, located in the vicinity of the existing Amisk Gold Project, which is situated 20 kilometers west of the Manitoba/Saskatchewan border within in the Flin Flon-Snow Lake greenstone belt.

Jennifer Boyle, Chief Executive Officer of St Eugene states: "The newly staked ground contains approximately 17 showings and covers an area approximately 30 kilometers long and 15 kilometers wide, and is considered strategic, in that it has been interpreted to cover geophysical anomalies and potential mineralized extensions from the Amisk Gold Project."

The area recently staked has been subject to a considerable amount of exploration between the 1960's through the 1990's. The properties are strategically located in proximity to the Amisk Gold joint venture property, which is hosted within a rhyolite flow-dome complex and overlying pyroclastic tuffs of the Amisk Volcanic Assemblage, Flin Flon Greenstone Belt. High grade gold and silver mineralization is hosted within a series of moderately to shallowly-dipping, pyrite +/- chalcopyrite-sphalerite-tetrahedrite-galena-bearing sulphide vein systems. High grade vein systems are typically flanked by wide intervals of low grade disseminated and stringer mineralization within a broad sericite alteration envelope.

Certain of the newly staked claims are in close proximity to the Amisk Gold Project, a 65:35 joint venture with Claude Resources that comprises over 13,000 hectares. Claude Resources shall be provided with the right to participate in new ground acquired in accordance with the terms of the joint venture agreement.

Wes Hanson, P.Geo., Chairman of St. Eugene, is the Qualified Person who has reviewed and approved the contents of this news release for and on behalf of St. Eugene.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of St. Eugene contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause St. Eugene's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding St. Eugene's expectations regarding ownership, entitlements, drilling and exploration activities on properties in which St. Eugene has, or believes it has an interest. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from St. Eugene's expectations. St. Eugene undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, unless otherwise required by law.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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

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