IRW-Press: St. Elias Mines Ltd. - Spin-Off Of Havilah Mines Ltd.

by Press Office

(IRW-PRESS and WireNews+Co) - Vienna, Austria - 13 June 2012

Lori McClenahan, President of St. Elias Mines Ltd. (SLI – TSX:V) (“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 (http://www.wirenews.co/mailto:herbhaft@haftgroupinc.com)
herbhaft@aol.com (http://www.wirenews.co/mailto: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