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Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE

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Message: AGM Update

Thanks BOW for the update. Tell everybody we will meet, when our ship comes in.

I will give a couple of opinions on your points for us here at home.

1) The lack of news and/or updates, I think Lori hears that loud and clear. She said she will make an effort to keep us informed on a more regular basis.

1) We are pleased to hear that if she can execute on it. We need all the things that she hasn,t reported on so far, that she could have.A couple of these things are; C-2 vein bulk sample taken April 10 th/2010, supposed to be reported on 2 weeks later.

http://steliasmines.com/newsrelease/st-elias-mines-ltd-%e2%80%93-tesoro-gold-project-%e2%80%93-update/

The ongoing sampling mentioned here in this release of Aug 26/2010;

The surface exploration program (rock samples, soil samples, trenching) to examine and evaluate geophysical anomalies is ongoing and results will be announced as and when available.

http://steliasmines.com/newsrelease/st-elias-mines-ltd-%e2%80%93-u

pdate-on-corporate-affairs/

If she would answer one of the hub leaders calls, then we can update investors here, I beleive most SLI investors visit this board. A regular update could be put up in Presidents DD, so it is easily accessed by one click and the more busy people don,t have to read numerous posts, if they don,t want to.

2) Drilling, please don't shoot the messenger, but she said we were not quite 1/2 way through the original 10,000M program. However, what I liked, is that she said she would not move or rush the rigs out due to weather conditions. The rig (yes, only 1 rig) will remain there

2) I calculated a week or 2 ago that we should have been around 64% finished, going by the NR that stated when we started. I have to say Jakes timelines are gonna be more correct than mine were. This is because there is only one rig on the property, if we would have had 2 there, we would have almost been finished with the shallow drilling.

I had some concern that the rainy season starting in Dec, lasting til May, would jeopardize the drilling. But, I see from what she said, that will not be a concern, because the rig will remain.This should give us a constant news flow of results through the winter as they come in. I personally did not want one release when we were all done drilling, where she wants to support our sp, she will release them as they come in.

3) She said, 2 majors wanted to sign Non Disclosures, but SLI would not, at this point. And yes, they did kick one of them off the property.

3) I didn,t want her to sign any non-disclosure because it takes away the chances for a bidding war. Its better without non disclosures, that way the results get out in the open and allows more eyes to look at them and decide if they want to bid on the property. The more bidders, the better.

For one major to be snooping around our property, tells me there is considerable interest by possible suitors. Where there are 2 majors interested, this makes it better, because when/if a bidding war starts, we know we already have two contestants. This also lends more to the probability of an early offer. It may not take many holes/assays before they make a formal offer, if they like what they see.

4) The blackout is still in effect.

4) So, this means results from trenching, first drill cores or other could come at anytime.

5) I asked was the 100% owning of the Vilcoro, did that not justify a NR. She replied yes, probably. I assume, she'll do her best to keep us better informed in the future

5) Where that has been brought to her attention, hopefully she catches us up on all the other things she hasn,t been in the past. I suspect there is still more, and maybe she will review some of the stuff and determine if its material, with a better perspective.

IMO

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