http://www.steliasmines.com/storage/news_releases/Sli-News-2008-07-Tesoro-FINAL.pdf

A4 Vein, Zona Central

The A4 Vein System has completely different characteristics from the C1 Vein in that the gold grades are

moderate with pockets or pods of multi-ounce material occurring. Results have been sporadically

spectacular (up to 11 oz/t gold in a 4-tonne bulk sample) with gold grades between the “bonanza” Page 2

ST. ELIAS MINES LTD.

News Release 2008-07 (April 1, 2008)

segments generally in the 2 to 7g/t range. To date, a total of 188 tonnes of bulk sample material

averaging 0.75 oz./t gold has been extracted from the A4 Vein.

In the underground workings on the A4 Vein, it appears that there is more mineralization than is apparent

from assay results of systematic face sampling at 2m intervals. For example, between 12 meters and 20

meters south of the shaft on the 42m level, six face samples yielded moderate assays that ranged between

0.60 and 6.63g/t gold (average grade is 0.1 oz/t). However, four face samples from a stope immediately

below this low-grade interval gave assays of 8.0 to 90g/t gold (0.23 to 2.6 oz/t) with an average grade of

approximately 1.0 oz/t. Similarly, 12 to 16 meters north of the shaft on the 42m level, three face samples

average 4.18g/t gold, while a face sample immediately above this returned an assay of 60g/t gold (1.75

oz/t). The Company is very pleased and somewhat surprised with this development, and it is apparent

that more detailed sampling must be conducted on the A4 Vein. In the future, systematic sampling will

be done at 1m intervals and select sampling will be done wherever the vein appears fertile (vuggy and

limonitic).