Jun 12, 2012 (ACCESSWIRE-TNW via COMTEX) -- Vancouver, B.C. June 12, 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.