St. Elias Mines Ltd. Announces Annual and Special General Meeting and Advance Notice Policy

VANCOUVER, British Columbia, Oct. 2, 2012 -- VANCOUVER, British Columbia, Oct. 2, 2012 /PRNewswire/ -- Lori McClenahan, President of St.Elias Mines Ltd.(SLI – TSX:V) (Frankfurt Exchange: EKL) (U.S. Clearing Symbol: SELSF) ("St. Elias" or the "Company") announces that theCompanywill hold its 2012 Annual and Special General Meeting (the "Meeting") in Vancouver, BC, as follows:

TheCompanyalso announces the approval by its Board of Directors on September 27, 2012 of an advance noticepolicy(the "Policy") regarding meetings of shareholders. ThePolicy,among other things, includes a provision that requires advance notice to theCompanyin certain circumstances where shareholders of theCompanynominate persons for election to the Board.

ThePolicyestablishes deadlines by which holders of record of common shares of theCompanymust submit director nominations to theCompanyprior to any annual or special meeting of shareholders. ThePolicyalso sets forth certain information that a shareholder must include in the notice to theCompanyfor the notice to be accepted.

The deadline for notice to theCompanyin the case of an annual meeting of shareholders is not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.

The deadline for notice to theCompanyin the case of a special meeting of shareholders (which is not also an annual meeting), is not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The Policy is effective as of the date it was approved...