NEWS RELEASE

VILCORO GOLD PROPERTY , PERU - GOLD TREND EXTENDED TO 1,900 METERS

Lori McClenahan, President of St. Elias Mines Ltd. ("St. Elias"), and Marcus Johnson, President of Geneva Resources Inc. ("Geneva"), are pleased to provide the following update with respect to the ongoing Phase I exploration program at the Vilcoro Gold Property (the "Property") located in north-central Peru. Results from 365 channel samples and 36 quality-control check samples have confirmed widespread disseminated gold mineralization, and so far have defined two mineralized trends on the Property; the Main Trend and the South Trend.Geneva has an option to earn a 66% interest in the Property from St. Elias.

PIMA (portable infrared mineral analysis) analyses done on more than 100 samples indicate that gold is associated with kaolinite, illite, smectite and gypsum. This alteration assemblage is typical of low-temperature, moderately acidic high-sulphidation epithermal gold deposits.