VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2012) - Pursuant to the Advance Notice Policy of St. Elias Mines Ltd. (the Company), Gilby Len Hastman (the Nominating Shareholder), on behalf of a number of concerned shareholders of the Company, has sent a notice (the Notice) to the Company on November 27, 2012, that he proposes to nominate Gilby Len Hastman, Darcy Kim Hastman, Ted E.R. Rutherglen, James E. Rainbird, and Richard Alexander Defreitas (the Nominees) for election as directors of the Company at its annual general meeting of shareholders scheduled to be held on THURSDAY, DECEMBER 27, 2012 (the AGM) or any adjournment or postponement thereof.

Further information concerning the Nominees will be provided to the shareholders of the Company in advance of the AGM.

Gilby Len Hastman

Forward-Looking Statements

Certain statements in this news release contain forward-looking information within the meaning of applicable securities laws in Canada ("forward-looking information"). The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words.

The forward-looking information in this news release includes, but is not limited to: the nomination and election of the Nominees and replacement of the Company's current directors, the timing and holding of the AGM and the provision of information concerning the Nominees in advance of the AGM.

In connection with the forward-looking information contained in this news release, the Nominating Shareholder has made numerous assumptions. While the Nominating Shareholder considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause actual results, performance or achievements to be materially different from any future results, performance or achievements express or implied by the forward-looking information contained herein. Known risk factors include, among others: the Nominees may not be elected to the board of the Company, the AGM may not be held as currently anticipated, or at all and the Nominees may not have the qualifications necessary to act as directors of the Company.

All forward-looking information in this news release is qualified in its entirety by this cautionary statement and, except as may be required by law, the Nominating Shareholder undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise after the date hereof.