ST. ELIAS MINES LTD. -- 2014 ANNUAL AND SPECIAL GENERAL MEETING

St. Elias Mines Ltd. has rescheduled its 2014 annual general and special meeting to March 27, 2014. The meeting will be held on March 27, 2014, at 10 a.m. (PST) at the offices of the company located at Suite 304, 700 West Pender St., Vancouver, B.C., V6C 1G8.

Shareholders will be asked to approve a name change and share consolidation of the company's issued and outstanding common shares at a ratio of 20 preconsolidation shares to one postconsolidation share at the meeting. The board of directors is recommending shareholders approve the share consolidation to better position St. Elias to finance its exploration and development activities on its mineral properties.

St. Elias currently has 117,118,355 common shares issued and outstanding. Further details regarding the name change and share consolidation are set out in the company's information circular mailed to shareholders. The company also announces that Paul McDonald has resigned as a director of the company.

St. Elias Mines Ltd. has rescheduled its 2014 annual general and special meeting to March 27, 2014.

No surprise here.

Shareholders will be asked to approve a name change

While I 100% beleive a name change is absolutely critical to any future success of St. Elias Mines due to its direct association with abject failure, destructive operations and the current CEO... Unfortunately anyone looking at SLI as a potential long-term investment that does any due diligence will easily be able to connect the dots to the past failures.

In light of this...while a name change (rebranding) of all things SLI is critical...if the new name leads back to the "same old, same old" incompetent operations and management...it will not have the desired positive result.

share consolidation of the company's issued and outstanding common shares at a ratio of 20 preconsolidation shares to one postconsolidation share at the meeting.

This matters little...as long as current management is in place they will continue business as usual. Some may argue that this is critical to raising capital...however if this were critical...why were shareholders who were interested in the PP, not communicated with promptly or at all?

There is no question that as a direct result of current managements absolute failure in all aspects of running SLI...SLI needs to raise money.

The fact of the matter for one...is that raising money would be infinitely easier with a fresh management team in place

...secondly who should be in charge of spending the raised funds once it has been raised...the person who has clearly failed in the past on so many levels...or a freshly minted team?

The company also announces that Paul McDonald has resigned as a director of the company.

It's a shame that Mr. McDonald is gone before he even had a chance to do anything positive for the company.

........

Nothing here is a surprise...and certainly there is no good news contained within this release for shareholders who are of the mindset that the path forward is with a new management team. Anyone suggesting otherwise is either a fool or has an agenda...also not surprisingly

S.