How Could Things Go So Wrong? Was This News Release A Joke??

March 2, 2011

NEWS RELEASE

St. Elias Mines Ltd. – Corporate Presentation in Florida

Lori McClenahan, President of St. Elias Mines Ltd. (the “Company”), announces that as part of its ongoing road shows, the Company has been selected to present at the Third Annual Spring Break for Wall Dinner Street Growth and Value Conference in Deerfield Beach (Boca Raton), Florida as follows:

The presentation is by invitation only to prominent investment bankers, international mine financiers and high net worth individuals. The presentation will include an update of the Company’s recent exploration activities in Peru, in particular, the Tesoro Gold Project located in southwestern Peru.

St. Elias is also pursuing a listing of the Company’s shares on the AMEX Stock Exchange and, to this end, representatives of the Company are engaged in ongoing meetings with legal and financial firms to secure a sponsorship.

For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call
1-888-895-55221-888-895-5522 (toll free US and Canada) or contact:

ST. ELIAS MINES LTD.

(signed “Lori McClenahan”)

Lori McClenahan,

President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.

This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.

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