Mr. Gilby Hastman, on behalf of the concerned shareholders, reports

CONCERNED SHAREHOLDERS OF ST. ELIAS MINES LTD. SUSPEND FURTHER LEGAL ACTION

Gilby Len Hastman and Darcy Kim Hastman (the concerned shareholders) do not intend to take further action against St. Elias Mines Ltd. at this time. This is not a decision that has been taken lightly. The concerned shareholders would like to thank the shareholders that actively supported them.