Mr. Gilby Hastman, concerned shareholder, reports

CONCERNED SHAREHOLDERS OF ST. ELIAS MINES LTD. CLARIFY MANAGEMENT'S NEWS RELEASE

Gilby Len Hastman and Darcy Kim Hastman (the concerned shareholders) wish to clarify a news release published by St. Elias Mines Ltd. on Jan. 17, 2013.

The management news release implies that the concerned shareholders are not co-operating with management of the company in moving the company forward as desired by the shareholders of the company. Nothing could be further from the truth.

Management has offered to place two of the concerned shareholders' five nominees on the board of the company, resulting in a board that would consist of two dissident nominees and three management nominees.

Management's offer would not give effect to the change of control of the board that was voted for by an overwhelming 91 per cent of the company's shareholders at the company's annual general meeting (AGM), and would entrench management in control of the company for another year. The concerned shareholders believe that the company cannot afford another year under the same management.

The concerned shareholders invited management, both before the AGM and as recently as last week, to discuss a reconstitution of the board in a way that aligns with the clearly expressed desires of the shareholders of the company to have the board consist of a majority of the dissident nominees. Management has rejected these invitations and continues to thwart the will of its shareholders and ignore their fundamental rights.

If you have any questions, please contact either of the concerned shareholders as follows: Gilby Len Hastman (1-780-974-5925), Darcy Kim Hastman (1-780-974-5924) or by e-mail at steliasnominees@gmail.com.