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Trading Symbol: SLI (TSX Venture Exchange)

EKL (Frankfurt Exchange)

SELSF (U.S. Clearing Symbol)

News Release 2012-16

June 12, 2012

Vancouver, B.C. June 12, 2012 Lori McClenahan, President of St. Elias Mines Ltd. (SLI - TSX:V) ("St. Elias" or the "Company") announces today that Murry Braucht has been removed as Vice-President of the Company and terminated with cause effective immediately.

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

U.S. Investor Relations Consultant

Herbert Haft The Haft Group, Inc.

Tel: (212) 759-8865

Email: herbhaft@haftgroupinc.com

herbhaft@aol.com

ST. ELIAS MINES LTD.

(signed "Lori McClenahan")

Lori McClenahan, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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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