St. Elias Mines Ltd. - Spin-off of Havilah Mines Ltd.
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 St. Elias has postponed the completion of its spin-off transaction ("Plan of Arrangement") of
its BC Properties into Havilah Mines Ltd. (“Havilah”), a new company incorporated for the purpose of
facilitating the Plan of Arrangement. The concurrent financing and listing of Havilah on the TSX Venture
Exchange will also be postponed, all due to market conditions. The Company intends to finalize the
spin-off, financing and listing of Havilah in the fall.
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)
U.S. Investor Relations Consultant
The Haft Group, Inc.
ST. ELIAS MINES LTD.
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