St. Elias dissidents want to send funds for Peru assets

2013-05-29 18:35 ET - In the News

Mr. Gilby Hastman reports

CONCERNED SHAREHOLDERS OF ST. ELIAS MINES LTD. ANNOUNCE CONCLUSION OF OPPRESSION HEARING AND FILING OF NEW APPLICATION TO THE BC SUPREME COURT

The hearing of the oppression petition to overturn the results of the annual general meeting of St. Elias Mines Ltd. held on Dec. 27, 2012, concluded on May 28, 2013. The Supreme Court of British Columbia has reserved judgment and will be issuing a decision, likely in writing, at a later date.

Also on May 28, 2013, the concerned shareholders filed an application to the court concerning the company's interest in properties in Peru. Pursuant to the application, the concerned shareholders will be requesting, among other matters, permission from the court to provide funds, in an amount up to $90,000, to the company to ensure that its interests in the Peruvian properties are renewed. A date has not yet been scheduled for the hearing of the application, and the concerned shareholders' request will not be considered by the court until such a hearing has been scheduled and completed.

The concerned shareholders will continue to provide the company's shareholders with timely updates on further developments in the application and the judgment of the petition through news releases.

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.

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