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Message: Q & A (part 2)

Questions « St Elias Mines Ltd

Page 2 of 10

Are there are more drill results coming from the last drill program? 0

There are no more drill results coming from the last drill program. All required results have been posted.

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Posted on: 10-8-2012Posted in: Questions

Why no contact what-so-ever from management towards shareholders in past months? 0

All material information is disclosed in news releases.

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Posted on: J 0-8"~0 12 Posted in: Questions

When you say "Tesoro has confirmed gold mineralization at depth" what does that mean? 0

Means that we hit gold bearing rock at a depth of 275 meters true depth 902 feet below surface. And that is significant because it shows mineralization goes to depth and is not a surface phenomenon

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Posted on: J 0-8-2012 Posted in: Questions

Any updates to the following sentence from the April 30, 2012 NR: The Companies have recently been approached by Compania de Minas Buenaventura (NYSE-BVN) to conduct a review of the property. The Companies are taking this into consideration. 0

Ongoing communication with Compania de Minas Buenaventura, a Peruvian mining company who part own Yanacocha, produce in excess of couple million oz who trade at approx $30 USD per share. They are still showing an interest.

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Posted on: 1 0-8-20 12 Posted in: Questions

Why are there were only a few narrow intercepts presented.? 0

08110/2012


The rock we hit that ran gold was confined to narrow vein structures

What is the status of Tesoro? 0

Management will be putting out a news release regarding the status of the Tesoro as-wert asy\news release on the status of each of our properties.

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Posted on: 10-8-2012Posted in: Questions

Internet posters strongly believe that St Elias Mines has purposely botched the drill program by drilling the perimeter of anomalies and by not drilling the actual anomalies. They feel that the Quantec drill plan should have been followed as prescribed by Quantec. Would you comment on this theory? 0

We did follow Quantec targets.

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Posted on: 10-8·2012Posted in: Questions

When did we acquire the new propertv to the east, where we drilled holes 37, 38, & 39? 0

That property was acquired within the last couple years through additional fractional staking.

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Posted on: J 0-8-20 12 Posted in: Questions

Why haven 't we seen solid drill results from deep into that massive Zona Central anomaly? 0

Drilling definitely did happen in the massive Zona Central however the results in the first round of drilling were not significant enough to warrant bringing in the deeper drill rigs

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