Trading Symbol:SLI (TSXVenture Exchange)

EKL(Frankfurt Exchange)

SELSF (U.S.Clearing Symbol)

News Release 2011-03

March 2, 2011

NEWSRELEASE

St. Elias Mines Ltd. – Corporate Presentation in Florida

Lori McClenahan,President of St. Elias Mines Ltd. (the “Company”), announces that as part ofits ongoing road shows, the Company has been selected to present at the Third Annual Spring Break for Wall Dinner Street Growth and ValueConference in Deerfield Beach (Boca Raton),Florida as follows:

Deerfield Beach (Boca Raton)Florida

Date:Thursday March3, 2011

Location:Deer Creek Country Club

Deerfield Beach (Boca Raton), Florida

The presentation is by invitation only to prominent investment bankers,international mine financiers and high net worth individuals.The presentation will include an update ofthe Company's recent exploration activities in Peru, in particular, the TesoroGold Project located in southwestern Peru.

St.Elias is also pursuing a listing of the Company’s shares on the AMEX Stock Exchangeand, to this end, representatives of the Company are engaged in ongoing meetingswith legal and financial firms to secure a sponsorship.

For additionalinformation on St. Elias and its projects, please visit us atwww.steliasmines.com or call
1-888-895-5522 (toll free US and Canada).

ST. ELIAS MINES LTD.

(signed “Lori McClenahan”)

Lori McClenahan,

President

The TSX Venture Exchange has not reviewed anddoes not accept responsibility for the adequacy or the accuracy of the contentsof this document.