St. Elias Mines

Vancouver, B.C. April 17, 2013, St. Elias Mines (SLI - TSX:V) ("St. Elias" or the "Company") announces that it has come to the Company's attention that there was an error with respect to the depth of one of the drill holes at the Tesoro Gold Project in Peru as reported in the Company's news releases dated January 10, 2012 and January 23, 2012. It was announced that DDH-TE-08 was drilled to a depth of 330.0 metres when it was actually drilled to a depth of 233.0 metres. This drill hole was one of 43 drill holes of a drill program in excess of 12,000 metres. This error was essentially a data entry error and has no impact on the overall results of the drilling program, nor does it prejudice any conclusions that might be drawn from those results