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Tuesday, September 28, 2010

Mining Stocks News; St. Elias Mines Ltd. -- Strawberry Flats Gold Project, B.C.

Mining Stocks News; St. Elias Mines Ltd. -- Strawberry Flats Gold Project, B.C.

VANCOUVER, BC--(http://www.investorideas.com/ mining and gold stocks blog )  - September 28, 2010) -  Lori McClenahan, President of St. Elias Mines Ltd. (TSX-V: SLI) (FRANKFURT: EKL) (US Clearing Symbol: SELSF) ("St. Elias"), is pleased to announce the following update received from Dorex Minerals Inc. ("Dorex") with respect to the Strawberry Flats Gold Project (the "Property") located in southern British Columbia approximately 20 kilometers northwest of the historic Rossland Mining Camp. Dorex has options to acquire up to an 80% interest, subject to a 1.5% NSR, in the Property from St. Elias.


Dorex has completed the Phase I rock, silt and soil geochemical sampling program on the Property. Over 1,200 soil samples, 28 rock samples and eight (8) silt samples were collected by Dorex employees and contractors during the 10 day, on-the-ground program in late summer 2010. The Phase I exploration program was designed to confirm, infill and expand the historic gold-in-soil geochemical anomalies reported by previous workers as well as to ground truth the surface and underground workings on the Strawberry Flats Gold Property.


The bulk of the Phase I program consisted of a large geochemical grid covering an area of approximately 1.8 km by 1 km with 50 m spaced lines sampled on 25 m to 50 m centres. This grid was focused on expanding the historic geochemical grids to the north towards Astral Mining Corp's contiguous Jumping Josephine Project. In addition, one detailed geochemical grid was established near the known anomalies on the Strawberry Flats Gold Project during this program. This detailed grid covered an area of approximately 120 m by 140 m with 20 m spaced lines and sampled on 10 m centres.
All collected samples were shipped to ACME Analytical Laboratories in Vancouver, B.C. where they were sent for analysis by Group 1EX ICP-MS for 41 elements and a 30 gram Fire Assay Finish (Group 3B01) on all samples.
Assay results are expected to be received shortly, and once compiled, these results will be used to define and prioritize targets for a Phase II follow-up mechanized trenching program planned for later this fall. Phase II will also concentrate on additional sampling from the historic anomalies as well as any newly generated geochemical anomalies from the Phase I program.
Dorex's 2010 exploration programs are primarily designed towards delineation of future drill targets for a Phase III diamond drilling program by confirming and expanding on the historical work from the Property including a trenching program completed by Cameco in 1989-1990.
The 1989-1990 programs were conducted to follow up on a potential bedrock source of gold-in-soil anomalies within the Strawberry Flats Gold Project. Cameco's "Trench No. 5" averaged 7.04 g/t Au (from continuous one-metre-long chip samples) over its 12 metre length and exposed a 7 metre wide fault zone with heavily silicified and pyrite chalcopyrite-galena-sphalerite-iron carbonate veined sections, with the a single 2 metre section reported to average 39.16 g/t Au and 6.55 g/t Ag.
Cameco's report indicated that the seven-metre-wide, west-northwest-trending mineralized structure exposed in Trench No. 5 is of sufficient grade to warrant follow-up along strike in both directions and at depth.
The Strawberry Flats Gold Project adjoins the Jumping Josephine gold project owned by Astral Mining Corp. and Kootenay Gold Inc. Drilling results from Astral on the Jumping Josephine main zone have included 10 metres of 9.95 g/t Au and 8 metres of 8.31 g/t gold.
Technical details contained in this news release have been reviewed by Paul D. Gray, P.Geo., Company Director and a qualified person as defined in National Instrument 43-101.
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) or contact:
ST. ELIAS MINES LTD.
(signed "Lori McClenahan")
Lori McClenahan,
President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.
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.
European Investor Relations
Nicholas Fuller
Nick Fuller & Associates
Tel: 011-44-207-256-5204
Email: nick@fullerir.com

U.S. Investor Relations
Herbert Haft
The Haft Group, Inc.
Tel: (212) 759-8865
Email: herbhaft@haftgroupinc.com
herbhaft@aol.com



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