St. Elias Mines Ltd; Standard & Poor’s Initiates Factual Stock Report Coverage on St. Elias

Vancouver, British Columbia - August 3, 2010 - Lori McClenahan, President of St. Elias Mines Ltd. (SLI - TSX:V) ("St. Elias"), announced today that Standard & Poor's has commenced Factual Stock Report coverage on St. Elias. The Stock Report is updated weekly and reflects the latest pricing, trading volume, key stock statistics and numerous other items. In addition, an assigned Standard & Poor's writer will update the commentary following the release of St. Elias' latest interim/annual reports. Please visit www.steliasmines.com to view the Stock Report.

This report will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts.

About Standard & Poor's Factual Stock Reports

This Standard & Poor's service provides factual research coverage enabling information about St. Elias Mines Ltd and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company's fundamentals and business prospects. Currently profiling over 500 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information.

Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.

Standard & Poor's Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor's. Standard & Poor's Factual Report research has no access to non-public information received by other units of Standard & Poor's. Standard & Poor's does not trade on its own account.

Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P's STARS research) are eligible to obtain this coverage.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 10,000 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com

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: