Vancouver, BC, October 7, 2011, Lori McClenahan, President of St. Elias Mines Ltd. (the "Company"), is pleased to announce that the Company has closed a non-brokered private placement previously announced on August 17, 2011. The private placement consists of 2,500,000 units at a price of $1.80 per unit raising gross proceeds of 4,500,000. Each unit consists of one common share and one share purchase warrant. Each
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