St. Elias Mines Ltd. Annual and Special Meeting of Shareholders Rescheduled to November 30, 2012

VANCOUVER, British Columbia, Oct. 29, 2012 /PRNewswire/ -- St. Elias Mines Ltd. (SLI - TSX.V) (Frankfurt Exchange: EKL) (U.S. Clearing Symbol: SELSF) announced today that the Annual and Special Meeting of Shareholders has been rescheduled to 11 a.m. (Vancouver time) on November 30, 2012 from the original schedule of 11 a.m. on November 27, 2012. The record date for the meeting is October 31, 2012.

The meeting will be held at Suite 2900, 550 Burrard Street in Vancouver. The location is unchanged from the Company's announcement on October 25, 2012.

Meeting materials will be mailed to shareholders and available on Sedar (www.sedar.com) and the St. Elias website (www.steliasmines.com) in advance of the meeting.

About St. Elias

St. Elias is a gold focused exploration company led by an experienced management team and active in Peru and British Columbia. St. Elias' properties have high potential and are located in two of the most prolific mining regions of the world.

For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call Danny Aaron at 1-888-895-5522 (toll free US and Canada).

ST. ELIAS MINES LTD.

(signed "Lori McClenahan")

Lori McClenahan, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.

SOURCE St. Elias Mines Ltd.

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