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Additional Information
Market: TSX-V
Sector: Gold Mining
EPIC: SLI
Latest Price: 0.46  (-8.00% Descending)
52-week High: 2.62
52-week Low: 0.45
Market Cap: 53.87M
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St. Elias Mines
www.steliasmines.com

The principal business of St. Elias Mines Ltd. is the acquisition, exploration, development and sale of high potential mineral properties in the most prolific regions of the world.  At present, the Company is focusing its exploration efforts on gold in Peru with three gold properties (Tesoro, Vilcoro and Cueva Blanca.)

Full St. Elias Mines profile here
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St. Elias Mine's McClenahan appears on Fox Business News segment

24th Jan 2012, 9:39 am by Proactiveinvestors
St. Elias Mine's McClenahan appears on Fox Business News segment

St. Elias Mines' (CVE:SLI) president and chief executive Lori McClenahan recently talked about gold prices on a Fox Business News segment.

McClenahan said that the price of gold wouldn't fall and the there were a lot of reasons why the price was up.

"They range from the pure fundamentals, the excessive printing of fiat money, political unrest. There's a bunch of reasons why gold has gone up and stayed strong over a long period of time," McClenahan said.

"Not one of those reasons is going away, so gold is going to stay strong."

Asked about the impact on precious metals markets of exchange-traded funds, McClenahan said: "If gold just traded purely on the fundamentals, without all the derivatives around it, it would probably be a lot higher."

McClenahan pointed to the example of molybdenum.

"Moly never traded with the derivatives going around it, it was just pure supply and demand. The minute they put those derivatives on it, the price fell, it went right down."

"Gold is so strong, it's ignoring the derivatives right now."

In terms of forward prices, McClenahan declined to give a forecast, but said: "What I truly believe is that it's going to stay strong for a long time."

For investors looking to invest in gold, one way is to buy stock in gold majors: "They're very, very safe. They're producing and they've got the assets."

Investors also have a choice of buying gold bars directly. Another way is to invest in junior exploration companies - such as St Elias Mines.

"Quite frankly, people are attracted to the penny stocks because you get a ten-bagger a lot more easier than you could on a Barrick."

The full segment can be viewed here: http://www.youtube.com/user/StEliasMines

St Elias Mines is a junior gold explorer currently focused on three gold properties in Peru - Tesoro, Vilcoro and Cueva Blanca.

Most recently, the company unveiled drilling results from the its Tesoro project, where 11 holes have been completed for a total of 4,374.5 metres.

Notable results included 4.144 parts per million (ppm) of gold over 0.57 metres in hole DDH TE 01 and 1.148 ppm gold over 0.18 metres with 0.43 metres of 9.438 ppm gold in hole DDH TE 04.

Tesoro covers approximately 6,974 hectares and is part of the prolific 300 kilometre by 30 kilometre Nazca-Ocoña gold belt in Peru.

To date, the company has identified five mineralized zones with more than 50 quartz veins, having a total combined length of nine kilometres.

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