Standard & Poor's Initiates Factual Stock Report Coverage on St. Elias Mines Ltd.
Standard & Poor′s announced today that it has commenced Factual
Stock Report coverage on St. Elias Mines Ltd.
St. Elias Mines Ltd. (TSX:SLI), in the exploration stage as of February
28, 2010, acquires, explores and develops natural resource properties.
The company owns, or has acquired an option to earn an interest in,
properties located in Peru and British Columbia. In recent years, the
company has focused its exploration efforts on the Tesoro Gold Property
in southern Peru.
The Tesoro Gold Project is 100% owned by the company with no underlying
royalties. The property covers approximately 2,000 hectares (5,000
acres) and is part of the gold-bearing Nazca-Ocona belt that is located
in southern Peru. The Nazca-Ocona gold belt has a long mining history.
Gold is associated with disseminated to semi-massive sulphides in quartz
veins cutting a diorite intrusion. According to the company, the
continuity of the quartz veins and fractures is very impressive in the
Nazca-Ocona belt. While the veins tend to be narrow, the grade is
significant and the mineralized structures tend to extend along strike
for kilometers and to depths of up to 1,000 meters.
During the quarter ended February 28, 2010, the company entered into an
agreement with Emilsen Medina Inga de Brophy (Inga) to acquire a 50%
interest in the Vilcoro Gold Property located in north-central Peru in
consideration of making a cash payment of US$10,000 and issuing 200,000
common shares to Inga. Subsequent to the quarter, the company and Inga
(collectively, the Vendors) entered into a letter agreement with Ansell
Capital Corp. whereby Ansell has agreed to acquire an option to earn a
65% interest in the Vilcoro Property (subject to a 1.5% net smelter
return royalty) from the Vendors.
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. Please visit www.steliasmines.com
for additional information.
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.
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St. Elias Mines Ltd.:
Lori McClenahan, 604-669-4677
lmcclenahan@steliasmines.com
or
Standard
& Poor's:
Customers:
Richard Albanese, 212-438-3647
richard_albanese@standardandpoors.com
or
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Relations:
Michael Privitera, 212-438-6679
michael_privitera@standardandpoors.com