Trading Symbol:  SLI (TSX Venture Exchange)

EKL (Frankfurt Exchange)

SELSF (U.S. Clearing Symbol)

News Release 2008-08

April 11, 2008

NEWS RELEASE

DRILLING EXPANDS LAKE ZONE MOLYBDENUM MINERALIZATION
- CARMI (KETTLE RIVER) MOLY PROJECT, BC

Lori McClenahan, President of St. Elias Mines Ltd. (�St. Elias� or the �Company�), is pleased to announce the following update received from Hi Ho Silver Resources Inc. (�Hi Ho�) with respect ongoing exploration activity at the Carmi (Kettle River) Molybdenum Property (the �Property�) located in southwestern British Columbia.  Hi Ho has an option to acquire up to a 70% interest in the Property from St. Elias.

Hi Ho has recently received analytical results from the third round of diamond drilling at the property.  This program consisted of eight diamond drill holes split between the Lake zone and the E zone. Approximately 1,500 metres separate these two zones.  Hi Ho drilled four holes in two chargeability anomalies between the two zones last winter, which encountered anomalous molybdenite mineralization.  Results of the first four holes, all drilled at the Lake zone, are summarized in the Lake zone drilling results table.  It is expected the remaining results will be released by the middle of next week.

LAKE ZONE DRILLING RESULTS

Hole ID           From (m)  To (m)  Interval (m)  Mo (%)  MoS2 (%)   Re (g/t)

07-214              43.86  163.37        119.51   0.044     0.074    &nb
 sp; 0.017

Including             133  160.58         27.58   0.066     0.110      0.043

Including          149.50  160.58         11.08   0.103     0.172     
  0.065

07-215              32.00  194.17        162.17   0.029     0.048    Pending

Including          167.00  194.17         27.17   0.067     0.112    Pending

07-216
                6.10  122.00        115.90   0.031     0.051      0.019

Including            6.10   27.40         21.30   0.050     0.083      0.029

Including           20.90   25.30          4.40   0.169     0.283      0.098

Including           49.30   53.64          4.34   0.042     0.069      0.028

Including &
 nbsp;         84.68  122.00         37.32   0.048     0.080      0.033

Including          108.74  122.00         13.26   0.093     0.155      0.069

Including          118.75  122.00          3.25   0.173     0.288      0.159

07-217             134.00  232.00         98.00   0.039     0.065      0.021

Including          158.85  166.85          8.00   0.074     0.123      0.054

Including          171.00  202.00         31.00   0.043     0.072      0.024

Including          210.50  232.00         21.50   0.051     0.085      0.020

(i) MoS2 multiplied by 0.5994 equals Mo

All four drill holes are angle holes and show that the Lake zone mineralization continues southwest of the previously tested area.  A map showing drill hole locations will be posted on the company's website shortly.  St. Elias and Hi Ho are certainly pleased with the grades and their overall consistency in the Lake zone, where a great deal more drilling is planned and warranted.

These latest results are currently being compiled and will be incorporated into a National Instrument (NI) 43-101-compliant resource estimate.  It is anticipated that this work should be completed by mid-June, 2008.  A total of 221 drill holes have been completed on the property by all parties.  The property is located eight kilometres from a paved highway and is easily accessible by two-wheel-drive vehicle.  The project benefits from good infrastructure; high-voltage power is nearby and the community of Beaverdell (location of the formerly producing Highland Bell mine) is less than 30 kilometres away.

All drill core was logged, split and sampled at a secure core facility at Beaverdell.  The work program at Carmi was designed and is supervised by Paul Reynolds, P.Geo., and Michael Sanguinetti, P.Eng., who are independent qualified persons under the definition of National Instrument 43-101. They are responsible for all aspects of the work including the quality control/quality assurance program.  On-site personnel at the project collect and track samples which are then sealed and shipped to Acme Analytical Laboratories Ltd. in Vancouver and Eco Tech Laboratory Ltd. in Kamloops.  Both are certified analytical laboratories.

Analytical accuracy and precision are monitored at the laboratory by the analysis of reagent blanks, reference material and replicate samples.  Quality control is further assured by the use of international and in-house standards.  Blind certified reference material and blanks are inserted at regular intervals into the sample sequence by on-site personnel in order to independently assess analytical accuracy.  Finally, blind duplicate samples are forwarded to the labs for additional quality control.

The technical information contained in this news release has been verified by, Paul Reynolds, P. Geo., who is a qualified person as defined in �National Instrument 43-101, Standards of Disclosure for Mineral Properties.�

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).

ST. ELIAS MINES LTD.

(signed �Lori McClenahan�)

Lori McClenahan,

President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.

This news release contains forward-looking statements regarding the ongoing and upcoming exploration work and expected geometry of geological formations and structures.  Actual results may differ materially from those currently anticipated in such statements.