St Elias Mines Ltd. and Intigold Mines Ltd. announced update regarding the status of ongoing exploration at the Chance E mineral concession, which adjoins St. Elias' wholly owned Tesoro Gold Project located in southwestern Peru. The Chance E is owned 100% by St.

Elias with Intigold having an option, subject to regulatory approval, to acquire a 60% interest in the Chance E. Exploration work, consisting of geological mapping and sampling, prospecting, satellite imagery and control grid emplacement, is ongoing. To date, two major geological domains have been identified within the Chance E. In the eastern and southeastern sections, the main exposed unit is Tertiary-age lithic/ash and volcanic tuff. In the western half, the rocks are Cretaceous-age diorite and quartz diorite, identical to the intrusive rocks in the northern part of St.

Elias' Tesoro project. The volcanic tuff covers 40-50% if of the Chance E concession. The western part of the Chance E is virtually free of volcanic cover, because it is relatively mountainous and the cover rocks have been eroded away.

The Chance E is bisected by a major northeast-striking fault and by at least three secondary east-striking splay faults. These faults have a 'Letter Z' shaped geometry, with the regional fault represented by the diagonal. These faults are in the intrusive complex and are much older than the overlying Tertiary tuff.