STH Stelmine Canada Ltd

Stelmine Canada Ltd. ("Stelmine"), (TSX VENTURE:STH) announce the closing of a
private placement of: $543,000.


The private placement consist of:

242 units "A" (the "Units A"), at a price of $1,500.00 per Unit, each Unit "A"
consist of 8000 flow-through common shares at a price of $0.15 per flow-through
common share, 2,000 common shares at a price of $0.15 per common share and 2 000
share purchase warrants. Each share purchase warrant shall entitle its holder
thereof to acquire one additional common share of Stelmine at a price of $0.15
for a period of 12 months from the closing date for a gross proceed of $363,000.


180 units "B" (the "Units B"), at a price of $1,000.00 per Unit, each Unit "B"
consist of 10 000 common shares at a price of $0.10 per and 10 000 share
purchase warrants. Each share purchase warrant shall entitle its holder thereof
to acquire one additional common share of Stelmine at a price of $0.15 for a
period of 12 months from the closing date for a gross proceed of $180,000.


In connection with a tranche of this financing, Stelmine will pay a cash
commission of $33,000 to Canaccord Capital and will issue 220,000 broker
warrants, each broker warrant entitling Canaccord Capital to purchase one common
share of Stelmine at the price of $0.15 during a period of 18 months following
the closing date.


4 insiders has participates to this private placement of a gross proceed of:
$87,500.


All securities issued pursuant to the private placement are subject to a
four-month and one day hold period. The private placement and the payment of the
cash commissions are subjects to the final approval of the TSX Venture Exchange.


Proceeds of the private placement will be applied toward exploration work on the
Company's properties and towards meeting short term operating working capital
requirements.


Stelmine is a junior mining exploration company, the common shares of which are
listed on the TSX Venture Exchange.

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