Stelmine Close a $ 325,000 Financing

MONTREAL, QUEBEC, Jun 16 (MARKET WIRE) --
Stelmine Canada Ltd. (TSX VENTURE: STH) ("Stelmine") announces that it
has closed a $325,000 financing consisting of 3,250,000 units (each a
"Unit" and collectively, the "Units") of Stelmine, at $0.10 per Unit, for
total gross proceeds of $325,000. Each Unit is comprised of one common
share of Stelmine and one common share purchase warrant entitling the
holder thereof to acquire one additional common share of Stelmine at
$0.15 per share for a period of 12 months following the closing date.

All securities issued pursuant to the private placement are subject to a
four-month hold period expiring on October 16, 2009. The private
placement is subject to final TSX Venture Exchange acceptance for filing.

Two insiders have participated to the private placement for an aggregate
of $15,000.00. A material change report with respect to the private
placement has not been filed at least 21 days before the expected date of
the closing as Stelmine was in need of the funds. Stelmine considers the
shortened timeframe to be reasonable and necessary under these
circumstances.

Proceeds of the private placement will be applied towards ongoing work on
properties, and for operating working capital purposes.

Stelmine is a junior mining exploration company, the common shares of
which are listed on the TSX Venture Exchange. It primary objective is to
develop and bring into production viable gold and base metal deposits.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Stelmine Canada Ltd.
Michel Lemay
514-866-6299
514-866-8096 (FAX)

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