Replies to post #144 on Elysee Development Corp (ASXSF)

[NYBob]

Montanore, well Sterling may still have some time to negotiate
with the creditors, if the Chapter 11 is in power;

RE:
Sterling Mining To Voluntarily File For Bankruptcy Protection
Coeur d'Alene, Idaho --
March 2, 2009,
Sterling Mining Company (OTCB:SRLM) today announced that the Company intends to file a voluntary petition under the provisions of Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court, Coeur d'Alene, Idaho. The Company believes the filing will occur by the close of business on March 3rd, 2009.???

Sterling Mining Company has taken these actions after determining that seeking Chapter 11 bankruptcy protection is in the best interests of the Company, its creditors, stockholders and other interested parties in light of ongoing financial challenges and the inability to adequately fund operations and obligations. The Company will be debtor-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Code and orders of the Court.

Its some bidders who want to take over Sterling Mining -

E.g.,

Minco Silver Corporation
December 09, 2009
Minco Silver Makes a Firm Offer to Acquire Sterling Mining Company
Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV)
is pleased to announce that the Company has made a firm offer of USD$12,500,000 to acquire a 100% interest in Sterling Mining Company ("Sterling").

On December 2, 2009 Sterling filed with the United States Bankruptcy Court in the District of Idaho (the "Court") a disclosure statement providing information concerning Sterling's proposed plan of reorganization indicating that Minco Silver's offer is the best offer.

Pursuant to the provisions of Sterling's plan of reorganization Minco Silver will credit bid the full amount of its' secured claim estimated at USD$9,400,000, with the balance (approximately USD$3,100,000) paid in cash.

Minco Silver continues to fund Sterling's expenses associated with the care and maintenance of the Sunshine Mine and all of its' administrative costs pursuant to the terms and conditions of the Court approved Supplemental Post Petition Secured Financing Agreement.

About Minco Silver

Minco Silver Corporation (TSX: MSV) is a TSX listed company focusing on the acquisition and development of silver dominant projects. The Company owns 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt. Minco Silver is extremely pleased with the positive results of its Bankable Feasibility Study demonstrating a robust deposit is and is working towards bringing the Fuwan Silver Deposit into production. For more information on Minco Silver, please visit the website at www.mincosilver.ca
or contact Ute Koessler at 1-888-288-8288 or [phone] [e-mail].

ON BEHALF OF THE BOARD
"Dr. Ken Z. Cai"
Chairman & CEO