Win-Eldrich Mines Limited Provides First Default Status Report

TORONTO, May 14 /CNW/ - Win-Eldrich Mines Limited (TSXV-WEX) ("Win-Eldrich" or the "Company") is providing its first default status report pursuant to National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). In its initial default announcement issued on May, 5, 2010, the Company announced that it had delayed the filing of its audited annual financial statements for the fiscal year ended December 31, 2009, the related management's discussion and analysis and the related CEO and CFO certifications (collectively, the "Annual Filings") beyond the April 30, 2010 deadline required by National Instrument 51-102 - Continuous Disclosure Obligations. A temporary management cease trade order in respect of the securities of the Company was issued by the Ontario Securities Commission on May 7, 2010.

The Company indicated in its original default notice that it anticipated being able to file the Annual Filings on or before May 14, 2010. The Company now anticipates that it will be able to file the Annual Filings on or before May 28, 2010. The Company is making every effort to comply with its continuous reporting obligations.

Since the original default announcement issued on May 5, 2010, other than the anticipated additional delay in filing the Annual Filings, there have not been any material changes to the information contained in the announcement nor any failure by the Company to fulfill its intentions stated therein, there have not been any specified defaults and there are no anticipated defaults, and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company will continue to provide bi-weekly updates, as required by NP 12-203, until the Annual Filings have been filed.

NEITHER THE 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.

For further information: Perry Muller, President and Director of Win-Eldrich, at [phone]