SJL Saint Jean Carbon Inc

Saint Jean Carbon Inc. ("Saint Jean" or the "Company") (TSX VENTURE:SJL) is
pleased to announce that it has entered into a non-binding agreement with a
non-arm's length party to acquire the Clot lump graphite property (the "Clot
Property"), a former past producing mine. The Company intends to sign a
definitive binding agreement with respect to the Clot Property shortly. 


The Clot Property is located in southern Quebec, 10 kilometres north-west of
Mont-Tremblant and approximately 150 km north-west of Montreal. The Clot
Property is made up of 5 established claims and 3 claims under request for a
total area of more than 297.4 hectares. The claims are located in highly
metamorphosed rocks which host a geological contact between a granitic intrusive
and marbles and quartzites, two metasedimentary units of the Grenville
geological Province. This represents a favorable geological context which is
known to host graphite deposits. The Company therefore believes the site has
good potential for graphite mineralization similar to historic mining operations
that occurred in the area.


The CEO of SJL, Mr. Paul Ogilvie stated: "The Clot property is on crown land and
falls within the same geological and regional areas as our Walker, Wallingford
and St. Jovite lump graphite properties and we are very pleased to have the
opportunity to add these new claims to our inventory of holdings which will
complete our lump acquisitions. This region has a long history of graphite
mining and we are looking forward to taking all steps necessary to develop our
properties into operating mines." A feasibility study has not been completed and
there is no certainty the proposed operations will be economically viable.


History on the Clot Property 

The new Clot claims surround an area that was known as the Clot Mine. Graphite
production was known to have occurred at the Clot Mine between 1907 and 1919.
Exploration, production and concentrate assays were undertaken in 1951 (Bourret,
1951) with about 800 tons of material extracted from the mine. Of that tonnage,
350 pounds were hand cleaned and concentrated to obtain a grade of 99.72%
carbon. Also 14 tons of lumps contained 94.7% carbon. In addition more than 100
tons of the material at the operating site was estimated to over 35% graphite
(Sigeom file GM01868). The remainder of the extracted material was under 20%
graphite or unclassified. The deposit is reported to be at least 56m (185 feet)
long and more than 3m (10 feet) in width (Bourret, 1952) - A qualified person
has not done sufficient work to classify the historical estimate as current
mineral resources or mineral reserves; and Saint Jean is not treating the
historical estimate as current mineral resources or mineral reserves.


Mrs. Isabelle Robillard the Company's geologist, P. Geo., Qualified Person
approves this release commented: "The Clot property offers a great opportunity
to find high grade graphite, in a relatively unexplored area located in the
vicinity of the historical Clot Mine. The geological context is highly favorable
to find additional lump veins".


Land access to the claims comprising the Clot Property is provided by multiple
public secondary all weather roads, from highway 117. Accordingly, future work
programs can be completed throughout the year. Local resources are also
available at the nearby cities of Labelle, located 3km along good road from the
Clot Property. Most of the Clot Property is on public land and water is abundant
from lakes and rivers crossing the property in a north-south direction. Power,
transportation and housing are available nearby and a local work force could
support a mining operation. The nearest railroad station is in Labelle and goes
up to the Clot Property on its west claim.


The Clot Property acquisition terms contemplate a payment of $5,000 CDN on
signing of the term sheet; an issuance of 3,500,000 shares and a cash payment of
$2,500 CDN on closing; a further 1,000,000 shares on the first anniversary of
the closing provided certain conditions are met. The Clot Property acquisition
is subject to the approval of the TSX Venture Exchange.


About Lump/Vein Graphite 

Lump or Vein graphite is considered to be one of the rarest, commercially
valuable, and highest quality types of natural graphite. It occurs in veins
along intrusive contacts in solid lumps and is currently only actively mined in
Sri Lanka. As a result of the carbon content typically found within lump/vein
graphite, production costs are normally lower than flake or amorphous graphite
recovery. Lump graphite processing techniques can include everything from hand
sorting of large concentrated samples to standard crushing, grinding, froth
flotation and milling. Lump/vein graphite is suitable for many of the same
applications as flake graphite giving it a distinct competitive edge in terms
market prices and product applications. 


About Saint Jean 

Saint Jean is a publicly traded junior mining exploration company with a number
of mining claims. The Walker property consists of 4 claims covering the past
mine and 11 claims covering interesting geological context for more graphite
mineralization in the region around the deposit, which is located 40 km
north-east of Ottawa. The Mount Copeland molybdenum deposit lies within
metamorphic rocks flanking the southern margin of Frenchman Cap Dome, 32
kilometers northwest of Revelstoke, British Columbia (the "Mount Copeland
Property"). The Fort-Eden copper property is comprised of 18 mineral tenures
that total 2,828.6 hectares in area. The mineral claims are located 100 km west
of Fort St. James, BC (the "Fort Eden Property"). The Red Bird deposit is
comprised of three zones of molybdenum concentration referred to as the Main,
Southeast and Southwest zones within a property totaling 1,836 ha (4,400 acres)
and is located 133 km southwest of Burns Lake and 105 km north of Bella Coola
(the "Red Bird Property"). The Company plans to divest (the "Divestitures") each
of the Mount Copeland Property, the Fort Eden Property and the Red Bird Property
through a sale or joint venture, thus allowing it to focus on building a
graphite mining company. Additionally, Saint Jean expects to acquire the new
lump graphite property in Quebec (the "Clot Acquisition") and the previously
announced new lump graphite properties in Sri Lanka from Han Tal Graphite (Pvt)
Ltd. (the "Han Acquisition" and together with the Wallingford, Jovite and Clot
Acquisitions, the "Acquisitions") in furtherance of its new focus.


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.


FORWARD LOOKING STATEMENTS: This news release contains forward-looking
statements, within the meaning of applicable securities legislation, concerning
Saint Jean's business and affairs. In certain cases, forward-looking statements
can be identified by the use of words such as "plans", "expects" or "does not
expect", "intends" "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Such forward-looking statements include those with
respect the Company's ability to complete Acquisitions and Divestitures and
become a graphite producing company.


These forward-looking statements are based on current expectations, and are
naturally subject to uncertainty and changes in circumstances that may cause
actual results to differ materially. The forward-looking statements in this news
release assume, inter alia, that the conditions for completion of the
Acquisitions and the Divestitures, including regulatory and shareholder
approvals, if necessary, will be met.


Although Saint Jean believes that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance that these
expectations will prove to be correct. There are risks which could affect Saint
Jean's ability to complete the Acquisitions and Divestitures, and the future
results of the Company which could cause actual results to differ materially
from those expressed in these forward-looking statements including negotiation
failure or delay, the impact of general global economic conditions and the risk
that they will deteriorate, industry conditions, including fluctuations in the
price of supplies and the risk that they will increase, that required consents
and approvals from regulatory authorities will not be obtained, that activity in
the lump or vein graphite business will not be at the level or of the nature
anticipated, liabilities and risks inherent in Saint Jean's operations,
technical problems, equipment failure and construction delay.


Statements of past performance should not be construed as an indication of
future performance. Forward-looking statements involve significant risks and
uncertainties, should not be read as guarantees of future performance or
results, and will not necessarily be accurate indications of whether or not such
results will be achieved. A number of factors, including those discussed above,
could cause actual results to differ materially from the results discussed in
the forward-looking statements. Any such forward-looking statements are
expressly qualified in their entirety by this cautionary statement.


All of the forward-looking statements made in this press release are qualified
by these cautionary statements. Readers are cautioned not to place undue
reliance on such forward-looking statements. Forward-looking information is
provided as of the date of this press release, and Saint Jean assumes no
obligation to update or revise them to reflect new events or circumstances,
except as may be required under applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Saint Jean Carbon Inc.
Laurie McCarney
Director of Corporate Communications
(905) 844-1200 ext: 305
lmccarney@saintjeancarbon.com
www.saintjeancarbon.com

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