Saint Jean Carbon Announces $300,000 Private Placement

Saint Jean Carbon Inc. announced that it is completing a non-brokered private placement financing of up to 6,000,000 units at a price of $0.05 per unit to raise approximately $300,000. Each Unit consists of one (1) common share in the capital of the Corporation issued and one (1) warrant ("Warrant"). Each Warrant will entitle the holder to purchase one common Share of the Corporation at an exercise price of $0.05 for a period of twenty four (24) months from the closing of the Offering. Saint Jean anticipates that Insiders of the Company will subscribe for over 25% of the placement.

The Corporation intends to use the proceeds of the private placement as working capital to fund the continued development of the Corporation's business.

Saint Jean is a publicly traded junior mining exploration company with a number of mining claims which includes the following properties across Canada:

• The Walker property which is located 40 km north-east of Ottawa 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.
• 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 also announced 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 properties in Quebec (the "Wallingford and St. Jovite Acquisitions") 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 and Jovite Acquisitions, the "Acquisitions") in furtherance of its new focus.

For more information:

Laurie McCarney Director of Corporate Communications Email: lmccarney@saintjeancarbon.com Telephone: (905) 844-1200 ext: 305