Saint Jean Carbon Expands Graphite Market Opportunities Following Analytical Product Testing

OAKVILLE, ONTARIO--(Marketwired - May 22, 2014) - Saint Jean Carbon ("Saint Jean" or the "Company") (TSX VENTURE:SJL) is pleased to announce the results of an array of detailed test procedures done by Evans Analytical Group (EAG) of Liverpool, New York. Over a period of three weeks EAG carried out the tests on purified graphite concentrate from Saint Jean Carbon's 100% owned Walker hydrothermal lump/vein graphite property.

The four tests conducted by EAG represented standard industry practice in efforts to create a comprehensive profile of graphite deposits from a chemical and crystalline structure perspective. This information is critical when it comes to product development for customers. Advanced product knowledge also reduces the development timeline for bringing products to market faster. In that regard the full suite of tests provided Saint Jean with the following summary points about the Walker material.

Summary Results

1. The morphology, crystallinity, and structural makeup very closely resemble the best Sri Lankan vein graphite. Therefore its field of applicability is as broad as it is for any other kind of high purity vein graphites.
2. The constituent analysis confirmed that the Walker Graphite is as suitable as flake graphite in a wide variety of side by side product applications. This includes all major market segments such as steelmaking, auto parts, paints, and industrial products such as gaskets, but also in much smaller specialized segments such as a neutron moderator in nuclear reactors.
3. The crystallite structure shows a hexagonal and rhombohedral graphene layer structure that is consistent with good quality graphite.
4. According to the Raman spectra results the ID/IG ratio of ~0.1 confirms that by published industry standards the Walker graphite is classified as "High purity, fine grained graphite".

The Company notes that until such time as a feasibility study has been completed there is no certainty it will be able to supply graphite to the markets discussed, nor that the project will be economically viable. Paul Ogilvie, CEO of Saint Jean Carbon commented on the results by noting: "We are very, very pleased with the work done by EAG, and the results we have achieved in the test program. This moves our Quebec-based Walker vein graphite property closer to bringing the project to market. We also believe it helps all of our surrounding properties in Quebec become increasingly well positioned both from a proximity-to-market perspective as well as a source of high-quality versatile vein graphite". On the following pages the Company provides full details of the tests, as well as commentary on issues related to graphite morphology designed to help shareholders and investors better understand the results.

Test Background

Each of the tests and a brief description are as follows:

1. Glow Discharge Mass Spectrometer Testing - GDMS is designed to provide a cross section of the graphite morphology by identifying its constituent elements by parts per million (ppm).
2. Raman Spectroscopy - provides important information on the structural characterization of graphitic materials. This includes details on defects, stacking of the graphene layers, and the finite sizes of crystallites parallel and perpendicular to the hexagonal axis.
3. X-Ray Diffraction (XRD) Testing - provides information on crystallite size, and crystallinity or crystal structure.
4. Scanning Electron Microscope (SEM) Imaging - provides high resolution images that illustrate size, shape, distribution and orientation of graphitic flakes.

The Walker Property graphite tested was a composite grab sample that was collected from the site in June 2013 by the Company's geologist Isabelle Robillard, P. Geo, QC. The material came from remnants of graphite veins that were formerly mined in shallow exploitation pits, in the west portion of the Property. As such, this material is representative of graphite vein-type occurrences that are found at Walker. The samples were subsequently the subject of upgrade testing done at Process Research Ortech (PRO) in Mississauga, Ontario and lab analysis done at Activation Laboratories Inc. (Actlabs) in Ancaster, Ontario. The results of this upgrade work were reported in the Company's press release dated October 15, 2013 in which it achieved purity levels in excess of 99% after a series of non-optimized flotation and purification processes that adjusted reagent concentrations and retention times. Approximately one kilogram of the original test material was then identified "T-1R" and shipped to EAG for testing. In correspondence with EAG, the Company outlined product-specific goals were designed to further its knowledge base on its potential graphite resources. The key test objectives were as follows:

1. Provide broader confirmation of the lump/vein nature of the graphite.
2. Provide an improved understanding of the morphology and crystalline structure of the graphite. This information is important for product design as various product applications have different thresholds for different contaminants, such as aluminum, boron, calcium, iron, or manganese. The data will also make up product spec sheets that will help define the graphite profile for prospective customers.
3. Feedback on the suitability of Saint Jean's graphite for various product applications including fundamental market segments such as steelmaking, auto parts, and industrial items such as gaskets and lubricants. In addition, data to support the material's suitability for high-purity applications such as lithium-ion batteries, and smaller segments such as nuclear and future graphene applications.
4. Examine the type and nature of intercalation of non-graphite materials and any information that would help the Company further understand the degree of processing that may be required to purify the concentrate.

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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 to the Company's ability to 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. 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 actual results to differ materially from those expressed in these forward-looking statements including 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.