Standard Graphite Options Beidelmann-Lyall Graphite Property, in Ontario
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/26/12 -- Standard Graphite Corporation (TSX VENTURE: SGH) (the "Company"), is pleased to announce that it has signed a Mineral Property Option Agreement (the "Option Agreement") with Terra Firma Resources Inc. ("Terra Firma") (TSX VENTURE: TFR) pursuant to which Terra Firma has been granted an option (the "Option") to earn 100%-interest in the Beidelmann-Lyall Graphite Property located in Ontario.
Beidelmann-Lyall Property:
The Beidelmann-Lyall Property (the "Property") consists of two claim block totaling approximately 625 hectares located approximately 23 kilometers west of the past producing Black Donald Mine. The Black Donald Graphite Mine was one of the largest and richest graphite deposits in North America. It had reported historic ore grades of up to 80% Cg. During the last 10 years of mine life the average reported grade was 25-30% Cg T94% of the total value of Ontario graphite production came from the Black Donald Mine. The Beidelmann-Lyall property is accessible via paved and logging roads.
The Option Agreement:
Pursuant to the terms of the Option Agreement, Terra Firma may acquire a 100%-interest in the Property by making the following cash payments on or before the dates indicated below:
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Cash Shares
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On signing $10,000 0
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On exchange acceptance $25,000 400,000
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Six months from acceptance 350,000
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Twelve months from acceptance 250,000
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Twenty four months from acceptance 250,000
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Antoine Fournier P.Geo., manages Standard's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.
About Standard Graphite
Standard Graphite Corp. is focused exclusively on the exploration and development of a large portfolio of flake graphite properties in Canada. The company is rapidly positioning itself as North America's premier pure-play graphite exploration company and it controls 100% interest in 13 highly prospective graphite properties within known graphite districts in both Quebec and Ontario. An aggressive 2012 exploration strategy has commenced and will be implemented by a geologic team with the pedigree of a previous world-class graphite discovery.
The Company also advises 350,000 stock options at a price of $0.44 per common share in accordance with the policies of the TSX-V (the "Options"), have been granted to various Directors, Officers and Consultants of the Company.
ON BEHALF OF THE BOARD
Chris Bogart, President & CEO
Cautionary Statement:
The foregoing information may contain forward-looking statements relating to the future performance of Standard Graphite Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Standard Graphite Corp.'s filings with the appropriate securities commissions.
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.
Contacts:
Standard Graphite Corporation
Chris Bogart
President & CEO
(604) 683-2509
(604) 683-2506 (FAX)
info@standardgraphite.com
www.standardgraphite.com
G2 Consultants Corp.
Investor Inquiries
(604) 742-9990 or NA Toll-Free: (866) 742-9990
info@g2consultants.com