Saint Jean Carbon Signs Term Sheet for the Acquisition of the Miller East Lump Graphite Property

OAKVILLE, ONTARIO--(Marketwired - Nov. 26, 2014) - 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 arm's length party to acquire 100% interest in 9 mineral claims, located in Quebec, Canada called the Miller East Property (the "Miller East" or the "Property"), adjacent to the east of Canada Carbon Inc. (TSX-V: CCB) ("CCB"). The historic Miller Graphite Project is a hydrothermal vein type graphite occurrence, and also lies within the vicinity of Caribou King Resources Ltd. (TSX-V: CKR) ("CKR"). The Company intends to sign a definitive binding agreement with respect to the Miller East shortly.

Steven Lauzier, PGeo, CKR's Calumet project geologist commented on September 18, 2013: "The graphitic marble block discovered at Calumet shows the high potential of the area and also reveals that more graphite mineralization can be present in the immediate area, probably due to a similar mineralization process as the Miller graphite hydrothermal system. The sulphidic block is also an indicator that hydrothermal processes may have happened in the area." (CKR press release September 18, 2013)

CCB is exploring its historic Miller Graphite Mine, and recently announced on September 12, 2013: "Of greatest significance is a large anomaly that extends from the previously announced (VN1) graphite vein discovery for 285 metres to the southeast and 15 m to the northwest. This large anomaly, located within the Eastern claim block, is elongated toward the east and also correlates with a magnetic gradient". CCB disclosed on September 12, 2013 that its VTEM geophysical anomaly "...is elongated toward the east and also correlates with a magnetic gradient."

The CEO of SJL, Mr. Paul Ogilvie stated: "we believe the Miller East property is the continuation of the Miller property held by Canada Carbon and that it falls within the same geological and regional areas as our Walker, Wallingford, St. Jovite and Clot lump graphite properties. Accordingly it is our plan to determine whether the anomalies that CCB reports do extend into our new claims. The area is historically rich in lump graphite, and we look forward to getting our feet on the ground as soon as we can with a preliminary geological exploration program.