[Marinir] {Disarmed} Standard Graphite Acquires Historical Resource at Mousseau East Deposit

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Standard Graphite Acquires Historical Resource at Mousseau East Deposit 

Standard Graphite Corp. (TSX-V: SGH 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=SGH&region=C&lookup=symbol&snapshot=default 

) is proud to announce that it has successfully signed a Definitive 
Agreement for the acquisition of the Mousseau East Deposit located some 
40 kilometres northeast of the town of Mont-Laurier in northwestern 
Quebec. The new property is located within 50 kilometres of Timcal 
Canada Inc.’s producing Lac-des-Iles Graphite Mine and currently the 
larger of the two producing mines in North America. With this new 
acquisition, Standard Graphite is now in a position to build a NI 43-101 
resource by upgrading the historical non-compliant resource and with 
strategic exploration of the deposit. 

The Mousseau East Deposit was discovered in 1983 following the 
emplacement of a new road in the area north of Ste-Veronique, Quebec. 
Systematic exploration was carried out by Graphicor between 1989 and 
1993 with property-scale electromagnetic geophysical surveys along cut 
grids, and exploration and definition drilling leading to resource 
estimates. The Max-Min II survey (EM), which was conducted on lines 
spaced 100 metres apart, identified a main conductor trending NW-SE and 
continuous for a strike length of 1.2 kilometres displaying maximum 
widths of up to 50 metres. It is flanked on its western side by a 
slightly narrower conductor. Drilling completed between 1989 and 1992 
consisted of three successive campaigns and some 62 diamond drill holes, 
totaling 4996 metres, allowing for a resource calculation to be 
conducted. The possibility of initiating a mining operation was 
evaluated using only a 40-metre-deep open-pit on the main resource of 
the Mousseau East Deposit. 

This preliminary evaluation of the mining potential was based on 
resource estimates calculated internally in 1992 by Graphicor Resources 
for the levels comprised between surface and -40 metres. This estimate 
was further verified and validated independently by Derry, Michener, 
Booth and Wahl (DMB&W), now based in Vancouver. The historical non-NI 
43-101 compliant estimates quoted are presented in the table below. 

Mousseau East Deposit 

Historical Resource Estimates 

  Proven Probable Possible 

  Tonnes Grade (% Cg) Tonnes Grade (% Cg) Tonnes Grade (% Cg) 

Graphicor 598,480 8.29 219,450 8.13 288,760 7.85 

DMB&W     578,500 8.02 528,080 8.28 

Standard has not completed the work necessary to verify the 
classification of the mineral resource estimates. The Company is not 
treating the mineral resource estimates as NI 43-101 defined resources 
verified by a qualified person. The historical estimates should not be 
relied upon. This property will require considerable further evaluation, 
which Standard’s management and consultants intend to carry out in due 
course. 

The property is underlain by Grenvillian geology, namely metasediments 
of the Central Metasedimentary Belt consisting of calcsilicates, 
quartzites, and biotite gneisses having been subjected to amphibolite 
grade metamorphism. The graphite is hosted in the calcsilicate levels 
and occurs disseminated or in nodules where it is found with diopside 
and other pyroxenes. 

It must be emphasized that this resource only takes into consideration 
the levels comprised between surface and -40 metres. The graphite 
horizon is known to continue below the -40m level as well as along 
strike. Some further untested targets need to be explored, especially a 
widening of the conductive zone located some 600 metres to the SE of the 
main Mousseau East Deposit. The company is planning due diligence work 
to begin shortly on the project, and a field exploration program will be 
implemented following a complete assessment of the historical 
information. Due to the project having been left dormant since 1992, the 
Company needs to assess the drill locations, cross sections, EM data, 
and proposed mine plan from previous operators. 

Chris Bogart, President and CEO comments: "We are extremely pleased, 
having achieved this important milestone. This most recent acquisition 
advances Standard into a different category and brings the Company one 
step closer to production". Benoît Gascon, Senior Vice-President, 
Business Development, further adds: "Given the amount of work done on it 
by Graphicor, a then graphite producer, and my knowledge of the market 
and the industry, I have a high level of confidence in its potential to 
provide graphite products suitable to meet the current and future 
requirements of the market." 

Please click the following link for an overview of the Mousseau East 
project: 

http://www.standardgraphite.com/i/pdf/mousseau.pdf 

http://www.standardgraphite.com/i/pdf/mousseau.pdf 

Terms 

Under the terms of the agreement, Standard will acquire a 100% interest 
in the project by making aggregate payments of $375,000 and issuing 
shares with an aggregate value of $400,000 (based on the ten day volume 
weighted average price as of issuance) prior to the Second Anniversary 
to the Vendor as follows: (i) $25,000 in cash on signing Definitive 
Agreement (ii) $50,000 in cash and $100,000 in common shares within 48 
hours of TSX Exchange approval (iii) an additional $100,000 in cash and 
$100,000 in common shares on or before the first anniversary of TSXV 
approval (iv) an additional $200,000 in cash and $200,000 in common 
shares on or before the second anniversary of TSXV approval. 

Bonuses of either $500,000 or $750,000 in either cash or shares are 
payable by Standard to the Vendor upon filing of a technical report 
within one year of TSXV approval which discloses Measure & Indicated 
resources on the property of 5,000,000 and 8,000,000 tonnes respectively 
with a minimum grade of 6% Cg. 

The Vendor will retain a 1% Net Smelter Royalty ("NSR") on the property 
that can be repurchased by Standard for CDN $500,000. The agreement 
remains subject to acceptance by the TSXV. 

Antoine Fournier, P.Geo., manages Standard's exploration and development 
programs and is the Qualified Person as defined by NI 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 
14 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. 

ON BEHALF OF THE BOARD 

"Chris Bogart" 

President & CEO 

For further information, contact: 

Corporate Information 

Standard Graphite Corp. 

Chris Bogart 

President & CEO 

Tel: (604) 683-2509 Fax: (604) 683-2506 

info at standardgraphite.com 

www.standardgraphite.com 

http://www.standardgraphite.com 

Investor Inquiries 

G2 Consultants Corp. 

NA Toll-Free: (866) 742-9990 

Tel: (604) 742-9990 

info at g2consultants.com 

Cautionary Statement: 

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. 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. 

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