Feb 3 2015
Saint Jean Carbon Inc. ("Saint Jean" or the "Company") is pleased to announce the TSX Venture Exchange has accepted for filing documentation pursuant to a Mining Claims Purchase & Transfer Agreement dated March 11, 2014 (the "Agreement") between the Company and a Non-Arms Length Party (the "Vendor") whereby the Company has acquired certain mining claims in the Province of Quebec known as the Clot mining claims (the "Clot Property"), located approximately 150 km north-west of Montreal, from the Vendor.
In consideration, the Company will issue a total of 4,500,000 common shares ("Shares") at a deemed price of $0.05 per Share, of which 3,500,000 will be issued upon closing and $2,500 cash.
The Clot Property
The property is located in southern Québec, 10 kilometres north-west of Mont-Tremblant and approximately 150 km north-west of Montreal. The Clot Property is made up of 5 established claims and 3 claims under request for a total area of more than 297.4 hectares. The claims are located in highly metamorphosed rocks which host a geological contact between a granitic intrusive and marbles and quartzites, two metasedimentary units of the Grenville geological Province. This represents a favorable geological context, which is known to host graphite deposits. The Company therefore believes the site has good potential for graphite mineralization similar to historic mining operations that occurred in the area. For more information and history on the Clot property please see press releases dated January 9, 2014 and March 27, 2014.
About Saint Jean
Saint Jean is a publicly traded junior mining exploration company with a number of graphite mining claims on four 100% owned properties located in the province of Quebec in Canada. The four properties include the Walker property, a past producing mine, the Wallingford property, the St. Jovite property and East Miller. The Company also holds the Page graphite property in Ontario. The Company is led by a management team with in-depth experience in the graphite sector. For information on Saint Jean's other properties and the latest news please go to the website: www.saintjeancarbon.com.