SJL Saint Jean Carbon Inc

Saint Jean Carbon ("Saint Jean" or the "Company") (TSX VENTURE:SJL), a junior
mining company engaged in the development of Lump natural graphite properties
with significant deposits in Canada and Sri Lanka, was extremely encouraged
today by the recent announcement from Tesla Motors to build a new $5bn
lithium-ion battery (Li-ion battery) 'Giga Factory', which could potentially
increase natural graphite demand by up to 37% per year. The addition of a
state-of-the-art facility will improve all aspects of the electric vehicle
supply chain, and ultimately lead to lower costs and better battery products for
consumers. 


Paul Ogilvie CEO commented; "As a developer of low cost lump graphite and
products, Saint Jean believes it will be extremely well positioned to take
advantage of these new opportunities. Our team has worked in the graphite
industry for many years and is not surprised by this potential new demand. We
have worked with groups such as Quebec Hydro to understand battery technology;
we have mined, purified and refined graphite samples; and we developed spherical
shaped graphite specifically for lithium ion batteries. We are therefore very
encouraged by the news as we feel our low-cost extremely high quality lump
graphite; and our experience and product knowledge will help Saint Jean lead the
way with first mover advantage. We feel it's also important to keep in mind that
not all graphite can be used for high quality battery production. Each mine will
have to go through the multiyear learning curve required to make spherical
shaped and highly purified graphite. From there one must also make a cell and
then see how their graphite performs. Given that our team has already done much
of this work this is where I think we can demonstrate a significant advantage
over our future competition. In short we have the knowledge and the quality".


The construction of the new facility also sends a strong signal to the graphite
sector that there will be continued and growing demand for its products. As
Tesla announced, its new factory will produce enough lithium-ion batteries by
2020 to service 500,000 cars from the now 35,000 unit production. This facility
will be a key supplier given that industry reviews and reports predict a
continued increase in the sale of all forms of battery powered vehicles
including hybrid electric vehicles (HEV), electric vehicles (EV), and plug-in
hybrid electric vehicles (PHEV). The global annual vehicle production in 2012
was approximately 81.8 million units. According to IHS Automotive,
industry-forecasting experts, this annual figure is expected to increase by
approximately 3 percent every year to 2020. 


Within that total all forms of battery powered vehicles are expected to grow
dramatically. Figures for the increase in the number of these vehicles range
from lows of 5% per year to in excess of 10%. By 2020 this would put upwards of
5 million battery-powered vehicles on roads around the world. The amount of
graphite required to meet this new demand varies based on the type of vehicle
and its battery pack but it's worth noting that the amount of graphite in a
rechargeable cell is approximately 16 more than the amount of lithium. As a
result data on cars such as Tesla's 18650 and Nissan's Leaf raises the
possibility that an additional 150,000 to 200,000 tons of graphite per year
could be required by 2020. The Nissan vehicle for example will require
approximately Li-I cells, while the Tesla will house as many as 7,000. Based on
available battery data, this suggests a graphite requirement of anywhere between
90 to 300 kilograms per car based on multiple reports and Saint Jean's own
internal assessments. 


The announcement by Tesla highlights the growing importance of the graphite
sector as countries around the world look for ways to reduce dependence on
fossil fuels and the effects of global warming. Current predictions for battery
production, electric vehicles and graphite uptake assume some measure of
stability in the transition from internal combustion engines (ICE) to
alternative power sources such as batteries and fuel cells. Changes in that
incremental process such as the spike in oil prices in 2008 would likely
accelerate the adoption of alternate power sources and further drive demand for
batteries and natural graphite. In view of this Saint Jean will continue taking
all steps necessary to meet current and projected demand for its lump graphite
products. The Company observes that until a feasibility study has been
completed, there is no certainty the proposed operations will be economically
viable. The Company will also continue to build out its relationships globally
to assure that our sales team, engineering staff, or associates are in the right
position to take advantage of all growing opportunities in the graphite industry
- especially for high tech applications like lithium ion batteries.


About Saint Jean Carbon

Saint Jean is a publicly traded junior mining exploration company with a number
of mining claims. The Walker property consists of 4 claims covering the past
mine and 11 claims covering interesting geological context for more graphite
mineralization in the region around the deposit, which is located 40 km
north-east of Ottawa. The Mount Copeland molybdenum deposit lies within
metamorphic rocks flanking the southern margin of Frenchman Cap Dome, 32
kilometers northwest of Revelstoke, British Columbia (the "Mount Copeland
Property"). The Fort-Eden copper property is comprised of 18 mineral tenures
that total 2,828.6 hectares in area. The mineral claims are located 100 km west
of Fort St. James, BC (the "Fort Eden Property"). The Red Bird deposit is
comprised of three zones of molybdenum concentration referred to as the Main,
Southeast and Southwest zones within a property totaling 1,836 ha (4,400 acres)
and is located 133 km southwest of Burns Lake and 105 km north of Bella Coola
(the "Red Bird Property"). 


The Company plans to divest (the "Divestitures") each of the Mount Copeland
Property, the Fort Eden Property and the Red Bird Property through a sale or
joint venture, thus allowing it to focus on building a graphite mining company.
Additionally, Saint Jean expects to acquire the new lump graphite property in
Quebec (the "Clot Acquisition") and the previously announced new lump graphite
properties in Sri Lanka from Han Tal Graphite (Pvt) Ltd. (the "Han Acquisition"
and together with the Wallingford, Jovite and Clot Acquisitions, the
"Acquisitions") in furtherance of its new focus.


Neither 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.


FORWARD LOOKING STATEMENTS:  This news release contains forward-looking
statements, within the meaning of applicable securities legislation, concerning
Saint Jean Carbon'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 closing of and the intended use of proceeds from the
Offering, the Company's ability to complete Acquisitions, and 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. The forward-looking statements in this news
release assume, inter alia, the Use of Proceeds. 


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 ability to complete the Offering, the proposed merger and the future
results of the merged company which could cause actual results to differ
materially from those expressed in these forward-looking statements including
negotiation failure or delay, 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 Carbon assumes no
obligation to update or revise them to reflect new events or circumstances,
except as may be required under applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Saint Jean Carbon Inc.
Laurie McCarney
Director of Corporate Communications
(905) 844-1200 ext: 305
lmccarney@saintjeancarbon.com
www.saintjeancarbon.com

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