SJL Saint Jean Carbon Inc

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UNITED STATES


Saint Jean Carbon Inc. ("Saint Jean" or the "Company") (TSX VENTURE:SJL) with
reference to prior press releases dated October 9, 2013 and October 17, 2013,
Saint Jean is pleased to announce that it has amended the terms of an arm's
length definitive agreement with Han Tal Holdings (Private) Limited (herein
after called "Han") a Sri Lankan based holding company, to acquire 113 mining
grids with 56 historical mines and exclusive exploration licenses to explore and
develop its wholly owned 113km2 lump graphite claims mining claims in south-west
Sri Lanka, many of which were originally artisanal mining operations in the
1920's and 1930's. The mining grids, mines and exploration licenses are held
through a wholly-owned subsidiary of Han which will be acquired, in whole, by
Saint Jean.


The consideration to be paid by Saint Jean to Han has been amended as follows:



i.  the Company shall pay $30,000 CDN to Han upon closing together with the
    issuance of 5,000,000 common shares of Saint Jean to Han. Such common
    shares are to be issued at $0.05 per share for an aggregate deemed value
    of $250,000; 
    
ii. upon completion and delivery of NI 43-101 Report relating to the mining
    grids which is acceptable to the TSX Venture Exchange on or before
    October 31, 2014, Saint Jean shall pay Han $270,000 CDN; and 
    
iii.upon commencement of full production, meaning that mining grids will
    have operated for 3 continuous months at a production rate of three
    hundred metric tons per vein/mine per month, the Company will make a
    final payment to Han consisting of cash in the amount of $750,000 CDN
    and 7,500,000 shares of Saint Jean. Such common shares are to be issued
    at $0.05 per share for an aggregate deemed value of $375,000. 



Subject to certain customary conditions including receipt of all regulatory
approvals, closing is anticipated to occur on or before July 15, 2014. Both
companies are well into their respective due diligence processes including site
visits, operational assessments, and geophysical test work on representative
samples from each of the new claims. No finder's fee is payable with respect to
this transaction. 


All securities issued as part of the transaction are subject to a four month and
one day hold period.


About Saint Jean 

Saint Jean is a publicly traded junior mining exploration company with a number
of graphite mining claims on three 100% owned properties of the Company located
in the province of Quebec in Canada. The three properties include the Walker
property, a past producing mine, the Wallingford property and the St. Jovite
property. The Company is led by a management team with in-depth experience in
the graphite sector. For information on Saint Jean's other 4 properties and the
latest news please go to the website www.saintjeancarbon.com.


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'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 Company's intention to complete the acquisition from Han (the
"Han Acquisition") including the full payment of the consideration contemplated
in respect thereof, the volume of production that may be achieved from the
mines, and the preparation of a 43-101 report.


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, that the conditions for completion of the Han
Acquisition, including regulatory approval, will be met, that Saint Jean will be
able to successfully re-activate the mines in Sri Lanka, and that there are no
other material obstacles to pursuing the re-activation strategy or achieving the
projected production rates. 


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 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 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

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