Saint Jean Carbon Announces $300,000 Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.


Saint Jean Carbon Inc ("Saint Jean" or the "Company") (TSX VENTURE:SJL) is
pleased to announce that it intends to complete a non-brokered private placement
financing of up to 6,000,000 units (the "Units") at a price of $0.05 per Unit
for gross proceeds of approximately $300,000 (the "Offering"). Each Unit will
consist of one (1) common share in the capital of the Corporation issued and one
(1) warrant ("Warrant"). Each Warrant will entitle the holder to purchase one
common Share of the Corporation at an exercise price of $0.05 for a period of
twenty four (24) months from the closing of the Offering. Saint Jean anticipates
that Insiders of the Company will subscribe for over 25% of the placement.


The Corporation intends to use the proceeds of the private placement as working
capital to fund the continued development of the Corporation's business. 


About Saint Jean Carbon Inc.

Saint Jean is a publicly traded junior mining exploration company with a number
of mining claims. The Walker property which is located 40 km north-east of
Ottawa 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. 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 properties in Quebec (the "Wallingford and St. Jovite
Acquisitions") 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 and Jovite 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'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 Corporation's intention to complete the Offering, use the
proceeds of the Offering as working capital to fund the continued development of
the Corporation's business, the Corporation's intention to complete an agreement
with Han Tal, the Divestitures and the intention to complete the Wallingford and
Jovite Acquisitions.


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 Offering,
the proposed merger with Plumbago, the Wallingford and Jovite Acquisitions, and
the Divestitures, including regulatory and shareholder approvals, if necessary,
will be met.


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 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
Saint Jean Carbon, Inc. (TSXV:TCR)
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