OAKVILLE, ONTARIO--(Marketwired - Oct. 25, 2016) - Saint Jean Carbon Inc. ("Saint Jean" or the "Company") (TSX VENTURE:SJL), a carbon science company engaged in the exploration of natural graphite properties and related carbon products, is pleased to announce that the Company has engaged Georgi Doundarov to prepare the Preliminary Economic Assessment (PEA) for Saint Jean. The Company has completed engineering modeling and enough ground and material studies to allow for the preparation of the report. The report will cover; the economics of possibly mining multiple small pits on our properties for graphite, potentially processing that material to produce concentrate which would then be further processed to produce 99.99% graphite, without the use of harsh chemicals. Then, the further processing of that material to produce spherical-coated graphite for use in applications including lithium-ion batteries.
The PEA will be prepared by Georgi Doundarov M.Sc., P.Eng, PMP, CCP who has 22 years of metallurgical experience in studies, EPCM, commissioning of processing facilities, production ramp up, operations, and closure while acting for the owner and the consultant site. He is a QP under NI43-101 with 17 years experience in Project Management of mining projects, different in terms of commodities, types and stages of development. He is a certified Project Management Professional (PMP) and Certified Cost Professional (CCP). He has created from scratch Project Management Offices, set up PMI standards and best practices, structuring and optimizing of cost areas. He has also increased efficiency, prepared financial and cash flow analyses, short and long term planning, capital and operating costs estimates and optimizations. This includes environmental work, EIS preparation, working with the Government after submission, Rehab and Closure plans.
Paul Ogilvie, CEO, commented: "After all of our property work, lab work and modeling, it is great to get working on our PEA. The results will prepare us for our feasibility study in the future and help us to better understand our strengths and where more effort has to be placed. We expect to issue the results of the report within a couple of months."
About Saint Jean Carbon
Saint Jean is a publicly traded carbon science company, with interest in graphite mining claims in the province of Quebec in Canada. For the latest information on Saint Jean's properties and news please refer to the website: http://www.saintjeancarbon.com/
On behalf of the Board of Directors
Saint Jean Carbon Inc.
Paul Ogilvie, CEO and Director
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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".
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 Transaction, 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.
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.