St-Georges Platinum and Base Metals Ltd.
CNSX : SX
BERLIN : 85G

August 24, 2011 13:27 ET

St-Georges Platinum and Base Metals Ltd.: New Mineralized Zones Discovered on the Villebon Project

MONTREAL, QUEBEC--(Marketwire - Aug. 24, 2011) - St-Georges Platinum and Base Metals Ltd. (CNSX:SX)(BERLIN:85G) is pleased to provide new information on the second phase if its drilling program carried out on the Villebon property located 45 km southeast of Val d'Or in the Abitibi Greenstone Belt of Quebec.

Currently, ten (10) core holes have been completed, six of which are logged and one remaining hole is being drilled (Figure 1: http://media3.marketwire.com/docs/SX_Map_0824.pdf). The holes investigated the extension of Ni-Cu-mineralized peridotite sills/komatiite flows within the South and North zones. Preliminary results obtained from the DDH logs indicate that holes FV-11-01, 02, 04 and 05 intersected disseminated to massive pyrrhotite-chalcopyrite zone within altered (chloritized ± carbonatized) peridotites/komatiites at relatively shallow depths (17 to 70 m). The apparent thickness of the mineralized ultramafic rocks varies from 3 to 16 m.

Hole FV-11-06 cuts through decametric-thick (10-50 meters), massive, siliceous, brecciated and sheared andesite/rhyolite rocks that are chloritized, hematized and displays carbonatation in stockwork stringers. A section of 54 m (apparent thickness) contains semi-continuous pyrite/pyrrhotite in flattened pods or veinlets accompanied by very fine-grained disseminated pyrite ± chalcopyrite ± arsenopyrite (1-10%). The style of mineralization and alteration observed in the core is compatible with possible precious metal mineralization. Core analyses are underway and assay results will be released within six to ten weeks.

The main objective of the Phase II campaign is to test the mineralization present at the South Zone and explore its extension to the northeast toward the North Zone. The locations of the DDH holes are shown in Figure 1 (http://media3.marketwire.com/docs/SX_Map_0824.pdf).

Michel Boily, Ph.D, P.Geo, St-Georges vice-president exploration commented: "(…)We are encouraged by the current observations.(…)the completion of the new drilling campaign is allowing us to attain our main objectives of expanding the Copper-Nickel mineralization zone within the ultramafic rocks layers and we are discovering new potential precious metal mineralized zones associated with adjacent altered volcanic rocks.. We are eager and excited to receive more detailed analyses from the current drilling operation in order to better our understanding of its overall potential(…)."

About St-Georges

St-Georges is a junior Platinum, Palladium, Rhodium, Copper, Cobalt and Nickel explorer with projects in the Province of Quebec, Canada. Headquartered in Montreal, the Company's stock is listed on the CNSX under the symbol SX and on the Berlin Stock Exchange under the symbol 85G. It owns a 70% interest in the core portion of the Villebon property in Abitibi and 100% interest in the extensions of the property to the north and southeast, a 100% interest in eight North Shore properties that constitute the Manicouagan constellation and a 100% interest in the Isoukustouc group of properties on Quebec's North Shore near the deep-seaport town of Baie-Comeau. For additional information, please visit our website at www.stgeorgesplatinum.com.

Michel Boily,Ph.D,. P.Geo, St-Georges Vice-President Exploration is a qualified person under NI 43-101. Mr. Boily has reviewed and approved the technical content of this release.

Forward-looking Statement:

This document contains certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the corporation's control which may cause actual results, performance or achievements of the corporation to be materially different from the results, performance or expectation implied by these forward-looking statements.

The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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