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

October 05, 2011 10:35 ET

St-Georges Samples Shows Promising Nickel Grades at Julie

MONTREAL, QUEBEC--(Marketwire - Oct. 5, 2011) - St-Georges Platinum and Base Metals Ltd. (CNSX:SX)(BERLIN:85G) is pleased to announce initial results from its Quebec North Shore Fall 2011 ground campaign.

A total of 21.53 kg were taken from the previously identified 1.5 km south-west to north-east mineralized trend on the Julie Property. See Table 1 below for results:

SAMPLE Cu (wt.%) Ni (wt.%) Fe (wt.%)
2219 0.32 1.52 19.20
2220 0.32 2.03 21.10
2221 0.36 1.85 20.10
2222 0.34 1.41 19.95
2285 0.37 1.83 20.00
2286 0.32 1.71 19.15
2287 0.35 1.82 20.20
2288 0.35 2.09 22.00
2290 0.36 1.85 20.10
2291 0.26 1.80 19.60
2292 0.27 1.75 19.45
2293 0.31 1.63 18.95
2294 0.36 1.83 20.70
2295 0.36 1.85 19.95
Average 0.33 1.78 20.03

The initial Ni-Cu mineralization is found in a noritic lens oriented 070° (2 x 25 m) in contact with cataclastic graphitic paragneiss (Clark et al., 2003). The observed sulphide mineralization consists of pyrrhotite (15%), pentlandite (4%) and chalcopyrite (2%). The sulphides are disseminated or define elongated stringers within the hornblende norite. The surrounding lithologies are made of gabbro, leucotroctolite, quartzofeldspathic gneiss, amphibolite and ultramafic rocks. A collection of fourteen (14) grab samples from and nearby the Julie showing yielded average assay values of 0.33 wt. % Cu and 1.78 wt. % Ni. Recent prospection on the Julie property has revealed four other mineralized sites which are associated with gabbroic/ultramafic intrusives rocks near the contact with metasedimentary rocks. These new sites extend the possible Cu-Ni mineralized zones to a 1.5 km NE-oriented corridor (Figure 1).

To view the Figure 1, please click on the following link: http://media3.marketwire.com/docs/stgeorges_big.jpg

Isoukustouc Ground Campaign Updates

The Company has been conducting a preliminary mapping campaign on the entire Isoukustouc Property. To this date, seven (7) new mineralized targets were identified and over one hundred new outcrop sites were mapped.

North Shore Drilling Campaign

The Company has commissioned Landdrill International to conduct its fall 2011 drilling campaign. The exploration team of St-Georges has identified over 40 targets on the Julie and Isoukustouc properties and will conduct an exploration drilling campaign totalling 8,800 meters. The drilling permits have been already filed with the Quebec Ministry of Natural Resources and should be received in the coming days. Drilling is planned to start by late October to early November.

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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