MONTREAL, QUEBEC — (Marketwire) — 03/13/12 — St-Georges Platinum and Base Metals Ltd. (CNSX: SX)(OTCQX: SXOOF)(BSE: 85G) is pleased to announce the signing of a Memorandum of Understanding with Focus Metals Inc. (TSX VENTURE: FMS)(OTCQX: FCSMF)(FRANKFURT: FKC) with regard to the graphite resource viability of two of St-Georges- Quebec properties.
Under the terms of the three-month agreement, Focus Metals will research and evaluate the potential of St-Georges- Tetepisca graphite property and assist St-Georges geological staff in evaluating the potential of multiple graphite occurrences found on the southeast extension of the company-s Julie nickel-copper project.
Both properties are located on the Quebec North Shore. The non-binding arrangement gives Focus Metals a 120-day right of first refusal for the establishment of a joint-venture relationship with St-George for the future development of those properties.
Consequently, St-Georges geologists will acquire access to Focus Metals- geological team and their expertise gleaned from early-stage development of Focus Metals- Lac Knife, Quebec graphite deposit which, at 16%, remains the highest grade graphite deposit in the world.
„We are very pleased to have been invited to assist St-Georges in their initial geological determinations at Tetepisca and Southeast Julie,“ said Focus President and CEO Gary Economo. „Our accumulation of both geological and business experience at Lac Knife provides a template for evaluating pre-development.“
St-Georges President and CEO Frank Dumas said: „Focus Metals is recognized in the mining development community as the -go to- source for graphite. We-re pleased to have teamed with Focus not only for their graphite-related geological experience, but their early-stage business development experience.“
„The market is primed for new entrants to the graphite market, especially in Quebec. We expect we-ll be in a better position to determine our course once the evaluation is completed,“ Mr. Dumas said.
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, the OTCQX under the Symbol SXOOF and the Berlin Stock Exchange under the symbol 85G. It owns the Villebon Copper-Nickel and PGEs property in Abitibi and a 100% interest in the Julie and Isoukustouc Nickel-Copper-PGEs projects on the Quebec North Shore. The company also owns a 100% interest in ten North Shore properties that constitute the Manicouagan constellation which are explored for Nickel, Copper, Platinum, Palladium and Graphite and 50% equity interest in 6 properties explored for graphite with Amseco Exploration, all the latter being on Quebec-s North Shore near the deep-seaport town of Baie-Comeau.
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About Focus Metals
Focus Metals Inc. is an emerging mid-tier junior mining company, a technology solutions supplier and a business innovator. It is the owner of the highest-grade (16%) technology graphite resource in the world. The company-s goal is to assume a dominant industry leadership position by becoming the lowest-cost producer of technology-grade graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Metals is invested in the development of graphene applications and patents through Grafoid Inc.
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.
Contacts: Mr. Frank Dumas President and CEO St-Georges Platinum and Base Metals Ltd. 514-295-9878
Mr. Gary Economo President and CEO Focus Metals Inc. 613-691-1091
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