SGH

Standard Graphite Corp. (TSX VENTURE:SGH) (the "Company"), is pleased to
announce that it has now received TSX Venture Exchange approval for the option
agreement to acquire the Mousseau East Deposit located some 40 kilometres
northeast of the town of Mont-Laurier in northwestern Quebec, as originally
disclosed in the Company's News Release dated April 24, 2012. The new property
is located within 50 kilometres of Timcal Canada Inc.'s producing Lac-des-Iles
Graphite Mine, which is currently the larger of the two producing mines in North
America. Standard Graphite now intends to conduct strategic exploration with the
aim of building a NI 43-101 compliant resource by upgrading the historical
non-compliant resource on the property.


The Mousseau East Deposit was discovered in 1983 following the emplacement of a
new road in the area north of Ste-Veronique, Quebec. Systematic exploration was
carried out by Graphicor between 1989 and 1993 with property-scale
electromagnetic geophysical surveys along cut grids, and exploration and
definition drilling leading to resource estimates. Drilling completed between
1989 and 1992 consisted of three successive campaigns and some 62 diamond drill
holes, totaling 4996 metres, allowing for a resource calculation to be
conducted. The possibility of initiating a mining operation was evaluated using
only a 40-metre-deep open-pit on the main resource of the Mousseau East Deposit.


This preliminary evaluation of the mining potential was based on resource
estimates calculated internally in 1992 by Graphicor Resources for the levels
comprised between surface and -40 metres. This estimate was further verified and
validated independently by Derry, Michener, Booth and Wahl (DMB&W), now based in
Vancouver. The historical non-NI 43-101 compliant estimates quoted are presented
in the table below.




Mousseau East Deposit                                                       
Historical Resource Estimates                                               
                                                                            
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                                       Category                             
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                  Proven               Probable              Possible       
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                           Grade                 Grade                 Grade
               Tonnes     (% Cg)     Tonnes     (% Cg)     Tonnes     (% Cg)
----------------------------------------------------------------------------
Graphicor     598,480       8.29    219,450       8.13    288,760       7.85
----------------------------------------------------------------------------
DMB&W                               578,500       8.02    528,080       8.28
----------------------------------------------------------------------------



A qualified person has not completed the work necessary to verify the historical
estimates as mineral reserves or resource for purposes of NI 43-101. The Company
is not treating the historical mineral resource estimates as NI 43-101 defined
current resources or reserves. The historical estimates should not be relied
upon. This property will require considerable further evaluation, which
Standard's management and consultants intend to carry out in due course.


It must be emphasized that this resource only takes into consideration the
levels comprised between surface and -40 metres. The graphite horizon is
anticipated to continue below the -40m level as well as along strike. Some
further untested targets need to be explored; especially a widening of the
conductive zone located some 600 metres to the SE of the main Mousseau East
Deposit. The Company is planning due diligence work to begin soon on the
project, and a field exploration program will be implemented following a
complete assessment of the historical information. Due to the project having
been left dormant since 1992, the Company has begun to assess the drill
locations, cross sections, EM data, and proposed mine plan from previous
operators.


Please click the following link for an overview of the Mousseau East project:

http://www.standardgraphite.com/i/pdf/mousseau.pdf

Terms

The Terms of the Agreement have been amended from those disclosed in the
Company's April 24th press release to the following: Standard will acquire a
100% interest in the project by making aggregate cash payments of $375,000 and
issuing shares with an aggregate value of $400,000 (based on the ten day Volume
Weighted Average Price subject to a minimum price per share of $0.30) prior to
the Second Anniversary to the Vendor as follows:


(i) $25,000 in cash on signing Definitive Agreement; (ii) $50,000 in cash and
$100,000 in common shares within 48 hours of TSX Venture Exchange (TSXV)
approval; (iii) an additional $100,000 in cash and $100,000 in common shares on
or before the first anniversary of TSXV approval; and (iv) an additional
$200,000 in cash and $200,000 in common shares on or before the second
anniversary of TSXV approval. In addition, the Company has agreed to a $100,000
work commitment to be completed on or before the first anniversary.


Bonuses of either $500,000 or $750,000 in either cash or shares are payable by
Standard to the Vendor upon filing of a technical report within one year of TSXV
approval, which discloses Measured & Indicated resources on the property of
5,000,000 and 8,000,000 tonnes respectively with a minimum grade of 6% Cg.


The Vendor will retain a 1% Net Smelter Royalty ("NSR") on the property that can
be repurchased by Standard for $500,000.


Antoine Fournier, P.Geo., manages Standard's exploration and development
programs and is the Qualified Person as defined by NI 43-101. He supervised the
preparation of the technical information in this release.


About Standard Graphite

Standard Graphite Corp. is focused exclusively on the exploration and
development of a large portfolio of flake graphite properties in Canada. The
company is rapidly positioning itself as North America's premier pure-play
graphite exploration company, and it controls 100% interest in 13 highly
prospective graphite properties within known graphite districts in both Quebec
and Ontario. An aggressive 2012 exploration strategy has commenced and is being
implemented by a geologic team with the pedigree of a previous world-class
graphite discovery.


ON BEHALF OF THE BOARD

Chris Bogart, President & CEO

Cautionary Statement:

The foregoing information may contain forward-looking statements or
forward-looking information relating to the future performance of Standard
Graphite Corp. These forward-looking statements or information relate to, among
other things: the Company's business strategy, the accuracy of mineral reserve
and resource estimates, the timing of completion of exploration programs and
preparation of technical reports. Forward-looking statements, specifically those
concerned with future performance are subject to certain risks and
uncertainties, and actual results may differ materially. These risks and
uncertainties include, among others, the Company's cash flow and availability of
alternate sources of capital; operating or technical difficulties in connection
with mining or development activities; risks and hazards associated with the
business of mineral exploration, development and mining (including environmental
hazards, industrial accidents, unusual or unexpected formations, pressures,
cave-ins and flooding); reliability of historical exploration information and
estimate; risks relating to the credit worthiness or financial condition of
suppliers and other parties with whom the Company does business; inability to
obtain adequate insurance to cover risks and hazards; the presence of laws and
regulations that may impose restrictions on mining or development; relationships
with and claims by local communities and indigenous populations; retention of
key personnel; availability and increasing costs associated with mining and
exploration inputs and labour; the speculative nature of mineral exploration and
development, including the risks of obtaining necessary licenses, permits and
approvals from government authorities as well as those other factors detailed
from time to time in Standard Graphite Corp.'s filings with the appropriate
securities commissions. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements, except as required by
applicable laws.

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