Vancouver, BC - September 16, 2015 - Standard Graphite Corp. (TSXV: SGH) ("Standard") or (the "Company") announces the Company has decided that it will not proceed with its option on the Mousseau East property. Standard Graphite has received firm and consistent regional opposition to the development of the Mousseau Project, including the municipality of Rivière-Rouge. As a result of the inability to access the required permits due to this opposition and continue the development of the project, Standard Graphite has elected not fulfill its contractual obligations for the acquisition of Mousseau East. Pursuant to the terms of the acquisition agreement, Mousseau East ownership has returned vendor and Standard will have no further obligations or liabilities with respect to the Mousseau East project. Standard believes that the political and geological risk associated with the continuation of the Mousseau East property is not in the best interests of its shareholders.
Standard Graphite will now focus its efforts on the Diego gold property (see NR dated November 20, 2014). The Diego property was acquired as a part of the corporate strategy to diversify risk from being a single commodity explorer by acquiring gold assets in prolific gold regions.
About Standard Graphite
Standard Graphite Corp is focused 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 through the development of the historic Mousseau East Graphite project.
ON BEHALF OF THE BOARD
"Chris Bogart"
President & CEO
For further information, contact:
Corporate Information
Standard Graphite Corp.
Chris Bogart
President & CEO
Tel: (604) 683-2509 Fax: (604) 683-2506
[email protected]
www.standardgraphite.com
Cautionary Statement:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking statements relating to the future performance of Standard Graphite Corp. 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 are detailed from time to time in Standard Graphite Corp.'s filings with the appropriate securities commissions.