VANCOUVER, BRITISH COLUMBIA–(Aug. 2, 2012) – Standard Graphite Corp. (TSX VENTURE:SGH) (the “Company”) is pleased to announce that the results from an airborne geophysical survey flown over its Mousseau East property coincide with the outline of the known mineralization. The survey has also identified targets in other sectors of the property where no historical work has been reported.

Airborne magnetic (MAG) and time domain electromagnetic (TDEM) surveys were flown by Prospectair Geosurveys over the Mousseau East property during the month of June to precisely locate the conductors associated with the graphite-bearing units in preparation for the field program (see press release 21 July, 2012). Results clearly outline the main Mousseau East zone where a historical resource has previously been outlined and also traces the along-strike extension towards the west. The extension of the main zone will be targeted for resource expansion during the upcoming diamond drilling program scheduled to commence soon.

During the survey, some conductors were also reported outside of the known mineralized area and its direct extension, notably towards the east of Oat Lake. These conductors are currently being investigated for graphite outcropping by Standard’s field team.

To view a map of the TDEM results please click here:

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

Chris Bogart, President and CEO comments on the progress at Mousseau East: “The geophysics has proven its efficiency at outlining the known graphite zones at our historic Mousseau deposit. We are excited at the prospect of expanding our current historic resource both along-strike and at depth and potentially discovering new zones as suggested by the TDEM survey.”

Antoine Fournier, P. Geo., manages Standard’s exploration and development programs and is the Qualified Person as defined by National Instrument 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 will be 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 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.