St-Georges Platinum and Base Metals Ltd. (CNSX:SX)(OTCQX:SXOOF)(FRANKFURT:85G)
is pleased to inform that the phase 1 of its drilling campaign on the
Isoukustouc property has resumed. The Company expects to complete a minimum of
1,200 meters on the B40 and northern Isoukustouc sectors of the property during
the month of April. The Company is also initiating a private placement that
should be completed in April.


The 2011-2012 Isoukustouc Drilling Campaign

In December 2011, the Company completed 2,100 metres of diamond drilling on the
Mathilda section of the Isoukustouc property on the Quebec North Shore. The
Company has now moved to the B40 and northern Isoukustouc sections of the
property where 6 drill holes are planned for approximately 1,200 meters.
Drilling on the B40 showing is conducted by Landdrill and supervised by
Consul-Teck Exploration. Initiated last week, the first drill-hole (B40-12-01)
reached a depth of 96 meters and intersected a +/- 10 meters mineralized zone
near the surface consisting of 1-2% pyrrhotite+/-pentlandite with several zones
attaining 5-8% pyrrhotite. This hole is located approximately 25 meters
southwest of the historical B40 showing. (Pictures of some of the mineralized
zone are showed below).


Drilling of the second hole (B40-12-02), located about 25 meters northeast of
the historical showing, is currently underway. A third hole is planned in the
vicinity of B40. Three additional drill holes will be performed to test positive
magnetic anomalies along a metasediments/gabbro contact in the northern
Isoukustouc sector. (See maps below) 


Pictures and maps are available at the following address:
http://media3.marketwire.com/docs/Isukoustouc%20B40Drilling%20andPP.pdf


Financing

The Company initiated today two separated non-brokered private placements (the
"Offerings"), for gross proceeds of up to $2,400,000, comprising of:




A.  Up to 24,000,000 non-flow through units at $0.05 per unit, for gross
    proceeds of up to $1,200,000, with each unit to consist of: (i) one
    common share of the Company, (ii) one-half of one common share purchase
    warrant, with each whole warrant to entitle the holder to purchase one
    additional common share at a price of $0.08 for a period of 12 months
    from closing, and (iii) one-half of one common share purchase warrant,
    with each whole warrant to entitle the holder to purchase one additional
    common share at a price of $0.15 for a period of 24 months from closing;
    and 
    
B.  Up to 15,000,000 flow-through units at $0.08 per unit, for gross
    proceeds of up to $1,200,000, with each unit to consist of: (i) one
    flow-through common share of the Company, (ii) one-half of one flow-
    through common share purchase warrant, with each whole warrant to
    entitle the holder to purchase one additional flow-through common share
    at a price of $0.10 for a period of 12 months from closing, and (iii)
    one-half of one common share purchase warrant, with each whole warrant
    to entitle the holder to purchase one additional common share at a price
    of $0.25 for a period of 24 months from closing. 



Closing of the Offerings is anticipated to occur on or May 15, 2012 and is
subject to Canadian national Stock Exchange acceptance. Securities issued under
the Offerings will be subject to a hold period in Canada which will expire four
months and one day from the date of closing.


The proceeds from the Offerings will be used for the exploration program and for
working capital purposes.


On Behalf of the Board of Director

FRANK DUMAS

President / CEO

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.


For additional information, please visit our website at: www.stgeorgesplatinum.com

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.


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.
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