VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 5, 2017) – Savant Explorations Ltd. (TSX VENTURE:SVT) (the “Company“) announces the Company has arranged a private placement of $500,000 at a price of $0.05 per common share, subject to regulatory approval. Certain insiders have agreed to participate and the common shares to be issued pursuant to this private placement will be subject to a hold period expiring four months and one day from closing. The proceeds will be used to advance the Company’s wholly-owned Blue Moon zinc project including initiating the baseline work for permitting, initial engineering work, obtaining permits for the anticipated drill program and general working capital.
About Savant
The Company is focused on the wholly-owned advanced stage Blue Moon Zinc project. The Blue Moon project has a current resource estimate of 2.62 million tons with a grade of 6.01% zinc in the Indicated category and 2.68 million tons with a grade of 5.98% zinc in the Inferred category plus significant values of copper, silver and gold. Historical metallurgical testing indicates favourable recoveries of zinc and other metals. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company’s website (www.savantexplorations.com) and filed on SEDAR on February 21, 2008. The Company plans to advance the project to feasibility and permitting.
Qualified Persons
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
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. This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration and development drilling, exploitation and development activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com.
