Director Dealing

RNS Number : 4258E

Savannah Resources PLC

03 November 2015

 

Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining

3 November 2015

Savannah Resources Plc

Director Dealing

Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), advises that earlier today 266,078 ordinary shares of 1.0p in the Company ("Ordinary Shares") were transferred to Dale Ferguson, the Company's Technical Director (and Board Member), from an existing shareholder as settlement for a third party liability owed to himself for professional services of £5,374.77, at an effective price of 2.02p per share.

Following this share transfer Mr Ferguson owns 266,078 Ordinary Shares, representing 0.10% of the Company's total voting rights.

**ENDS**

For further information please visit www.savannahresources.com or contact:

David Archer	Savannah Resources plc	Tel: [phone]
David Hignell / Gerry Beaney (Nominated Adviser)	Northland Capital Partners Ltd	Tel: [phone]
Jon Belliss / Elliot Hance (Corporate Broker)	Beaufort Securities Ltd	Tel: [phone]
Felicity Winkles/ Charlotte Heap	St Brides Partners Ltd	Tel: [phone]

**ENDS**

Notes

Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, exploration and development company.

Savannah has agreed to acquire 100% of Matilda Minerals Limitada which currently operates the Jangamo exploration project, and has agreed with Rio Tinto to form a joint venture in Mozambique to develop the combined Mutamba/Jangamo Project.  On 31 December 2014 Savannah announced maiden, 65Mt Inferred Mineral Resource @4.2% total heavy minerals ("THM") at a 2.5% cut-off grade for Jangamo.  The Mutamba, Dongane and Chilubane deposits have a combined exploration target of 7-12Bn tonnes at 3-4.5% THM (published in 2008).

Savannah has interests in three copper blocks in the highly prospective Semail Ophiolite Belt in Oman.  The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% copper and high grade intercepts of up to 56.35m at 6.21% Cu, with additional gold upside potential, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper and gold producer in a relatively short time frame. Together with its Omani partners, Savannah aims to outline further mineral resources to provide the critical mass for a central operating plant to develop the deposits.

 

END

 

 

RDSLLFIELDLVIIE