Savant Explorations Ltd.

Savant Explorations Ltd.

October 02, 2007 12:00 ET

Savant Explorations Ltd. Appoints Richard Cote Vice President of Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2007) - Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") is pleased to announce the appointment of Mr. Richard Cote, MSc, P.Eng as its new Vice President of Exploration. Mr. Cote has over 30 years experience in the mineral exploration industry and has held a number of senior positions with both national and international mining companies. At Savant, Richard will join two other key members of the former Rio Algom Exploration Group: Chairman Kelly O'Connor and President Jack McClintock. Rio Algom's Exploration Team had one of the lowest discovery costs per pound of copper in the industry and is credited with the discovery of the Spence deposit, now producing over 200,000 tonnes of cathode copper per year and the West Zone at the Cerro Colorado containing 100 million tonnes grading 1% copper.

Richard started his career with Preusag Canada Ltd. before moving to Noranda Exploration as District Geologist Quebec. Richard joined Rio Algom in 1990 and rose through the ranks to become Exploration Manager for Peru. After the take over of Rio Algom by Billiton and the later merger with BHP, Richard continued in a manager level based in Santiago. For the past two years he has been an independent consultant based in Montreal. Richard speaks English, French and Spanish and has broad experience in porphyry copper, orogenic and epithermal gold, skarn and VMS exploration as well as extensive industry contacts in both North and South America. His language abilities, technical acumen, managerial skills and pragmatic approach to exploration are an excellent fit for Savant's exploration strategy. Richard will provide Savant with additional depth in searching for new opportunities in French speaking Africa and in Latin America.

Mr. Jack McClintock, President and C.E.O., stated "We are thrilled to have someone of Richard's calibre joining the management team. Strengthening our senior management team at this time is a very important step towards achieving our goals of acquiring a major new project, moving the Yava project forward towards a discovery and initiating exploration on our Chilean properties. I look forward to working closely with Richard in creating value for all of our shareholders."

In keeping with the Savant's stock option policy, Mr. Cote has been granted an incentive stock option for 200,000 shares exercisable at CA$0.23 for a five year term.

This press release contains forward-looking statements concerning the mineralization at and the potential of the Yava Project and of Savant's' future prospects. These forward-looking statements are based upon the reasonable beliefs of Savant and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Savant. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Savant may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Savant does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information

  • Savant Explorations Ltd.
    John McClintock, President and CEO
    (604) 682-5474 Ext. 237 or Toll Free: 1-877-682-5474
    International Toll Free: 800-8682-5474
    Savant Explorations Ltd.
    Arif Roya, Manager of Investor Communications
    (604) 682-5474 Ext. 237 or Toll Free: 1-877-682-5474
    International Toll Free: 800-8682-5474
    (604) 682-5404 (FAX)