Savant Explorations Ltd.
TSX VENTURE : SVT

Savant Explorations Ltd.

April 01, 2010 18:03 ET

Savant Explorations Ltd. Closes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2010) -

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Savant Explorations Ltd. ("Savant" or the "Company") (TSX VENTURE:SVT) announces that further to its news release of March 9, 2010, the Company has now closed the first tranche of non-brokered flow-through private placement consisting of 3,777,777 shares at $0.09 per share for a gross proceeds of $340,000. A Finders fee of $17,000 was paid on shares issued.

The securities sold have a four month hold period expiring on August 2, 2010. The net proceeds will be used for exploration of Savant's recently optioned Parbec Project, Quebec.

The securities were sold pursuant to applicable securities law exemptions in the Province of British Columbia and such other Provinces as the Company may determine.

This press release contains forward-looking statements concerning Savant. 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.

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