Savant Explorations Ltd.
TSX VENTURE : SVT

Savant Explorations Ltd.

October 17, 2008 13:37 ET

Savant Announces Non-brokered Unit Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2008) - Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") announces it has arranged a non-brokered private placement of 770,000 Units for gross proceeds of $77,000. The private placement is scheduled to close on or before October 22, 2008. Each unit is priced at $0.10 per unit and consists of one common share and one-half warrant. One whole warrant will entitle the holder to purchase one common share at $0.15 for a period of two years from Closing. There is no finders' fee associated with the financing.

The Securities will be sold pursuant to applicable securities law exemptions in the Provinces of Ontario, British Columbia and such other provinces of Canada as the Company may determine. Notwithstanding the foregoing, it is not contemplated that an offering memorandum will be prepared for the private placement. The Securities will be subject to the mandatory four month plus one day hold period from the date of Closing. The Offering is subject to receipt of regulatory acceptance. Savant will use the net proceeds for general corporate purposes.

This news release contains forward-looking statements concerning the proposed financing of Savant. These statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to complete the proposed financing, failure to obtain necessary regulatory or shareholder approvals, exploration and other risk factors beyond Savant's control. There can be no assurance that such forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.

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