Savant Explorations Ltd.

Savant Explorations Ltd.

March 26, 2009 13:22 ET

Savant Announces the Closing of a Share Swap Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2009) - Savant Explorations Ltd. ("Savant") (TSX VENTURE:SVT) announces the closing of a share swap transaction with Grafton Resource Investments Ltd. ("Grafton"), an arm's-length party which is a Cayman Island-based closed end fund managed by Newland Fund Management LLP of London, England. Grafton was incorporated for the purpose of capital gains appreciation in the medium term from investments in the natural resource sector.

Under the share swap transaction with Grafton, Savant issued 2,333,333 shares to Grafton at $0.06 per share, representing a value of CDN$140,000, in exchange for CDN$140,000 worth of shares of Grafton. Grafton has issued 2,567 shares to Savant based on a Grafton Net Asset Value of US$43.98 per share as at January 30, 2009. Savant expects that the Grafton shares will provide it with a source of additional working capital through the sale of the Grafton shares in the short to medium term.

The common shares of Savant issued pursuant to the share swap transaction are subject to a four-month hold period which expires on July 26, 2009. Grafton now owns 9.3% of Savant's outstanding shares.

This news release contains forward-looking statements concerning revenue that Savant may receive from the sale of shares of Grafton. These statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate due to events beyond the control of Savant. 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.

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

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