Savant Explorations Ltd.

Savant Explorations Ltd.

September 13, 2010 18:00 ET

Savant Explorations Ltd. Announces $1,000,000 Non-Brokered Unit Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2010) -


Savant Explorations Ltd. ("Savant" or the "Company") (TSX VENTURE:SVT) announces a non-brokered private placement offering of up to $1,000,000 in Units (the "Offering"). Each Unit will be priced at $0.18 per Unit and will consist of one Savant common share and one half of a common share purchase warrant. Each full common share purchase warrant will entitle the holder to purchase one common share of Savant at a price of $0.28 per share for the period ending 12 months from the closing date; and thereafter at a price of $0.33 per share for the period ending 24 months from the closing date. Finder's fees and other compensation allowed under securities regulations will be payable on the Offering.

The Offering is scheduled to close before September 30, 2010. The securities will be sold pursuant to applicable securities law exemptions. The transaction is subject to receipt of required regulatory and Board approvals. The net proceeds will be used for further exploration and property acquisitions, advancing Savant's mineral property portfolio, working capital and general corporate purposes.

Savant has a portfolio of exploration properties in Quebec, Nunavut, Mexico, the USA and Chile. The Company's focus is currently on its Parbec and McWatters gold properties in Quebec. The McWatters and Parbec properties are located on the prolific Cadillac-Larder Lake Break.

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 due to, amongst other things, the failure to obtain necessary regulatory approvals or the failure to meet the other conditions precedent in the documentation for the financing, exploration results on the Parbec Property 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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