Savant Explorations Ltd.

Savant Explorations Ltd.

October 21, 2009 09:22 ET

Savant Explorations Ltd. Announces Induced Polarization Survey on Gabriela Property Located 45 km From Chuquicamata Mine, Northern Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 21, 2009) - Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") is pleased to announce it will commence an Induced Polarization survey in November over its 5900 hectare Gabriela property located in Chile's prolific Paleocene porphyry copper district. The Gabriela property is well located along a major highway and power transmission lines approximately 60 kilometres north of BHP Billiton's Spence producing mine and 40 kilometres west of Codelco's producing Chuqicamata mine. These mines currently have over 1 million tonnes of annual copper production. The Gabriela property is one of the few junior company held large properties with demonstrated porphyry copper mineralization in the main Chilean porphyry copper trend.

Previous geophysical surveys and drilling, including Savant's previously reported July 2008 drill program, focused on a small portion of the property (approximately 25%) and discovered two areas of porphyry copper- molybdenum mineralization. The current geophysical program will examine the remaining 4,400 hectares of the property, which is largely covered by shallow gravels where the only previous exploration was 3 widely spaced reconnaissance holes. Two of these shallow holes drilled through the covering gravels and intersected propylitically altered, pyritic, andesitic volcanic rocks with geochemically anomalous levels of copper. This type of alteration and anomalous copper in these holes are similar to that found at the periphery of the Spence deposit located 63 kilometres to the south. The induced polarization survey is being used to locate areas of anomalous chargeability and resistivity, which are geophysical characteristics often associated with porphyry copper mineralization. Targets developed by the geophysical survey will be subsequently tested by drilling.

The Gabriela property is 100% owned by Savant. A portion of the property, referred to as the Yuby claims is subject to Xstrata's back-in right to earn 50% of Savant's interest in the property by spending 2.5 times Savant's expenditure on the property. The majority of the planned induced polarization survey will be conducted on concessions not included in the Xstrata back-in right.

Savant also is pleased to announce that Mr. Robert McKnight, P.Eng. MBA has been appointed as interim Chief Financial Officer. Mr. McKnight is a Director of Savant, and is also a Director and Vice President Corporate Development of Selwyn Resources Ltd. ("Selwyn"). Mr. McKnight is a geological engineer with over 30 years experience in mining and mining finance, including previously acting as CFO for StrataGold Corporation, Yukon Zinc Corporation and Selwyn Resources Ltd.

Mr. McKnight replaces Mr. David Kwong, CA, who was interim CFO. Savant is very grateful to Mr. Kwong for contributions to Savant during the past 10 months.

John McClintock, P. Eng, President Savant Explorations Ltd. is the Qualified Person, as defined by National Instrument 43-101, responsible for the technical data in this news release.

This press release contains forward-looking statements. 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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