VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2012) - The Board of Directors of Savant Explorations Ltd. ("Savant") (TSX VENTURE:SVT) has approved the granting of stock options to directors, officers and consultants for the purchase of 1,950,000 common shares of the Company. The options are granted pursuant to the Company's Stock Option Plan and have an exercise price of $0.10 per share, a term of five years and are fully vested.
Savant is a junior mineral exploration company actively searching for new exploration properties in the Americas as well as partners for its advanced stage Blue Moon Project in the United States and Yava polymetallic project in Canada. The Company's Yuby-Gabriela property in Chile is currently under option to Minera Fuego, a private Chilean Company. Terms of the option include the payment of US$4.03 million over four years of which US$530,000 has been received to date. The next payment of US$500,000 is due in April 2013.
For more information on Savant's activities please visit the Company's website at www.savantexplorations.com.
On behalf of Savant Explorations Ltd.
John McClintock, President, CEO and Director
This news 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.
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 news release.