Savant Explorations Ltd.

Savant Explorations Ltd.

October 18, 2010 09:15 ET

Savant Explorations Ltd. Strengthens Management Team

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2010) - Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") is pleased to announce that Mr. David Douglas, CA, has been appointed as Chief Financial Officer.

Mr. Douglas is a Chartered Accountant with over twenty-five years of experience in the accounting, corporate finance, and mining industries. He has served as Chief Financial Officer or Corporate Secretary to a number of junior mining companies including Blackstone Ventures Inc., Western Keltic Mines Inc., Stornoway Diamond Corporation, Sherwood Copper Corporation and Eastfield Resources Ltd. Throughout his career he has participated in the sale or financing of over 30 private and public enterprises with a combined value of $300 million. Mr. Douglas is a graduate of the Commerce Program (Finance) at the University of British Columbia and is a member of the British Columbia and Canadian Institutes of Chartered Accountants. Mr. Douglas will continue to serve as Chief Financial Officer of Blackstone Ventures Inc.

Mr. Douglas was granted incentive stock options for the purchase of up to 200,000 common shares of the Company, at a price of $0.21, for a five year period pursuant to the Company's Stock Option Plan.

Mr. Douglas replaces Mr Robert McKnight. Savant is very grateful to Mr. McKnight for serving as the interim CFO and for his contributions to Savant over the last year. Mr. McKnight will remain a Director of Savant.

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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