Savant Explorations Ltd.

Savant Explorations Ltd.

March 01, 2011 10:15 ET

Savant Receives Results for First Two McWatters Holes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2011) - Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") is pleased to provide the results of the first two holes drilled on its McWatters Project. Both holes tested the eastern margin of the JKL Zone at depth. Drill Hole MCW-10-01 cut the JKL Vein System with the most significant result being 2.48gpt over 0.5 metres. Drill Hole MCW-10-02 tested the JKL Vein System 50 metres below MCW-10-01 with the most significant result being 8.8gpt over 1.2 metres. Additionally, in the deeper MCW-10-02 drill hole, gold values in the other parallel mineralized structures had appreciable higher gold grades than in the shallower drill hole MCW-10-01 (see table below). The results of these initial holes show that the JKL Zone remains open both to the east and to depth and based on the two holes reported, grades may to be improving with depth.

Drill Holes MCW-10-3 and MCW-11-04 were drilled west of the drill holes MCW-10-01 and MCW-10-02 and tested the western margin of the JKL Vein system at depth. Results from these holes and the two holes drilled at the 702 Zone are pending and will be released once they have been received and compiled.

Drill Hole From To Core Length Grade (gpt)
MCW-10-01 216.8m 217.3m 0.5m 2.48
MCW-10-02 243.0m 244.2m 1.2m 8.88
  255.0m 256.8m 1.8m 2.11
  372.9m 373.8m 0.9m 2.55
  376.2m 377.3m 1.1m 1.14
  449.3m 450.1m 0.8m 2.76
*Core length approximates true thickness   

The McWatters Property covers 4.0 km of strike length along the Cadillac-Larder Lake Break and includes the past-producing McWatters Mine (reported past production of 334,500 tonnes grading 10.8 grams/t gold), and two diluted historical resources of 235,000 tonnes grading 6.6 grams/t gold and 170,000 tonnes grading 5.0 grams/t gold referred to as the JKL and 702 Zones. A Qualified Person has not done sufficient work to classify these historical estimates as current mineral resources, Savant is not treating the historical estimates as current mineral resources and the historical estimates should not be relied upon. The historical resources were shallowly tested to depths less than 225 metres and remain open at depth. One of the historical resources occurs within a broad zone of alteration in mafic volcanic rocks along the main Cadillac-Larder Lake Break. The style and setting of the mineralization in this historical resource is similar to that in the high-grade, deep seated gold deposits in the Kirkland Lake District including the Kerr Addison Mine (39.5 Mt grading 8.5 grams/t gold).

Little exploration has occurred on the property away from the McWatters Mine and the historical resources. In these areas, testing of the main Cadillac-Larder Lake Break and secondary parallel structures, which host the gold mineralization on the property, is generally limited to depths in the order of 150 metres. The historical records note encouraging drill intercepts of 2 to 6 grams/t gold over narrow intervals in a parallel structure located north of the main Cadillac-Larder Break which warrants additional drilling. Savant has an option to acquire a 100% interest in the McWatters Property (See Savant press November 9, 2010 for details).

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

This news release contains forward-looking statements concerning the McWatters Property. 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 obtain necessary regulatory approvals, the failure to reach agreement on final documentation, exploration results and other risk factors that are 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 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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