Savannah Resources PLC Appointment of Joint Corporate Broker (7653R)

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RNS Number : 7653R

Savannah Resources PLC

31 October 2023

Savannah Resources Plc

(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')

Appointment of Joint Corporate Broker

Savannah, the developer of the Barroso Lithium Project in Portugal, Europe's largest spodumene lithium deposit , is pleased to announce the appointment of SCP Resource Finance ('SCP') as Joint Corporate Broker with immediate effect .

SP Angel Corporate Finance LLP continues in its roles as the Company's Nominated Adviser and Joint Corporate Broker.

Regulatory Information

This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

Savannah - Enabling Europe's energy transition.

**ENDS**

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For further information please visit www.savannahresources .com or contact:

 
  Savannah Resources PLC                                  Tel: +44 20 7117 2489 
   Emanuel Proença, CEO 
  SP Angel Corporate Finance LLP (Nominated Advisor       Tel: +44 20 3470 0470 
   & Joint Broker) 
   David Hignell/ Charlie Bouverat (Corporate Finance) 
   Grant Barker/Abigail Wayne (Sales & Broking) 
  SCP Resource Finance (Joint Broker)                     Tel: +44 204 548 1765 
  Filipe Martins/Chris Tonkin 
 
  Camarco (Financial PR)                                  Tel: +44 20 3757 4980 
   Gordon Poole/ Emily Hall / Fergus Young 
 
  LPM (Portugal Media Relations)                          Tel: +351 218 508 110 
   Herminio Santos/ Jorge Coelho

About Savannah

Savannah Resources is a mineral resource development company and the sole owner of the Barroso Lithium Project in northern Portugal, the largest grade spodumene lithium resource outlined to date in Europe.

Through the Barroso Lithium Project (the 'Project'), Savannah will help Portugal to play an important role in providing a long-term, locally sourced, lithium raw material supply for Europe's rapidly developing lithium battery value chain. After the Environmental Licence was granted in May 2023 and the Scoping Study confirmed the economic potential of the Project in June 2023, production is now targeted and on track to begin in 2026. At that stage, Savannah will start producing enough lithium for approximately half a million vehicle battery packs per year, equal to a significant portion of the European Commission's Critical Raw Material Act goal of a minimum 10% of European endogenous lithium production set for 2030. Savannah is focused on the responsible development and operation of the Barroso Lithium Project so that its impact on the environment is minimised and the socio-economic benefits that it can bring to all its stakeholders are maximised.

The Company is listed and regulated on the London Stock Exchange's Alternative Investment Market (AIM) and the Company's ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol FWB: SAV, and the Börse Stuttgart (SWB) under the ticker "SAV".

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October 31, 2023 03:00 ET (07:00 GMT)

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