Savant Receives US$180,000 Option Payment for Yuby-Gabriela Property

Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") is pleased to announce it
has received the US$180,000 option payment from Minera Fuego, a private Chilean
Company for Savant's Yuby-Gabriela Property, Chile. Under the terms of the
agreement, Minera Fuego can earn a 100% interest in the property by making US$
4.03 million in payments over 48 months to Savant. Savant will retain a 2.5% NSR
in the project. Minera Fuego will have the right to reduce the NSR to 1.5% by
paying Savant US$ 5 million. To date, Savant has received US$280,000 in option
payments. The next option payment of $250,000 is due in 6 months time.
Subsequent option payments of US$500,000, US$1,000,000 and US$2,000,000 are due
in 18 months, 30 months and 42 months respectively. 


Savant is also please to announce the appointment of Ms Katherine Gallagher as
Manager of Investor Relations and Administration. Ms Gallagher is a recent
Commerce graduate from the University of Victoria who will be assisting senior
management in all areas of investor relations and public company administration.
As part of her employment agreement, Ms Gallagher has been granted options to
purchase 75,000 shares at an price of CA$0.10 per share exercisable for a five
year term.


This news release contains forward-looking statements concerning the Yuby
Gabriela 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.

Savant Explorations Ltd. (TSXV:SVT)
過去株価チャート
から 6 2024 まで 7 2024