AME African Min&Ex

TIDMSAV

RNS Number : 8648B

Savannah Resources PLC

12 October 2015

Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining

12 October 2015

Savannah Resources Plc

Rio Tinto and Savannah Mutamba/Jangamo Joint Venture Update

Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), advises that the Rio Tinto Group and Savannah have agreed to extend the long stop date for fulfillment of the conditions precedent of the joint venture (announced on 22 June 2015(1) ) from 19 October 2015 until 31 March 2016 (or such later date as may be agreed in writing between the parties) to enable further time to fulfil the applicable approval processes.

(1) http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12397113.html

**ENDS**

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

 
    David Archer               Savannah Resources       Tel: +44 20 
                                plc                      7389 5019 
    David Hignell / Gerry      Northland Capital        Tel: +44 20 
     Beaney (Nominated          Partners Ltd             7382 1100 
     Adviser) 
    Jon Belliss / Elliot       Beaufort Securities      Tel: +44 20 
     Hance                      Ltd                      7382 8300 
     (Corporate Broker) 
    Felicity Winkles/          St Brides Partners       Tel: +44 20 
     Charlotte Heap             Ltd                      7236 1177 
 

Notes

Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, exploration and development company.

Savannah has agreed to acquire 100% of Matilda Minerals Limitada which currently operates the Jangamo exploration project, and has agreed with Rio Tinto to form a joint venture in Mozambique to develop the combined Mutamba/Jangamo Project. On 31 December 2014 Savannah announced maiden, 65Mt Inferred Mineral Resource @4.2% total heavy minerals ("THM") at a 2.5% cut-off grade for Jangamo. The Mutamba, Dongane and Chilubane deposits have a combined exploration target of 7-12Bn tonnes at 3-4.5% THM (published in 2008).

Savannah has interests in three copper blocks in the highly prospective Semail Ophiolite Belt in Oman. The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% copper and high grade intercepts of up to 56.35m at 6.21% Cu, with additional gold upside potential, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper and gold producer in a relatively short time frame. Together with its Omani partners, Savannah aims to outline further mineral resources to provide the critical mass for a central operating plant to develop the deposits.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 12, 2015 02:00 ET (06:00 GMT)

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