AME African Min&Ex

TIDMSAV

RNS Number : 1774D

Savannah Resources PLC

22 October 2015

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

22 October 2015

Savannah Resources Plc

Director Dealings

Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), advises that in accordance with the Company's announcement on 19 October 2015, Mr Matthew King, the Company's Chairman, has elected to take part of his remuneration by the issuance of ordinary shares of 1.0p each ('Ordinary Shares') in Savannah. As a result he was issued with 833,333 Ordinary Shares. As was also anticipated in the Company's announcement on 19 October, 205,495 of these shares have now been sold, today, to meet the associated tax obligations associated with the payment at an effective price of 2.03p per share.

Following these transactions Mr King owns 627,838 Ordinary Shares, representing 0.24% of the Company's total voting rights.

**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 
 

**ENDS**

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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