September 18, 2023 – Saville Resources Inc. (TSXv: SRE, FSE: S0J) (the “Company” or “Saville”) wishes to announce changes to its Board of Directors. Mr. Charn Deol has resigned as a director of the Company, effective immediately. The Company would like to express its sincere gratitude to Mr. Deol for his invaluable contributions and dedicated service during his tenure. His insights and leadership have been instrumental in guiding the Company through various strategic decisions.
Additionally, Saville is pleased to announce the appointment of Mr. Kevin Bottomley as a new director. Mr. Bottomley brings with him a wealth of experience in the mineral exploration industry and has held various leadership roles in prominent mining companies. His expertise and vision align well with Saville’s goals, and the Company looks forward to benefiting from his guidance in the coming years.
Mike Hodge, President of Saville Resources Inc., commented, “While we are saddened to see Mr. Deol depart, we are excited to welcome Mr. Bottomley to our team. His vast experience and industry knowledge will undoubtedly be an asset to Saville as we continue our exploration and development endeavors.”
About Saville Resources Inc.
The Company’s principal asset is the Niobium Claim Group Property, situated within the central Labrador Trough, Quebec, and currently under Earn-In Agreement from Commerce Resources Corp. for up to a 75% interest. The Property consists of 26 contiguous mineral claims, encompassing an area of approximately 1,223 hectares, and is considered prospective for niobium, tantalum, phosphate, and fluorspar. The Property includes the Miranna Target, where prior boulder sampling in the area has returned 5.9% Nb2O5 and 1,220 ppm Ta2O5, as well as the Mallard Prospect where drilling has returned wide intercepts of mineralization, including 1.00% Nb2O5 over 17.1 m, within a larger interval of 0.82% Nb2O5 over 42.3 m (EC21-175).
On Behalf of the Board of Directors
SAVILLE RESOURCES INC.
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Forward Looking Statements
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include the extension of the exploration earn-in agreement and that we anticipate Saville will undertake a drilling exploration program on the Niobium Claim group property; that Ashram has the potential to become a long-term supplier to the met-spar and acid-spar markets; and that the Company is positioning to be one of the lowest cost rare earth element producers globally. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these events, activities or developments from coming to fruition include: that Saville may not undertake, or complete, any exploration work on the Niobium Claim group property; that we may not be able to fully finance any additional exploration on the Ashram Project; that even if we are able raise capital, costs for exploration activities may increase such that we may not have sufficient funds to pay for such exploration or processing activities; the timing and content of any future work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful or samples derived from the Ashram Project may not yield positive results, and even if such tests are successful or initial sample results are positive, the economic and other outcomes may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; geopolitical risks which may result in market and economic instability; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable; The forward-looking statements contained in this news release are made as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.