Good progress made with fieldwork

Savannah Resources Plc, the developer of the Barroso Lithium Project in Portugal (the “Project”), a 'Strategic Project' under the European Critical Raw Materials Act and Europe's largest spodumene lithium deposit, is pleased to report good progress being made on its final construction related field programme ahead of the Project’s future development.

Field programme

Preparation completed: All access and groundwork has been completed for over 200 geotechnical test pits, 32 geotechnical drill holes and 17 hydrogeological boreholes.

Geotechnical pits update: 189 pits excavated and logged to date, 23 pits pending excavation and logging.

Drilling update:

Geotechnical: 3 holes completed to date at the site of an environmental control reservoir with 1 currently in progress at the site of a water storage reservoir. Approximately 83m have been drilled to date out of a planned 300m.

Hydrogeological: 14 holes completed to date for a total of 696m out of a planned 800m (separate 40m and 10m holes are planned at each site). The holes are located on the sites of environmental control reservoirs, water storage reservoirs, the Tailings Storage Facility, processing plant site and waste rock dumps.

Rig count: Two rigs are currently operating on site, a diamond drilling rig for geotechnical investigation, and a down hole hammer percussion drill rig for hydrogeological holes. A third rig will be mobilised shortly following the demobilisation of the hydrogeological rig.

Sampling and testing: 128 pits have been selected for laboratory testing to date with all results now received. Drill core sampling is ongoing with first deliveries to a geotechnical dedicated lab in Madrid scheduled for later this week. In addition, light weight deflectometer in situ testing on 11 pits will be completed this week, with a further 9 pits awaiting specific ground condition testing.

Next steps: The third rig is expected to arrive on site next week, following which geotechnical drilling activities will commence in the Tailings Storage Facility area.

John Pereira, Savannah’s Exploration Manager, said: “The team is making good progress with this very important field programme, which will help us confirm ground and groundwater conditions at a range of locations across the Project. Data from this programme will be fed into the detailed engineering work we are undertaking on the Project’s infrastructure including roads, water storage facilities and waste storage areas.

“We expect to have the programme completed in the coming weeks, ahead of the authorisation period granted by the Portuguese State, with remaining results expected from the labs in early Q4. Once this programme is finalised, all the geotechnical and hydrogeological field drilling activity ahead of construction will be done, and all field inputs for RECAPE, FID and construction preparation will be completed. The next planned major work in the field, not related to construction, will be associated to further geological prospection.”

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