TSX.V:

Savary Gold Closes $1 Million Financing

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES 

June 14, 2013 -- SAVARY GOLD CORP. ("Savary" or the "Company") (TSX V: SCA) has closed its previously announced private placement financing  through the sale of 16,667,000 common shares at a price of $0.06 per common share for gross proceeds of $1,000,020 (see press release dated May 15, 2013).

Savary intends to use the proceeds from the financing for continued exploration of the Houndé South project in Burkina Faso and for general corporate purposes. The Company has had remarkable success with its drilling program during the past year and is excited to continue work proving its thesis, that the Houndé South project hosts a deposit similar to other deposits currently producing or subject to development throughout the Houndé Greenstone Belt.

The Common Shares issued by Savary are subject to statutory resale restrictions for a period of four months and one day, until October 15, 2013. Closing of the financing remains subject to receipt of all applicable regulatory approvals, including final approval of the TSX Venture Exchange.

About Savary Gold

Savary Gold is a Canadian company with a tightly held capital structure and totally focused on exploring the Houndé South Gold Property in Burkina Faso. The property is in the Birimian age Houndé Greenstone Belt, which hosts Semafo’s Mana mine and additional gold deposits which are presently subject to extensive exploration efforts (including Endeavour Mining’s Houndé Project and Sarama’s South Houndé Project). For additional information please visit our website at www.savarygold.com

 

SAVARY GOLD CORP.

On behalf of the Board

“Charles Mostert”

President & Chief Executive Officer

For more information, please contact:

Michael McAllister, Manager, Investor Relations

T: 416-309-2134

E: info@savarygold.com

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Forward-looking statements or information relate to, among other things, the next phase of the Company’s exploration program and the exploration potential of the Company's properties. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the risks associated with outstanding litigation, if any; risks associated with project development; the need for additional financing; operational risks associated with exploration; fluctuations in gold and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and other risks and uncertainties, including those described in the Company’s most recent Management Discussion & Analysis report filed with the Canadian Securities Administrators and available at www.sedar.com. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.