TSX.V:

Savary Gold Completes Earn-In On Option Agreement For Houndé South From Endeavour Mining

Toronto, Canada – July 8, 2014 – Savary Gold Corp. (TSX-V: SCA) (“Savary”) has completed the earn-in portion of the option agreement for the Houndé South gold project located in south-west Burkina Faso. The Option and Earn-in Agreement (the “Earn-in Agreement”) called for Savary to incur US$3 million in exploration expenditures and issue Savary Gold shares representing 19.99% of the outstanding share count to Endeavour Mining Corporation. These expenditure obligations have been met and the share issuance is expected to take place upon transfer of the concessions to Savary’s Burkina Faso exploration subsidiary.

Savary has completed 11,744 metres of drilling in 82 core and reverse circulation holes on its Houndé South property. The latest campaign tested previously recognized gold zones and geochemical and geophysical targets in the Karangosso, Kien and Kueredougou areas. The gold-bearing trends were extended in all three areas, with the best results returned from Kien where at least eight gold-bearing zones were intersected over a large area.

“We are very pleased to have completed the earn-in for the Houndé South Property” stated Don Dudek, President & CEO of Savary Gold Corp. “Management is currently modelling the four different mineralized zones in order to prioritize future drilling and more accurately plan drill hole placement. Savary’s goal is to define a maiden inferred mineral resource of at least 1 million ounces.”

About Savary Gold

Savary Gold is a Canadian exploration company 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 that are presently subject to extensive exploration efforts (including Endeavour Mining’s Houndé Project, Roxgold’s Yaramoko Project and Sarama’s South Houndé Project, which is adjacent to Savary Gold’s property). For additional information please visit our website at www.savarygold.com and follow us on Facebook, Linked-In and Twitter: @SavaryGold.

Don Dudek, P.Geo., President and CEO of the Company and a “Qualified Person” under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release. 

SAVARY GOLD CORP.
On behalf of the Board
“Don Dudek”
President & Chief Executive Officer

For more information, please contact:

Michael McAllister, Manager, Investor Relations
T: 416-309-2134
E: info@savarygold.com
www.savarygold.com

Cautionary Notes

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.

This news release may contain forward-looking statements.  These statements include statements regarding the earn-in portion of the option agreement for the Houndé South gold project, the details and timing of Savary’s exploration plan, the results of the recently completed drilling and sampling, the exploration potential of Savary's properties and the satisfaction of work commitments related to the option on the Hounde South property. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations.  We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

2014 Houndé South Project Assay Composite Table 

ZONE

HOLE

FROM (m)

TO (m)

LENGTH (m)*

g/t Au

Karangosso

HS-DH-14-01

32.50

52.60

21.30

3.12

Karangosso

HS-DH-10-1B

24.00

51.00

27.00

2.90

Karangosso

HS-DH-10-1B

111.35

132.00

20.15

0.79

Karangosso

HS-DH-14-02

180.55

181.00

0.45

0.60

Karangosso

HS-DH-14-02

203.00

208.00

5.60

2.92

Karangosso

HS-DH-14-02

217.10

218.10

1.00

0.90

Karangosso

HS-DH-14-02

222.10

229.30

7.20

0.55

Karangosso

HS-DH-14-03

106.00

106.70

0.70

0.92

Karangosso

HS-DH-14-04

179.20

205.30

26.10

0.77

Karangosso

incl.

179.20

186.05

6.85

1.23

Karangosso

incl.

199.50

204.40

4.90

1.62

Karangosso

HS-DH-14-04

231.95

236.15

4.20

0.86

Karangosso

HS-DH-14-04

243.20

249.50

6.30

1.53

Karangosso

HS-DH-14-05

9.60

11.30

1.50

1.22

Karangosso

HS-DH-14-05

134.00

135.00

1.00

2.74

Karangosso

HS-DH-14-05

174.60

175.30

0.70

0.54

Kien

HS-DH-14-06

69.00

84.00

15.00

1.51

Kien

HS-DH-14-06

63.75

71.00

7.25

0.62

Kien

incl.

69.00

71.00

2.00

1.60

Kien

HS-DH-14-06

80.00

84.00

4.00

3.30

Kien

HS-DH-14-06

91.00

92.00

1.00

1.59

Kien

HS-DH-14-06

113.20

115.10

1.90

0.82

Kien

HS-DH-14-06

194.70

201.70

7.00

0.67

Kien

HS-DH-14-07

1.80

17.50

15.70

1.52

Kien

HS-DH-14-07

100.00

125.55

25.55

0.91

Kien

incl.

100.00

103.00

3.00

2.34

Kien

incl.

122.00

125.55

3.55

1.71

Kien

HS-DH-14-07

141.15

144.00

2.85

2.14

Kien

HS-DH-14-07

156.60

161.70

5.10

1.35

Kien

HS-DH-14-08

101.00

105.00

4.00

3.77

Kien

HS-DH-14-08

176.38

178.05

1.67

0.90

Kien

HS-DH-14-09

20.00

22.25

2.25

1.06

Kien

HS-DH-14-09

145.70

156.30

10.60

1.54

Kien

HS-DH-14-09

188.40

190.40

2.00

0.96

Kien

HS-DH-14-10

48.50

48.90

0.35

2.33

Kien

HS-DH-14-10

68.87

70.10

1.15

0.78

Kien

HS-DH-14-10

192.22

194.70

2.48

1.32

Kien

HS-DH-14-10

198.35

199.15

0.75

5.15

Kien

HS-DH-14-11

16.50

18.00

1.10

0.97

Kien

HS-DH-14-11

51.78

54.50

2.72

2.67

Kien

HS-DH-14-11

85.40

104.89

19.49

0.87

Kien

incl.

99.80

104.89

5.09

1.70

Kien

HS-DH-14-11

199.23

206.00

6.77

0.41

Kien

HS-DH-14-12

34.00

34.92

0.92

0.51

Kien

HS-DH-14-12

190.90

194.70

3.80

8.90**

Karangosso

HS-RC-14-05

61.00

62.00

1.00

0.98

Karangosso

HS-RC-14-07

5.00

20.00

15.00

0.20

Karangosso

HS-RC-14-07

29.00

44.00

15.00

0.47

Karangosso

HS-RC-14-07

51.00

100.00

49.00

0.35

Karangosso

HS-RC-14-10

27.00

30.00

3.00

2.06

Karangosso

HS-RC-14-10

72.00

75.00

3.00

3.65

Karangosso

HS-RC-14-10

77.00

87.00

10.00

0.24

Karangosso

HS-RC-14-11

12.00

17.00

5.00

0.45

Karangosso

HS-RC-14-11

76.00

77.00

1.00

0.90

Karangosso

HS-RC-14-11

111.00

112.00

1.00

0.96

Kueredougou

HS-RC-14-13

23.00

24.00

1.00

2.49

Kueredougou

HS-RC-14-15

31.00

34.00

3.00

2.24

Kueredougou

HS-RC-14-15

39.00

40.00

1.00

1.27

Kueredougou

HS-RC-14-15

70.00

71.00

1.00

0.70

Kueredougou

HS-RC-14-15

82.00

83.00

1.00

0.52

Kueredougou

HS-RC-14-15

95.00

98.00

3.00

7.26

Kueredougou

HS-RC-14-15

106.00

107.00

1.00

0.50

Kien

HS-RC-14-17

56.00

57.00

1.00

0.61

Kien

HS-RC-14-17

66.00

70.00

4.00

0.74

Kien

HS-RC-14-17

83.00

88.00

5.00

0.64

Kien

HS-RC-14-18

2.00

5.00

3.00

1.10

Kien

HS-RC-14-18

40.00

41.00

1.00

0.51

Kien

HS-RC-14-18

84.00

85.00

1.00

1.21

Kien

HS-RC-14-19

10.00

11.00

1.00

0.83

Kien

HS-RC-14-19

47.00

48.00

1.00

0.55

Kien

HS-RC-14-20

3.00

4.00

1.00

2.29

Kien

HS-RC-14-21

38.00

39.00

1.00

0.91

Kien

HS-RC-14-22

71.00

72.00

1.00

1.13

Kien

HS-RC-14-23

86.00

87.00

1.00

0.88

Kien

HS-RC-14-23

101.00

102.00

1.00

0.71

Kien

HS-RC-14-23

109.00

110.00

1.00

1.49

Kien

HS-RC-14-24

58.00

59.00

1.00

0.60

Kien West

HS-RC-14-26

49.00

50.00

1.00

1.97

Kien

HS-RC-14-27

11.00

12.00

1.00

2.18

Kien

HS-RC-14-27

57.00

64.00

7.00

2.34

Kien

HS-RC-14-27

73.00

84.00

11.00

1.06

Kien

HS-RC-14-28

16.00

20.00

4.00

0.82

Kien

HS-RC-14-28

27.00

34.00

7.00

0.80

Kien

HS-RC-14-28

26.00

54.00

28.00

0.89

Kien

incl.

45.00

51.00

6.00

2.53

Kien

HS-RC-14-28

65.00

66.00

1.00

0.53

Kien

HS-RC-14-29

21.00

24.00

3.00

1.81

Kien

HS-RC-14-29

104.00

107.00

3.00

1.56

Kien

HS-RC-14-29

104.00

134.00

30.00

0.89

Kien

incl.

121.00

127.00

6.00

2.65

Kien

HS-RC-14-30

79.00

80.00

1.00

0.80

Kien

HS-RC-14-31

33.00

46.00

13.00

1.35

Kien

incl.

33.00

38.00

5.00

2.74

Kien

HS-RC-14-32

2.00

17.00

15.00

1.36

Kien

incl.

2.00

11.00

9.00

1.90

Kien

HS-RC-14-32

94.00

103.00

9.00

1.87

A 0.5 g/t cut-off has been applied
* true widths are not estimated at this time due to insufficient information, however, a reasonable guide is that true width is approximately 70% of the drilled length.
**when capped at 30 g/t gold, interval grades 6.14 g/t Au