Toronto, Canada – August 24, 2016 – Savary Gold Corp. (TSX-V: SCA) (“Savary” or the “Company”) has granted a total of 250,000 stock options to an officer and various consultants. The options may be exercised at a price of $0.125 per common share for a period of five years from the date of grant. The grant of options remains subject to the approval of the TSX Venture Exchange.
About Savary Gold
Savary Gold is a Canadian exploration company which, along with partner Sarama Resources Limited, is focused on exploring and developing the Karankasso Gold Project in Burkina Faso. The Project properties lie within the Birimian age, Houndé Greenstone Belt, which hosts Semafo’s Mana mine, Roxgold’s Yaramoko MIne and additional gold deposits that are presently subject to production decisions and extensive exploration efforts (including Endeavour Mining’s Houndé Project, Orezone’s (acquired by Sarama) Bondi Project and Sarama’s/Acacia’s South Houndé Project, which is adjacent to Savary Gold’s property). The Project contains an Inferred open pit constrained mineral resource estimate of 9.16 million tonnes grading 2.28 g/t gold (Savary news release November 24, 2015). For additional information please visit our website at www.savarygold.com.
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
President & Chief Executive Officer
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 themineral resource estimate and future plans. 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.