Savannah Resources Plc announced the completion of the resource-related drilling in the first phase of its current two-phase drilling programme. The first set of assays from holes drilled at the NOA and Reservatorio orebodies have also been received showing excellent grades and continuity of mineralisation. These results, along with those still to be received, will be used to finalise plans for the second phase of drilling and will be fed into new resource estimates for the orebodies as part of the Project's ongoing Definitive Feasibility Study ('DFS').

Highlights: First phase of DFS-related resource drilling at the Project has been completed. Phase 1 drilling for metallurgical and geotechnical purposes, will be completed during March 2024. The resource infill drilling programme was designed to upgrade existing Indicated and Inferred resources at NOA, Reservatorio, Pinheiro and Grandao to both Measured and Indicated categories so that it can be used to define a maiden JORC (2012) compliant Reserve as part of the DFS study.

In total 3188.5m were drilled across 39 Reverse Circulation ('RC') holes (3 with diamond tails) and 3 diamond drill holes. Results have now been received from 25 holes with the best assays reported including: 41m @ 1.21% Li2 O from 159m in 23RESRC038; 40m @ 1.17% Li2 O from 70m in 23RESRC045; 11m @ 1.22% Li2 O from 13m in 23NOARC040; 13m @ 1.12% Li2 O from 31m in 23NOARC041; 8m @ 1.34% Li2 O from 21m in 23NOARC036. Initial results received from two holes at Reservatorio show the lithium mineralised pegmatite continuing at depth and have returned 40m+ widths with excellent lithium mineralisation grades.

Results received to date from the NOA deposit confirm the continuity of the lithium mineralisation and have highlighted that the pegmatite continues to the northwest on the Mining Lease area, beyond the current envelope of the resource. Diamond tails drilled at Reservatorio to access deeper parts of the pegmatite have returned notable pegmatite intersections, logging and sampling of these is currently underway. Geotechnical diamond drilling has begun at NOA and Reservatorio, to aid in finalising the mine designs.

Geologia e Geotecnia Consultores Lda., a geological consulting firm from Portugal, has been appointed to carry out the preliminary geotechnical assessment. Next steps: Further assay results will be released as they are received. Completion of phase 1 geotechnical and metallurgical drilling.

Planning for the second phase of drilling to be completed once all results are in hand. The Company still expects to begin updating the JORC resource estimates on a deposit-by-deposit basis later this quarter. Further Information: The first phase of infill resource drilling at the Barroso Lithium Project has been completed with a total of 3188.5m drilled across 39 Reverse Circulation ('RC') holes (3 with diamond tails) and 3 diamond drill holes.

This Phase 1 programme has been designed to infill the drilling primarily at Reservatorio, NOA, Pinheiro and Grandao to allow upgrades to the existing JORC Inferred and Indicated resource into the Measured and Indicated categories. This is a requirement for the Definitive Feasibility Study with the upgraded resources set to provide the foundation for the Project's first JORC Reserve estimate. Assay results have been received for the 23 RC holes drilled at NOA that were completed to confirm the continuity of the mineralisation of the pegmatite.

At Reservatorio 8 RC holes (3 with diamond tails) and 3 diamond holes have been drilled with results back for two of the holes. Key lithium intersections returned to date include: Reservatorio: 41m @ 1.21% Li2O from 159m in 23RESRC038; 40m @ 1.17% Li2O from 70m in 23RESRC045; NOA: 8m @ 1.34% Li2O from 21m in 23NOARC036; 7m @ 1.16% Li2O from 16m in 23NOARC037; 11m @ 1.22% Li2O from 13m in 23NOARC040; 13m @ 1.12% Li2O from 31m in 23NOARC041; 9m @ 1.18% Li2O from 0m in 23NOARC044. The drilling at Reservatorio targeted depth extensions of the pegmatite as defined in the resource estimation to confirm continuation of the lithium mineralisation, with significant intersection widths of 30 to 40m.

The indications are that the dip of the pegmatite is becoming shallower at depth, which would offer a more attractive target for further drilling. At NOA, the drilling has confirmed the continuity of mineralisation and shown that it is still extending at depth and continues along strike to the northwest on the Mining Lease area, which will be a target for follow up at a later stage. At Pinheiro, 6 RC holes were completed on the western pegmatite to infill the previous drilling and to assess the northern continuation of the pegmatite.

The topography limited the location of drill pads meaning several of the holes had to be drilled towards the west following the dip of the pegmatite and not towards the east to intersect the mineralisation. Results are still pending for this drilling.