7 May 2024
Savannah Resources
Plc
(AIM: SAV, FWB: SAV and SWB:
SAV) ('Savannah' or the 'Company')
The passing of former Chief
Executive Officer, David Archer
Savannah Resources Plc, the
developer of the Barroso Lithium Project (the 'Project') in
Portugal, Europe's largest spodumene lithium deposit, is saddened
to announce the, sudden and unexpected passing of former CEO, David
Archer.
Matthew King, Savannah's Chairman
said: "It is with great sadness that we report the death of David
Archer, our former CEO, and longstanding shareholder. David was our
CEO from 2013 to 2022. In particular, he was the driving force
behind Savannah's acquisition of the Barroso Lithium Project and
remained keenly interested in the Project after retiring from the
Company. All those who had the privilege to meet him will have
strong memories of his tremendous passion, foresight, and
ability.
"Our sincerest condolences to his
widow, Vicki, his children Emily, Venetia, and Paddy and all his
grandchildren."
**ENDS**
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For further information please
visit www.savannahresources.com
or contact:
Savannah Resources PLC
Emanuel Proença, CEO
|
Tel: +44 20 7117 2489
|
SP
Angel Corporate Finance LLP (Nominated Advisor & Joint
Broker)
David Hignell/ Charlie Bouverat
(Corporate Finance)
Grant Barker/Abigail Wayne (Sales
& Broking)
|
Tel: +44 20 3470 0470
|
SCP
Resource Finance (Joint Broker)
Filipe Martins/Chris
Tonkin
|
Tel: +44 204 548 1765
|
Camarco (Financial PR)
Gordon Poole/ Emily Hall / Fergus
Young
|
Tel: +44 20 3757 4980
|
LPM
(Portugal Media Relations)
Herminio Santos/ Jorge
Coelho
|
Tel: +351 218 508 110
|
About Savannah
Savannah Resources is a mineral
resource development company and the sole owner of the Barroso
Lithium Project in northern Portugal, the largest battery grade
spodumene lithium resource outlined to date in Europe.
Through the Barroso Lithium Project
(the 'Project'), Savannah will help Portugal to play an important
role in providing a long-term, locally sourced, lithium raw
material supply for Europe's rapidly developing lithium battery
value chain. After the Environmental Licence was granted in May
2023 and the Scoping Study confirmed the economic potential of the
Project in June 2023, production is now targeted and on track to
begin in 2026. At that stage, Savannah will start producing enough
lithium for approximately half a million vehicle battery packs per
year, equal to a significant portion of the European Commission's
Critical Raw Material Act goal of a minimum 10% of European
endogenous lithium production set for 2030. Savannah is focused on
the responsible development and operation of the Barroso Lithium
Project so that its impact on the environment is minimised and the
socio-economic benefits that it can bring to all its stakeholders
are maximised.
The Company is listed and regulated
on the London Stock Exchange's Alternative Investment Market (AIM)
and the Company's ordinary shares are also available on the
Quotation Board of the Frankfurt Stock Exchange (FWB) under the
symbol FWB: SAV, and the Börse Stuttgart (SWB) under the ticker
"SAV".