Savannah Gold Corp. Announces Non-Brokered Private Placement

FOR IMMEDIATE RELEASE

Contact: Investor Relations March 15, 2017 Phone (604) 684-2181 [email protected]

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Savannah Gold Corp. Announces Non-Brokered Private Placement

Vancouver, BC – Wednesday, March 15, 2017 – Savannah Gold Corp. (TSXV – SAV.H) (the “Company”) announces that it has negotiated, subject to regulatory approval, a nonbrokered private placement (the “Private Placement”) for total gross proceeds of up to $550,000. The Private Placement will consist of up to 2,750,000 units of the Company (each a “Unit”) at a price of $0.20 per Unit. Each Unit will consist of one common share of the Company (a “Share”) and one half Share purchase warrant (each whole such warrant a “Warrant”). Each whole Warrant will entitle the holder thereof to acquire one Share at a price of $0.40 for a period of 24 months following closing of the Private Placement (the “Expiry Date”), subject to acceleration. If at any time between the Expiry Date and the date that is six months and one day from the closing of the Private Placement, the closing price of the Shares on the TSX Venture Exchange (the “Exchange”) is equal to or greater than $0.80 for 20 consecutive trading days, then the Company may, at is sole option, elect to provide notice (the “Acceleration Notice”) to the holders of the Warrants, which Acceleration Notice may be provided by news release, that the Warrants will expire at 4:00 p.m. (Vancouver time) on the date that is 30 days from the date of the Acceleration Notice (the “Accelerated Expiry Date”). In such instance, all Warrants that are not exercised prior to the Accelerated Expiry Date will expire on the Accelerated Expiry Date. Proceeds of the Private Placement will be used for general working capital and to review potential new business opportunities.

In connection with certain subscriptions under the Private Placement, the Company will pay or a cash commission of 7% and issue finder warrants equal to 7%, pursuant to and in accordance with applicable securities laws and Exchange policy. The Private Placement is subject to the acceptance of the Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

Praveen Varshney, FCPA, FCA President & CEO

Neither the 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.