Saville Announces Asset Acquisition
1450, 789 West Pender Street
Vancouver, BC V6C 1H2
t. 604 681 1568
www.savilleres.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
SAVILLE ANNOUNCES ASSET ACQUISITION
VANCOUVER, B.C., June 21, 2024 – Saville Resources Inc. (TSXV: SRE, FSE: S0J) (the “Company”) is pleased to announce
that it has entered into a securities exchange agreement (the “ Securities Exchange Agreement”) dated June 21, 2024
with 1398827 B.C. Ltd., (“ PrivCo”) and the securityholders of PrivCo to acquire all of the issued and outstanding
securities of PrivCo in exchange for common shares of the Company (the “ Common Shares”) issued on a one -for-one
basis (the “Transaction”).
The Company intends to assume the exploration of PrivCo’s flagship mineral resource asset, the Hornby Property (the
“Property”) located in Nunavut Territory, Canada following the closing of the Transaction.
About PrivCo and the Hornby Property
PrivCo is a private company incorporated pursuant to the laws of British Columbia and headquartered in Vancouver,
British Columbia.
The Property is located in the Hornby Basin, Nunavut Territory with mineral licences located directly adjacent to
IsoEnergy’s Mountain Lake Deposit that contains a historical mineral resource of 1.6M Tonnes of 0.23% U 3O8 (8.2Mlbs
of Uranium) ( “Mountain Lake Property Nunavut" dated February 15, 2005 reported by Triex Mineral Corporation) . The
Property is large, consisting of 51 mineral licences, encompassing a total land area of ~72,048ha (~72km 2).
Transaction Terms
Pursuant to the Securities Exchange Agreement, the Company has agreed to issue 5, 400,000 Common Shares to the
shareholders of PrivCo on closing. In addition, the 2,700,000 outstanding warrants of PrivCo, which are exercisable at
$0.075 until May 27, 2025, and 400,000 options of PrivCo exercisable at a price of $0.20 until June 1, 2026 will be
replaced by warrants and options (respectively) of the Company on the same terms.
Upon closing of the Transaction, PrivCo will become a wholly-owned subsidiary of the Company. The Company will add
the Property to its existing Property portfolio, and further assess the exploration and development potential thereof.
Following the closing of the Transaction, the Company may also target other mineral exploration opportunities if it
determines such targets have sufficient geological or economic merit and if the Company has adequate financial
resources to complete such acquisitions.
Closing of the Transaction is subject to the satisfaction of customary closing conditions, including TSXV acceptance, as
well as applicable board approvals.
On behalf of the Board of Directors
SAVILLE RESOURCES INC.
“Mike Hodge”
Mike Hodge, President
Tel: 604.681.1568
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Neither the TSX Venture Exchange nor its Regulation Service 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 does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended
(the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to a U.S.
person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking
statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. Al l
statements other than statements of historical fact, included in this news release are forward -looking statements that
involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results
and future events c ould differ materially from those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company’s expectations include but are not limited to market conditions and
the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned
that assumptions used in the preparation of any forward -looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ mate rially from those predicted, as a result of numerous known and
unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is
cautioned not to place undue reliance on any forward -looking information, inc luding, but not limited to, statements
regarding the Transaction, including the closing of the Transaction, the Company’s anticipated business and operational
activities following the closing of the Transaction, the anticipated satisfaction of closing cond itions and receipt of
regulatory approvals for the Transaction, the prospects of the Property, and the Company’s plans with respect to the
exploration of the Property. Factors that could cause actual results to vary from forward-looking statements or may affect
the operations, performance, development and results of the Company’s business include, among other things, the ability
of the parties to satisfy the conditions to closing of the Transaction in a timely manner (or at all); the Company’s receipt of
all regulatory approvals necessary to complete the Transaction in a timely manner (or at all); the risk that the Transaction
is not completed; the risk that the Transaction does not result in the anticipated benefits to the Company, including that
the Company is unable or determines not to carry out exploration or development work on the Property ; the Company's
ability to generate sufficient cash flow to meet its current and future obligations; that mineral exploration is inherently
uncertain and may be unsuccessful in achieving the desired results; that mineral exploration plans may change and be re -
defined based on a number of factors, many of which are outside of the Company’s control; the Company's ability to access
sources of debt and equity capital; competitive factors, pricing pressures and supply and demand in the Company’s industry;
and general economic and business. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results m ay differ materially from those anticipated. Forward -looking
statements contained in this news release are expressly qualified by this cautionary statement. The forward -looking
statements contained in this news release are made as of the date of this news release and the Company will update or
revise publicly any of the included forward-looking statements as expressly required by applicable law.