Saville Announces Uranium Asset Acquisition IN Hornby Basin, Nunavut Territory
1450, 789 West Pender Street
Vancouver, BC V6C 1H2
t. 604 681 1568
www.savilleres.com
SAVILLE ANNOUNCES URANIUM ASSET ACQUISITION IN HORNBY BASIN, NUNAVUT TERRITORY
VANCOUVER, B.C. , August 16 , 202 4 – Saville Resources Inc. (TSX V: SRE, FSE: S0J) (the “ Company”) is pleased to
announce that it has entered into an agreement (the “Agreement”) with 2362516 Ontario Inc. (“PrivCo”) to acquire six
mineral leases (the “Leases”) in the Hornby Basin, Nunavut Territory (the “Transaction”).
About PrivCo and the Property
PrivCo is a private company incorporated pursuant to the laws of Ontario and headquartered in Toronto, Ontario.
The property is located in the Hornby Basin, Nunavut Territory and is comprised of 6 mineral leases comprising a total
land area of approximately 6,201 ha (~62 k m2). Between 1996 and 2004 the leases were part of a land package
controlled by Hornby Bay Exploration Ltd, which spent approximately $10 million on exploration and completed a
technical report in 2004.
Transaction Terms
Pursuant to the Agreement, the Company has agreed to issue 12,500,000 Common Shares to a syndicate of vendors led
by PrivCo in consideration of the acquisition of a 100% legal and beneficial interest in the Leases .
Upon closing of the Transaction, the Company will add the Leases 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.
“Rob Leckie”
Rob Leckie, CEO
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 ec onomic and business. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward -looking
statements contained in this news rel ease 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.