Saville Resources Extends Earn-In Agreement with Commerce Resources for the Niobium Claim Group Property, Quebec
1450, 789 West Pender Street
Vancouver, BC V6C 1H2
t. 604 681 1568
www.savilleres.com
Saville Resources Extends Earn-In Agreement with Commerce Resources for
the Niobium Claim Group Property, Quebec
February 14 , 2023 – Saville Resources Inc. (TSXv: SRE, FSE: S0J) (the “Compan y” or
“Saville”) is pleased to announce the extension of the earn -in agreement with Commerce
Resources Corp.’s ( TSXv: CCE, FSE: D7H0, OTCQX: CMRZF ) (“ Commerce Resources”) for
exploration of the Niobium Claim Group Property (the “Property”), a subset of the Commerce
Resources’ Eldor claims, located in northern Quebec. The agreement will be extended, with
similar terms as originally agreed upon in January 2018 (see news release dated January
11th, 2018), for one additional year, until January 2024.
Saville Resources President and CEO Mike Hodge states “We are excited to have this extension
to our Earn -in in place as we continue to explore and delineate the Mallard and Miranna
prospects at the Property. Our exploration since acquiring the option has resulted in the best
niobium drill intersections to date at Mallard and has confirmed high-grade niobium at depth
in the first drill holes to test the Miranna Prospect. We are very excited to follow -up with
additional drilling at these two prospects in the coming year ahead.”
The Niobium Claim Group Property consists of 26 contiguous mineral claims, encompassing
an area of approximately 1,223 hectares, and is considered prospective for niobium,
tantalum, phosphate, and fluorspar. The Property includes the Miranna Target, where 5.9%
Nb2O5 and 1,220 ppm Ta2O5 has been returned in boulder sampling and 0.72% Nb2O5 over
20.4 m, including 1.20% Nb2O5 over 3.1 m (EC21 -180), has been returned in initial drill
testing. Additionally, the Property hosts the more advanced Mallard Prospect where drilling
has returned wide intercepts of mineralization, including 1.00% Nb 2O5 over 17.1 m, within
a larger interval of 0.82% Nb2O5 over 42.3 m (EC21-175)
1450, 789 West Pender Street
Vancouver, BC V6C 1H2
t. 604 681 1568
www.savilleres.com
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the
Ordre des Géologues du Québec and ‘Qualified Person’ as defined in National Instrument 43-101
– Standards of Disclosure for Mineral Projects , supervised the preparation of the technical
information in this news release.
About Saville Resources Inc.
The Company’s principal asset is the Niobium Claim Group Property, situated within the
central Labrador Trough, Quebec, and currently under Earn -In Agreement from Commerce
Resources Corp. for up to a 75% interest. The Property consists of 26 contiguous min eral
claims, encompassing an area of approximately 1,223 hectares, and is considered
prospective for niobium, tantalum, phosphate, and fluorspar. The Property includes the
Miranna Target, where prior boulder sampling in the area has returned 5.9% Nb 2O5 and
1,220 ppm Ta 2O5, as well as the Mallard Prospect where drilling has returned wide
intercepts of mineralization, including 1.00% Nb2O5 over 17.1 m, within a larger interval of
0.82% Nb2O5 over 42.3 m (EC21-175).
On Behalf of the Board of Directors
SAVILLE RESOURCES INC.
“Mike Hodge”
Mike Hodge
President
Tel: 604.681.1568
Neither 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.
Forward Looking Statements
This news release contains forward -looking statements, which includes any information
about activities, events or developments that the Company believes, expects or anticipates
will or may occur in the future. Forward looking statements in this news release include the
extension of the exploration earn-in agreement and that we anticipate Saville will undertake
a drilling exploration program on the Niobium Claim group property; that Ashram has the
1450, 789 West Pender Street
Vancouver, BC V6C 1H2
t. 604 681 1568
www.savilleres.com
potential to become a long -term supplier to the met -spar and acid-spar markets; and that
the Company is positioning to be one of the lowest cost rare earth element producers
globally. These forward-looking statements are subject to a variety of risks and uncertainties
and other factors that could cause actual even ts or results to differ materially from those
projected in the forward -looking information. Risks that could change or prevent these
events, activities or developments from coming to fruition include: that Saville may not
undertake, or complete, any exploration work on the Niobium Claim group property; that we
may not be able to fully finance any additional exploration on the Ashram Project; that even
if we are able raise capital, costs for exploration activities may increase such that we may not
have sufficient funds to pay for such exploration or processing activities; the timing and
content of any future work programs; geological interpretations based on drilling that may
change with more detailed information; potential process methods and mineral recov eries
assumptions based on limited test work and by comparison to what are considered
analogous deposits that, with further test work, may not be comparable; testing of our
process may not prove successful or samples derived from the Ashram Project may not yield
positive results, and even if such tests are successful or initial sample results are positive,
the economic and other outcomes may not be as expected; the availability of labour and
equipment to undertake future exploration work and testing activit ies; geopolitical risks
which may result in market and economic instability; and despite the current expected
viability of the Ashram Project, conditions changing such that even if metals or minerals are
discovered on the Ashram Project, the project may not be commercially viable; The forward-
looking statements contained in this news release are made as of the date hereof and the
Company assumes no responsibility to update or revise such information to reflect new
events or circumstances, except as required by law.