Final Assays for Updated Resource Estimates

21 August 2025                                                                           

Savannah Resources Plc

(AIM: SAV) ('Savannah', or the 'Company')

Final batch of assays for updated resource estimates return more positive results

Savannah Resources Plc, the developer of the Barroso Lithium Project (the 'Project') in Portugal, a 'Strategic Project' under the European Critical Raw Materials Act and Europe's largest spodumene lithium deposit, is pleased to announce the fourth batch of assay results from Phase 2 of its Definitive Feasibility Study ('DFS') drilling programme at the Project. These assays are the final batch from the resource-focused part of the campaign which Savannah successfully completed ahead of schedule in July, and which included drilling on land which Savannah accessed under a temporary land easement provided by the Portuguese Government.

With all assay data now entered in the Project's geological model, Savannah and its independent consultants can complete work on a new JORC (2012) compliant Resource estimate for the Project, which the Company expects to publish in September. Based on the design of the completed drilling and the assay results recorded, Savannah expects the new resource will represent both an upgrade and expansion on the Project's current resource of 28Mt at 1.05% Li₂O of which c.66% of the ore and contained Li₂O are classified in the higher Measured and Indicated JORC categories. This new estimate will form the basis for the Project's maiden JORC Reserve estimate which will underpin the DFS mine plan and support the future financing of the Project (See the Further Information section for background on the JORC Code classification system).

Highlights

·    The resource-focused stage of the Phase 2 drill programme for the DFS is now complete. The programme was designed to upgrade more of the existing JORC Resources at the Pinheiro, Reservatório and Grandão deposits to the higher confidence JORC Resource categories (Measured & Indicated) ahead of the maiden JORC Reserve estimate for the Project.

·    A total of 103 holes have been drilled to date for c. 12,490m, consisting of 83 Reverse Circulation (RC) holes, including 28 completed with diamond drill tails, and a further 20 additional diamond drill holes.

·    This fourth batch of assays comes from the last 23 holes drilled (9 at Pinheiro, 8 at Reservatório and 6 at Grandão) and contains further significant lithium assays which build on the impressive results previously reported from the first three batches. As a result of the assays recorded in the programme, tonnage increases are likely at the Reservatório and Pinheiro orebodies amongst the wider upgrade of the existing resource.

·   At Pinheiro, we continue to intersect high grade lithium mineralisation within a core zone of the Western Pegmatite, while results from the Eastern Pegmatite further extend the mineralisation to the north. New intersections include:

o  67m @1.82% Li₂O from 56m in hole 25PNRDD021

o  32m @1.66% Li₂O from 27m in hole 25PNRRC036

o  24m @1.4% Li₂O from 111m in hole 25PNRRC039

o  28m @1.13% Li₂O from 32m in hole 25PNRRC040

o  23.8m @1.1% Li₂O from 148.2m in hole 25PNRDD018

·    At Reservatório, results continue to show the continuity of mineralisation at depth beyond the current limits of the designed open pit, highlighting future potential especially to the northeast. Better intersections include:

o  32m @1.49% Li₂O from 67m in hole 25RESRC087

o  25m @1.11% Li₂O from 75m in hole 25RESRC088

o  23.31m @1.29% Li₂O from 64m in hole 25RESRC086 and 11.74m @1.24% Li₂O from 106.74m

o  23m @1.11% Li₂O from 133m in hole 25RESRC073

o  14m @1.17% Li₂O from 81m in hole 25RESRC085 and 9m @1.01% Li₂O from 109m

·    The drilling at Grandão was designed to infill previous drilling and confirms strong continuity in the mineralisation between holes, which the Company believe is indicative of the deposit as a whole. Latest results include:

o  19m @1.29% Li₂O from 92m in hole 25GRARC153 and 13.8m @1.41% Li₂O from 139.2m

o  17.68m @1.42% Li₂O from 104.05m in hole 25GRARC152 and 12.64m @1.12% Li₂O from 140.36m and 9m @1.53% Li₂O from 156m

o  4m @1.07% Li₂O from 111m in hole 25GRARC149 and 9m @1.53% Li₂O from 123m

·    New JORC (2012) compliant Exploration Targets: In addition to the new resource estimates, updated Exploration Targets as defined under the JORC Code ('Exploration Targets') will be produced for all the orebodies at the Project as well as a first Exploration Target for the remainder of the C-100 Mining Lease.

Savannah's Technical Director, Dale Ferguson said, "We are particularly encouraged by this latest batch of results which continue to confirm the grade and consistency of the lithium mineralisation in all the deposits. We now turn our attention to updating the JORC Resource estimates for these important orebodies and the existing additional Exploration Targets for the Grandão,  Reservatório and Aldeia deposits. To this we will be adding maiden Exploration Target estimates for Pinheiro and NOA as well as a first regional Exploration Target to help show the true potential of the Project area.

"As previously flagged, based on the assays we've received from this drilling campaign, we continue to expect growth in the JORC Resources of Pinheiro and Reservatório and the team and I are looking forward to presenting all the new estimates once finalised. While the updated JORC Resources will enable us to push forward with the DFS with confidence, the additional Exploration Targets, including the new regional Exploration Target we are planning, should reinforce the market's understanding that this Project has great long-term potential too."

Further Information

Savannah has now completed the resource-focused stage of the Phase 2 drilling, with all assay results from the sampling now received. The drilling campaign was designed to ensure that all resources which potentially fall into the initial mine plan can be classified to at least the JORC Indicated level of confidence as this will allow their conversion into JORC Reserves for the DFS. The drilling was carried out with up to six rigs on site at various times, consisting of 3 RC rigs and 3 diamond drill rigs. A total of 12,490m was drilled over 103 holes which consisted of 83 RC holes, with 28 of them having diamond tails completed to achieve the target depth, and a further 20 diamond drill holes, of which 11 were for geotechnical purposes.

All holes have been logged and recorded in the Company's database and the next stage is the calculation of the upgraded resources, which is expected to be completed in the coming weeks. The results of the drilling have cemented our confidence in the continuity of the lithium mineralisation within all of the orebodies and the programme has again highlighted the region as a world class lithium province with many known outcropping pegmatites remaining unexplored within Savannah's licence area.

All of the deposits show continuing lithium mineralisation at depth beyond the limits of the proposed mining pits defined in the 2023 Scoping Study, which indicates further potential for the future. Furthermore, at Pinheiro three main pegmatite bodies are now recognised with further potential to increase mineralisation along strike in two of them and at Reservatório the northeast extension of the pegmatite remains open and will be followed up with further drilling at a later stage. Grandão is Savannah's largest deposit and is relatively well constrained from previous drilling. Hence, the recent programme was designed to infill areas where the drilling was not at the required density to be able to estimate the JORC Resources to an Indicated level of confidence. Meanwhile, at Reservatório the drilling focused on the down dip extension of the pegmatite to confirm the continuity of mineralisation and to test the extent of the pegmatite in an area beyond the C-100 boundary, where Savannah has an application pending for an extension of the licence.

Figure 1. Barroso Lithium Project summary map showing deposits and drill hole locations.

Pinheiro

The current JORC Resource estimate for the Pinheiro deposit (all Inferred as at May 2024) is 2.0Mt at 1.0% Li₂O. Savannah is confident that this latest phase of drilling is likely to significantly increase the size and grade of the resource by outlining mineralised extensions of the Western Pegmatite to the south, and northern extensions to the Eastern Pegmatite. The Company expects that an increase in grade is also likely.

The highlight of the recent results has been a 67m intersection of mineralised pegmatite grading at 1.82% Li₂O from hole 25PNRDD021, which was targeted to sit beneath the Scoping Study pit outline and was drilled slightly obliquely to the dip of the pegmatite (see Figures 2 and 3). The better recent results at Pinheiro are as follows:

o  67m @1.82% Li₂O from 56m in hole 25PNRDD021

o  32m @1.66% Li₂O from 27m in hole 25PNRRC036

o  24m @1.4% Li₂O from 111m in hole 25PNRRC039

o  28m @1.13% Li₂O from 32m in hole 25PNRRC040

o  23.8m @1.1% Li₂O from 148.2m in hole 25PNRDD018

Figure 2. Location of Phase 2 drilling at Pinheiro with recent and selected significant intercepts to date.

Figure 3. Cross section through the Eastern and Western Pegmatites of the Pinheiro deposit (Section A-A').

Reservatório

The current JORC Resource estimate for the Reservatório deposit (Indicated & Inferred as at May 2024) is 4.2Mt at 0.9% Li₂O.

The current batch of results received for Reservatório further highlighted the continuation of lithium mineralisation at depth especially extending into the area where Savannah currently has an application to expand the C-100 Mining Licence boundary. The latest intersections outline the more complex morphology of the pegmatite body than was originally interpreted and indications are that the dip of the pegmatite is becoming shallower at depth, increasing its minable potential.

The recent batch of assays continue to highlight the strong consistency of the lithium mineralisation within the pegmatite at Reservatório and give a better understanding of the grade variations that are inherent in pegmatites due to textural and mineralogical changes.

Significant mineralised intersections from this batch of assays at Reservatório include:

o  32m @1.49% Li₂O from 67m in hole 25RESRC087

o  25m @1.11% Li₂O from 75m in hole 25RESRC088

o  23.31m @1.29% Li₂O from 64m in hole 25RESRC086 and 11.74m @1.24% Li₂O from 106.74m

o  23m @1.11% Li₂O from 133m in hole 25RESRC073

o  14m @1.17% Li₂O from 81m in hole 25RESRC085 and 9m @1.01% Li₂O from 109m

Figure 4. Location of Phase 2 drilling at Reservatório with significant intercepts from assays results.

Figure 5. Cross section through the Reservatório deposit (Section A - A').

Grandão

The current JORC Resource estimate for the Grandão deposit (Measured, Indicated & Inferred as at May 2024) is 17.7Mt at 1.04% Li₂O.

At Grandão the infill drilling of areas of the resource is complete, enabling Savannah to upgrade the JORC category in the potentially mineable portion of the pegmatite to a minimum Indicated level. The drilling of the southern extent of the pegmatite was also completed.

The results confirmed the excellent robustness of the lithium mineralisation at depth, especially in the western portion of the deposit, with grades seen to increase with depth. Pleasingly, the drilling also highlighted the occurrence of a smaller parallel pegmatite beneath the main orebody.

Significant mineralised intersections at Grandão in this set of assays include:

o  19m @1.29% Li₂O from 92m in hole 25GRARC153 and 13.8m @1.41% Li₂O from 139.2m.

o  17.68m @1.42% Li₂O from 104.05m in hole 25GRARC152 and 12.64m @1.12% Li₂O from 140.36m and 9m @1.53% Li₂O from 156m.

o  4m @1.07% Li₂O from 111m in hole 25GRARC149 and 9m @1.53% Li₂O from 123m.

Figure 6. Location of Phase 2 drilling at Grandão with significant intercepts from assays results.

Figure 7. Cross section through the Grandão deposit (Section A - A')

Sample collection for metallurgical testwork

In conjunction with resource drilling, diamond drilling for metallurgical samples was also carried out and in conjunction with Savannah's metallurgical consultants, specific samples have been selected and sent for metallurgical testing.

Next steps

The resource-focused stage of the Phase 2 drilling is now complete and the results from this will feed into upgrading the confidence level of the existing JORC resource estimates for each deposit and potentially increasing the overall resource tonnage at certain deposits. Updated or maiden Exploration Targets will also be produced in the coming weeks for each deposit as well as a first regional Exploration Target for the remainder of the C-100 Mining Licence.

Away from the resource-related work, metallurgical testwork will be conducted on the samples sent to our consultants and the resulting data used in the DFS, while the geotechnical data collected from each deposit will aid in the design of the various mining pits to ensure maximum extraction of ore under safe and sustainable conditions.

Background on the JORC Code

The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ('the JORC Code') is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves.

The JORC Code provides a mandatory system for the classification of minerals Exploration Results, Mineral Resources and Ore Reserves according to the levels of confidence in geological knowledge and technical and economic considerations in Public Reports.

Public Reports prepared in accordance with the JORC Code are reports prepared for the purpose of informing investors or potential investors and their advisors.

The JORC Code was first published in 1989, with the most recent revision being published late in 2012.

JORC Code Definitions

Figure 8. The JORC Classification Framework

Source: JORC Code

Competent Person and Regulatory Information

The information in this announcement that relates to exploration results is based upon information compiled by Mr Dale Ferguson, Technical Director of Savannah Resources Limited. Mr Ferguson is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Ferguson consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

Regulatory Information

This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

Savannah - Enabling Europe's energy transition.

**ENDS**

Follow @SavannahRes on X (Formerly known as Twitter)

Follow Savannah Resources on LinkedIn

For further information please visit www.savannahresources.com or contact:

About Savannah

Savannah Resources is a mineral resource development company and the sole owner of the Barroso Lithium Project (the 'Project') in northern Portugal. The Project is the largest battery grade spodumene lithium resource outlined to date in Europe and was classified as a 'Strategic Project' by the European Commission under the Critical Raw Materials Act in March 2025.

Through 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 lithium battery value chain. Once in operation the Project will produce enough lithium (contained in c.190,000tpa of spodumene concentrate) for approximately half a million vehicle battery packs per year and hence make a significant contribution towards the European Commission's Critical Raw Material Act goal of a minimum 10% of European endogenous lithium production from 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 trades under the ticker "SAV".

APPENDIX 1: Drill hole locations of Completed Phase 2 RC and Diamond Resource Holes             (* with assays)

 APPENDIX 2 - Summary of Significant Intercepts from the diamond drilling using a 0.5% Li₂O Cutoff.

* Results from completed diamond tail

APPENDIX 3 - JORC 2012 Table 1 - DFS Infill Drilling

JORC Table 1 Section 1 Sampling Techniques and Data

JORC Table 1 Section 2 Reporting of Exploration Results