REG - Savannah Resources - Acquisition of Aldeia Mining Lease - Update

Savannah ResourcesAnnouncement

19/12/2025 07:00

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RNS Number : 2004M  Savannah Resources PLC  19 December 2025

 

 

 

19 December 2025

 

Savannah Resources Plc

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

 

Acquisition of Aldeia Mining Lease - Update

Aldeia Mining Lease to be transferred to Savannah

 

Savannah Resources Plc, the developer of the Barroso Lithium Project in
Portugal (the 'Project'), a 'Strategic Project' under the European Critical
Raw Materials Act and Europe's largest spodumene lithium deposit is pleased to
confirm that the vendor, Aldeia & Irmão, S.A. has instructed the
Direção-Geral de Energia e Geologia ('DGEG', Directorate General for Energy
and Geology) to transfer the C-190 Mining Lease (the 'Aldeia Mining Lease' or
the 'Lease') to Savannah's sole ownership. This request follows the recent
completion of all the legal and financial processes associated with Savannah's
acquisition of the Lease (the 'Acquisition').

 

Emanuel Proença, Savannah's CEO said, "We are delighted to have reached the
final step in the Acquisition and transfer process with the Aldeia Mining
Lease, which will form an integral part of the Barroso Lithium Project in
years to come. This was one of the principal reasons for our recent
oversubscribed equity fundraising and it is very pleasing to have reached this
milestone before year end. We now look forward to the Portuguese State
officially transferring the Lease over to Savannah's ownership in due course."

 

Background Information

 

Aldeia Mining Lease

In December 2024, the C190 Mining Lease application was awarded over the 3
block 'Aldeia' Mining Lease Application area to the Portuguese company Aldeia
& Irmão, S.A. The Aldeia Mining Lease, which is adjacent to Savannah's
C-100 Lease has an initial duration of 25 years and can be extended twice,
initially by a further 15 years and then by a further 10 years.

 

Previous drilling by Savannah on Block A of the Lease has defined a JORC (2012
Compliant) Resource of 3.5Mt at 1.30% Li(2)O (45kt of contained Li(2)O)
including 1.6Mt at 1.31% Li(2)O in the Indicated category. The resource at
Aldeia Block A is located c.2km from the proposed processing plant on the
C-100 Mining Lease and, following the execution of a purchase option on the
Lease with its current owner in June 2019 (details of which are summarised in
the Company's RNS dated 26 June 2019), Block A was included in the 2023
Scoping Study on the Project.

 

At 1.3% Li(2)O, the deposit on Aldeia Block A, which remains open to further
extensions both laterally and at depth, has the highest lithia grade across
the two Mining Leases which is c.24% higher than the Project's global average
of 1.05% Li(2)O. Overall, Aldeia Block A currently accounts for c.11% of the
global JORC Resource (on a contained Li(2)O basis) at the Project. The Block
also features an additional Exploration Target of 2-4Mt at 1.0-1.3% Li(2)O and
further Exploration Targets exist on Block B (7-10Mt at 0.9-1.2% Li(2)O) and
Block C (2.0-4.0Mt at 1.1-1.5% Li(2)O) 1  (#_ftn1) .

 

Hence the Aldeia Mining Lease represents a high grade spodumene lithium
resource bearing tenement, with additional exploration upside which offers the
potential to significantly supplement the existing JORC resources on the C-100
Mining Lease. It is Savannah's intention to include the existing Indicated
Resource at Aldeia Block A in the upcoming DFS on the Project.

 

The Acquisition

Pursuant to the terms of the Acquisition, the purchase price for the Lease is
€3,250,000 with a balance of €2,950,000 due to DGEG following previous
option payments of €300,000. The balance will consist of first payment of
€55,000 upon the official transfer of the Lease from DGEG to Savannah, with
the balance due in 71 monthly instalments.

 

The Barroso Lithium Project featuring the C-100 (C-100 Extension) and Aldeia
Mining Leases:

 

 

 

Savannah - Enabling Europe's energy transition.

 

 

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").

 

**ENDS**

 

Follow @SavannahRes (https://x.com/savannahres) on X (Formerly known as
Twitter)

 

Follow Savannah Resources
(https://www.linkedin.com/company/savannah-resources-plc/) on LinkedIn

 

 

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

 

 Savannah Resources PLC                                                  Tel: +351 963 850 959

 Emanuel Proença, CEO

 SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker)       Tel: +44 20 3470 0470

 David Hignell/ Charlie Bouverat (Corporate Finance)

 Grant Barker/Abigail Wayne (Sales & Broking)

                                                                         Tel: +44 20 7523 8000

 Canaccord Genuity Limited (Joint Broker)

 James Asensio / Charlie Hammond (Corporate Broking)

 Ben Knott (Sales)

 Portugal Media Relations                                                Tel: +351 962 678 912

 António Neves Costa (Communications Manager)

 

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 AIM Market of the London Stock
Exchange and trades under the ticker "SAV".

 

 1  (#_ftnref1) Cautionary Statement: The potential quantity and grade of the
Additional Resource Targets is conceptual in nature, there has been
insufficient prospecting work to estimate a mineral resource and it is
uncertain if further prospecting will result in defining a mineral resource

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