REG - Savannah Resources - Second temporary land access granted

Savannah ResourcesAnnouncement

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RNS Number : 2647D  Savannah Resources PLC  06 May 2026

 

 

 

06 May 2026

 

Savannah Resources Plc

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

 

Second temporary land access granted

 

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
announce that the process to grant the Company a second immediate temporary
access to land on the Project's C-100 Mining Lease which it does not already
own, has now been completed. This will allow Savannah to undertake
geotechnical fieldwork and drilling relevant to the Project's processing plant
and infrastructure.

 

Highlights:

·    Temporary land access granted: Following completion of this second
temporary land access process, the required notice has been published in the
Government's official gazette (Diário da República). Savannah now has the
right to access the land for a period of up to one year.

·    Next Steps:

o  The Company will contact all stakeholders and landowners with a view to
paying the compensation due, as well as continuing close contacts with the
relevant authorities to ensure a transparent and efficient process.

o  Initial work in the field will focus on the clearing and preparation of
the land with drill rigs to be mobilised as soon as practicable. Preparation
work can be undertaken swiftly as Savannah's team are already working in other
areas on the Project, clearing the ground as required ahead of the summer
forest fire season.

o  The resumption of fieldwork also supports the process of hiring new
support staff and contracting additional local services.

 

Emanuel Proenca, Chief Executive Officer of Savannah commented, "This second
temporary land access approval represents another important step forward for
the Project. In addition, it further demonstrates the importance the
Portuguese State places on progressing this Project towards production
following the non-reimbursable grant for up to €110 million, which was
awarded to the Project in January.

 

"As with our previous field campaigns, our technical and community teams will
now move quickly and comprehensively to ensure we complete this programme as
soon as we can.

 

"2026 is very important for us and for everyone involved in the Project as we
continue to make good progress with the DFS and other workstreams and move
closer to fulfilling our goal of becoming a responsible lithium producer for
the European market. I look forward to providing our shareholders and
stakeholders with further Project updates in the coming weeks."

 

Additional Information

The relevant entry in Government's official gazette (Diário da República)
can be found here:

https://diariodarepublica.pt/dr/detalhe/despacho/5823-2026-1110001657

 

Given the legal objection which was made by the small group of local opponents
to the first temporary land access received on the Project (see 7 February
2025 RNS), a similar legal objection may be raised on this occasion. However,
Savannah is confident of its legal position following the firm support
received from the State after that previous objection (see 21 February 2025
RNS) and the series of other favourable rulings made in the Portuguese courts
in relation to the Project (see 21 October 2025 RNS).

 

Regulatory Information

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
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:

 

 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 / Rory Blundell / 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 and was approved
for a Portuguese State development Grant of up to €110m in January 2026.

 

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".

 

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