Saville Resources Inc. Announces Completion of PrivCo Acquisition

Saville Resources Inc. (TSXV:SRE) has received TSX Venture Exchange approval for its acquisition of 1398827 B.C. Ltd. ("PrivCo"), closing the transaction on July 16, 2024. The acquisition involves a securities exchange agreement dated June 21, 2024. The transaction allows Saville to acquire all of PrivCo's issued and outstanding securities on a one-for-one basis.

With the transaction completed, Saville will take over the exploration of PrivCo's Hornby Property in Nunavut, Canada. The property is strategically adjacent to IsoEnergy's Mountain Lake Deposit, which has a historical resource estimate of 1.6 million tonnes of uranium.

According to the terms, Saville issued 5.1 million common shares to PrivCo shareholders. The 2.55 million outstanding PrivCo warrants and 400,000 options were replaced with Saville's warrants and options under similar terms. As a result, PrivCo has become a wholly-owned subsidiary of Saville Resources Inc.

Saville's portfolio now includes the Hornby Property, and they plan to explore its development potential further. Future acquisitions may also be considered if deemed economically and geologically viable.