Completion of Geotechnical Works
Summary by AI BETAClose X
29 October 2026
Savannah Resources Plc
(AIM: SAV) (‘Savannah’, or the ‘Company’)
Savannah Completes Geotechnical Works at the Eastern Block of the Barroso Lithium Project
Five-month programme comprised 276 investigation points and 189 test pits, with over €500,000 spent on direct services in the local economy
Savannah Resources Plc, the developer of the Barroso Lithium Project in Portugal, a ‘Strategic Project’ under the European Critical Raw Materials Act and Europe's largest spodumene lithium deposit (the “Project”) is very pleased to report that it has completed the planned geotechnical and hydrogeological investigation works at the Project’s Eastern Block, the area where Project activities will be focused during the first eight years of operations. The approximately five-month programme provided detailed technical information on ground conditions and the hydrogeological characteristics of the area, supporting ongoing engineering work and the preparation of the Project’s future infrastructure.
The programme comprised 276 investigation points, including 189 test pits, generating hundreds of samples which were submitted for geotechnical testing at certified laboratories. The work also included 32 boreholes for the installation of piezometers, which will enable groundwater levels to be measured and monitored, and 30 geotechnical boreholes, which provided samples to characterise foundation conditions for the planned facilities and assess the suitability of materials for use in earthworks.
The programme involved approximately 30 external personnel, in addition to more than 40 of Savannah´s employees. In addition, several Portuguese companies were involved. A local contractor carried out vegetation clearance and earthworks, a regional company provided occupational safety services, and two national companies provided specialist geological and geotechnical drilling services, coupled with professional security services for equipment and personnel. The Company estimates that more than €500,000 was invested in direct services within the local economy during the programme.
Commenting on the conclusion of the geotechnical campaign, Savannah’s Chief Executive Officer, Emanuel Proença said, “The completion of this programme represents a further step in the development of the Barroso Lithium Project. Over the five-month period, Savannah and its local, regional and national contractors collected technical information that will support the next phase of the Project’s development. The benefits of the Project to the local economy are becoming increasingly visible, which contributes to a greater understanding and acceptance of the Project at local level.
“Other priorities being worked on by the technical team are the RECAPE submission which is expected to take place next week, and the FEED activity with Sedgman. On other fronts, the team continues to make good progress on key financial and commercial relationships, and there is increased focus on team expansion ahead of construction. We expect all these workstreams to progress significantly before the end of the year."
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**
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For further information please visit www.savannahresources.com or contact:
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Savannah Resources PLC Emanuel Proença, CEO Asa Bridle, Investor Relations António Neves Costa, Media Relations
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Tel: +351 963 850 959 Tel: +44 207 117 2489 Tel: +351 962 678 912
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SP Angel Corporate Finance LLP (Nominated Adviser & Joint Broker) David Hignell / Charlie Bouverat (Corporate Finance) Grant Barker /Abigail Wayne (Sales & Broking)
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Tel: +44 20 3470 0470
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Canaccord Genuity Limited (Joint Broker) James Asensio / Rory Blundell / Charlie Hammond (Corporate Broking) Ben Knott (Sales)
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Tel: +44 20 7523 8000
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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.183,000tpa 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".
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