Business
Acquisition of Aldeia Mining Lease - Update
Savannah Resources Plc has confirmed the final step in acquiring the Aldeia Mining Lease, with the vendor instructing the DGEG to transfer the C-190 Mining Lease to Savannah's sole ownership, which will be integrated into the Barroso Lithium Project. The acquisition price for the lease is €3,250,000, with a balance of €2,950,000 due to DGEG, consisting of an initial €55,000 payment upon transfer and the remainder in 71 monthly instalments. This lease contains a JORC resource of 3.5Mt at 1.30% Li₂O and includes additional exploration targets, significantly enhancing the project's overall resource. Disclaimer*
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\n \n \n \n19 December 2025\n \nSavannah Resources Plc\n(AIM: SAV) ('Savannah', or the 'Company')\n \nAcquisition of Aldeia Mining Lease - Update\nAldeia Mining Lease to be transferred to Savannah\n \nSavannah 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').\n \nEmanuel 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.\"\n \nBackground Information\n \nAldeia Mining Lease\nIn 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.\n \nPrevious drilling by Savannah on Block A of the Lease has defined a JORC (2012 Compliant) Resource of 3.5Mt at 1.30% Li2O (45kt of contained Li2O) including 1.6Mt at 1.31% Li2O 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 20...