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Savoy Resources (SVYR)

Website: http://www.savoyresources.com

'Savoy Resources has access to potential reserves worth more than $30 Billion US according to their joint venture partner, The First Geological Institute of Heilongjiang Province in China. Savoy also has access to more than 50 years of geological data complied by the institute.'

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Media Article: The Race For China's Gold... Savoy's agreement, while the first joint venture entered into by the Heilongjiang Geology and Mineral Development Bureau, is similar to Leyshon Resources but the Denver-based company beat out ASX: LRL in inking the deal first, giving the junior mining newcomer a jump start in the China gold feeding frenzy by foreign mining corporations.

SVYR Investor Highlights

• To the Company's knowledge, Savoy Resources is the first foreign exploration company to sign a comprehensive joint venture agreement in Heilongjiang Province.
• The First Geological Institute of Heilongjiang Province (FGI) has discovered 120 deposits with 48 types of minerals since its establishment.
• The First Geological Institute of Heilongjiang Province has completed over 1000 geological reports with potential value of those potential reserves worth more than $30 billion US.
• To assist the Company in evaluating the substantial documentation available, Savoy has retained Archer, Cathro & Associates, one of the foremost geological consulting firms in the world.
• With the finalization of the joint venture agreement with FGI, Savoy will be one of the most active mineral exploration companies in northern China.

Overview

Savoy Resources Corp. is a gold, mineral, and gemstone exploration and mining company developing joint venture gold mining operations in Heilongjiang province in northeastern China and gemstone mining and marketing operations in Madagascar.  

Profile

Savoy Capital Resources Corp is incorporated under the laws of the State of Colorado. In January of 2004, Floyd Wandler, was appointed to the Board of Directors as the new President and Savoy closed on an agreement to acquire a 97% interest in Societe Siranna S.A.R.L., a private Madagascar company. The acquisition of Siranna gives Savoy full mining exploitation and gemstone exportation permits for two gemstone mining properties totaling 12.5 square kilometers and allows Savoy to enter into the precious gemstone mining and marketing business. Savoy's mining properties are located in Northern Madagascar near the provincial capital of Diego Suarez.

At the end of the same month, based on numerous contacts and opportunities in China, Savoy signed a joint venture agreement informally called the "China Joint Venture." Fifty percent of the interest belongs to Savoy Resources, and the remaining 50% is shared equally by three other mining companies. Whether these companies will participate in each project with Savoy will depend on the main commodity in the prospect.

Representatives from the joint venture met with representatives of a variety of government organizations and private individuals in China and were given access to data concerning a range of mineral deposits. When negotiations with their prospective Chinese partners began, Savoy immediately assembled a team of bilingual geologists who worked under the direction of Archer, Cathro & Associates (1981) Limited, the consulting geologists to the joint venture, to review data concerning prospective targets. Costs of initial target identification and ground proofing will be shared 50% by Savoy and 50% by the other companies, depending on the targets.

During a subsequent visit to China in February, joint venture representatives signed a Memorandum of Understanding with FGI. Savoy retains a 70% interest in the partnership. The joint venture has first right of refusal on all mineral concession in Heilongjiang province. The joint venture and their chinese partners have fast tracked legal documentation to formalize the agreement and to satisfy Chinese business requirements. In addition to the Memorandum of Understanding, the Bureau has promised similar access to exploration data covering the remainder of the province, which is held by a second institute. FGI is a modern, highly skilled, senior government-owned geological institute. Together with its administrative organization, the Mineral Development Bureau, it employs over 13,000 staff. With the finalization of this agreement with FGI, Savoy will be one of the most active mineral exploration companies in northern China.

Savoy Resources Corp. will become a major mineral exploration company in the recently unrestricted Heilongjiang province of northeastern China. Heilongjiang, which covers an area of 469, 000sq. km (approximately the size of Spain), is the largest province in the north-east, has a well-developed infrastructure and encompasses a number of major belts, some of which extend into Mongolia and Russia.

China is the world's sixth largest producer of minerals and precious metals and the fourth largest producer of gold. Coal-bed methane deposits could very well exceed the value of all the gold found in the province. It is also one of the world's foremost importers of minerals and precious metals as its industries consume more metals and minerals than are domestically produced. Until recently, China's mining industry was a combination of state-owned corporations and small private or individual operators who often caused environmental damage.

Savoy Resources Corp. (Madagascar Division) is engaged in the acquisition, exploration and development of mining throughout the Republic of Madagascar. The Company's initial focus has been the acquisition and marketing of precious stones including sapphires, emeralds, and rubies, semi-precious stones and industrial minerals. Savoy Resources, through its Madagascar incorporated subsidiary, Soci?©t?© Siranna S.A.R.L., holds mining licenses at Madagascar's highest level, which grant the Company the right to mine, buy, sell, and export precious and semi-precious gemstones and minerals. As part of its business plan to build a substantial asset and revenue base, the Company is also examining opportunities to acquire additional Madagascar assets. These proposed acquisitions include mining properties and additional mining equipment.

Savoy Resources, through its subsidiary Soci?©t?© Siranna, owns two gemstone exploration properties totaling 12.5 square kilometers, in northern Madagascar. Ownership of the properties includes the right to explore and mine the properties and purchase, export and sell gemstones.

Savoy Resources Corp. announced on March 31st, 2004 the signing of a comprehensive and long-term Joint Venture Enterprise Agreement with the First Geological Exploration Institute of the Heilongjiang Geology and Mineral Development Bureau, China, for the purpose of exploring and developing the mineral resource base in Heilonjiang Province.

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