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File: 20170203 Share Consolidation and Private Placement.doc

SAVANNAH GOLD CORP.

FOR IMMEDIATE RELEASE
Contact: Investor Relations February 10, 2017 Phone (604) 684-2181  info@varshneycapital.com

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. WIRE SERVICES

Savannah Gold Corp. Announces Share Consolidation and Private Placement 

Vancouver, BC - Friday, February 10, 2017 - Savannah Gold Corp. (TSXV - SAV.H) (the "Company" or "Savannah") announces
---> that the Company's Board of Directors has determined to consolidate the Company's issued share capital on a ratio of 
--->one (1) new post-consolidated common share for every five (5) old pre-consolidated common shares (the "Consolidation")
--->. The Company currently has 15,230,153 issued and outstanding common shares and on completion of the Consolidation the
--->re is expected to be 3,046,030 issued and outstanding common shares. Shareholder approval of the Consolidation is not 
--->required under the policies of the TSX Venture Exchange nor under corporate legislature governing the Company.
The Board of Directors determined the Consolidation was necessary in order for the Company to raise additional capital
---> and seek new business opportunities. Savannah is pleased to announce that it has negotiated, subject to regulatory ap
--->proval, a non-brokered private placement (the "Private Placement") for total gross proceeds of up to $255,000. The Pri
--->vate Placement will consist of up to 1,700,000 post Consolidation common shares at a price of $0.15 per post Consolida
--->tion common share. Proceeds of the Private Placement will be used to pay outstanding debt and for general working capi
--->tal.
On successful completion of the Consolidation and Private Placement, the Company expects to have 4,746,031 common shar
--->es issued and outstanding. The Company does not intend to change its name at this time.
The Consolidation and Private Placement are subject to the acceptance of the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

Praveen Varshney, FCPA, FCA
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.