Received by email:

File: 20170306 Private Placement doc.doc

SAVANNAH GOLD CORP.

FOR IMMEDIATE RELEASE
Contact: Investor Relations March 15, 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 Non-Brokered Private Placement 

Vancouver, BC - Wednesday, March 15, 2017 - Savannah Gold Corp. (TSXV - SAV.H) (the "Company") announces that it has n
--->egotiated, subject to regulatory approval, a non-brokered private placement (the "Private Placement") for total gross 
--->proceeds of up to $550,000. The Private Placement will consist of up to 2,750,000 units of the Company (each a "Unit")
---> at a price of $0.20 per Unit. Each Unit will consist of one common share of the Company (a "Share") and one half Shar
--->e purchase warrant (each whole such warrant a "Warrant"). Each whole Warrant will entitle the holder thereof to acquir
--->e one Share at a price of $0.40 for a period of 24 months following closing of the Private Placement (the "Expiry Date
--->"), subject to acceleration. If at any time between the Expiry Date and the date that is six months and one day from t
--->he closing of the Private Placement, the closing price of the Shares on the TSX Venture Exchange (the "Exchange") is e
--->qual to or greater than $0.80 for 20 consecutive trading days, then the Company may, at is sole option, elect to provi
--->de notice (the "Acceleration Notice") to the holders of the Warrants, which Acceleration Notice may be provided by new
--->s release, that the Warrants will expire at 4:00 p.m. (Vancouver time) on the date that is 30 days from the date of th
--->e Acceleration Notice (the "Accelerated Expiry Date"). In such instance, all Warrants that are not exercised prior to 
--->the Accelerated Expiry Date will expire on the Accelerated Expiry Date. Proceeds of the Private Placement will be used
---> for general working capital and to review potential new business opportunities.
In connection with certain subscriptions under the Private Placement, the Company will pay or a cash commission of 7% 
--->and issue finder warrants equal to 7%, pursuant to and in accordance with applicable securities laws and Exchange poli
--->cy. The Private Placement is subject to the acceptance of the 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.