Energizer Resources Inc. Receives Final Drill Results For

Energizer Resources Inc. Receives Final Drill Results For Molo
TORONTO, ONTARIO -- (Marketwire) -- 11/01/12 -- Energizer Resources
Inc. (TSX:EGZ)(OTCBB:ENZR)(FRANKFURT:YE5) ("Energizer" or the
"Company") is pleased to announce it has received assay results for
the remaining 23 drill holes and 8 trenches from its National
Instrument (NI) 43-101 graphite resource drill program on the Molo
deposit. This data is now with Caracle Creek International Consulting
Inc. (Caracle Creek) of Johannesburg, South Africa, who will author a
NI 43-101 resource for the deposit. Energizer expects the NI 43-101
resource estimate by the end of November. 
DRA Mineral Projects will incorporate the NI 43-101 graphite resource
statement into the Preliminary Economic Assessment Report (PEA) it is
authouring for the Molo deposit. Energizer is targeting year-end for
the receipt of the PEA study. 
The Molo deposit is located in the Green Giant Graphite project, and
is part of the joint venture (JV) property with Malagasy Minerals
Limited in Madagascar. Energizer has a 75% ownership interest and is
the operator of the project.  
Project Developing Rapidly 
In order to expedite a feasibility study, the Company will initiate
pilot plant test work in South Africa at Mintek, South Africa's
national minerals research organization. To maximize the potential of
the Molo deposit, the Company will follow the PEA study with a
feasibility study. The results of this work will guide the
construction of a mobile pilot plant facility for on-site test work
analysis of the Molo deposit. This will 'de-risk' the project, as
well as provide suitable quantities of sample material for potential
off-take partners. 
Craig Scherba, President and COO of Energizer commenting "It was in
December 2011 that we identified graphite as a potential 'mineral of
interest' on the Green Giant property. Within one year of this time,
the Company is now poised to release a NI 43-101 resource statement
identifying what looks to be the largest known graphite deposit in
the world. The release of this study, followed shortly thereafter
with the release of the PEA report, should establish Energizer as a
significant player in the graphite space and provide the catalyst for
the Company to evolve from mineral exploration into resource
Assay Results Validate Deposit Size Potential 
The Company has received assay results from its remaining 23 diamond
drill holes and 8 trenches. With these results, the Company believes
it has validated a potential deposit size of 80 to 120 million
tonnes. As well, the assays have outlined an average grade of between
5 and 8% carbon( C ), with a higher grade zone between 8 and 10% C
flanking the deposit on its western edge. This zone is between 20 and
60 metres in true thickness, extends for a strike length of at least
1200 metres, and is open at depth. Assay results are from core and
trench samples submitted to Genalysis Laboratory Services Pty Ltd, an
accredited mineral analysis laboratory in Perth, Australia.  
Cautionary Statement - The potential quantity and grade of the Molo
deposit is conceptual in nature and there has been insufficient assay
data received at this time to properly define a mineral resource in
accordance with NI 43-101 requirements and that it is uncertain if
further exploration will result in the target being delineated as a
mineral resource.  
The potential quantity and grade of the Molo is being determined
through the progression of exploration and the assays received. To
date, the company's exploration activities include airborne
geophysical surveys, ground geophysics, mapping, drilling and
trenching. The deposit target range is based on 47 diamond drill
holes and 18 trenches.  
The table below summarizes the drill and trench highlights from the
latest assay dataset. An assay table summarizing all results is
provided on the Company's website. It should be noted that the
variation in drill hole intersections reflects the shape of the
deposit. As well, a number of the shorter drill holes reflect the
delineation of the boundaries of the deposit. 

Drill Hole                   From (m)     To (m)   Length(i) (m)         C%
MOLO-12-21                       0.38     116.63          116.25       6.59
MOLO-12-24                        0.6        124           123.4       7.21
MOLO-12-26                       0.45        140          139.55       7.25
MOLO-12-27                       0.92        102          101.08       8.13
MOLO-12-29                        0.6        129           128.4       7.89
MOLO-12-31                        1.5      262.5             261       6.35
MOLO-12-32                       74.5      197.5             123       7.00
MOLO-12-33                        6.5      252.5             246       8.19
MOLO-12-35                       0.65        185          184.35       6.60
MOLO-12-36                          0        200             200       5.83
MOLO-12-37                        4.5      163.5             159       6.80
MOLO-12-34                        0.4        110           109.6       6.96
MOLO-12-34                      123.5     221.92           98.42       7.01
MOLO-12-38                        0.6      89.42           88.82       6.60
MOLO-12-39                       24.5        329           304.5       5.71
MOLO-12-40                         48        326             278       6.36
MOLO-12-41                       84.5      303.5             219       7.02
Trench                        From (m)     To (m)   Length(i) (m)        C%
MOLO-TH-12-13                      74        320             246       6.55
MOLO-TH-12-14                      82        176              94       7.87
MOLO-TH-12-15                      84        152              68       6.94
(i) These intersections are not true widths                                

A satellite image of the Molo deposit footprint, as well as a block
model of assay data can be viewed on the Company's website at
To view figure 1, please visit the following link:
To view figure 2, please visit the following link:
About Energizer Resources Inc. 
Energizer Resources Inc. is a mineral exploration and development
company based in Toronto, Canada, which is developing its Molo flaked
graphite deposit in Fotodrevo, southern Madagascar. The Molo deposit
is located in the Green Giant Graphite project, and is part of the
joint venture (JV) property with Malagasy Minerals Limited in
Madagascar. Energizer has a 75% ownership interest and is the
operator of the project. 
Qualified Person 
Craig Scherba, P.Geo., is the qualified person for the technical
information provided in this release. 
For more information on Energizer Resources and the Molo deposit,
please visit our website at www.energizerresources.com. 
We seek Safe Harbour: This press release may contain forward-looking
statements that may involve a number of risks and uncertainties.
Actual events or results could differ materially from expectations
and projectio
ns set out herein. 
Energizer Resources Inc.
Brent Nykoliation
Senior Vice President, Corporate Development
Toll Free: 800.818.5442 or 416.364.4911
Energizer Resources Inc.
Craig Scherba
President and COO
Toll Free: 800.818.5442 or 416.364.4911
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