Energizer Resources Provides Clarification on Previous News Release Disclosures

TORONTO, ONTARIO--(Marketwired - Dec. 29, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Energizer Resources Inc. (TSX:EGZ)(OTCQX:ENZR)(FRANKFURT:YE5)(WKN:A1CXW3) ("Energizer" or the "Company") wishes to provide clarification in respect of certain previously issued news release disclosures.

The Company's news releases dated December 3, 2012, and January 24, 2013 and February 26, 2013 disclosed a resource estimate for a higher-grade resource in two zones, and it may have been unclear as to whether these zones were included in the overall resource estimate.

The 2012 resource delineation drilling and trenching on Molo took place between May and November 2012, and allowed for a maiden Indicated and Inferred Resource to be stated in early December of the same year by Desmond Subramani, Pr.Sci.Nat. (400184/06) and John Hancox, Pr.Sci.Nat. (400224/04), independent Qualified Persons with Caracle Creek International Consulting Pty Ltd. ("CCIC") of Johannesburg, South Africa. The mineral resource estimate for Molo is summarized in the table below. The mineral resources are classified in the Indicated and Inferred categories according to the Canadian Institute of Mining Definition Standards. Resources within the "low grade" domain are stated at a 2% C cut-off, and resources within the "high grade" domains are stated at a 4% C cut-off. The "high grade" and "low grade" domains, each are estimated and reported separately as per the table below, with the total combined Indicated Resource estimated at 83.99 Mt, grading at 6.36% C, with an additional Inferred Resource of 40.32 Mt, grading at 6.3% C.

Classification	Material Type	Tonnes (Mt)	Grade (C%)
Indicated	"high grade"	40.88	8.09
Indicated	"low grade"	43.11	4.72
Indicated - Total		83.99	6.36
Inferred	"high grade"	19.23	8.11
Inferred	"low grade"	21.09	4.64
Inferred - Total		40.32	6.3

Notes: