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Energizer Resources Reports Drill Assay Highlights from its Green Giant Vanadium Project – Including 1.55% V2O5 over 33 metres

Posted at 6:18 a.m. on January 1, 2010

Energizer Resources Inc. (formerly Uranium Star Corp.) (OTCBB:URST) (FRANKFURT:YE5) (“Energizer” or “the Company”) is pleased to announce initial assay results for its Green Giant Vanadium Project in Madagascar.

Drill Core Assay Highlights of the assay results received to date are as follows:

  • 1.00% V2O5 over 36 metres, including 1.15% V2O5  over 9 metres (Hole J-03)
  • 1.00% V2O5 over 43.5 metres, including 1.20% V2O5 over 18 metres (Hole J-09)
  • 0.98% V2O5 over 85.5 metres, including 1.55% V2O5 over 33 metres (Hole M-20)
  • 0.97% V2O5 over 21 metres, including 1.20% V2O5  over 6 metres (Hole J-13)
  • 0.87% V2O5 over 94.5 metres, including 1.05% V2O5 over 22 metres (Hole M-41)
  • 0.80% V2O5 over 91.5 metres, including 0.94% V2O5 over 9 metres (Hole M-16)
    • Note: J and M denotes Jaky and Manga zones respectively

A table of assay results for the diamond drill holes received to date is provided at the end of this release. To date, 55% of the assay results have been received for the 54 diamond drill holes (totalling 8,931 metres).  The assay results were on average 16% higher than the previously reported X-Ray Fluorescence (XRF) field results provided in the Company’s December 16, 2009 press release.

Significant Vanadium Mineralization Identified in Two Zones

Since 2007, the Company has conducted extensive surficial exploration activities over the property, consisting of 4,857 soil samples and 151 trenches over 16,686 metres. This exploration work has delineated a continuous mineralized trend of vanadium 21 kilometres in length.  A total of 85 diamond drill holes (13,005 metres) has defined significant vanadium mineralization along this trend within two zones -   the Jaky zone (defining 850 metres of strike length) and the Manga zone (defining 500 metres of strike length).

2010 Resource Definition Program Targeting Manga Zone

The 2010 resource definition drill program will focus on the Manga zone which has a high-grade core that is open along strike and at depth, and has been defined over a strike length of 500 metres. The 2010 program is expected to commence in May after the end of rainy season, and will focus on expanding the zone over a strike length of 3,000 metres

Infrastructure Synergies Expected to Provide Cost Benefits

Energizer has initiated discussions with Asia Thai Mining (Pan African Mining), one of two companies that are developing the large Sakoa coalfield, which is located approximately 30 kilometres northwest of the Green Giant Vanadium Project. Asia Thai Mining has informed the Company that the development of the coal project is expected to commence in early 2010 and will include a new port facility, road and railroad from the coast to the coalfield, a coal-fired power plant to generate electricity and a major water pipeline. Based on the information provided to the Company by Asia Thai Mining, much of the proposed infrastructure for the coal project will be relevant to the Green Giant Vanadium Project and is expected to provide significant cost savings for both capital and operating components of the Company’s Green Giant Vanadium Project. As such, the Company is continuing to investigate the potential synergies between these two projects.

Energizer Resources Appoints New VP of Exploration

The Company is pleased to announce that Craig Scherba, P.Geol., was appointed a Director and V.P. of Exploration for the Company effective January 1, 2010.  Mr. Scherba was instrumental in the discovery of the Green Giant Vanadium deposit in Madagascar and has been closely involved with the project since its inception.  Mr. Scherba is the qualified person for the geological information provided in this release.

Mr. Scherba commented, “We are very pleased with the intersections and assay grades of vanadium outlined to date. The 2010 drill program should continue to define vanadium mineralization similar to the zones which have already been drill tested.”

Geological and Engineering Consultants

Taiga Consultants Ltd. is continuing to conduct the Company’s exploration activities on the Green Giant Vanadium Project and PEG Mining Consultants Inc. continues to provide engineering expertise for the project, including oversight of the metallurgical work currently underway at Mintek Laboratories in South Africa and the preparation of an order of magnitude study which will form the basis of a National Instrument 43-101 compliant preliminary economic assessment for the project.

For more information, please visit our website at www.energizerresources.com

Or contact:

Brent Nykoliation, Vice President of Business Development
Energizer Resources Inc.
Toll Free: 800.818.5442 or 416.364.4911
Email:  bnykoliation@energizerresources.com

or

Julie Lee Harrs, President and COO

Cautionary Statement: The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The statements made in this news 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 projections set out herein.

To read the complete news release with tabled results, please see
http://www.energizerresources.com/images/stories/pdf/2010_01_26.pdf


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