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LATEST FIRM TRANSACTION

Energizer Resources Inc. Completes US$4.8 Million Private Placement

September 26, 2014

Energizer Resources Inc. (“Energizer”) closed a private placement offering (the “Offering”) of 34,285,714 common shares of Energizer at an issue price of US$0.14 per common share for gross proceeds of US$4,800,000. The Offering consisted of a brokered and a non-brokered portion. The brokered portion of the Offering was conducted by a syndicate of agents led by GMP Securities L.P. and including Dundee Securities Ltd.

Wildeboer Dellelce LLP acted for Energizer in connection with the Offering with a team that included Al Wiens, Sanjeev Patel, Patrick Magee, Mack Hosseinian and Lara Wharton (corporate/securities).

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