Energizer Closes Non-Brokered Flow-Through Financing

Energizer Resources Inc. (TSX:EGZ)(OTCQX:ENZR)(FRANKFURT:YE5) ("Energizer" or
the "Company") is pleased to announce that it has closed a non-brokered private
placement financing (the "FT Financing") raising gross proceeds of CAD$1,566,490
through the issuance of 11,189,215 common shares that are "flow through" shares
within the meaning of the Income Tax Act (Canada) (the "ITA") at a price of
CAD$0.14 per share. 


In connection with the FT Financing, the Company paid cash finder's fees and
costs totalling CAD$103,989 and issued 671,353 compensation options, each
exercisable to acquire one common share at a price of CAD$0.14 per share for a
period of 18 months from the date of issuance. The gross proceeds raised from
the FT Financing must be used to incur "Canadian exploration expenses" (within
the meaning of the ITA) on or before December 31, 2014. All securities issued in
connection with the FT Financing are subject to a four-month hold period from
the date of issuance as required by Canadian law and a minimum six month hold
period as required by U.S. law. Completion of the FT Financing remains subject
to final approval of the applicable regulatory authorities, including the
Toronto Stock Exchange.


Sagar Property - Clarification of Status

While the Company is fully focused on developing its Molo Graphite Project in
Madagascar, the funds raised from the FT financing will be used towards the
further development of its Sagar Property (a potential IOCG (iron
oxide/copper/gold) project located in Quebec, Canada) which should assist the
Company in maximizing the merits of the project for presentation to prospective
joint venture partners or purchasers. Any value derived from the Sagar Property
divestiture efforts would be subsequently allocated to the development of the
Molo Graphite Project. 


Brokered Financing

The Company, together with the "Agent", continues to work towards closing the
previously announced brokered offering of securities of the Company to raise up
to CAD$8million by year-end (the "Brokered Financing"). The net proceeds raised
through the Brokered Financing will be used for further exploration and
development of the Molo Graphite Project, including the completion of a
definitive feasibility study.


The aggregate shares issued pursuant to financings will not exceed the amount
approved by shareholders at the Company's annual meeting of shareholders held on
December 11, 2013.


The securities described herein have not been registered under the U.S.
Securities Act of 1933, as amended, or any state securities laws and may not be
offered or sold in the United States or to U.S. persons unless an exemption from
registration is available. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.


About Energizer Resources

Energizer Resources Inc. is a mineral exploration and development company based
in Toronto, Canada, which is focused on developing its 100% owned Molo flaked
graphite deposit near Fotadrevo in southern Madagascar. The Company released a
robust Preliminary Economic Assessment Study of the Molo graphite project in
February 2013 and has now initiated a Full Feasibility Study, ("FS") which is
expected to be completed and released to the market by Q4 2014. As part of the
FS, Energizer recently completed a pilot plant operation, generating twelve
tonnes of finished graphite concentrate for the purposes of evaluation by both
potential off-take and strategic partners. 


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

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 projections set out herein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Energizer Resources Inc.
Brent Nykoliation
Senior Vice President, Corporate Development
Toll Free: 800.818.5442 or 416.364.4911
[e-mail]


Energizer Resources Inc.
Craig Scherba
President and COO
Toll Free: 800.818.5442 or 416.364.4911