The savage bolt gun should shoot sub-MOA pretty easily as is, but getting 0.3 MOA at 300 yards from any out-of-the-box factory rifle with a mass-produced barrel is expecting a lot (Jim Watson was posting while I was looking up records, so that is redundant but ageed with). If you put a custom barrel on it and work the loads up carefully for that gun and with weighed charges, then perhaps?
My 10FP in .308 was more like a 1 MOA gun new. I finally figured out the thermoplastic stock was too flexible and was rubbing up under the barrel when I use a sling or a bi-pod (the shiny spots on the underside of the barrel gave it away). I swiched to the Choate varmint stock and firelapped the barrel. Its first real test was an 800 yard exercise at Camp Perry during the first shooting session at the Long Range Firing School. It shot a 99-2X in that exercise in which the targets were left up for the whole string and no pulling and spotting was done. The idea was just to take your 10 and try to read the wind changes between rounds. All ten were on the right half of the 20 inch 10 ring (wind was from 3:00 and I overcompensated), and the 9 was almost a scratch 10 at 4:00. So this was about an 11" group; 1.3 MOA at 800 yards. The wind will be half of that width variation. It would have been the 175 grain Sierra MK over about 45 grains of Varget in Winchester cases. I haven't had it out since the school so I don't know what it's shooting at 100 or 300 now? Catching that information up was on my to-do list for this summer. but time is passing quickly.
Nick