Sable Options Perk-Rocky Copper-Gold Porphyry Project in BC Canada

VANCOUVER, British Columbia, May 14, 2024 (GLOBE NEWSWIRE) -- Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE | OTCQB: SBLRF) is pleased to announce that it has entered into an option agreement to acquire a 100% interest in the Perk-Rocky Project located 225km west of Williams Lake, British Columbia, Canada (“Perk-Rocky” or the “Project”).

Perk-Rocky is a porphyry copper-gold exploration project comprising 10,475 Ha of mineral claims located at the suture between Stikine equivalent volcanic Terrane and younger coast range intrusives. The Project also lies within a regional structural belt that hosts the New Prosperity, IKE and Empress porphyry deposits and porphyry related projects as well as the historical high-grade Bralorne gold mine which collectively highlight the mineral endowment and prospectivity of this mineralized belt. Perk-Rocky is centered around a large porphyry style alteration zone of at least 8km by 5km that includes multiple mineral occurrences such as the Briton prospect (Fe), Rya, Perkins Peak, Chilco and neighbouring showings (Cu-Au). Despite the significant alteration and mineralization present, the Project has only seen very limited exploration including short campaigns of talus and rock sampling, an airborne VTEM and magnetic survey, and only 2,049 metres of drilling in 2021. Subsequent multi-band WorldView-3 satellite work has further enlarged the interpreted lithocap size.

Dr. Ruben Padilla, President and CEO of Sable commented, “Perk-Rocky’s metallogenic setting, large surface footprint, favourable erosional level and alteration style, and geochemical signature align with Sable’s objective of discovering large porphyry Cu-Au deposits. In addition to having at least three locations reporting outcropping Cu-Au porphyry mineralization and very good access, Perk-Rocky is also a good project from an operational point of view as we can advance it during the time of the South America winter when we reduce field activities in Argentina.”

Terms of Option Agreement

Sable can earn a 100% interest in the Perk-Rocky Project by completing the following payments to the vendors:

• CAD$100,000 upon signing the option agreement; and issuance of 500,000 Sable common shares on receipt of TSX Venture Exchange approval;
• CAD$150,000 on or before the first anniversary;
• CAD$225,000 on or before the second anniversary;
• CAD$250,000 on or before the third anniversary;
• CAD$500,000 on or before the fourth anniversary; and
• CAD$775,000 on or before the fifth anniversary.

Following earn-in to 100% ownership in the Project, milestone payments are payable as follows: