Sable Resources Ltd – Correction to August 9 News R elease
PRESS RELEASE FOR IMMEDIATEW RELEASE
Sable Resources Ltd – Correction to August 9 News Release
Vancouver, British Columbia, August 10, 2016 - Sable Resources Ltd. (TSX-NEX SAE.H) (the “Company” “Sable”) announces a correction to its news release dated August 9, 2016.
The second paragraph of the August 9, 2016 news release contained an announcement of a proposed 100 meter diamond drill exploration program, and should have read 1,000 meter diamond drill exploration program.
The following is the complete and corrected version of the news release:
Vancouver, British Columbia, August 9, 2016 - Sable Resources Ltd. (TSX-NEX SAE.H) (the “Company” “Sable”) wishes to announce a private placement financing of up to CAD$500,000 (the “Offering”) by issuing 10,000,000 shares at a price of CAD$0.05 per share, subject to regulatory approval. A finders fees may be payable in connection with part of the Offering.
The proceeds of the Offering will be used for a proposed 1000m diamond drill exploration program of the Company’s Toodoggone property; for geotechnical investigation and upgrades to the Baker tailings storage facility located at the Baker mill site; and for general working capital.
Exploration fieldwork for a phase 1 geological and alteration mapping program on the Baker mine is complete, and will assist the Company’s efforts to select future drill targets.
The Company wishes to disclose that it has received correspondence from the British Columbia Ministry of Energy and Mines (the “Ministry”) with regard to outstanding work required at the Company’s Baker tailings facility. The Company is working with the Ministry to resolve the issue and will update shareholders as information arises.
The Company also wishes to disclose as a result of third party enquiries, that it has entered into multiple Confidentiality Agreements with major exploration/mining companies on Sable’s Toodoggone property. The key focus of these explorers is the bulk tonnage copper-gold porphyry systems which the Toodoggone district is known for as exemplified by the past producing Kemess mine owned by Aurico Metals Inc. (“Aurico”) located 40 km to the south of Sable’s property.
About Sable Resources Ltd.
Sable owns the Toodoggone gold project comprising 66 square kilometers of mineral tenure and mining leases, including the past producing Baker and Shasta mines, and the 250 ton-per-day Baker mill and tailings facility. The project is located in north-central British Columbia, Canada and is road accessible.
We seek safe harbor
For more information:
Melvyn Rahal, President & CEO [email protected] Tel (604) 986-8566 Or visit http://www.sableresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.