FOR IMMEDIATEW RELEASE Sable Resources Ltd – Acquires the Tulox Gold Project, South-ce ntral British Columbia
PRESS RELEASE FOR IMMEDIATEW RELEASE
Sable Resources Ltd – Acquires the Tulox Gold Project, South-central British Columbia
Vancouver, British Columbia, March 21, 2017 - Sable Resources Ltd. ("Sable" or the "Company") (TSX-NEX: SAE.V) is pleased to announce the acquisition of the Tulox gold project located in south-central British Columbia. In consideration for the project which is being purchased from arm’s-length vendors subject to the purchase agreement dated March 12, 2017, Sable will issue the vendors 200,000 common shares of the Company, and pay CAD $5,000. An additional aggregate 500,000 common shares will be issued to the vendors as ‘bonus shares’ in the event that Sable completes a NI43-101 technical report on the property that contains a measured and indicated resource of at least 500,000 ounces of gold within five (5) years of the purchase agreement. All common shares issued related to this transaction will be subject to a hold period of four months plus one day.
The road accessible Tulox gold project consists of 12,918 ha of mineral tenure in the Clinton Mining Division. Historical work completed by previous operators in 2006 consists of 1,434 standard soil samples and 35.75 kilometres of induced polarization and magnetometer geophysical surveys.
The acquisition is subject to the approval of the NEX board of the TSX Venture Exchange.
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:
Tom Obradovich, President & CEO [email protected] Tel (416) 985-7140 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.