Sable Resources Ltd – Acquires the Bot Deal Project, north-central British Columbia
PRESS RELEASE FOR IMMEDIATE RELEASE
Sable Resources Ltd – Acquires the Bot Deal Project, north-central British Columbia
Vancouver, British Columbia, April 18, 2017 - Sable Resources Ltd. ("Sable" or the "Company") (TSX-NEX: SAE.V) is pleased to announce the acquisition of the Bot Deal Project (the “Project”) located in north-central British Columbia. The Project has been acquired by purchasing 6 claims totaling 242 ha from an arm’s-length vendor, and by staking an additional 3,031 ha of mineral tenure. Under the terms of the purchase agreement dated April 11, 2017 Sable will pay the arm’s length vendor CAD $7,500 and issue 400,000 common shares of the Company in consideration of the claims. 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 arm’s length vendor’s claims 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 Bot Deal Project is located approximately 35 km north of the Company’s flagship Toodoggone Gold Project which consists of two past producing mines and the 250 ton-per-day Baker mill and tailings facility. Historical work completed by a previous operator on the Bot Deal Project betwen 2004 and 2006 consisted of prospecting and mapping with reported expenditures in excess of CAD $95,000.
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.