Mr. Melvyn Rahal reports

SABLE RESOURCES LTD - PRIVATE PLACEMENT AND CORPORATE UPDATE

Sable Resources Ltd. has arranged a private placement financing of up to $500,000 by issuing 10 million shares at a price of five cents per share, subject to regulatory approval. A finder's fee may be payable in connection with part of the offering.

The proceeds of the offering will be used for a proposed 1,000-metre 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 has received correspondence from the British Columbia Ministry of Energy and Mines 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.

As a result of third party enquiries, the company 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., located 40 kilometres to the south of Sable's property.

We seek Safe Harbor.