Dr. Ruben Padilla reports

SABLE PROVIDES UPDATE ON ONGOING DON JULIO DRILL PROGRAM

Sable Resources Ltd. has provided an update on the continuing drill program at the Don Julio project, located in the province of San Juan, Argentina. All exploration activities at Don Julio are financed by South32 under the earn-in agreement between the company and South32, signed in 2021.

Dr. Ruben Padilla, President and CEO of Sable commented, "Don Julio is a multi-target project contained within an area of over 10 x 10 km. This season's drilling program has been designed to test several of these targets. The current drilling results from the La Gringa and Punta Cana targets along with our geological observations define large anomalous mineral systems and provide exploration vectors that take us closer to the causative porphyry intrusive centres which in porphyry systems often host the best copper and gold grades. Drilling continues at La Gringa along with the modeling of all available data from La Gringa and Punta Cana to continue exploration, refine the geological models and to plan additional drilling."

Highlights

1-La Gringa

Nine drill holes have been completed this season at the La Gringa target for a total of 4,098m. Drilling has defined a >1,500m NNE long and >1,000m wide porphyry system, mostly covered by thin quaternary gravels along the La Gringa valley. Cu-Au-Mo anomalous values are hosted by altered siliciclastic rocks and hydrothermal breccias with an upper advanced argillic alteration zone overprinting deeper sericitic and potassic alteration assemblages. The latest results increase the size of the already large porphyry style mineralization that remains open along the NNE strike and at depth. The causative intrusion, and potentially the host of the best Cu-Au grades, has yet to be found.

DJ-DH-23-14:

• 3.75 per cent copper equivalent (17.3 grams per tonne silver; 1.44 grams per tonne gold; 2.33 per cent copper; 0.58 per cent zinc) over 2.90m from 77.6 to 80.5m
  • Including 9.83 per cent copper equivalent (46.5 grams per tonne silver; 3.85 grams per tonne gold; 6.03 per cent copper; 1.61 per cent zinc) over 0.50m from 78.7 to 79.2m

DJ-DH-23-15

• 0.17 per cent copper equivalent (3.14 grams per tonne silver; 0.092 per cent copper; 163 parts per million molybdenum) over 17.0m from 724.0 to 741.0m
• 0.17 per cent copper equivalent (0.068 per cent copper; 319 parts per million molybdenum) over 157.0m from 844.0 to 1,001m
  • Including 0.22 per cent copper equivalent (0.11 per cent copper; 333 parts per million molybdenum) over 22.80m from 903.20 to 926.0m

DJ-DH-23-17

• 1.11 per cent copper equivalent (5.33 grams per tonne silver; 1.07 grams per tonne gold; 0.28 per cent copper) over 6.0m from 155.5 to 161.5m

DJ-DH-23-19

• 1.15 per cent copper equivalent (8.63 grams per tonne silver; 0.42 gram per tonne gold; 0.77 per cent copper) over 0.9m from 281.55 to 282.45m
• 0.61 per cent copper equivalent (5.48 grams per tonne silver; 0.3 gram per tonne gold; 0.26 per cent copper) over 17.5m from 326.5 to 344.0m
• 0.49 per cent copper equivalent (9.77 grams per tonne silver; 0.16 gram per tonne gold; 0.1 per cent copper) over 11.0m from 427.0 to 438.0m
• 0.75 per cent copper equivalent (14.88 grams per tonne silver; 0.37 gram per tonne gold; 0.32 per cent copper) over 1.6m from 448.1 to 449.7m

2-Punta Cana

A 437m drill hole (DJ-DH-23-16) was completed at Punta Cana targeting subcropping Au-Cu porphyry style mineralization over a strong magnetic anomaly and close to two anomalous drill holes from the last drill season (see Figure 3). The last 156m of this hole returned 0.32 gram per tonne gold equivalent associated with quartz-bornite-chalcopyrite veinlets hosted by a series of subvolcanic intrusions and breccias. The Company believes that this mineralization represents the highest part or carapace of a large porphyry system at deeper level. Future drill campaigns will evaluate the grade profile of the system below the 4,500 masl horizon (Figures 3 and 5).

DJ-DH-23-16

• 0.32 gram per tonne gold equivalent (6.39 grams per tonne silver; 0.11 gram per tonne gold; 0.086 per cent copper; 32 parts per million molybdenum) over 156.0m from 281.0 to 437.0m
  • Including 0.45 gram per tonne gold equivalent (11.05 grams per tonne silver; 0.14 gram per tonne gold; 0.11 per cent copper; 39 parts per million molybdenum) over 55.0m from 330.0 to 385.0m
    • Including 1.05 grams per tonne gold equivalent (46.68 grams per tonne silver; 0.13 gram per tonne gold; 0.15 per cent copper; 0.17% Pb; 0.14 per cent zinc; 51 parts per million molybdenum) over 12.0m from 330.0 to 342.0m

3-Fermin

The first round of drilling started at the Fermin base metals skarn target during the last week of March (Figure 5). Two drill holes for a total 450.8m have been completed with assays pending.

Hole Descriptions

DJ-DH-22-14

Hole 14 was drilled perpendicular to hole DJ-DH-23-12, previously released and which intercepted three intervals of high-grade Au-Cu-Ag mineralization associated with chalcopyrite, enargite, and sphalerite bodies (see attached table). The hole encountered the first mineralized zone intercepted by hole 12 extending it around 50m towards the west with similar grade profile. Hole DJ-DH-23-18 was drilled on the western margin of the same chargeability anomaly targeting the same mineralization style but did not intercept significant mineralization.

DJ-DH-22-15

Hole 15 was drilled as an extension of DJ-DH-22-09 drilled last season, the hole started at 623m and finished at 1,001m of depth, becoming the deepest hole in the history of the Project. The hole intercepted extensive biotite alteration in sedimentary rocks with abundant A and B veinlets. Although the Cu anomaly is moderate, the Moly values are consistently high reaching up to 0.16% Mo and yielding >200 parts per million molybdenum over the entire hole (see attached table). Results from this hole increase the size of the already large moly halo external to the porphyry intrusion yet to be found.

DJ-DH-22-16

Hole 16 is the only hole drilled at the Punta Cana target this season; the hole targeted the core of a conspicuous magnetic anomaly associated with the Au-Cu porphyry mineralization. The hole intercepted a broad zone of Au-Ag-Cu mineralization represented by porphyry quartz veinlets bearing chalcopyrite, bornite, and magnetite (see attached table). The mineralization found in the three holes forms a relatively low angled zone with apparent orientation ENE. The veinlets are hosted in a series of subvolcanic intrusions and breccias; the company believes that this mineralization represents the highest part or carapace of a large porphyry system at deeper level. Future drill campaigns will evaluate the grade profile of the system below the 4,500 masl horizon.

DJ-DH-23-17

Hole 17 is a shallow hole drilled on the eastern margin of the previously shown chargeability anomaly looking for high-grade mineralization similar to the one intercepted in holes 12 and 14 (see attached table). The hole intercepted sediments with SCC and minor advanced argillic alteration crosscut by abundant D veinlets. Although shallow the hole points to the large potassic alteration zone defined by holes DJ-DH- 22-07, DJ-DH-23-11, and DJ-DH-23-15, and shows a marked increase in Cu and Mo values towards its bottom helping with the larger scale vectoring at La Gringa.

DJ-DH-23-19

Holes DJ-DH-23-13 and DJ-DH-23-19 were both drilled on the western margin of the large chargeability anomaly discovered along the La Gringa Valley (Figures 1 and 4). Hole 13 discovered a series of hydrothermal breccias with advanced argillic alteration and weak copper mineralization and hole 19 was a step back hole that defined a large diatreme breccia with Cu-Au-Ag anomalies. Hole 19 also discovered several mineralized zones at depth including 17.5m @ 0.61 per cent copper equivalent associated with pyrite-chalcopyrite in pyrophyllite veinlets (see attached table).

Porphyry mineralization is characterized by broad zones of disseminated sulfides and vein stockwork; high-grade Cu-Au mineralization intercepted in hole 14 consists of irregular zones of semi-massive sulfides, sulfide-rich breccias, and stockworks; therefore, true width cannot be determined at this time. CuEq and AuEq were calculated based on 100% recovery and prices of USD 1,500 per oz for gold; USD 18.00 per oz for Ag; USD 3.00 per pound for copper; USD 10.00 per pound of molybdenum, and USD 1.10 per pound of zinc.

Webinar

Sable's President and CEO, Ruben Padilla, will be providing an exploration update discussing these results and the 2022 / 2023 exploration season. The webinar, hosted by Adelaide Capital, is scheduled for Monday, May 1, 2023 at 4:15pm EST.

QUALIFIED PERSON

Luis Arteaga M.Sc. P.Geo., Vice President Exploration is the Company's Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this news release.

ABOUT THE DON JULIO PROJECT

The Don Julio project comprises 69,350 hectares in the Cordillera Frontal in San Juan, Argentina. It includes the Don Julio cluster that contains numerous targets of porphyry (La Gringa, Poposa, Amarillo, Punta Cana, Tocota); intermediate sulfidation (Lodo, San Gabriel, Colorado); skarn (Fermin); and the regional properties that include the Los Pumas project as well as extensive unexplored ground. Since 2018, Sable has conducted systematic surface work including mapping; rock sampling; talus sampling; GroundMag, and UAV-Mag, and induced polarization. Sable performed a first drilling campaign in 2019 with 3,101m drilled in 11 holes and a second campaign in early 2022 comprising 4,294m in 9 holes. In 2021, Sable signed an Earn-In agreement with South32 to jointly explore the Don Julio project.

ABOUT SABLE RESOURCES LTD.

Sable is a well-funded junior grassroots explorer focused on the discovery of Tier-One new precious metal and copper projects through systematic exploration in endowed terranes located in favorable, established mining jurisdictions. Sable's focus is developing its large portfolio of new greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, La Poncha, and Los Pumas Projects in San Juan Province, Argentina; and the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Vinata and El Escarpe projects.

SAMPLE PREPARATION AND QA/QC

Sample preparation for projects in Argentina is carried out by ALS Chemex Argentina, a subsidiary of ALS Minerals, at its facility located in Mendoza, Argentina. Analyses are carried out at their laboratory in Lima, Peru. Sample preparation includes drying in an oven at a maximum temperature of 60degreeC, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (code PREP-31). The holes contained in this press release were analyzed by methods Au-AA24 (Fire Assay Fusion and Atomic Absorption Spectrometry finish) and ME-MS61 (Four Acid Digestion with Mass Spectrometry finish); the latter one includes 48 elements (Al, Ag, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr). Both digestion methods dissolve most minerals but not all elements are quantitatively extracted in some sample matrices. Control samples (standards, blanks, and duplicates) are inserted systematically, and their results evaluated according to the Company protocols.

We seek Safe Harbor.