Dr. Ruben Padilla reports

SABLE PROVIDES END OF YEAR EXPLORATION UPDATE FROM DON JULIO PROJECT IN SAN JUAN, ARGENTINA

Sable Resources Ltd. has provided an update on the most recent exploration activities at the Don Julio project in San Juan, Argentina. All exploration expenditures at Don Julio are fully financed under the earn-in agreement between the company and South32, signed in 2021.

Highlights:

• Twenty-one kilometres of induced polarization survey were completed along the Chita Valley, obtaining two new chargeability anomalies that have become direct drilling targets.
• Detailed mapping and sampling were initiated at the Tocota porphyry target. Partial results from rocks samples reported up to 4.05 grams per tonne gold, 30.9 g/t silver and 0.1 per cent copper, and 1.52 g/t Au, 66.8 g/t Ag and 0.26 per cent Cu.
• A soil grid of 628 samples was completed at the Tocota porphyry target, with results expected mid-January.

Tocota porphyry target

The company has completed the road access to the Tocota porphyry target and initiated detailed mapping of the area. Results have been received for new rock samples collected during the month of November. Highlighted values include up to 4.05 g/t Au, 30.9 g/t Ag and 0.1 per cent Cu in a vuggy silica float, and 1.52 g/t Au, 66.8 g/t Ag and 0.26 per cent Cu in a silica sulphate structure with evidence of advanced argillic alteration. These two samples are located 1.3 and 1.9 km from the main Tocota porphyry veinlets zone, opening possibilities for new mineralized areas. These new areas were never sampled before due to difficult access.

In addition to the mapping and prospecting, the company completed a soil grid of 628 samples at the Tocota porphyry target to better understand the distribution of Au-Cu anomalies and to get geochemical information from heavily covered areas. The samples have been submitted to ALS and are currently being analyzed with results expected by mid-January.

Chita Valley IP survey

The company recently completed 21 km of IP survey along the Chita Valley from La Gringa zone to the eastern limit of the property, obtaining two new chargeability anomalies that have become direct drilling targets. These new IP anomalies are mostly covered by quaternary gravels and show values up to 50 millivolts/volt. The most eastern anomaly is located 3.2 km east of the nearest drill hole showing the significant potential that the company has opened with this survey.

Dr. Ruben Padilla stated: "Our team is very pleased with the recent technical developments at Don Julio. This work will greatly assist with a proper delineation of the Tocota porphyry target for drilling in 2024 and the new geophysical anomalies add exploration potential to the existent Gringa, Poposa and Punta Cana porphyry targets."

Grant of options and restricted share units

The company also reports that it has granted an aggregate of 3.9 million options to purchase common shares of the company to directors, officers, employees and consultants in accordance with the company's stock option plan. The options granted are exercisable at seven cents for a period of five years. The company has also granted an aggregate of 1.3 million restricted share units to certain officers of the company, such restricted share units vesting equally over three years on the first, second and third anniversaries.

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 sulphidation (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, UAV-Mag and induced polarization. Sable performed a first drilling campaign in 2018 to 2019 with 3,101 metres drilled in 11 holes, a second campaign in 2021 to 2022 comprising 4,294 m in nine holes, and a third campaign in 2022 to 2023. In 2021, Sable signed an earn-in agreement with South32 to jointly explore the Don Julio project.

Sample preparation and quality assurance/quality control

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 its laboratory in Lima, Peru. Sample preparation includes drying in an oven at a maximum temperature of 60 degrees, fine crushing of the sample to at least 70 per cent passing less than two millimetres, sample splitting using a riffle splitter and pulverizing a 250-gram split to at least 85 per cent 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. 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.

Qualified person

Luis Arteaga, MSc, PGeo, vice-president, exploration, is the company's qualified person as defined by National Instrument 43-101. He has reviewed and approved the technical information in this news release.

About Sable Resources Ltd.

Sable is a well-financed junior grassroots explorer focused on the discovery of Tier 1 new precious metal and copper projects through systematic exploration in endowed terranes located in favourable, 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 hectares) incorporating the Don Julio, El Fierro, La Poncha and Los Pumas projects in San Juan province, Argentina; and the Mexico regional program (1.16 million hectares in application, 39,000 hectares titled) incorporating the Vinata and El Escarpe projects.

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