Dr. Ruben Padilla reports

SABLE ANNOUNCES PRELIMINARY RESULTS FROM CERRO NEGRO GREENFIELDS PROJECT IN SAN JUAN ARGENTINA

Sable Resources Ltd. has released preliminary exploration results from its new grassroots Cerro Negro project, recently staked by the company. Cerro Negro is an early-stage project located 50 kilometres east of Sable's Don Julio project, 35 km northwest of Challenger Gold's Hualilan project, and 34 km east-northeast of Minsud Resources' South32 Chita Valley project in the province of San Juan, Argentina.

Dr. Ruben Padilla, president and chief executive officer of Sable, commented: "Cerro Negro was identified by Sable during its ongoing project generation work. This project represents an opportunity for new concealed copper resources along underexplored segments of known fertile terrains. We have employed conceptual work and systematic modern exploration techniques that, step-by-step, keep suggesting the potential for finding a new Miocene blind porphyry system. The exploration program at Don Julio is ongoing, with results from the 2023/2024 exploration season anticipated late March."

Highlights:

• New project with excellent location, infrastructure, access and lower elevation, allowing year-round exploration work.
• 100 per cent owned by Sable -- never explored or drilled before.
• Located along a northwest regional structure within the fertile San Juan Miocene mineral belt.
• Geophysical, geochemical and alteration anomalies indicating potential for Miocene porphyry mineralization concealed under Quaternary gravels.

Cerro Negro was staked based on the presence of a regional magnetic anomaly under quaternary gravels. After staking the ground, Sable conducted geological mapping, finding discrete outcrops of Miocene porphyry intrusions; additionally, Sable completed two lines (nine kilometres) of induced polarization (IP) survey, finding a significant chargeability anomaly of at least 800 metres by 900 m on the southwest margin of the magnetic anomaly, and a second, more subtle chargeability anomaly on the northeast extreme of the IP survey. Rock sampling on available outcrops returned copper anomalies up to 0.1 per cent copper (Cu) associated with small quartz-carbonate structures hosted in Ordovician sediment, and containing trace amounts of chalcopyrite and Cu oxides. Spectral analysis of rock samples collected shows the presence of white mica, chlorite and epidote alteration, all of them typical of porphyry environment.

Given the coincidence of magnetic and IP features with localized anomalous rock samples, the company decided to conduct a soil sampling survey using the partial extraction MMI technique (mobile metal ion) to define ionic metal anomalies transported vertically through the gravel cover. The survey consisted of 255 samples collected along the IP lines to compare geochemical and geophysical responses. The MMI results show consistent and significant anomalies of porphyry-related metals like Cu, gold (Au), silver (Ag) and molybdenum (Mo) within and around the main chargeability anomaly; traditional pathfinders such as arsenic (As), antimony (Sb), thallium (Tl), tellurium (Te), selenium (Se), lead (Pb), zinc (Zn) show variable anomalies in different zones of the sampled area.

Results of MMI soil sampling can be presented as absolute values of certain element but are better expressed as a response ratio (RR), which represents the number of times that each value exceeds the background. Normally RR values of two or less are considered too close to the background level and therefore not anomalous. Response ratios of two to five times background are already considered anomalous (SGS, Technical Bulletin 23, 2005). At Cerro Negro, response ratios of up to 70 were obtained for Au, 20 for Cu, 75 for Mo and 96 for Ag, as well as elevated values for different porphyry pathfinders, including up to 2,400 times background for As.

Future work

The company is planning the extension of the MMI soils and geophysical surveys over the entirety property to define drill targets on the search of blind Miocene porphyry centres below the quaternary gravels.

Qualified person

Luis Arteaga, MSc, PGeo, vice-president of 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 the Cerro Negro project

Cerro Negro is a new grassroots exploration project product of Sable's target generation work. Cerro Negro is located in the province of San Juan, Argentina, 34 km east-northeast of Minsud/South32's Chita Valley project with multiple significant drilling intercepts, including 786 m at 0.43 per cent Cu, 0.23 gram per tonne (g/t) Au, 15.78 g/t Ag (see MinSud press release dated May 8, 2023), 35 km northwest of Challenger Gold's Hualilan project, which contains a resource of 2.8 million ounces (Moz) gold equivalent (AuEq) (see Challenger Gold's announcement dated March 29, 2023), and 50 km east of Sable's Don Julio project, which is advancing, financed by an earn-in agreement with South32. Sable is advancing the Cerro Negro project through systematic and modern exploration.

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 and Los Pumas projects in San Juan province, Argentina.

Sample preparation and quality assurance/quality control (QA/QC)

Rock samples collected in Argentina are sent to 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 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 rock samples 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 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 are evaluated according to the company protocols.

Soil samples were collected following the protocols recommended by SGS Minerals. The samples were submitted to SGS labs in San Juan, Argentina, and subsequently analyzed at SGS in Lima, Peru. The MMI technique is a partial-extraction method oriented to determine elements in ionic state. The MMI methodology has proven to be particularly useful for finding buried mineralization and multiple successful study cases can be found in the literature. After extraction, the samples are analyzed for 54 elements (code MMI-ME).

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