Dr. Ruben Padilla reports

SABLE PROVIDES 2023-2024 FIELD SEASON EXPLORATION UPDATE FOR DON JULIO PROJECT IN SAN JUAN, ARGENTINA

Sable Resources Ltd. has provided an update on the just completed 2023 to 2024 field season 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 a subsidiary of South32 Ltd., signed in 2021.

Highlights:

• A total of $1.2-million (U.S.) was invested this season for surface fieldwork at Don Julio;
• A total of 507 rock samples were collected during the season with all samples having been received and analyzed for gold, multielements and spectral signature.
• A total of 628 soil samples were collected over the Tocota target with results showing good coincidence of copper with the outcropping mineralization and interesting anomalies of molybdenum, bismuth, arsenic and tellurium located northwest of the porphyry zone and at higher elevation. These pathfinder anomalies suggest extension of the known mineralization toward the northwest at depth. The soil anomalies and the observed porphyry mineralization coincide with a very strong, vertical magnetic anomaly.
• Detailed structural mapping has defined the main structures within the project and target zones with favourable structural preparation.
• A 21-kilometre induced polarization survey was conducted along the main Chita valley obtaining two new chargeability anomalies.
• Colorado, a new drilling target, has been generated after combining new geophysical data with historical field observations.
• The Poposa target where the company drilled holes DJ-DH-22-01, 02 and 03 in 2022 has been expanded to include the Morro zone where new interesting surface observations suggest the presence of a porphyry system at depth.
• Geological mapping has covered some existent gaps, and the geology team has reviewed WorldView3 anomalies generated in the last field season (2022/2023). All targets are drill ready for next season and the company is advancing on the work plan and budget with a subsidiary of South32 in accordance with the terms of the earn-in agreement.

Dr. Ruben Padilla, Sable's president and chief executive officer, commented: "We are very pleased with the work completed this season at Don Julio. Our focus this year on fieldwork has allowed us to better understand the geology and mineral potential of Don Julio. With a cluster of four potential Miocene porphyry centres in an area of approximately seven by six km, including La Gringa, Morro-Poposa, Tocota and Punta Cana, we're now moving forward with defining the 2024/2025 budget and objectives for our next drilling campaign."

Rock sampling and mapping this season was focused outside of the known lithocap, on the eastern portion of the project, which has been historically less explored. Detailed mapping and rock sampling at the Tocota target revealed the association of the mineralized veinlets with a diorite intrusion which shows a strong magnetic anomaly. The soil sampling confirmed the possibility of additional concealed mineralization to the northwest underneath rocks with strong pathfinder anomalies such as Mo, As, antimony, Te, Bi and sulphur.

The IP lines acquired along the main Chita valley revealed two new chargeability anomalies: Gringa NE and Colorado. While Gringa NE is an interesting low-angle IP feature dipping to the east, Colorado is a very strong, vertical, dome-shaped IP anomaly covered by Quaternary gravels at 4,100 masl (metres above sea level). The Colorado IP anomaly seems to be connected with the previously known Colorado breccia; a magmatic hydrothermal breccia outcropping at 4,900 masl which contains mineralized porphyry fragments and is strongly affected by advanced argillic alteration, and that has returned values up to 3.9 per cent Cu and 13 grams per tonne gold. The new Colorado chargeability anomaly is located 3.2 km east of the nearest drill hole, considerably extending the size of the hydrothermal system. The lower elevation of the geophysical feature (4,100) would allow drilling in a much better position.

The Poposa target where the company drilled three holes in 2022 (DJ-DH-22-01, 02, 03) has been integrated with the Morro zone where historical hole ATW-05 was drilled vertically into a large diatreme breccia system which contains fragments of biotite altered rocks; also, at Morro, multiple hydrothermal breccias with fragments of porphyry veinlets were found outcropping in proximity to the mentioned diatreme. The combination of these new and historical observations indicates the presence of a porphyry system that has not been tested yet and will be an integral part of the company's next drilling campaign.

Webinar

Sable's president and CEO, Dr.n Padilla, will be providing an exploration update discussing the 2023/2024 exploration season. The webinar, hosted by Adelaide Capital, is scheduled for Thursday, April 4, 2024, at 4:15 p.m. EDT.

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, Colorado); 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 m 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 a subsidiary of 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 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 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 (greater than 130,000 hectares) incorporating the Don Julio, El Fierro and Cerro Negro projects in San Juan, Argentina.

We seek Safe Harbor.