Sable Provides End of Year Exploration Update from Don Julio Project in San Juan, Argentina - Seite 2

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.”

Figure 3. Location of IP lines acquired last month with respect to the Gringa and Poposa porphyry targets. The lower section shows the geometry and intensity of the two new IP anomalies.

Grant of Options and Restricted Share Units

The Company also reports that it has granted an aggregate of 3,900,000 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 $0.07 for a period of five years. The Company has also granted an aggregate of 1,300,000 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 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; UAV-Mag; and induced polarization. Sable performed a first drilling campaign in 2018-2019 with 3,101m drilled in 11 holes, a second campaign in 2021- 2022 comprising 4,294m in 9 holes, and a third campaign in 2022-2023. In 2021, Sable signed an Earn-In agreement with South32 to jointly explore the Don Julio project.

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 60°C, 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.