Sable Resources announces $500K FT financing

pcNewsWireSable Resources Ltd. (TSX-V: SAE.H) intends to close a non-brokered private placement of up to 2,500,000 “flow-through” units at $0.20 per FT unit for gross proceeds of up to $500,000

Proceeds will be used to incur Canadian exploration expenses on its properties located in Canada.

News Release


Vancouver, British Columbia, June 13, 2017 – Sable Resources Ltd. (NEX: SAE.H) – (the “Company” or “Sable”) is pleased to announce the offering, by way of non-brokered private placement, of up to 2,500,000 “flow-through” units (the “Units”) at a price of C$0.20 per Unit, for aggregate gross proceeds of up to C$500,000 (the “Offering”).

Each Unit will consist of one “flow-through” common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one common share of the Company (which will not be a “flow-through” common share) at an exercise price of C$0.30 until one year from the date of issuance.

The gross proceeds of the Offering will be used by the Company to incur Canadian exploration expenses (the “Qualifying Expenditures”) on its properties located in Canada. The Company will renounce the Qualifying Expenditures with an effective date of not later than December 31, 2017.

The closing of the Offering is expected to occur on or about June 24, 2017 and is subject to the completion of formal documentation and the approval of the NEX Board of the TSX Venture Exchange.

Pursuant to Canadian securities laws, any securities issued in the Offering will be subject to a hold period of four months plus one day from the date of issuance.

The Company would also like to take this opportunity to update shareholders with respect to outstanding British Columbia Ministry of Energy and Mines (“Ministry”) orders related to the Baker Property. The Baker Tailings Storage Facility (“TSF”) has been the subject of several outstanding orders as mentioned in the Company’s November 16, 2016 press release. Over the winter the Ministry contracted Norwest Corporation as engineering consultants to undertake a Dam Safety Review (“DSR”) of the Company’s TSF. The DSR was funded by a portion of the Company’s reclamation bond posted for the facility. The unused portion of the reclamation bond will remain posted as reclamation security for the site. The Company has had productive discussions with the Ministry to cooperate and correct outstanding orders and on May 29th, 2017 received communication from the Ministry accepting the Company’s proposed Work Program (“Program”). The Program will consist of a dam breach and inundation study, a geotechnical investigation comprised of drilling, and design and construction of engineered surface water diversion channels and emergency spillways. The Company believes it is well funded to complete the required activity and has retained Tetra Tech Inc and Chu Cho Industries LP to carry out engineering and construction activities associated with the Program.

About Sable Resources Ltd.

Sable owns the Baker gold project comprising 66 square kilometers of mineral tenure and mining leases, including the past producing Baker and Shasta mines, and the 250 ton-per-day Baker mill and tailings facility. The project is located in north-central British Columbia, Canada and is road accessible.

For more information:
Tom Obradovich, President & CEO
Tel (416) 985-7140
Or visit

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.