Sabre Resources : Aeromagnetic Survey at Bonanza Gold Project Postponed

ASX ANNOUNCEMENT

11 February 2020

ASX code: SBR

Aeromagnetic Survey at Bonanza Gold Project Postponed

Highlights:

• Aeromagnetic survey contractor attended site at the Bonanza Gold Project but was forced to postpone the survey because of inclement weather associated with ex-Tropical Cyclone Damien.
• The survey will now take place when weather conditions improve.

Figure 1: Location plan showing planned aeromagnetic survey area

Sabre Resources Limited (Company and Sabre) engaged a geophysical contractor to undertake a detailed aeromagnetic survey on Exploration Licence E57/1125 (Bonanza Gold Project) located immediately west of Spectrum Metals' Penny West Mine.

The contractor arrived on site on 7 February 2020 to commence the survey, however, increasing wind speed forecast along the track of ex-Tropical Cyclone Damien resulted in the survey having to be postponed. The survey will now be rescheduled for when weather conditions improve.

The magnetic survey is planned to be conducted over an area of 2km by 3km in the northeast corner of E57/1125 with a line spacing of 20m for a total of 300 line kilometres (Figure 1). Once the data has been acquired, it will be processed, imaged and interpreted to generate targets for field testing.

ENDS

For further information contact:

Martin Stein

Company Secretary

P: [phone]