Sable Resources Ltd. announced positive drill results from the drilling program undertaken at the Don Julio Project, located in San Juan Province, Argentina during the months of January through June. Based on these results, the company plans to initiate a second phase drill program under the current Earn-In agreement with a wholly-owned subsidiary of South32 Limited ("South32") at the Don Julio Project. The second phase drill program approved by South32 and Sable comprises a minimum of 5,000 metres, expandable to 7,000 metres depending on results.

Sable plans to start the program immediately following the end of the Argentine winter in October. The principal objective of the next drilling campaign is to continue testing the La Gringa and Punta Cana porphyry targets following the encouraging results from the first phase drill program. The results of the 4,294 metres drilled during the first half of 2022 confirmed the presence of Cu-Au-Mo porphyry style alteration and mineralization associated with the over 5 km long lithocap that extends from La Gringa on the northwest to Poposa on the southeastern limits of the lithocap.

Both the proximal alteration at La Gringa and the porphyry phases intercepted at the Punta Cana porphyry reported long anomalous intercepts. The porphyry mineralization discovered at Don Julio and its associated advanced argillic alteration are part of the 6-10 Ma Andean mineral belt that hosts world class Cu-Mo-Au porphyry deposits south of Don Julio and Au-Ag high sulfidation deposits to the north. The Punta Cana porphyry is the most recent discovery of Sable's geology team.

It consists of discrete outcrops of different phases of diorite dykes hosting A, B, and Maricunga-type veinlets with surface values up to 3 g/t Au, and 0.6% Cu, within a heavily covered terrain. Holes DJ-DH-22-06 and DJ-DH-22-08 were collared from the same pad with different angles targeting the zones with better grades in surface samples. Hole 06 started in poorly mineralized diorites and intrusion breccias only showing minor Maricunga veinlets and then entering better mineralized phases with better defined biotite alteration after 250m depth where the best grades of Au-Cu are observed.

Hole 8 started similarly than hole 06 with scarce mineralization in the first 120m and then going into a medium grained diorite with Maricunga and A-type veinlets containing magnetite, chalcopyrite, and trace bornite. General alteration consists of chlorite, illite, and weak biotite; both holes are affected by carbonate-pyrite likely associated with Intermediate Sulfidation events that seems to introduce significant values of silver to the Au-Cu mineralization. Hole 08 sits on the margin of a large magnetic anomaly that will be tested next season looking for earlier and higher-grade intrusive phases.

Two more holes (DJ-DH-22-04, 05) were drilled targeting a diatreme breccia zone 500m north of the porphyry and did not return anomalous values.