Sable Resources Ltd. provided an update on the just completed 2023-2024 field season at the Don Julio Project in San Juan, Argentina. All exploration expenditures at Don Julio are fully funded under the Earn-In Agreement between the Company and a subsidiary of South32 Limited, signed in 2021. 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 NW underneath rocks with strong pathfinder anomalies such as Mo, As, Sb, Te, Bi, S . 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 m.a.s.l. The Colorado IP anomaly seems to be connected with the previously known Colorado breccia; a magmatic hydrothermal breccia outcropping at 4,900 m.a.s.l. which contains mineralized porphyry fragments and is strongly affected by advanced argillic alteration, and that has returned values up to 3.9% Cu and 13 g/t Au (Figure 3). The new Colorado chargeability anomaly is located 3.2km 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 next drilling campaign. 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 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 a subsidiary of South32 to jointly explore the Don Julio project.