Sable Resources Ltd. announced that further to a Letter of Intent signed in the third quarter of 2020, the company has completed its evaluation and has entered into an option agreement with a private arm's length party in Argentina for properties related to the La Poncha Project (the "Agreement"). La Poncha is located 210 km northwest of San Juan city and strategically situated 50 km south of Sable's El Fierro Project and 69 km north of Don Julio Project. The Agreement comprises 14 properties totaling 18,114 hectares located within a highly prospective belt of Permian and Miocene known mineralization. The project consists of two main zones - Poncha North, where outcropping of Au-Cu porphyry style and high-sulfidation mineralization were only partially tested by previous owners (Golden Arrow Resources Corp., Teck Resources Limited, Genesis Minerals Limited) and Poncha South where most of the historical exploration work was conducted on apparent intermediate sulfidation structures and breccias. In addition to the two main mineralized zones, La Poncha contains multiple additional targets of intermediate sulfidation, and intrusion related affinity, as well as a large extension of totally unexplored ground. Under the terms of the Agreement to acquire 100% of the properties, Sable has agreed to pay an aggregate cash consideration of $1,500,000 over four years ($20,000 on signing the Agreement, $40,000, $80,000, $150,000, and $1,210,000 on the first, second, third and fourth anniversaries) and to grant a 1% NSR that can be acquired by Sable for a single payment of $1,000,000. Additionally, Sable has agreed to invest $1,600,000 in exploration over the four year term ($100,000 in the first year period, $200,000, $500,000 and $800,000, in each of the second, third and fourth year periods). Limited drilling on the property has been undertaken with several encouraging intercepts publicly released at the time. Historical best intercepts at Poncha South announced by prior owner, Golden Arrow, included: 1.21 g/t Au and 3.30 g/t Ag over 266m (129m to 395m) from hole RC-PC-13, including, 2.19 g/t Au and 4.31 g/t Ag over 34m (129m to 163m) including: 4.88 g/t Au and 8.43 g/t Ag over 9 m (142m to 151m); 3.04 g/t Au and 7.16 g/t Ag over 61m (270m to 331m) including: 10.84 g/t Au and 7.93 g/t Ag over 4 m (281m to 285m); and10.91 g/t gold and 24.00 g/t Ag over 8 m (305m to 313m). Golden Arrow released several other anomalous intervals (Golden Arrow press release dated March 27, 2008) and Genesis Minerals also released several anomalous results from Poncha South (Genesis Minerals press releases dated July 30, 2012 and March 25, 2013) including: 4.87 g/t Au, 15.9 g/t Ag and 0.49% Zn over 12.15m and 0.62 g/t Au, 12 g/t Ag, 0.46% Pb and 0.77% Zn over 5.25m from hole 12-PODH-03; 0.58 g/t Au, 102.2 g/t Ag, +1% Cu and 0.55% Zn over 1.95m from hole 12-PODH-02; 0.58 g/t Au over 10.6m from 12-PODH-05; 0.32 g/t Au over 31.6m from 12-PODH-06. Sable notes that the mentioned intercepts correspond to information publicly released by prior owners. Sable's Qualified Person (QP) has not done enough work to verify these historical assay results. Only limited historical drill core is available and no RC chips were preserved by previous operators or owners.