FOR IMMEDIATEW RELEASE Sable Resources Ltd – Announces Proposed Acquisitions of BlueJoint Resources Inc. and Western Canada Greenfields Group Inc.
PRESS RELEASE
FOR IMMEDIATEW RELEASE
Sable Resources Ltd – Announces Proposed Acquisitions of BlueJoint Resources Inc. and
Western Canada Greenfields Group Inc.
November 2, 2017 (Toronto, Ontario): Sable Resources Ltd. (“Sable” or the “Company”) (TSXV:
SAE) is pleased to announce that it has entered into definitive agreements dated as of October 31,
2017 (the “Master Agreements”) providing for the acquisitions (the “ Acquisitions”) by Sable of
BlueJoint Resources Inc. (“ BlueJoint”) and Western Canada Greenfields Group Inc. (“ WCG”).
Each of BlueJoint and WCG are private companies engaged in mineral exploration activities. The
Acquisitions are subject to the satisfaction or waiver of certain customary closing conditions,
including the approval of the TSX Venture Exchange (“TSXV”) and approval by shareholders of
each of BlueJoint and WCG.
Each of the Acquisitions will be structured in the form of a three-cornered amalgamation, pursuant
to which each of BlueJoint and WCG will amalgamate with a wholly -owned subsidiary of Sable,
and all of the issued and outstanding common shares of BlueJoint (“BlueJoint Shares”) and WCG
(“WCG Shares”) will be acquired by Sable from the existing holders thereof in consideration of the
issuance of approximately 0.648 of one common share of Sable (each whole such common share,
a “Sable Share”) for each BlueJoint Share so held, and approximately 0.139 of one Sable Share
for each WCG Share so held, resulting in the issuance of up to approximately 25,111,111 Sable
Shares in the aggregate.
BlueJoint systematically explored 1.74 million hectares in 10 target areas considered highly
prospective and underexplored for precious metal epithermal mineralization in Mexico. This
systematic exploration consisted of 10,623 high- density stream sediment samples, 1636 rock
samples and 1,122 soil samples as well as geologic mapping and mineral occurrence reviews. This
work generated 143 new, previously unknown targets of which 96 await evaluation, 26 have been
recommended for further work and two targets; Vinata and El Escarpe are drill ready and have
completed independent technical reports prepared in compliance with National Ins trument 43-101
(“NI 43-101”). Sable will acquire 100% of the mineral rights that cover these targets consisting of
five mineral applications and one mineral title.
The Vinata and the El Escarpe projects represent high- level, low-sulphidation, epithermal gold -
silver targets consisting of thick, long strike length outcropping veins of opaline to chalcedonic silica.
The veins return consistent characteristic arsenic -antimony-mercury pathfinders anomalies and
low-level silver-gold anomalies, as expected in an upper level epithermal environment. At Vinata,
BlueJoint has mapped and sampled 13km of semi -continuous outcropping veins with widths
averaging 20m. The area around Vinata is covered by thin gravels, which Sable believes has high
potential for the discovery of additional covered veins and the possibility for the discovery for a new
vein district in Mexico. The BlueJoint acquisition adds to Sable’s current Margarita property option
as part of the Mexico Epithermal Strategy.
WCG holds a portfolio of three e arly stage exploration projects located in southern and central
British Colombia. The projects were staked directly by WCG based upon ongoing review of the
B.C. Minfile, ARIS, geological, geophysical and land tenure database. Each of the properties
contains composite mineral occurrence and geochemical -geophysical anomalies that support
potential for the properties to host exploitable mineral resources. The WCG claims add to Sable’s
current BC exploration strategy underway at the Toodoggone, Tulox and Bot Properties.
Also in connection with the closing of the Acquisitions, each of Dr. Ruben Padilla and Dr. Terry
Harbort will be appointed as geoscience consultants to Sable to assist in guiding a financially and
technically disciplined exploration strategy. Dr. Padilla has 30 years of experience working on
target generation, project evaluations, mining geology, and management of exploration programs
with various companies mostly focused on the Americas. He is a Mexican national, and holds a
geological engineering degree from the University of Chihuahua in Mexico and Masters and PhD
degrees from the University of Arizona. Dr. Padilla worked and completed important research at
the La Escondida deposit in Chile where he identified a blind target related with a younger porphyry
event today known as the Escondida Este deposit. With AngloGold Ashanti Limited, he acted as
exploration country manager in Peru and in Colombia and as Chief Geologist for the Americas
exploration group. He was part of the team that discov ered the Colosa and Gramalote deposits in
Colombia. During the last seven years he spent most of his time working on the Superior Province
and the western cordillera of Canada where he participated in various successful exploration
programs and in the modeling of ore deposits for exploration and resource evaluation purposes in
his role as founder and Chief Geologist for Talisker Exploration Services Inc. Dr. Padilla is a director
of UniGold Inc. and Minera Alamos Inc.
Dr. Harbort is a professional economic geologist with 24 years of multi -continent experience in
mineral exploration. He holds a B.Sc (Hons) and PhD in Geology from the University of
Queensland, Australia. His extensive post -graduate experience focusing on applied structural
geology of ore deposits makes Dr. Harbort a specialist in mapping and interpretation of ore
geometries and ore controls covering various types of geological environments with direct
applications to mineral economics from target generation, target definition and evaluation, and
project management. He is a recognized senior member of the discovery team of the La Colosa
and Gramalote deposits for AngloGold Ashanti Limited where he worked for 9 years. In 2010, Dr.
Harbort was a founder and is Vice President - Exploration of Talisker Exploration Services Inc., an
exploration management company providing international exploration consulting in M & A and
exploration strategy, project evaluation, target generation and exploration program design and
implementation for various companies including Osisko Gold Royalties and their related
companies. Dr. Harbort is currently Chief Geoscientist of Barkerville Gold Mines Ltd. where he has
been instrumental in unravelling the complex controls on mineralisation in the Barkerville gold
district. Dr. Harbort is a director of Sable and IDM Mining.
“With their extensive experience and team building abilities, Terry and Ruben will be a tremendous
addition to Sable,” stated Tom Obradovich, President and CEO of Sable. “Their operational,
technical and geological expertise in the Americas and particularly in BC and Mexico will be
invaluable to Sable and a key component for the Company's development”.
The Master Agreements contain customary terms and conditions for transactions of this nature,
including representations and warranties of Sable, BlueJoint and WCG and covenants applicable
to each such entity until closing of the Acquisitions regarding their respective businesses and
affairs. Complete details of the terms of the Acquisitions are set out in the Master Agreements,
which will be filed by Sable on SEDAR at www.sedar.com.
The Acquisitions are considered to be non-arm’s length transactions in accordance with the policies
of the TSX Venture Exchange, as Dr. Terry Harbort is both a director of Sable and a shareholder
of each of WCG and BlueJoint.
All scientific and technical information contained her ein has been prepared under the supervision
of William Yeomans, P.Geo a “qualified person” within the meaning of NI 43-101.
For more information:
Tom Obradovich, President & CEO
Tel (416) 985-7140
Or visit http://www.sableresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
This news release contains certain forward-looking information and statements within the meaning of
applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate",
"may", "might", "will", "project", "should", "believe", "plans ", "intends" and similar expressions are
intended to identify forward- looking information and/or statements. Forward- looking statements
and/or information are based on a number of material factors, expectations and/or assumptions of Sable
which have been used to develop such statements and/or information but which may prove to be
incorrect. Although Sable believes that the expectations reflected in such forward- looking statements
and/or information are reasonable, undue reliance should not be placed on forward-looking statements
as Sable can give no assurance that such expectations will prove to be correct. In addition to other
factors and assumptions which may be identified herein, assumptions have been made regarding, among
other things: that the Acquisitions will be effected as currently proposed, and that all requisite
shareholder, regulatory and third party consents will be obtained in connection therewith in form and
substance acceptable to each of Sable, BlueJoint and WCG; and the anticipated timing of the
Acquisitions and the expected benefits of the Acquisitions. The forward- looking information and
statements included in this news release are not guarantees of future performance and should not be
unduly relied upon. Such information and/or statement s, including the assumptions made in respect
thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results
and/or events to differ materially from those anticipated in such forward- looking information and/or
statements including, without limitation: risks associated with the failure to complete the Acquisitions,
in each as currently proposed or at all; the uncertainty of obtaining all applicable regulatory and
shareholder approvals, and/or certain other risks detailed from time-to-time in Sable’s public disclosure
documents. Furthermore, the forward-looking statements contained in this news release are made as at
the date of this news release and Sable does not undertake any obligations to publicly update and/or
revise any of the included forward- looking statements, whether as a result of additional information,
future events and/or otherwise, except as may be required by applicable securities laws.