Sable Announces Osisko Acquisition of 1% NSR for $5.5 Million
Sable Announces Osisko Acquisition of 1%
NSR for $5.5 Million
VANCOUVER, BC,
Oct. 13, 2020
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company")
(TSXV: SAE) (OTCQB: SBLRF) is pleased to announce that Osisko Gold Royalties Ltd. ("Osisko")
has exercised its right to acquire a second 1% net smelter return royalty ("NSR") through the
payment of
$5.5 million
pursuant to the Royalty Purchase Agreement entered into between the
Company and Osisko in
September 2019
(see press release dated
August 29, 2019
), and as
amended on
October 13, 2020
. The NSR will extend to all minerals produced from the Company's
current properties, as well as any future properties acquired by the Company prior to
September 27,
2023
.
Ruben Padilla
, CEO of Sable stated, "Osisko's decision to exercise their option to acquire a second
1% NSR clearly demonstrates the confidence of this leading mid-tier royalty company in Sable's
capability to find new ore deposits. The proceeds of this transaction provide a significant non-
dilutive addition to our already strong cash position allowing Sable to advance aggressively to drill
multiple targets commencing with the high-grade El Fierro project located in San Juan Province,
Argentina
."
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the discovery of new precious metal
projects through systematic exploration in endowed terranes located in favorable, established mining
jurisdictions. Sable's main focus is developing its large portfolio of new greenfields projects to
resource stage utilizing its Upper Level Epithermal Strategy. Sable is actively exploring the San Juan
Regional Program (68,718ha) incorporating the Don Julio Project and the El Fierro Project in San
Juan Province, Argentina and the Mexico Regional Program (1.16Mha in application, 39,000ha titled)
incorporating the Margarita, Vinata and El Escarpe projects.
Related link:
sableresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in
the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of
this release.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to identify forward-looking information
and are based on Sable's current belief or assumptions as to the outcome and timing of such future
events. Actual future results may differ materially. Although such statements are based on
reasonable assumptions of Sable's management, there can be no assurance that any conclusions or
forecasts will prove to be accurate.
While Sable considers these assumptions to be reasonable based on information currently available,
they may prove to be incorrect. Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements to
be materially different from any future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include risks inherent in the exploration and
development of mineral deposits, including risks relating to changes in project parameters as plans
continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to
changes in mineral prices and the worldwide demand for and supply of minerals, risks related to
increased competition and current global financial conditions and the COVID-19 pandemic, access
and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks
relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity
risks.
The forward-looking information contained in this release is made as of the date hereof, and Sable is
not obligated to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable securities laws. Because of
the risks, uncertainties and assumptions contained herein, investors should not place undue reliance
on forward-looking information. The foregoing statements expressly qualify any forward-looking
information contained herein.
SOURCE
Sable Resources Ltd.
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%SEDAR: 00008665E
For further information:
Ruben Padilla, President & CEO at [email protected] or
+1 (520) 488-2520
CO: Sable Resources Ltd.
CNW 09:25e 13-OCT-20