Wire Services Sable Resources Announces Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
WIRE SERVICES
SABLE RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia, June 13, 2017 – Sable Resources Ltd. (NEX: SAE.H) – (the "Company" or
“Sable”) is pleased to announce the offering, by way of non- brokered private placement, of up to 2,500,000
“flow-through” units (the “ Units”) at a price of C $0.20 per Unit, for aggregate gross proceeds of up to
C$500,000 (the “Offering”).
Each Unit will consist of one “flow-through” common share of the Company and one common share purchase
warrant (a “ Warrant”). Each Warrant will entitle the holder thereof to acquire one common share of the
Company (which will not be a “flow -through” common share) at an exercise price of C$0.30 until one year
from the date of issuance.
The gross proceeds of the Offering will be used by the Company to incur Canadian exploration expenses (the
“Qualifying Expenditures”) on its properties located in Canada. The Company will renounce the Qualifying
Expenditures with an effective date of not later than December 31, 2017.
The closing of the Offering is expected to occur on or about June 24, 2017 and is subject to the completion of
formal documentation and the approval of the NEX Board of the TSX Venture Exchange. Pursuant to
Canadian securities laws, any securities issued in the Offering will be subject to a hold period of four months
plus one day from the date of issuance.
The Company would also like to take this opportunity to update shareholders with respect to outstanding
British Columbia Ministry of Energy and Mines (“Ministry”) orders related to the Baker Property. The Baker
Tailings Storage Facility (“TSF”) has been the subject of several outstanding orders as mentioned in the
Company’s November 16, 2016 press release. Over the winter the Ministry contracted Norwest Corporation as
engineering consultants to undertake a Dam Safety Review (“DSR”) of the Company’s TSF. The DSR was
funded by a portion of the Company’s reclamation bond posted for the facility. The unused portion of the
reclamation bond will remain posted as reclamation security for the site. The Company has had productive
discussions with the Ministry to cooperate and correct outstanding orders and on May 29th, 2017 received
communication from the Ministry accepting the Company’s proposed Work Program (“Program”). The
Program will consist of a dam breach and inundation study, a geotechnical investigation comprised of drilling,
and design and construction of engineered surface water diversion channels and emergency spillways. The
Company believes it is well funded to complete the required activity and has retained Tetra Tech Inc and Chu
Cho Industries LP to carry out engineering and construction activities associated with the Program.
About Sable Resources Ltd.
Sable owns the Baker gold project comprising 66 square kilometers of mineral tenure and mining leases, including
the past producing Baker and Shasta mines, and the 250 ton -per-day Baker mill and tailings facility. The project is
located in north-central British Columbia, Canada and is road accessible.
For more information:
Tom Obradovich, President & CEO
Tel (416) 985-7140
Or visit http://www.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.
This news release contains forward- looking information within the meaning of applicable
securities legislation. Forward-looking inform ation is typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. Such statements include, without limitation,
statements regarding the future results of operations, performance and achievements of the
Company, receipt of all necessary regulatory approvals required in connection with the Offering,
closing date of the Offering, completion of the Offering, use of proceeds, renunciation of
Qualifying Expenditures, amount of Insider Participation and advancement of the Company’s
properties. Although the Company believes that such statements are reasonable, it can give no
assurances that such expectations will prove to be correct. All such forward-looking information
is based on certain assumptions and analyses made by the Company’s management in light of
their experience and perception of historical trends, current conditions and expected future
developments, as well as other factors management believes are appropriate in the
circumstances. Important factors that could cause actual results to differ from this forward-
looking information include that fact that mineral exploration involves a high degree of risk and is
highly speculative in nature, few properties that are explored are ultimately developed into
producing mines, geological factors, the actual results and timing of current and proposed future
exploration programs, changes in project parameters as plans continue to be evaluated, as well
as those factors described under the heading "Risk Factors” in the Company’s most recently
filed management’s discussion and analysis. The Company undertakes no obligation to update
or reissue forward- looking information as a result of new informat ion or events, except as
required by applicable securities laws. Readers are cautioned not to place undue reliance on
forward-looking information.
This news release does not constitute an offer to purchase securities. The securities offered in
the Offering have not been and will not be registered under the United States Securities Act of
1933, as amended, or any state securities laws and may not be offered or sold in the United
States or to, or for the benefit or account of, a U.S. person, except pursuant to an available
exemption from such registration requirements.