/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES./
TORONTO, Sept. 27, 2019 /CNW/ - Sable Resources Ltd. (the
"Company" or "Sable") (TSX Venture: SAE) announces that as
previously described in its press release dated August 28, 2019, it has entered into a definitive
royalty purchase agreement (the "Royalty Purchase Agreement") with
its wholly-owned Mexican subsidiaries and Osisko Gold Royalties Ltd
("Osisko", OR-T). The initial closing under the Royalty Purchase
Agreement has occurred and Sable has received proceeds in the
amount of $5.0 million. Pursuant to
the completed initial royalty transaction, as guaranteed by Sable,
Exploraciones Sable, S de R.L. de C.V. has granted Osisko a 1% net
smelter returns royalty (the "NSR") on its properties (the "Initial
Properties"). Under the terms of the Royalty Purchase Agreement,
for no additional consideration, the NSR will extend to any
additional properties (the "Future Properties") acquired by Sable
within a period of four years from the closing (the "Maturity
Date").
As part of the Royalty Purchase Agreement, Sable has also
granted Osisko the right to acquire an additional 1% NSR for
$5.5 million on all minerals produced
from Initial Properties and Future Properties. This right expires
on the Maturity Date.
About Sable Resources Ltd.
Sable Resources Ltd. is a well-funded junior grassroots explorer
focused on the discovery of new precious metal projects through
systematic exploration in endowed terrains located in favourable,
established mining jurisdictions. Sables' main focus is developing
its large portfolio of new greenfields projects to resource stage
utilizing their Upper Level Epithermal Strategy. Sable is actively
exploring the San Juan Regional Program (35,000ha) incorporating
the Don Julio Project in San Juan
Province, Argentina, the
Mexico Regional Program (1.16Mha in application, 39,000ha titled),
incorporating the Margarita, Vinata and El Escarpe drill ready
projects.
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. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
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 the Company's current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this
release contains forward-looking information relating to, among
other things, Sable's exploration objectives over its
portfolio.Various assumptions or factors are typically applied in
drawing conclusions or making the forecasts or projections set out
in forward-looking information. Those assumptions and factors are
based on information currently available to the Company. Although
such statements are based on reasonable assumptions of management,
there can be no assurance that any conclusions or forecasts will
prove to be accurate.
The forward-looking information contained in this release is
made as of the date hereof, and the Company 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.