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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, July 02, 2025 (GLOBE NEWSWIRE) -- Sable Resources Ltd. ("Sable” or the "Company”) (TSXV:SAE | OTCQB:SBLRF) is pleased to announce that Moxico Resources plc ("Moxico”) has agreed to acquire a 9.9% ownership stake in the Company through the purchase of 31,800,000 common shares ("Shares”) at C$0.055 per Share for a total subscription of C$1,749,000 (the "Private Placement”), subject to the terms and conditions of a subscription agreement entered into between the Company and Moxico on the date hereof (the "Subscription Agreement”). Moxico is an unlisted public mining company headquartered in the United Kingdom. As previously announced, the Company and its subsidiary entered into a binding letter agreement with Moxico that granted Moxico an exclusive option to acquire 51% of the Company’s El Fierro Project and Cerro-Negro Property, subject to certain exploration and expenditure terms. See the Company’s press release dated February 27, 2025 for additional details about Moxico and this option transaction.
Ruben Padilla, Sable’s President and CEO stated, "We are very pleased with Moxico’s support of Sable’s San Juan projects and the Company’s strategy.”
Alan Davies, Moxico’s CEO stated, "We are very pleased to make this strategic investment in Sable who is an excellent operating partner of Moxico’s in San Juan.”
Pursuant to the terms of the Subscription Agreement and subject to completion of the Private Placement, Sable has also agreed to grant Moxico customary participation and anti-dilution rights to enable Moxico to maintain its pro rata equity interest in the Company for so long as Moxico maintains a minimum ownership threshold.
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The Private Placement is expected to close the first week of July 2025, and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange. The Shares issued under the Private Placement will be subject to a four month hold period from the date of issue in accordance with applicable securities laws.
The proceeds from the Private Placement will be used by the Company for exploration and general corporate and working capital purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the discovery of Tier-One new precious metal and copper projects through systematic exploration in endowed terranes located in favorable, established mining jurisdictions. Sable’s focus is developing its large portfolio of new Greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, and Cerro Negro projects in San Juan province, Argentina and the Copper Queen (15,133 ha), Copper Prince (3,980 ha), and Core Mountain (1,925 ha) properties in British Columbia.
For further information, please contact:
Ruben Padilla, President & CEO at [email protected] or +1 (520) 488-2520
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 and includes, but is not limited to, statements regarding the Private Placement, including the expected closing date and use of proceeds. 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, 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.
