Sable Resources — Regulatory Filings 2020

Sep 15, 2020

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Sable Receives up to 1,946.5 g/t Silver Equivalent from 0.25 m Channel Sample from Fierro Alto Zone

VANCOUVER, Sept. 15, 2020 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) is pleased to announce that it has received new results from the Fierro Alto zone at the El Fierro project in San Juan Argentina. More than 1.2 km of veining was mapped at Fierro Alto, defining two parallel structures (F vein and G vein) each outcropping for over 500 metres and three additional high-grade structures (J vein, K vein, and L vein) that will require further trenching for definition along strike. The Fierro Alto zone is located 6 km west of the Fierro Bajo zone where highgrade results were previously released by the Company (see Sable press release of August 12, 2020).

Highlighted Results:

K Vein

• 1,475.07 g/t AgEq (685 g/t Ag; 20% Pb; 1.56 g/t Au) Grab sample

• 979.94 g/t AgEq (329 g/t Ag; 16.8% Pb; 0.89 g/t Au; 0.21% Cu) Grab sample

F Vein – North Branch

513.34 g/t AgEq (145 g/t Ag; 8.76% Pb; 0.258 g/t Au; 1.4% Zn) Channel sample over 0.6m 1,300.40 g/t AgEq (529 g/t Ag; 20% Pb; 0.673 g/t Au; 0.542% Zn; 0.31% Cu) Grab sample

F Vein – South Branch

• 750.2 g/t AgEq (292 g/t Ag; 7.41% Pb; 2.15 g/t Au; 0.368% Zn; 0.17% Cu) Channel sample over 0.35m

• 1,407.97 g/t AgEq (516 g/t Ag; 20% Pb; 2.45 g/t Au; 0.169% Zn; 0.189% Cu) Channel sample over 0.2m

G Vein

• 1,946.50 g/t AgEq (1,070 g/t Ag; 20% Pb; 0.38 g/t Au; 1.03% Zn; 1.33% Cu) Channel sample over 0.25m

• 430.19 g/t AgEq (129 g/t Ag; 3.21% Pb; 1.94 g/t Au; 0.22% Zn; 0.22% Cu) Channel sample over 0.45m

• 360.51 g/t AgEq (76.4 g/t Ag; 2.47% Pb; 2.04 g/t Au; 0.22% Zn; 0.21% Cu) Grab sample 276.12 g/t AgEq (50.3 g/t Ag; 1.36% Pb; 2.05 g/t Au; 0.22% Zn) Channel sample over 0.40m 243.48 g/t AgEq (105 g/t Ag; 0.75% Pb; 0.371 g/t Au; 0.83% Zn; 0.45% Cu) Grab sample

• 57.84 g/t AgEq (8.6 g/t Ag; 0.584% Pb; 0.212 g/t Au; 0.295% Zn) Channel sample over 0.9m 112.86 g/t AgEq (17.05 g/t Ag; 0.927% Pb; 0.599 g/t Au; 0.363% Zn) Channel sample over 1.7m

L Vein

515.95 g/t AgEq (86.6 g/t Ag; 12.3% Pb; 0.058 g/t Au; 0.46% Zn) Channel sample over 0.25m

J Vein

1,150.13 g/t AgEq (445 g/t Ag; 20% Pb; 0.547 g/t Au) Grab sample

Ruben Padilla, President and CEO of Sable commented, "These results confirm a second, welldeveloped, high-grade vein zone at the El Fierro Project, with similar mineralisation to that identified at Fierro Bajo six kilometres away. We consider these areas to be part of a larger gold-silver mineralized district and preparations are currently underway to complete a geophysical survey to define additional vein networks both adjacent to and along strike the current project areas."

Work completed at Fierro Alto consisted of 1:5,000 geological mapping and collection of 89 rock samples which are presented in Table 1. Mineralization at Fierro Alto is associated with sericitesilica-sulphide veins hosted within Carboniferous schists and Miocene ignimbrite flows. Results from the 89 samples show individual values up to 1,070 g/t Ag; 3.57 g/t Au; 1.4% Zn; and multiple values between 5% and 20% Pb, including five with >20% Pb.

The Company notes that selected grab samples are not necessarily representative of the mineralization hosted at El Fierro. The channel samples highlighted above have been taken from accessible places where the veins were not fully mined; grab samples were collected from waste piles outside of the adits.

Maps and tables with the details of highlighted results are available on Sable's website ( www.sableresources.com). Silver equivalent is calculated considering a 100% recovery and based on prices of USD17.89 per Oz for Silver; USD 1,500 per Oz for Gold; USD0.86 per pound for Lead; USD1.08 per pound for Zinc; and USD2.80 per pound for Copper; when a width is shown in the results, the samples are channels perpendicular to the structures representing true width.

The El Fierro Project is located 250 km northwest of San Juan, Argentina and 120 km north of Sable's Don Julio Project in one of the best-known historical mining districts in the San Juan province. The El Fierro Project consists of two main known mineralized areas, Fierro Alto and Fierro Bajo over a trend of 6 km. Both areas host a significant number of old mining workings where silver, lead and zinc were intermittently mined since the late 1800's until the 1960s decade; the property has never been drilled. Sable recently signed two option agreements covering 6,054 hectares and the Company controls all the historically known mineralized zones at El Fierro (Sable PR, May 14[th] , 2020).

Sable is providing an opportunity for shareholders and other interested parties to participate in a Webinar to be held at 4 pm ET on Thursday, September 17. Register in advance for the Webinar at

https://zoom.us/webinar/register/WN_P3peFTnuSxmcs2DnZ8AxUg. After registering you will receive a confirmation email containing information about joining the Webinar.

ABOUT SABLE RESOURCES LTD.

Sable (sableresources.com) 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 their 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; the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Margarita, Vinata and El Escarpe projects; and the

Scorpius Project in Ayacucho, Peru.

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Figure 1. Significant results at El Fierro Alto zone (CNW Group/Sable Resources Ltd.)

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Figure 2. Total sampling at Fierro Bajo and Fierro Alto zones with Ag values (CNW Group/Sable Resources Ltd.)

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.

SAMPLE PREPARATION AND QA/QC

Sample preparation for projects in Argentina is carried out by ALS Chemex Argentina, a subsidiary of ALS Minerals, at its facility located in Mendoza, Argentina. Analyses are carried out at their laboratory in Lima, Peru. Sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (code PREP-31).

Gold was analyzed by fire assay of a 30 g sample split with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES); multi-elements were analyzed by an aqua regia digestion of a 1 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 35 elements (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, Hg, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn) (codes Au-ICP21 and ME-ICP41). This digestion method dissolves most minerals but not all elements are quantitatively extracted in some sample matrices. Over limit Ag, Cu, Pb, Zn OG46 analyses are conducted when samples exceed the upper detection limits; this method includes Aqua Regia digestion and ICP-AES finish. Method Ag-GRA21 which includes Fire Assay with gravimetric finish is applied when Ag exceeds

1,500 g/t. Control samples (standards, blanks, and duplicates) are inserted systematically and their results evaluated according to the Company protocols.

QUALIFIED PERSON

Luis Arteaga M.Sc. P.Geo., Vice President Exploration is the Company's Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this news 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.

Complete Results

Sample	Northing	Easting	Elevation	Type	Size (m)	Structure	Ag_ppm	Au_ppm	Cu_ppm	Pb_ppm	Zn_ppm
E13242	6742539	2453361	4253	Channel	1	Vein F	2	0.022	45	989	1,140
E13243	6742534	2453355	4252	Channel	1.6	Vein F	3.8	0.047	90	2,240	819
E13244	6742513	2453271	4287	Channel	0.6	Vein F	1.6	0.001	405	366	1,440
E13245	6742501	2453241	4302	Channel	1	Vein F	2.7	0.04	126	2,160	1,050
E13246	6742489	2453211	4306	Channel	1.1	Vein F	0.9	0.01	182	660	1,210
E13248	6742484	2453212	4341	Grab		Vein F	99	3.57	914	44,300	1,500
E13249	6742470	2453136	4329	Channel	0.8	Vein F	0.8	0.009	30	400	455
E13250	6742472	2453131	4335	Channel	0.8	Vein F	1	0.005	50	1,150	994
E13251	6742372	2453716	4331	Channel	1.2	Vein L	0.6	0.008	30	95	235
E13252	6742587	2453620	4208	Panel	1.8	Vein L	0.3	0.003	18	207	254
E13253	6742571	2453586	4219	Channel	1.7	Vein L	1.3	0.003	20	780	1,520
E13254	6742567	2453509	4240	Channel	0.3	Vein L	29	0.307	143	24,000	739
E13256	6742700	2453438	4274	Channel	0.6		8.4	0.2	110	2,520	978
E13257	6742700	2453438	4274	Channel	0.5		10	0.469	171	5,790	1,420
E13258	6742701	2453438	4274	Channel	2		0.8	0.008	74	173	795
E13259	6742703	2453438	4274	Channel	2		1.4	0.01	66	61	699
E13260	6742705	2453438	4274	Channel	2		0.4	0.004	16	96	207
E13262	6742707	2453441	4274	Channel	2		0.6	0.018	30	328	518
E13263	6742708	2453441	4274	Channel	0.2		1.8	0.312	87	3,520	1,430

E13264	6742735	2453445	4283	Grab			7.7	0.009	9	690	36
E13265	6742721	2453322	4302	Grab			6.7	0.013	184	3,050	801
E13266	6742752	2453300	4315	Grab			0.2	0.057	9	27	99
E13267	6742810	2453119	4366	Channel	1		0.3	0.01	186	3,380	156
E13268	6742827	2453075	4378	Grab			0.1	0.037	56	261	9
E13270	6742882	2452840	4431	Grab			0.5	0.002	14	45	10
E13271	6743295	2452875	4525	Grab		VeinJ	1.7	0.018	80	1,000	126
E13272	6743295	2452871	4525	Grab		VeinJ	445	0.547	422	200,000	161
Sample	Northing	Easting	Elevation	Type	Size (m)	Structure	Ag_ppm	Au_ppm	Cu_ppm	Pb_ppm	Zn_ppm
E13273	6743217	2453302	4489	Grab			1.6	0.072	105	1,890	342
E13274	6743194	2453372	4505	Grab			5.3	0.408	414	316	91
E13275	6743159	2453461	4531	Grab			1.2	0.016	20	492	53
E13279	6742447	2453069	4358	Channel	0.9	Vein F	1.3	0.01	47	1,740	1,365
E13281	6742480	2453007	4372	Grab		Vein F	529	0.673	3,110	200,000	5,420
E13282	6742482	2452985	4375	Channel	0.6	Vein F	145	0.258	460	87,600	14,000
E13283	6742484	2452923	4389	Channel	1.1	Vein F	0.3	0.003	9	116	17
E13284	6742429	2452974	4378	Channel	1.6	Vein F	4.3	0.114	61	1,920	1,025
E13285	6742433	2452986	4364	Channel	0.35	Vein F	292	2.15	1,720	74,100	3,680
E13287	6742430	2453004	4362	Channel	0.2	Vein F	516	2.45	1,890	200,000	1,695
E13288	6742430	2453015	4362	Channel	0.4	Vein F	5.2	0.035	125	1,770	1,070
E13289	6742429	2453015	4362	Channel	1.6	Vein F	1	0.023	14	413	2,060
E13290	6742411	2453280	4247	Channel	0.4	VeinG	50.3	2.05	551	13,600	2,290
E13291	6742412	2453287	4248	Channel	0.7	VeinG	0.5	0.005	15	248	1,130
E13292	6742400	2453251	4260	Channel	0.45	VeinG	129	1.945	2,210	32,100	2,210
E13293	6742387	2453162	4283	Channel	0.8	VeinG	33.2	1.265	589	17,150	1,940
E13294	6742386	2453165	4279	Channel	0.9	Vein G	2.7	0.007	102	2,270	5,140
E13296	6742382	2453146	4287	Channel	0.9	VeinG	8.6	0.212	262	5,840	2,950
E13297	6742413	2453348	4246	Channel	0.25	VeinG	1070	0.38	13,350	200,000	10,300
E13298	6742402	2453413	4265	Grab		VeinG	76.4	2.04	2,170	24,700	2,220
E13299	6742368	2453546	4293	Grab		Vein G	105	0.371	4,520	7,530	8,300
E13300	6742366	2453695	4331	Channel	1.5		0.5	0.003	34	74	219
E13701	6743271	2453541	4577	Grab		Vein K	329	0.889	2,150	168,000	645
E13702	6743292	2453486	4584	Grab		Vein K	685	1.56	280	200,000	402
E13703	6743288	2453498	4586	Channel	1.8	Vein K	2.5	0.023	40	2,770	666
E13704	6743366	2454662	4600	Grab			1.2	0.006	13	415	42
E13705	6743322	2454543	4547	Grab			1.8	0.009	13	588	38
E13706	6743164	2454462	4429	Grab			0.1	0.003	123	37	59
Sample	Northing	Easting	Elevation	Type	Size (m)	Structure	Ag_ppm	Au_ppm	Cu_ppm	Pb_ppm	Zn_ppm
E13708	6742665	2453493	4307	Channel	2		3.7	0.092	22	1260	22
E13709	6742701	2453507	4312	Panel	1		0.2	0.004	13	42	185
E13710	6742725	2453518	4325	Panel	1		1.1	0.002	13	1,010	7
E13711	6742812	2453532	4345	Grab			2	0.328	333	65	30
E13712	6742873	2453562	4363	Channel	0.5		1.5	0.103	44	902	296
E13713	6742995	2453568	4421	Channel	0.4		0.2	0.003	235	35	2,560
E13714	6743024	2453579	4437	Grab			0.4	0.04	15	23	36
E13716	6742995	2453504	4434	Grab			0.1	0.011	26	10	26
E13717	6742953	2453623	4352	Grab			2.9	0.076	15	946	100
E13718	6742956	2453725	4373	Grab			0.6	0.041	64	160	251
E13719	6743098	2454045	4348	Grab			12.8	0.093	36	916	165
E13720	6743096	2454044	4347	Grab			9.3	0.118	10	564	68
E13721	6743090	2454075	4345	Grab			11	0.019	32	623	541
E13722	6742342	2453324	4288	Channel	1.1		0.1	0.002	43	31	120
E13723	6742266	2453256	4317	Grab			0.4	0.006	17	44	73
E13724	6742213	2453205	4330	Channel	0.4		0.7	0.046	21	290	503
E13726	6742108	2453117	4374	Grab			0.1	0.0005	7	25	23
E13727	6741880	2452986	4478	Grab			0.1	0.001	6	17	42
E13728	6741690	2452876	4535	Grab			0.1	0.0005	12	14	11
E13729	6741629	2452844	4552	Grab			0.3	0.0005	115	38	28
E13730	6741456	2452781	4623	Channel	1		0.4	0.0005	15	424	138
E13731	6741588	2451666	4491	Grab			1	0.002	12	40	8
E13733	6741028	2451594	4507	Grab			0.1	0.001	6	249	192
E13734	6742451	2454977	4114	Grab			1.6	0.004	18	46	11
E13735	6742135	2456453	3981	Grab			1.3	0.046	32	48	77
E13736	6742518	2457179	3871	Grab			47.5	0.164	796	175	171
E13737	6742913	2457489	3828	Grab			20.8	0.046	1,195	394	1,625
E13751	6741938	2452297	4415	Grab			0.1	0.001	5	78	225
Sample	Northing	Easting	Elevation	Type	Size (m)	Structure	Ag_ppm	Au_ppm	Cu_ppm	Pb_ppm	Zn_ppm
E13752	6741967	2452266	4425	Grab			2.4	0.005	52	3,110	542
E13753	6741957	2452216	4430	Channel	0.25		86.6	0.058	874	123,500	4,640

E13754	6741966	2452192	4429	Channel	1.2		3.3	0.007	190	3,620	1,795
E13756	6741438	2452406	4439	Grab			0.2	0.0005	11	172	103
E13757	6742602	2454085	4209	Grab			2.1	0.023	33	299	376
E13758	6742622	2454040	4207	Panel	2		0.7	0.003	10	70	63

SOURCE Sable Resources Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2020/15/c7939.html

%SEDAR: 00008665E

For further information: Ruben Padilla, President & CEO at ruben.padilla@sableresources.com or +1 (520) 488-2520

CO: Sable Resources Ltd.

CNW 07:00e 15-SEP-20