SABRE RESOURCES LIMITED — AGM Information 2012

Nov 29, 2012

Exploring for Copper in the Otavi Mountain Land, Namibia

==> picture [386 x 69] intentionally omitted <==

==> picture [751 x 195] intentionally omitted <==

==> picture [751 x 196] intentionally omitted <==

==> picture [781 x 5] intentionally omitted <==

explore extend extract

==> picture [781 x 73] intentionally omitted <==

----- Start of picture text -----

Disclaimer & Declaration
explore extend extract
----- End of picture text -----

This presentation has been prepared by Sabre Resources Ltd (“SBR”) as a summary of the company’s exploration and development activities, with particular reference to the Otavi Mountain Land Copper & Base Metals Project (‘OML’) in Namibia.

No Offer of Securities

The presentation is not, and should not, be considered as an offer or invitation to subscribe for, or purchase any securities in SBR, or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in SBR will be entered into on the basis of this presentation.

Forward Looking Statements

This presentation contains certain forward looking statements which have not been based solely on historical facts but, rather, on SBR’s current expectations about future events and on a number of assumptions which are subject to significant uncertainties and contingencies many of which are outside the control of SBR and its directors, officers and advisers.

Reliance on Third Party Information

Due care and attention has been taken in the preparation of this presentation. However, the information contained in this presentation (other than as specifically stated) has not been independently verified nor has it been audited. Accordingly, the company does not warrant or represent that the information contained in this presentation is accurate or complete. To the fullest extent permitted by law, no liability, however arising, will be accepted by SBR or its directors, officers or advisers, for the fairness, accuracy or completeness of the information contained in this presentation.

Competent Person Declaration

The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Timothy Putt of Sabre Resources Ltd, who is a member of The Australasian Institute of Geoscientists. Mr Putt has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves”. Mr Putt consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

Slide 2

Presentation to the SBR Annual General Meeting, November 2012

Sabre Resources in Namibia

explore extend extract

==> picture [781 x 5] intentionally omitted <==

• Sabre ( ASX: SBR ) is an ASX-listed copper focused, mineral exploration & development company,

• Sabre’s main asset is the Otavi Mountain Land (OML) Copper & Base Metal Project in northern Namibia,

• In the mid 20[th] Century the OML was one of the worlds significant base metal provinces, including high-grade production from:

• Tsumeb - 24.9 Mt @ 5.5% Cu, 11.8% Pb & 171 gpt Ag, Kombat - 8.7 Mt @ 3.1% Cu, 1.1% Pb & 26 gpt Ag.

• Sabre controls over 800 km[2] of the central OML,

• Sabre’s OML project covers four significant & highly prospective base metal rich trends, each covering more than 25 km of strike,

• Sabre is developing a pipeline of projects, ranging from green fields targets through to resource delineation.

==> picture [234 x 399] intentionally omitted <==

----- Start of picture text -----

Otavi Mountain
Land
Swakopmund
Windhoek
Namibia
EPL 3542
EPL 3540
----- End of picture text -----

Slide 3

Presentation to the SBR Annual General Meeting, November 2012

Why Copper?

explore extend extract

==> picture [781 x 5] intentionally omitted <==

• Demand increasing for copper as the construction cycle matures in Asia,

• Major mining houses continue to show long term confidence in copper e.g. BHP, Rio Tinto, Xstrata,

• -

• Copper remains a ‘metal in demand’ used in tubing, alloys, telecommunications cabling, electric motors , power cables and wiring,

==> picture [207 x 199] intentionally omitted <==

• Production falls forecast due to falling head grades in some of the worlds largest mines including Freeport’s Grasberg mine (Indonesia) and BHP/Rio’s Escondida mine (Chile),

• Increasing demand reflected in falls in both LME & Shanghai Futures Exchange stockpiles over the past 12 months,

• Most new sources of supply are several years away from production, creating a potential, medium term, supply DEFICIT .

==> picture [207 x 58] intentionally omitted <==

==> picture [207 x 132] intentionally omitted <==

Slide 4

Presentation to the SBR Annual General Meeting, November 2012

Copper in the OML

*Pricing data courtesy of the USGS

explore extend extract TCL – Tsumeb Corporation Ltd

==> picture [727 x 393] intentionally omitted <==

----- Start of picture text -----

$10,000
World War 1 World War 2 Rise of Chinese Economy
Great Depression Cold War
$9,000
Namibian War of Independence SBR in OML
$8,000
2007 – GFC Begins
$7,000
1987 – Goldfields
administering TCL
$6,000
1947 – Newmont 1996 - TCL closes
administering TCL Tsumeb & Kombat
$5,000
$4,000
$3,000
$2,000
Discovery & Mining @ Guchab Recce of Guchab by TCL
$1,000
OMEG Operates Kombat TCL Operation of Kombat Copper Mine Weatherly Operates Kombat
$0
19001901 19101911 19201921 19301931 19401941 19501951 19601961Commercial Mining @ Kombat (8.7 Mt @ 3.1% Copper)19701971 19801981 1919910 20019101 20191110
----- End of picture text -----

Slide 5

Presentation to the SBR Annual General Meeting, November 2012

Operating in Namibia

explore extend extract

==> picture [781 x 5] intentionally omitted <==

• Namibia has a stable and democratic government,

• Proven significant supplier of uranium, diamonds and copper with highly prospective geology,

• Long established mining law and culture,

• Mining/ exploration ‘friendly’ environment, with a royalty rate of 3%, and mining providing more than 13% of GDP,

• Namibia boasts an excellent infrastructure network including high voltage power, telecommunications, reticulated water, paved roads, rail to port and mining infrastructure,

• Established base metal mining industry, including significant copper mines and processing facilities at Otjihase & Matchless near Windhoek, as well as Tsumeb & Kombat in the Otavi Mountain Land,

• The Tsumeb Mine & Smelter Complex lies only 45 km to the north of the project area and is one of only five operating copper smelters in Africa.

==> picture [186 x 397] intentionally omitted <==

Slide 6

Presentation to the SBR Annual General Meeting, November 2012

Mining Infrastructure in the OML

explore extend extract

==> picture [781 x 5] intentionally omitted <==

A key advantage of the OML is its long history of mining, with the associated culture and processing infrastructure. This includes:

• –

• Tsumeb Copper Smelter (Dundee PM) US$145 million upgrade in progress to double capacity but currently processes 120,000 tonnes of concentrates per annum,

• –

• Tsumeb Concentrator (Weatherly Int) on ‘care & maintenance’, largely intact 560,000 tonnes per annum circuit. Closed in 2008 due to low copper prices,

• –

• Kombat Concentrator (Kombat Copper) detailed engineering review underway with a view to restarting the project. It is a 400,000 tonne per annum circuit, closed in 2008 due to low copper prices,

• –

• Rail network of rail through region, from the port at Walvis Bay to Tsumeb & Grootfontein (with a dedicated siding at Guchab),

• Roads – paved and ‘made’ gravel roads throughout region,

• -

• High Voltage Power power throughout the OML region, sourced internally and from neighbouring countries including Zambia .

==> picture [186 x 397] intentionally omitted <==

Presentation to the SBR Annual General Meeting, November 2012

Slide 7

The Pan African Mobile Belts

explore extend extract

==> picture [781 x 5] intentionally omitted <==

==> picture [157 x 189] intentionally omitted <==

----- Start of picture text -----

Southern
Africa
----- End of picture text -----

==> picture [257 x 217] intentionally omitted <==

----- Start of picture text -----

Angola
Craton
Zimbabwe
Craton
----- End of picture text -----

Otavi Mountain Land Copper Project

==> picture [186 x 18] intentionally omitted <==

----- Start of picture text -----

Namib Copper Belt
----- End of picture text -----

==> picture [180 x 122] intentionally omitted <==

----- Start of picture text -----

Kaapvaal
Craton
----- End of picture text -----

• The Pan African Mobile Belts host some of the worlds most economically significant, and high-grade, copper deposits including the Zambian, Kalahari and Namib Copper Belts,

• • The OML lies on the eastern end of the Namib Copper Belt, on the northern margin of the Damaran Mobile Belt, in southern Africa.

Slide 8

Presentation to the SBR Annual General Meeting, November 2012

Copper Trends in the OML

explore extend extract

==> picture [781 x 5] intentionally omitted <==

==> picture [515 x 385] intentionally omitted <==

• Two key copper trends identified within the OML project area:

• Lucas Post Cu-Pb-V, &

• Kombat Cu-Ag Trends.

• Both trends cover more than 25km of strike and are strongly mineralised.

• Exploration now focused on delineation of resources.

• Diamond drilling in at Guchab & RC progress drilling at Kaskara.

Slide 9

Presentation to the SBR Annual General Meeting, November 2012

Kombat Copper Trend

explore extend extract

==> picture [781 x 5] intentionally omitted <==

==> picture [742 x 212] intentionally omitted <==

----- Start of picture text -----

Baltika
10 kilometres
Gross Otavi
Kupferberg (Excised) Sommerau
Odin Pb-Zn Clubhead Pb-Zn
Guchab Nord
Schlenters
Rietfontein Pb-Zn
Schneiderhohn
Otjirukaku Pb-Zn
Nehlen
Rodgerberg Witvark
KOMBAT MINE Rendezvous
Guchab
Prod: 8.7 Mt @ 3.1% Cu & 26 gpt Ag
Copper Surface Geochemistry (Excised)
----- End of picture text -----

• The Otavi Valley hosts the copper-rich Kombat Trend that takes in numerous high-grade historical copper mines, including the Kombat * and Guchab mines,

• Sabre controls over 40 kilometres of recognised copper-rich stratigraphy along the Kombat Trend,

• Key targets include the historic Guchab and Baltika mining centres, as well as the Nehlen, Rendezvous, Guchab Nord and Witvark prospects,

*excised from the SBR tenement area

Slide 10

Presentation to the SBR Annual General Meeting, November 2012

Guchab Copper Mining Centre

explore extend extract

==> picture [781 x 5] intentionally omitted <==

• The Guchab mining centre was discovered and operated in the early 1900’s,

• The mining area was worked as a series of shallow open pits, box cuts and adits, with the most extensive underground workings in the ‘High Valley’,

• Ores averaged more than 10% copper and were later hand sorted to produce ore grading up to 33% copper,

• Mining in the area ceased in 1925, with only sporadic exploration in the 1950’s and again in the 1970’s,

• Recent shows the mine environs to extend over more exploration

• than 4,000 metres of strike, with surface geochemistry in excess of 1% copper and outcrop sampling at over 10% copper,

• Channel revealed mineralisation over sampling high-grade copper

• significant widths (incl GCTR 002 - 16 m @ 10.16% Cu & 64 gpt Ag).

==> picture [151 x 397] intentionally omitted <==

Slide 11

Presentation to the SBR Annual General Meeting, November 2012

Guchab – Diamond Drilling

explore extend extract

==> picture [781 x 5] intentionally omitted <==

• Sabre initiated a of reconnaissance at Guchab in programme drilling

• July 2012 to test several zones of outcropping mineralisation,

• A diamond rig is being used for this exploration as it is the most portable unit available given the rugged terrain,

• Better results for the drilling programme include:

PAD 1

GCDD0001 107.75 m @ 1.15% Cu & 6.93 gpt Ag GCDD0005 22.20 m @ 3.45% Cu & 29.67 gpt Ag

PAD 2

GCDD0006 14.10 m @ 1.31% Cu & 10.50 gpt Ag

PAD 4

• One hole completed with second in progress visible mineralisation, assays pending for first hole.

• Examining purchase of diamond drill rig to increase productivity.

==> picture [151 x 397] intentionally omitted <==

Slide 12

Presentation to the SBR Annual General Meeting, November 2012

Guchab – Prospects & Drill Pads

explore extend extract

==> picture [781 x 5] intentionally omitted <==

==> picture [755 x 415] intentionally omitted <==

----- Start of picture text -----

Copper in Soils (ppm)
Guchab Mining Centre, Kombat Copper Trend, Otavi Mountain Land.
>5000
1000-4999
500-999
100-499
Schlangental – RC Target Drill Pad 4 – High Valley
Schlangenberg Mine Workings,
Mine Workings, Diamond Drilling
Outcropping Eisernen Hut
Underway
Mineralisation Mine Workings,
Outcropping Rodgerberg
Drill Pad 3
Mineralisation
RUUG 005 (Underground)
13 m @ 5.32% Cu & 192 gpt Ag
Drill Pad 2 – Western Workings
GCDD0006 – 14.10 m @ 1.31% Cu & 10.5 gpt Ag
GCTR 015 (Trench)
7 m @ 10.66% Cu & 127.00 gpt Ag
GCTR 011 (Trench)
2 m @ 12.93% Cu & 138 gpt Ag Drill Pad 1 – Eastern Adits
GCDD0001 107.75 m @ 1.15% Cu & 6.9 gpt Ag
GCDD0002 26.56 m @ 1.06% Cu & 6.3 gpt Ag
GCDD0003 18.90 m @ 1.54% Cu & 9.7 gpt Ag
GCDD0004 24.05 m @ 1.29% Cu & 10.9 gpt Ag
GCDD0005 22.20 m @ 3.45% Cu & 29.7 gpt Ag
0 1 km
----- End of picture text -----

Slide 13

Presentation to the SBR Annual General Meeting, November 2012

Guchab – Priority Exploration Area

explore extend extract

==> picture [781 x 5] intentionally omitted <==

==> picture [572 x 399] intentionally omitted <==

----- Start of picture text -----

Drill Pad Two
(Behind Hill)
High Valley
(Drill Pad Four)
Eastern Adits
High Valley
Drill Pad One
Underground
Mine Workings
Lower Valley
Surface Mine
Workings
----- End of picture text -----

==> picture [151 x 397] intentionally omitted <==

Slide 14

Presentation to the SBR Annual General Meeting, November 2012

Guchab – Other Prospects

explore extend extract

==> picture [781 x 5] intentionally omitted <==

Schlangental

• Located in the valley immediately to the west of Guchab,

• Open pit workings in valley floor,

• Mapping shows sub cropping mineralisation on east-west trend,

• Sampling programme underway in preparation for RC drilling.

Eisernen Hut (‘Iron Hat’)

• The ‘Iron Hat’ forms the western portion of the Rodgerberg mining area, immediately adjacent to the Eastern Adits at Guchab,

• ‘Rediscovered ‘by SBR as part of recent reconnaissance work,

• Malachite-chalcocite-quartz stock work & breccia forms an iron-

silica rich cap on a prominent hill overlooking Guchab,

• Minimal previous exploration although some ‘high grade’ mining,

• Mapping & sampling programme in progress in preparation for diamond drilling in 2013.

==> picture [205 x 415] intentionally omitted <==

Slide 15

Presentation to the SBR Annual General Meeting, November 2012

Lucas Post Copper Trend

explore extend extract

==> picture [781 x 5] intentionally omitted <==

==> picture [757 x 211] intentionally omitted <==

----- Start of picture text -----

Teco
Rooikat
Harasib II
Jagers
Tigerschlught Uitsab
Uitsabpad
Kaskara
Driehoek Zn-Pb
Rooivark
10 kilometres Copper Surface Geochemistry
----- End of picture text -----

• The Lucas Post Trend covers more than 25 km of strike and hosts a number of copper and vanadium prospects – extensive infill soil sampling programme underway,

• The Kaskara prospect shows the geochemical and structural similarities to the Tsumeb Cu-PbAg mine complex to the north,

• A number of copper and vanadium prospects require drill testing including, Rooikat, Harasib II and Uitsab.

Slide 16

Presentation to the SBR Annual General Meeting, November 2012

Lucas Post Trend - Kaskara

explore extend extract

==> picture [781 x 5] intentionally omitted <==

• Identified by SBR & DH Discovery as a ‘conceptual target’,

• Kaskara is surface over highlighted by high-grade geochemistry

• more than 2,500 metres of strike (with up to 23% Copper & 3% Vanadium),

• Deep weathering profile and friable vanadium mineralisation (incl. 21.9m @ 5.79% Pb, 2.52% V2O5 & 0.45% Cu) has caused issues with the effectiveness of diamond drilling, however channel sampling of historical surface and underground workings has proved effective,

• Recent channel sampling within the Harasib III pit, adjacent to the Kaskara outcrop, has returned significant mineralisation including: KKUG 023 21 m @ 4.79% Pb, 2.00% V2O5 & 0.21% Cu KKUG 024 6 m @ 8.71% Pb, 3.69% V2O5 & 0.47% Cu

• IP geophysics has identified Sulphide Copper targets at depth,

• An extensive programme of RC drilling is now underway.

==> picture [151 x 397] intentionally omitted <==

Slide 17

Presentation to the SBR Annual General Meeting, November 2012

Kaskara Cu/ Fe-Pb-V Deposit

explore extend extract

==> picture [781 x 5] intentionally omitted <==

• Kaskara shows ‘Tsumeb-style’ mineralisation, namely Cu-Pb-V, with a deep weathering profile,

• Covers more than 2,500 metres of strike,

• Surface gossans have returned assays of up to 23% Copper, 35% Lead, 34% Zinc & 3% Vanadium,

• Sampling in the Harasib III pit returned: 21 m @ 4.8% Pb, 2.0% V2O5 & 0.2% Cu

• Sampling of underground workings included: 13 m @ 7.4% Pb, 2.9% V2O5 & 0.4% Cu

• Diamond drilling included: 22 m @ 5.8% Pb, 2.5% V2O5, & 0.5% Cu

• RC drilling to test the Fe-Pb-V & Cu mineralisation in the weathered oxide zone & deeper sulphide copper targets.

==> picture [441 x 413] intentionally omitted <==

----- Start of picture text -----

Diagrammatic Cross Section Harasib III O/P
Kaskara Outcrop
Outcrop of Gossans
Harasib Drill Adit
Sulphide Mineralisation
Cu-Pb-Ag
(Targeted through IP)
Approx 50 m
----- End of picture text -----

Slide 18

Presentation to the SBR Annual General Meeting, November 2012

Kaskara Cu/ Fe-Pb-V – RC Drilling

explore extend extract

==> picture [781 x 5] intentionally omitted <==

• RC drilling commenced at Kaskara in late October 2012,

• Ten holes completed to date, with drilling proving technically challenging due fractured ground conditions and friable Fe-Pb-V oxide mineralisation,

• Drilling commenced on the lower slopes of the hill at Kaskara,

• The RC programme is designed to initially test & delineate the periphery of the mineralised system then to follow it to depth,

• Later drill holes will test the Sulphide Copper IP target at depth,

• RC is proving to be an effective drilling method to test the mineralisation at Kaskara.

==> picture [253 x 397] intentionally omitted <==

Slide 19

Presentation to the SBR Annual General Meeting, November 2012

Sabre Resources – Summary

explore extend extract

==> picture [781 x 5] intentionally omitted <==

• Sabre holds an extensive ground position in the established Otavi Mountain Land copper province,

• Sabre’s targets range from green fields geochemical anomalies to resource delineation,

• Sabre’s work programme is focused on copper, with other exploration targets also lead, zinc and vanadium,

• Reconnaissance drilling continues to meet with success at the Guchab copper prospect, with resource drilling scheduled to commence at the Eastern Adits (Pad 1) in Q1 2013,

• Surface & down hole geophysics has commenced at Guchab and is expected to be finished in the coming weeks,

• RC drilling is underway at Kaskara, moving towards resource definition.

==> picture [151 x 397] intentionally omitted <==

Slide 20

Presentation to the SBR Annual General Meeting, November 2012

Sabre Resources – Corporate

explore extend extract

==> picture [781 x 5] intentionally omitted <==

Issued Capital 226,472,228 Ordinary Shares (as of 1 October 2012) Major Shareholders & Associates Coniston Pty Ltd 30.55% National Nominees 10.72 % Brispot Nominees 4.15% BBY Nominees 4.03% Bow Lane Nominees 2.87%

Board & Management

David Zukerman – Executive Director Michael Scivolo – Non-Executive Director Jonathan Downes – Non-Executive Director Tim Putt – Chief Executive Officer Dr Matthew Painter – GM Exploration

Last Funding (8/2011) A$8.0 Million @ A$0.26/Share Share Price (30/11/12) A$0.17/ Share

Market Cap (30/11/12) ~A$38 Million

Specialist Consultants

IMO Pty Ltd - Feasibility Studies Metallurgical Support Pty Ltd - Metallurgy

SBR - Share Price & Volumes (1 Year)

==> picture [361 x 128] intentionally omitted <==

SBR - Share Price & Volumes (Five Year)

==> picture [335 x 128] intentionally omitted <==

Slide 21

Presentation to the SBR Annual General Meeting, November 2012