SABRE RESOURCES LIMITED — Capital/Financing Update 2005

Feb 28, 2005

SABRE RESOURCES LIMITED

$(ACN 003-043-570)$

^1st Floor, Sterling House, 8 Parliament Place WEST PERTH WA 6005 Postal: P O Box 1618, WEST PERTH W A 6872 Phone: (08) 9481 7833 Fax: (08) 9481 7835 E-mail: sabre@sabresources.com Website: www.sabresources.com

28^th February 2005

Australian Stock Exchange Companies Announcement Office 20 Bond Street SYDNEY NSW 2000

Dear Sirs,

ISSUE OF SABRE RESOURCES LTD SHARES SECONDARY TRADING NOTICE PURSUANT TO SECTION 708A(5)(e) of the Corporations Act 2001

On 25 February 2005 the Company issued 2,160,000 ordinary fully paid shares at a price of 12.5 cents each to raise \$270,000. The shares have been placed with a group of sixteen investors. The shares issued pursuant to the placement rank equally with all existing ordinary shares previously issued by the Company. The funds raised in the placement are to be used for working capital and acquisition of projects.

Secondary Trading Exemption

The Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, a sale of the Securities noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

• a) The Company issued the Securities without disclosure to investors under Part6D.2 of the Act;
• b) As at 25 February 2005 the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and
• c) As at 25 February 2005 there is no information:

• that has been excluded from a continuous disclosure notice in accordance with ï) the ASX Listing Rules; and

• that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of: ii)

• A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or
• B) the rights and liabilities attaching to the Securities.

Yours faithfully,
Sabre Resources Ltd

D N ZUKERMAN Director