SABRE RESOURCES LIMITED — Interim / Quarterly Report 2005

Oct 30, 2005

SABRE RESOURCES LIMITED

(ACN 003-043-570)

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

28th October 2005

The Manager - Companies Australian Stock Exchange Exchange Centre 20 Bond Street SYDNEY NSW 2000

Sabre Resources Ltd - Quarterly Report for the 3 months ended 30^th September 2005

TANZANIA - URANIUM PROSPECT $1$

In September 2005 the Company acquired a 100% interest in three Uranium prospective properties totalling 381km² in the Lindi and Ruvuma Regions of Southern Tanzania. Two of the licences, PLR 3323/2005 and PLR 3324/2005, form the Mkunju group whilst the third licence PLR 3447/2005 represents the Madaba Project.

Project Details

The two Mkuniu licences totalling 246km² are located in southern Tanzania, some 460 kilometres southwest of Dar es Salaam, near the southern boundary of the Selous Game Reserve. The licences are proximal to the Mkuju River Project currently being explored by OmegaCorp Limited. Adjoining licence holders include Uranium Resources plc and Pan African Mining Corp.

The 135km² Madaba licence is situated near the northern boundary of the Selous Game Reserve about 260km to the south of Dar es Salaam. The licence is located adjacent to those of Sterling Resources Limited.

The Mkunju and Madaba licence areas were part of the focused search area for uranium between 1978 and 1982 by a German company Uranerzbergbu GMBH (UEB). The exploration initiative commenced in 1976-1979 when the Government of Tanzania contracted Geosurvey International Company to carry out a systematic airborne survey of the whole country to illustrate the geology and uranium mineralisation potential. Total magnetic field and radiation intensity data were collected using spectrometry, EM and magnetics. From this work, UEB defined six areas of interest and staked large areas with prospecting licences, to field check the geophysical anomalies.

No detailed work was undertaken on the areas covered by the Mkunju and Madaba licences, however the licences are located adjacent to and proximal to areas of detailed exploration by UEB and their discovered uranium occurrences.

Uranium in the district is within a favourable geological setting, being associated with fine to medium grained sandstone and siltstones of the upper Carboniferous to lower Jurasic. Karoo system. By the end of 1979 a total of 78 airborne anomalies were investigated on the ground by UEB of which 16 areas contained visible mineralisation at the surface within an area of $10 \times 10$ km and over an elevation interval of 220 m. The uranium occurrences of southern Tanzania within the Karoo have been compared to the sandstone uranium deposits in the Colorado Plateau area of Western USA.

Exploration Strategy

An exploration programme will be established and supervised by our Technical Consultant, Klaus Eckhof, a senior exploration geologist who has world wide contacts and has been instrumental in locating successful projects in Australia, Africa, the Philippines, Russia and South America. He was a former Director of Spinifex Gold Ltd and Layfayette Mining Ltd and is currently an executive director of Moto Goldmines Ltd and a Director of Tiger Resources Ltd.

Exploration will focus on a review of existing airborne radiometric data with the view to designing a detailed ground borne radiometric survey. Anomalous ground borne radiometric surveys would then be mapped and sampled by trenching in exposed areas and drilling where the favourable sequences are buried. The deeply dissected landscape is conducive to exploration as it provides large exposures of the prospective sequence.

2) GNAMMA DAM NICKEL PROSPECT

The prospect comprises 14 Prospecting Licences (P25/1766-1775 and P25/1783-1786) covering a total of 20 square kilometres in the Bulong area east of Kalgoorlie WA.

The prospect area covers Archaean mafic, ultramafic and felsic volcanic rock types as well as sedimentary suites, comprising the Bulong Greenstone Belt. Younger dolerites have intruded the sequence.

Nickel potential in the ultramafic units has been previously recognised and evidence of sulphides has been observed in bedrock outcrops but no significant exploration for this commodity has been carried out until now.

During the June 2005 quarter the Company conducted a soil sampling programme, ground magnetics and detailed geological mapping.

The programme provided encouraging anomalous nickel horizons in close correlation with elevated chrome values.

A significant number of samples reported values at a level higher than twice the median range. These values are considered as being anomalous.

Anomalous nickel values are apparently confined to the western contact zones of the magnetic high regions. This is considered significant since the western contacts are believed to be the basal floor of the ultramatic units.

A series of east west bearing ground magnetic survey lines were completed over the project area. This programme was designed to delineate the ultrabasic sequence and to attempt to map the ultrabasic/metasediment contacts and to establish a possible relationship between the nickel anomalisms and underlying stratigraphy. The programme was successful in delineating north south trending magnetic high regions, interpreted as associated with the ultramafic sequence.

A programme of infill sampling and ground magnetics will be undertaken to delineate suitable drilling targets.

$3)$ CORPORATE

During the month of October 2005, 2 million options were exercised at 10 cents each, generating \$200,000.

D N ZUKERMAN Director

Competent Person Declaration

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Malcolm Castle, who is a member of The Australasian Institute of Mining and Metallurgy. Matcolm Castle is not a full-time employee of the Company. He is employed by Agricola Consultants.
Malcolm Castle has sufficient experience which is relevent t 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". Malcolm Castle consents to the inclusion in the report of the matters based on his information in the form and context in which it appears