SABRE RESOURCES LIMITED — Interim / Quarterly Report 2007

Oct 22, 2007

Rule 5.3

Appendix 5B Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

	Sabre Resources Ltd
	ABNQuarter ended ("current quarter")
	68 003 043 570	30 September 2007
	Consolidated statement of cash flows
	Cash flows related to operating activities	Currentquarter$A'000	Year to date(3 months)$A'000
1.1	Receipts from product sales and related debtors
1.2	Payments for (a) exploration and evaluation(b) development(c) production(d) administration	(63)(79)	(63)(79)
1.31.41.51.61.7	Dividends receivedInterest and other items of a similar nature receivedInterest and other costs of finance paidIncome taxes paidOther (provide details if material)
	Net Operating Cash Flows	(142)	(142)
	Cash flows related to investing activities
1.81.9	Payment for purchases of: (a) prospects(b) equity investments(c) other fixed assetsProceeds from sale of: (a) prospects(b) equity investments(c) other fixed assets
1.10	Loans to other entities
1.111.12	Loans repaid by other entitiesOther (provide details if material)
	Net investing cash flows
1.13	Total operating and investing cash flows (carried forward)	(142)	(142)
1.141.15	Cash flows related to financing activitiesProceeds from issues of shares, options, etc.Proceeds from sale of forfeited shares	148	148
1.16	Proceeds from borrowings	100	100
1.17	Repayment of borrowings
1.181.19	Dividends paidOther (provide details if material)
	Net financing cash flows	248	248
1.201.21	Net increase (decrease) in cash heldCash at beginning of quarter/year to dateExchange rate adjustments to item 1.20	10660	10660
1.22	Cash at end of quarter	166	166

+ See chapter 19 for defined terms.

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

Current quarter $A'000

• 1.23 Aggregate amount of payments to the parties included in item 1.2 14
• 1.24 Aggregate amount of loans to the parties included in item 1.10
• 1.25 Explanation necessary for an understanding of the transactions

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount	Amount
		available	used
		$A'000	$A'000
3.1	Loan facilities
3.2	Credit standby arrangements	100	100

Estimated cash outflows for next quarter

		$A'000
4.1	Exploration and evaluation
4.2	Development	100
	Total	100

Reconciliation of cash

	Reconciliation of cash at the end of the quarter (as shown in theconsolidated statement of cash flows) to the related items in theaccounts is as follows.	Currentquarter$A'000	Previousquarter$A'000
5.1	Cash on hand and at bank	166	60
5.2	Deposits at call
5.3	Bank overdraft
5.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	166	60

+ See chapter 19 for defined terms.

Changes in interests in mining tenements

		Tenement reference	Nature of interest(note (2)	Particulars
6.1	Interests in mining tenementsrelinquished, reduced or lapsed
6.2	Interests in mining tenementsacquired or increased

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

		Totalnumber	Numberquoted	Issue price persecurity (seenote 3) (cents)	Amount paid up persecurity (see note 3)(cents)
7.1	Preference +securities(description)
7.2	Changes during quarter(a) Increases through issues(b) Decreases through returnsof capital, buy-backs,redemptions
7.3	+Ordinary securities	28,434,851	28,434,851
7.4	Changes during quarter(a) Increases through issues(b) Decreases through returnsof capital, buy-backs
7.5	+Convertible debt securities(description)
7.6	Changes during quarter(a) Increases through issues(b) Decreases throughsecurities matured, converted
7.7	Options(description and conversionfactor)	23,000,000600,000		Exercise price10 cents15 cents	Expiry date31 December 201230 November 2008
7.8	Issued during quarter	900,000		15 cents	30 November 2008
7.9	Exercised during quarter
7.10	Expired during quarter
7.11	Debentures(totals only)
7.12	Unsecured notes (totals only)

+ See chapter 19 for defined terms.

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
• 2 This statement does give a true and fair view of the matters disclosed.

Norman Grafton Company Secretary

Sign here: Date: 23 October 2007

Notes

• 1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
• 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
• 3 Issued and quoted securities. The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities*.*
• 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
• 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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+ See chapter 19 for defined terms.