SABRE RESOURCES LIMITED — Interim / Quarterly Report 2011

Jul 25, 2011

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

==> picture [377 x 25] intentionally omitted <==

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

Mining exploration entity monthly report
.
----- End of picture text -----

==> picture [478 x 603] intentionally omitted <==

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

Name of entity
Sabre Resources Ltd
Quarter ended
ABN
(“current quarter”)
68 003 043 570 30 June 2011
Consolidated statement of cash flows
Current Year to date
quarter (12 months)
$A’000 $A’000
Cash flows related to operating activities
1.1 Receipts from product sales and related debtors 30 116
1.2 Payments for (a) exploration and evaluation (652) (2,613)
(b) development
(c) production
(d) administration (243) (825)
1.3 Dividends received
1.4 Interest and other items of a similar nature received 20 184
1.5 Interest and other costs of finance paid
1.6 Income taxes paid
1.7 Other (provide details if material)
Net Operating Cash Flows (845) (3,138)
Cash flows related to investing activities
1.8 Payment for purchases of: (a) prospects
(b) equity investments - (87)
(c) other fixed assets - (69)
1.9 Proceeds from sale of: (a) prospects
(b) equity investments
(c) other fixed assets
1.10 Loans to other entities
1.11 Loans repaid by other entities
1.12 Other (provide details if material)
Net investing cash flows
1.13 Total operating and investing cash flows (carried forward) - (156)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. - 100
1.15 Proceeds from sale of forfeited shares
1.16 Proceeds from borrowings
1.17 Repayment of borrowings
1.18 Dividends paid
1.19 Other (provide details if material)
Net financing cash flows - 100
Net increase (decrease) in cash held (845) (3,194)
1.20 Cash at beginning of quarter/year to date 2,771 5,120
1.21 Exchange rate adjustments to item 1.20
1.22 Cash at end of quarter 1,926 1,926
----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

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

1.23 1.24 1.25	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 Explanation necessaryfor an understandingof the transactions		Current quarter $A'000
			558
	Professional services and directors fees Explorationexpenses paid through Namibiansubsidiary	$A'000 29 529

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.

3.1 3.2 stim 4.1 4.2 4.3 4.4	Loan facilities Credit standby arrangements ated cash outflows for next quarter	Amount available $A’000	Amount used $A’000
	Exploration and evaluation Development Production Administration		$A’000
			500 200
	Total		700

Estimated cash outflows for next quarter

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 5.2 5.3 5.4	Cash on hand and at bank Deposits at call Bank overdraft Other(provide details)	226 1,700	271 2,500
	Total: cash at end of quarter(item 1.22)	1,926	2,771

• See chapter 19 for defined terms.

Appendix 5B Page 2

Appendix 5B Mining exploration entity quarterly report

Changes in interests in mining tenements

Tenement reference Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired 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.	Tenement reference	Nature of interest (note (2))	Nature of interest (note (2))	Interest at beginning of quarter	Interest at beginning of quarter	Interest at end of quarter
	Total number	Number quoted	Issue price per security (see note 3) (cents)		Amount paid up per security (see note 3) (cents)
7.1 Preference+securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions (c)Expiryof escrow
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital,buy-backs	110,202,997	110,202,997
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured,converted
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	23,000,000 8,350,000		Exercise price 10 cents 25 cents		Expiry date 31 December 2012 30November 2011
7.11 Debentures(totals only)
7.12 Unsecured notes(totals only)

• See chapter 19 for defined terms.

Appendix 5B Page 3

Appendix 5B Mining exploration entity quarterly report

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.

Sign here: Date : 26 July 2011

Print name: Norman Grafton Company Secretary

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.

== == == == ==

• See chapter 19 for defined terms.

Appendix 5B Page 4