SABRE RESOURCES LIMITED — Interim / Quarterly Report 2017

May 2, 2017

Appendix 5B (Amended)

$+ Rule 5.5$

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96. Origin Appendix 8. Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16

Name of entity

Sabre Resources Ltd

ABN

Quarter ended ("current quarter")

68 003 043 570

31 March 2017

1.	Cash flows from operating activities	Currentquarter$A'000	Year to date(9 months)$A'000
1.1	Receipts from customers	30	30
1.2	Payments for
	exploration & evaluation(a)	(32)	(96)
	(b)development
	(c)production
	staff costs(d)	(45)	(104)
	(e) administration and corporate costs	(43)	(174)
1.3	Dividends received (see note 3)
1.4	Interest received
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Research and development refunds
1.8	Other (provide details if material)
1.9	Net cash from/(used in) operating activities	(90)	(344)
2.	Cash flows from investing activities
2.1	Payments to acquire:
	property, plant and equipment(a)
	tenements (see item 10)(b)
	(c)investments
	(d)other non-current assets
2.2	Proceeds from the disposal of:
	property, plant and equipment(a)
	tenements (see item 10)(b)
	(c)investments

Consolidated statement of cash flows

• See chapter 19 for defined terms

(d) other non-current assets

Dividends received (see note 3)

Other (provide details if material)

Cash flows from loans to other entities

Net cash from/(used in) investing activities

$2.3$

$2.4$

$2.5$

$2.6$

$\mathbf{r}$

$\overline{a}$

1 September 2016

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

3.	Cash flows from financing activities
3.1	Proceeds from issues of shares
3.2	Proceeds from issue of share options	10	10
3.3	Proceeds from exercise of share options
3.4	Transaction costs related to issues of shares, convertiblenotes or options
3.5	Proceeds from borrowings	100	350
3.6	Repayment of borrowings
3.7	Transaction costs related to loans and borrowings
3.8	Dividends paid
3.9	Other (provide details if material)
3.10	Net cash from/(used in) financing activities	110	360

4.	Net increase/(decrease) in cash and cashequivalents for the period	20	16
4.1	Cash and cash equivalents at beginning of period	53	57
4.2	Net cash from / (used in) operating activities (item 1.9 above)	(90)	(344)
4.3	Net cash from / (used in) investing activities (item 2.6 above)
4.4	Net cash from / (used in) financing activities (item 3.10 above)	110	360
4.5	Effect of movement in exchange rates on cash held
4.6	Cash and cash equivalents at end of period	73	73

5.	Reconciliation of cash and cash equivalentsat the end of the quarter (as shown in the consolidatedstatement of cash flows) to the related items in the accounts	Currentquarter$A'000	Previousquarter$A'000
5.1	Bank balances	73	53
5.2	Call deposits
5.3	Bank overdrafts
5.4	Other (provide details)
5.5	Cash and cash equivalents at end of quarter (should equalitem 4.6 above)	73	53

6.	Payments to directors of the entity and their associates	Currentquarter$A'000
6.1	Aggregate amount of payments to these parties included in item 1.2	-
6.2	Aggregate amount of cash flow from loans to these parties included initem 2.3	-
6.3	Include below any explanation necessary to understand the transactions included initems 6.1 and 6.2

7.	Payments to related entities of the entity and their associates	Currentquarter$A'000
7.1	Aggregate amount of payments to these parties included in item 1.2	-
7.2	Aggregate amount of cash flow from loans to these parties included initem 2.3	-
7.3	Include below any explanation necessary to understand the transactions included initems 7.1 and 7.2

8.	Financingfacilities availableAdd notes as necessary for an understanding of theposition	Total facilityamount atquarter end$A'000	Amountdrawn atquarter end$A'000
8.1	Loan facilities	450	350
8.2	Credit standby arrangements
8.3	Other (please specify)
8.4	Include below a description of each facility above, including the lender, interest rate andwhether it is secured or unsecured. If any additional facilities have been entered into or areproposed to be entered into after quarter end, include details of those facilities as well.The abovementioned loan facility is interest free and unsecured and was provided byKalgoorlie Mine Management Pty Ltd.

9.	Estimated cash outflows for next quarter	$A'000
9.1	Exploration and evaluation	15
9.2	Development
9.3	Production
9.4	Staff costs	25
9.5	Administration and corporate costs	40
9.6	Other (provide details if material)
9.7	Total estimated cash outflows	80

10.	Changes in tenements (items2.1(b) and 2.2(b) above)	Tenementreference andlocation	Nature ofinterest	Interest atbeginningof quarter	Interestat end ofquarter
10.1	Interests in mining tenementsand petroleum tenements lapsed,relinquished or reduced
10.2	Interests in mining tenementsand petroleum tenementsacquired or increased

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
• 2 This statement gives a true and fair view of the matters disclosed.

Sign here: Date: 28 April 2017

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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
• 1. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
• 1. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.