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VANCOUVER, British Columbia, July 18, 2025 (GLOBE NEWSWIRE) — Sable Resources Ltd. (“Sable” or the “Company”) (TSXV:SAE | OTCQB:SBLRF) announces that further to the Company’s news release of July 2, 2025, it has closed its non-brokered private placement with Moxico Resources plc (“Moxico”) raising gross proceeds of C$1,749,000 through the issuance of 31,800,000 common shares (“Shares”) at a price of C$0.055 per Share (the “Private Placement”).
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As a result of the Private Placement, Moxico owns 31,800,000 Shares, which represent approximately 9.9% of Sable’s issued and outstanding Shares. Pursuant to the terms of the subscription agreement entered into by the parties in connection with the Private Placement, Sable granted Moxico customary participation and anti-dilution rights which enable Moxico to maintain its pro rata equity interest in the Company for so long as Moxico maintains a minimum ownership threshold.
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The proceeds from the Private Placement will be used by the Company for exploration and general corporate and working capital purposes.
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The Shares issued under the Private Placement are subject to a four month hold period from the date of issue in accordance with applicable securities laws. The Private Placement remains subject to final approval of the TSX Venture Exchange (“TSXV”). The TSXV has conditionally approved the listing of all Shares issued under the Private Placement.
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Moxico is an unlisted public mining company headquartered in the United Kingdom. As previously announced, the Company and its subsidiary entered into a binding letter agreement with Moxico that granted Moxico an exclusive option to acquire 51% of the Company’s El Fierro Project and Cerro-Negro Property, subject to certain exploration and expenditure terms. See the Company’s press release dated February 27, 2025 for additional details about Moxico and this option transaction.
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The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
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ABOUT SABLE RESOURCES LTD.
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Sable is a well-funded junior grassroots explorer focused on the discovery of Tier-One new precious metal and copper projects through systematic exploration in endowed terranes located in favorable, established mining jurisdictions. Sable’s focus is developing its large portfolio of new Greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, and Cerro Negro projects in San Juan province, Argentina and the Copper Queen (15,133 ha), Copper Prince (3,980 ha), and Core Mountain (1,925 ha) properties in British Columbia.
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