Sable Commences Maiden Drill Program at the Zorro Project, San Juan, Argentina

Sable starts drilling in Argentina but offers no results or financial trend data.

Risk flags

• ●Operational risk is elevated due to the lack of disclosed drill results or technical milestones, meaning there is no evidence yet that the project will yield economic mineralization.
• ●Financial transparency is poor, with only a single cash and receivables figure disclosed and no information on burn rate, capital commitments, or exploration budgets, making it difficult to assess how long current funding will last.
• ●Execution risk is present given the recent weather-related delay, which highlights the potential for further disruptions in remote Andean locations; the company's assertion that the delay is immaterial is unsupported by data or revised schedules.

Bottom line

This announcement signals that Sable Resources has begun drilling at the Zorro Project in Argentina, but provides no technical results, production data, or financial trend information. The company’s cash position of over C$13.5 million suggests it can fund near-term exploration, yet the absence of burn rate or budget details leaves the duration of this flexibility unclear. All forward-looking statements—such as program expansion or the immateriality of delays—are unsupported by quantitative evidence. Investors have no basis to assess the likelihood of technical success or the timeline to any resource definition. Until Sable discloses drill results, assay data, or more granular financials, this update is not actionable. The most important takeaway is that the start of drilling alone does not reduce risk or create value without supporting results.

Announcement summary

(TSXV: SAE | OTCQB: SBLRF) Sable Resources Ltd. announced that diamond drilling has commenced at its 100%-controlled Zorro Project in San Juan Province, Argentina. Drill mobilization was temporarily delayed due to an unusual winter weather event in the Central Andes in San Juan Province, bringing significant snowfall and limiting access to the project area. Sable remains well funded, with more than C$13.5 million in cash and receivables, providing financial flexibility to complete the current drill program and continue advancing its exploration portfolio without the need for immediate financing. The inaugural drill program is designed to test the Zorro Copper, Zorro North, and a recently identified IP conductivity-chargeability anomaly, with additional target evaluation and drill planning to continue at the Zorro Breccia and Zorro Gold targets. Sable has recently consolidated the 8,460 ha Zorro Project through the signing of option agreements and the staking of open ground. Sable is actively exploring the San Juan Regional Program (>141,000 ha), incorporating the Don Julio, El Fierro, Cerro Negro, and Zorro projects in San Juan province, Argentina, and the Copper Queen, Copper Prince, and Core Mountain properties in British Columbia (21,038 ha). The company may expand the drill program subject to the results of the initial drilling and ongoing target-generation work.

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