Sable Intercepts 971.3 g/t AgEq over 0.85m within 363.4 g/t AgEq over 2.85m at La Verde Vein Field

VANCOUVER, May 17, 2021 - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce additional results from its active drill program at the El Fierro Project ("El Fierro" or the "Project"). El Fierro is an 8.5 by 5.5 kilometre historical artisanal silver-rich mining district located 250 kilometres northwest of San Juan city and 120 km north of Sable's Don Julio Project. In early February, Sable started the first drill campaign ever conducted at the Project and released results on April 6^th (two drillholes) and May 3^rd (four drillholes) from Fierro Bajo and La Verde zones.

Key Points:

• Drillhole LV-DH-21-11 extended high-grade vein mineralization 600m to the west from previously released drillhole LV-DH-21-08 which returned a wide high-grade intercept of 546.78 g/t AgEq over 9.95m with individual grades as high as 734 g/t Ag and 49.8 g/t Au (see press release of May 3, 2021).
• Trenches TLV 009 and TLV 011 intersected high grade mineralization 270m to the east of drillhole LV-DH-21-08 and returned multiple Ag-Au high-grade values demonstrating good easterly continuity of the La Verde mineralization.
• Mineralization found in the mentioned trenches and above drillhole 11 was completely concealed below thin Quaternary gravels.
• Hole LV-DH-21-11 is located 570m along strike to the east of previously released grab sample E04077 which returned the highest surface value within La Verde zone of 4,552 g/t AgEq (3,840 g/t Ag; 19.8% Pb; 0.56% Cu) (see press release of March 4, 2021). This sample represents the farthest west known expression of La Verde vein, indicating 1500 m along strike extension.

Highlighted results from hole LV-DH-21-11 include:

971.33 g/t Ag Eq (263.64 g/t Ag; 6.32 g/t Au; 0.62% Cu; 2.7% Pb; 0.5% Zn) over 0.85m from 38.25 to 39.10m
Within
363.4 g/t AgEq (101.51 g/t Ag; 2.16 g/t Au; 0.23% Cu; 1.25% Pb; 0.33% Zn) over 2.85m from 37.90 to 40.75m

Significant results from the surface trenches include:

Trench TLV-009

1,011.3 g/t AgEq over 2.2m (69.89 g/t Ag; 7.62 g/t Au; 7.93% Pb; 1.18% Zn)
And
396.9 g/t AgEq over 0.5m (105 g/t Ag; 0.57 g/t Au; 2.14% Cu)
Within
227.8 g/t AgEq over 12.2m (22.02 g/t Ag; 1.42 g/t Au; 0.13% Cu; 1.65% Pb; 0.46% Zn)
171.3 g/t AgEq over 2.2m (13.6 g/t Ag; 0.44 g/t Au; 3.18% Pb; 0.41% Zn)

Trench TLV-011

487.9 g/t AgEq over 4.0m (124.47 g/t Ag; 1.25 g/t Au; 0.57% Cu; 3.96% Pb; 1.54% Zn)
And
743.1 g/t AgEq over 1.5m (30.6 g/t Ag; 1.75 g/t Au; 0.15% Cu; 15.16% Pb; 1.37% Zn)

"The Verde Vein is fast becoming one of the main structures within the extensive vein field of El Fierro project. After releasing hole LV-DH-21-08 two weeks ago, our receiving confirmatory high-grade results from the same structure indicating an along strike extension of at least 1,500 metres was very important," commented Dr. Ruben Padilla President and CEO of Sable, who also added, "The additional high-grade gold values of up to 7.0 g/t in hole LV-DH-21-11 and up to 23.0 g/t Au in trench TLV009 are proving the quality of the La Verde structure."

Figure 1. Location of reported results

The Company also reports that it has received results from holes FB-DH-21-06 and FB-DH-21-07 at Fierro Bajo which did not return anomalous intercepts; hole LV-DH-21-09 which locally missed the Verde vein due to an inflection of the structure and hole LV-DH-21-10 which targeted the secondary Rosa vein and returned a lower grade intercept.

Mineralization intercepted in drill holes LV-DH-21-10, and LV-DH-21-11 represents between 80% and 100% true width. Trenches at La Verde were excavated to a depth of up to 4m, until reaching the bedrock, then systematically mapped and sampled in channels of maximum 2m; trenches TLV009 and TLV011 were excavated perpendicular to the orientation of the Verde vein and the mineralization observed in them is considered true thickness. Maps and tables associated with this press release will be available on Sable's website (www.sableresources.com). Silver equivalent (AgEq) is calculated based on 100% recovery and prices of USD 18.0 per oz for silver; USD 1,500 per oz for gold; USD 0.85 per pound for lead; USD 1.10 per pound for zinc; and USD 3.0 per pound for copper. Cu, Pb, Zn values lower than 0.1%, and Au values lower than 0.1 g/t have not been considered within the AgEq calculation.

Sable is providing an opportunity for shareholders and other interested parties to participate in a Webinar to be held at 4 pm ET on Thursday, May 20, 2021. To register, please click on the following link - https://zoom.us/webinar/register/WN_ly2Nhr0aT72jogYvAwHlLg.

Figure 2. Cross Section along hole LV-DH-21-11

Figure 3. Schematic cross-section along trench TLV 009 showing highlighted results

Figure 4. Schematic cross-section along trench TLV 011 showing highlighted results

ABOUT EL FIERRO PROJECT

The El Fierro Project is located 250 km northwest of San Juan, Argentina and 120 km north of Sable's Don Julio Project in one of the best-known historical mining districts in the San Juan province. The El Fierro Project consists of four main known mineralized areas - Fierro Alto, Fierro Bajo, La Verde, and Lagunitas over an area of 8.5km x 5.5km. Three of the four areas host a number of old artisanal mining workings where silver, lead and zinc were intermittently mined since the late 1800's until the 1960s. Prior to Sable's current drill program, the Property had never been drilled before. Sable currently controls 46,391 hectares covering all the historically mineralized areas and additional highly prospective ground over a large magnetic anomaly.

ABOUT SABLE RESOURCES LTD.

Sable is a well-funded junior grassroots explorer focused on the discovery of new precious metal projects through systematic exploration in endowed terranes located in favorable, established mining jurisdictions. Sable's main focus is developing its large portfolio of new greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (128,992 ha) incorporating the Don Julio, El Fierro, La Poncha, and los Pumas Projects in San Juan Province, Argentina; and the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Vinata and El Escarpe projects.

Related link: sableresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of this release.

SAMPLE PREPARATION AND QA/QC

Sample preparation for projects in Argentina is carried out by ALS Chemex Argentina, a subsidiary of ALS Minerals, at its facility located in Mendoza, Argentina. Analyses are carried out at their laboratory in Lima, Peru. Sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (code PREP-31).

Gold was analyzed by fire assay of a 30 g sample split with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES); multi-elements were analyzed by an aqua regia digestion of a 1 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 35 elements (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, Hg, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn) (codes Au-ICP21 and ME-ICP41). This digestion method dissolves most minerals but not all elements are quantitatively extracted in some sample matrices. Over limit Ag, Cu, Pb, Zn OG46 analyses are conducted when samples exceed the upper detection limits; this method includes Aqua Regia digestion and ICP-AES finish. For Pb>20%, and Zn>30%, tritration method is applied (Pb-VOL70, Zn-VOL50). Method Ag-GRA22 which includes Fire Assay with gravimetric finish is applied when Ag exceeds 1500 g/t. Control samples (standards, blanks, and duplicates) are inserted systematically and their results evaluated according to the Company protocols.

QUALIFIED PERSON

Luis Arteaga M.Sc. P.Geo., Vice President Exploration is the Company's Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this news release.

Caution Regarding Forward Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sable's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Although such statements are based on reasonable assumptions of Sable's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While Sable considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this release is made as of the date hereof, and Sable is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE Sable Resources Ltd.