Sable Resources receives $5-million from OR Royalties

Executive Summary

• Sable Resources Ltd. received an additional $5 million milestone payment from OR Royalties Inc., bringing total cash received to $8.8 million under the TDG Gold Corp. royalty sale.
• The payment was triggered by TDG’s drill results at the Greater Shasta‑Newberry project that exceeded the discovery milestone specified in the investment agreement.
• Sable may receive a further up‑to $2 million if OR exercises its option for an additional 1 % royalty on three British Columbia properties.

Key Details

• Payment Amount: $5 million received from OR Royalties Inc.; total cash received to date $8.8 million.
• Trigger Event: TDG Gold Corp.’s drill results at the Greater Shasta‑Newberry project exceeded the discovery milestone in the Sable‑OR investment agreement.
• Agreement Terms: The royalty sale included a discovery‑milestone provision; an additional optional 1 % royalty on Copper Queen, Copper Prince, and Core Mountain properties may generate up to $2 million if exercised by OR.
• Use of Proceeds: Treasury strengthening; funds will be allocated to advance Sable’s exploration programs and support ongoing business development efforts.
• President/CEO Quote: “We are pleased with having received this $5‑million discovery milestone payment… This additional cash further strengthens Sable's treasury and will be used to advance our exploration programs and to support our ongoing business development efforts.”

Notable Quotes

• Ruben Padilla, President & CEO: “We are pleased with having received this $5‑million discovery milestone payment related to the sale of our 1‑per‑cent royalty on TDG's Greater Shasta‑Newberry project. This additional cash further strengthens Sable's treasury and will be used to advance our exploration programs and to support our ongoing business development efforts.”