Sabre Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) is pleased to announce positive underground drilling results at its 100% owned Copperstone gold project located in Arizona, United States.

Mike Maslowski, Vice President of Technical Services and Exploration of Sabre Gold stated: “The initial assay results from our in-fill drill program, designed to provide detailed geologic information for final stope planning and design have been received. Drill results are showing very good continuity of the mineralized shear zone and gold grades while adding further confidence to our resource model and detailed mine plan.”

Drilling Highlights Include:

The underground core and reverse circulation drill programs, conducted in two phases is now completed with further assays pending. Core drilling was conducted in 2021 and previously reported. The RC drilling was conducted during the period October to December with partial assays results having been received. The RC program consisted of 85 holes for a total of 3,004 meters. The core and RC drilling targeted both the C and D Zones where the initial mining at Copperstone is scheduled to commence. Drill holes were designed to drill sections of the planned mining areas at close spacings of approximately 6.5 meters along strike and dip to provide detailed data on grade and thickness distributions. A portion of the program also included holes testing local downdip projections and local strike projections.

The RC drilling program included in-filling a large gap on the northeast down dip projection of the D Zone. Two previous holes, drilled in 2019 and spring 2021, intercepted the shear zone at low angles and encountered elevated gold grades about 40 meters down dip of where the recent drilling was targeted. Assays have been received from drill holes P2D84 and P2D46, which intercepted 12.2 m at 8.0 g/t and 4.6 m at 5.7 g/t respectively. These holes are confirming the continuity of mineralization along dip near the northeastern drilled limits of the D Zone. The current underground drill platforms in this area are at their limit to further test the down dip limits but once drill platforms can be established additional drilling will be conducted to further define the down dip extent of this zone.

Partial results have been received on two other drill fans on the D Zone located more central to the zone, Station B and Station C. The results show the drill holes are intercepting the projected shear zones near the modeled locations and are showing good structural continuity along the dip and extending the zone down dip. The assay results are confirming model gold grades and are defining grade distributions to provide details for detailed stope design and mine planning. Drill station location and drill cross sections showing the drill holes follow in this release.

Sabre is encouraged by the initial assay results from this latest round of drilling. Overall drill results from this latest round of RC drilling are correlating with the previous core drilling assays which will help confirm ore delineation and ore control methodology.

Table 1: Underground Core and RC Drilling

(1) Au grades herein are reported as uncapped values.
(2) Estimated perpendicular distance between footwall and hanging wall of the mineralized interval.

Figures accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/23ca0bf3-1ba8-4e6f-82f5-f4d69c86f541

https://www.globenewswire.com/NewsRoom/AttachmentNg/59498f07-7fb7-4d7a-9bfd-e4017c437451

https://www.globenewswire.com/NewsRoom/AttachmentNg/3dc223cf-7f15-4620-8fc7-373479e191a0

The technical information in this news release has been reviewed and approved by Michael Maslowski, CPG, a qualified person as defined by National Instrument 43-101 and is employed by the company as its Vice President, Technical Services & Exploration.

Quality Assurance and Quality Control Statement

Procedures have been implemented to assure Quality Assurance Quality Control of drill hole assaying being done at an ISO Accredited assay laboratory. Drill hole samples to be assayed are securely stored for shipment, with chain of custody documentation through delivery. Mineralized commercial reference standards or blank standards are inserted approximately every 20th sample in sequence and results are assessed to ascertain acceptable limits for analytical variance. Duplicate samples will also be taken as a further check in lab precision and accuracy. All results will be analyzed for consistency and corrective actions taken, if needed.

ABOUT SABRE GOLD MINES CORP

Sabre Gold is a diversified, multi-asset near-term gold producer in North America which holds 100-per-cent ownership of both the fully permitted Copperstone gold mine located in Arizona, United States, and the Brewery Creek gold mine located in Yukon, Canada, both of which are former producers. Management intends to restart production at Copperstone followed by Brewery Creek in the near term. Sabre Gold also holds other investments and projects at varying stages of development.

Sabre Gold’s two advanced projects have approximately 1.5 million ounces gold in the Measured and Indicated categories, and approximately 1.2 million ounces gold in the Inferred category. Additionally, both Copperstone and Brewery Creek have considerable exploration upside with a combined land package of over 230 square kilometers that will be further drill tested with high-priority targets currently identified. Sabre Gold is led by an experienced team of mining professionals with backgrounds in exploration, mine building and operations.