Sabre Gold Announces Exercise of Option on SER Property
Vancouver, October 18, 2023 – Sabre Gold Mines Corp. (TSX: SGLD, OTCQB: SGLDF) (“Sabre Gold” or the “Company”) is pleased to announce that it’s partner, Rackla Metals (“Rackla”), has exercised its option to acquire a 100% interest, subject to a 2.5% NSR royalty, in the SER property. Pursuant to the SER Option Agreement dated September 29, 2022, Rackla has completed the following:
- paid $50,000 cash to Sabre upon signing of the agreement,
- within 12 months of signing, paid an additional $300,000 final payment in a combination of 655,021 common shares of Rackla and $150,000 cash to Sabre.
The shares issued to the Company are subject to a resale restriction which expires on February 17, 2024.
“We are pleased to see Rackla making excellent progress on their collection of properties in the Yukon,” commented CEO & President Andrew Elinesky, “The Company looks forward to seeing further exploration results for SER and the surrounding area and creating value for our royalty interest. Along with the Company’s other recent transactions we are excited to be streamlining our assets and putting our sole focus on working towards gold production at the fully permitted Copperstone Mine in Arizona.”
For more information on SER and the surrounding exploration properties held by Rackla please see https://racklametals.com/projects/ .
All figures in Canadian Dollars.
About Sabre Gold Mines Corp.
Sabre Gold is a near-term gold producer in North America which holds 100% ownership of the fully licensed and permitted Copperstone gold mine located in Arizona, United States. Management intends to restart production at Copperstone in the near term. Sabre Gold also holds other investments and projects at varying stages of development.
Copperstone has approximately 300,000 ounces of gold in the Measured and Indicated categories, and approximately 197,000 ounces of gold in the Inferred category. Additionally, Copperstone has considerable existing operational infrastructure as well as significant exploration upside. Sabre Gold is led by an experienced team of mining professionals with backgrounds in exploration, mine building and operations.
For further information please visit the Sabre Gold Mines Corp. website: (www.sabre.gold).
CEO and President