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Sable Resources to acquire silver project in Mexico

Sable Resources Ltd. signed a definitive agreement to option 100% of the Margarita silver project in Chihuahua state, Mexico.

The company is required to pay C$50,000 upon executing the agreement, issue C$500,000 worth of shares within first year, issue a further C$1.0 million worth of shares before the second anniversary and issue C$2.0 million worth of shares before the third anniversary.

The project consists of two mining exploration licenses totaling 125 hectares with a strike length of about 1.7 kilometers, according to the June 7 release.

The acquisition is subject to the approval of the NEX board of the TSX Venture Exchange.