VANCOUVER, British Columbia–(Newsfile Corp. – August 3, 2023) – Saber Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) (“saber gold” or “company“) is the preliminary economic assessment (“pea“) 100% Owned Copperstone Mine (“copper stone” again “plan“”) was previously announced on June 20, 2023 in Arizona, USA. Preliminary Economic Evaluation of the Copperstone Project in La Paz County, Arizona, USA Developed by Hard Rock Consulting, LLC for Saber Gold on August 2, 2023 (effective June 26, 2023). Technical reports are available on SEDAR (www.sedarplus.ca) under Saber Gold’s profile.

This technical report includes minor changes to the general information contained in the June 20, 2023 news release. In particular, the results of the technical report’s economic analysis show high pre- and post-tax NPVs, high pre- and post-tax IRRs, low mine operating costs and total payable maintenance costs per payable ounce of gold, It shows that gold is more expensive. – and cumulative undiscounted free cash flow after tax. These results are reflected in Tables 1 and 4 of our June 20, 2023 news release (Financial Results and Operating, Cash and All Maintenance Based Cases). Updated results are included in the technical report and are repeated in Tables 1 and 2 below.

Table 1 – Financial Results

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Abbreviations include NPV = Net Present Value, IRR = Internal Rate of Return, LOM = My Lifespan, and AISC = All-In Maintenance Cost.

Table 2 – Base case for full operating, cash and maintenance costs

The Company believes that the preliminary economic assessment is preliminary in nature and that it is too geologically speculative to apply economic considerations that could be classified as mineral reserves. It is noted that it contains an Inferred Mineral Resource and it is unclear whether a preliminary assessment will be reliably carried out. Economic evaluation is realized.

Qualified personnel and QA/QC

Mike Maslowski, Saber’s CPG Vice President and Chief Operating Officer, is a Qualified Person (“QP”) who has reviewed and approved this news release. The Preliminary Economic Evaluation (PEA) team includes HRC QP, Richard A. Schwering PG, SME-RM, Jeffery W. Choquette PE, Jennifer J. Brown PG, and Dr. Deepak Malhotra. 2023 PEA Independent Qualified Person who produced the scientific and technical information on the Copperstone Project and reviewed the information summarized in this press release. Qualified individuals preparing PEA reports follow industry-accepted practices to verify that the data used in research is suitable for their intended use. Site visits by all qualified personnel are part of the data verification procedure.

(1) Non-IFRS financial indicators

We have included certain non-IFRS measures in this document as described below. We believe these measures, in addition to our traditional measures prepared in accordance with IFRS, enhance the ability of investors to assess our underlying performance. Non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for performance measures prepared in accordance with IFRS. These measures do not have a standardized meaning under IFRS and may not be comparable to other issuers.

Cash Cost per Ounce (“Cash Cost”)

Cash cost per ounce is a non-IFRS measure. In the gold mining industry, this metric is a common performance indicator and has no standardized meaning under IFRS. Cash costs include direct costs (including smelting, refining, transportation and sales costs), royalties and manufacturing taxes, general and administrative expenses, and changes in finished product inventories.

All-In Sustaining Cost per Ounce (“AISC”)

AISC per ounce is a non-IFRS measure. This indicator is intended to help readers assess the total cost of producing gold from their operations. AISC measures do not have an industry-wide standardized meaning, but our definition complies with the definition of AISC set by the World Gold Council. We define AISC as cash operating costs (as defined above), increased landfill costs, paid exploration of mine sites, and maintenance capital expenditures. For purposes of the PEA, AISC does not include corporate administrative expenses or paid exploration expenses for mine sites.

free cash flow

In mining, free cash flow is a common performance indicator and has no standardized meaning. We calculate free cash flow as net cash provided by operating activities less cash capital expenditures (capital expenditures less payments made under finance leases). We believe this action will provide valuable assistance to investors and analysts in assessing our ability to generate cash flow after capital expenditures and build our cash resources. is disclosed.

About Saber Gold Mines Corporation

Saber Gold is a diversified, multi-asset short-term gold production company in North America with over 100 investments in both the fully licensed and licensed Copperstone gold mine in Arizona, USA and the Brewery Creek gold mine in Arizona, USA. % Ownership. Yukon Territory, Canada, both former producers. Management plans to resume production at Copperstone in the near future, followed by production at Brewery Creek. Saber Gold also holds other investments and projects in various stages of development.

Saber Gold’s two advanced projects contain approximately 1.5 million ounces of gold in the Measured and Indicated categories and approximately 1.2 million ounces of gold in the Estimated category. In addition, both Copperstone and Brewery Creek have significant exploration advantages with combined land packages of over 230 square kilometers that will undergo further training testing with the currently identified high-priority targets. . Saber Gold is led by an experienced team of mining professionals with experience in exploration, mine construction and operations.

For more information, please visit the Saber Gold Mines Corp. website: (www.saber.gold).

Andrew Elineski
CEO and President
416-904-2725

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information under the securities laws of Canada, including statements regarding our expectations regarding the proposed optimization work and other value-enhancing activities and their impact on Copperstone’s economy. contained. Acquisition of potential expansion of Copperstone’s resources through additional exploration drilling, expectations regarding construction decisions and timing, Copperstone’s construction schedule, potential financing for the commencement of Copperstone production, and any necessary modifications. Possibility to permit the Copperstone Project. These forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to: Assumptions used to develop the Copperstone Project PEA. Base construction decisions and economic and technical demonstrations on PEA results rather than mineral reserves feasibility studies. viability. gold price. Operational, Funding and Liquidity Risks. Dependence on third parties, exploration risks, resource upgrade failures, and the extent to which Mineral Resource and Reserves estimates reflect actual Mineral Resources and reserves. The extent to which factors exist that make a deposit commercially viable, the risks and hazards associated with underground operations, and other risks involved in the mineral exploration and development industry. Risks and uncertainties relating to Saber Gold’s business are detailed in our disclosure materials, including our Annual Information Forms and MD&A, which are filed with the Canadian securities regulators and available at www.sedar.com, and which the reader recommends reading these materials. Saber Gold undertakes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from such statements, except as required by law.

To view the source version of this press release, please visit: https://www.newsfilecorp.com/release/175928