Sable Mining Africa Regulatory News (SBLM)

Sable Mining Africa Ltd / Index: AIM / Epic: SBLM / Sector: Natural Resources

30 July 2012

Sable Mining Africa Limited ('Sable Mining' or 'the Company')

Further Drill Results from the Nimba Iron Ore Project

Sable Mining Africa Limited, the AIM listed exploration company, is pleased to announce further assay results with drilled widths of up to 33.4 metres of canga grading 62.28% Fe from the Company's reconnaissance drilling campaign focussed on targeting additional haematite bearing intersections of canga material at the 123.5sq km Nimba Iron Ore Project in southeast Guinea ('Nimba'). These results further reinforce the significant Direct Shipping Ore ('DSO') potential of the project, underpinning the current exploration target of up to 200Mt of canga material.

A total of 54 exploration drill holes have now been completed and the exploration drilling campaign that commenced in April 2012 now totals 1,032m. In addition to the assay results announced on 11 July 2012, these recently returned assays are from the second of the three targeted canga plateaux. Plateau 2 represents an area of 35 sq km of the total area covered by all three plateaux. Of the seven holes recently returned, three were in the main channel fill canga zones being targeted by the initial drilling campaign, the aim of which is to prove up a JORC compliant Maiden Resource for the first of three targets on Plateau 2 by Q4 2012. The Board continues to believe these three areas have the potential to host in excess of 100Mt of high grade detrital canga material.

The results of these holes are summarised below (thicknesses quoted are drilled widths):

Table 1 Analysis by ALS Laboratories, Ireland for diamond drill hole composites, Nimba licence

In addition to the main canga channel fill being targeted, the drilling campaign is also testing the plateau between the primary targets to test for additional beneficiable material. The table below summarises the assay results of four of the holes designed to test these areas (thicknesses quoted are drilled widths):

Table 2 Analysis by ALS Laboratories, Ireland for diamond drillhole composites Nimba licence

It should be noted that these results demonstrate the presence of additional canga material with an average thickness of 9.88m and averaging 52.04% Fe outside of the primary target areas. A number of metallurgical holes will be completed in anticipation of the planned Competent Persons Report ('CPR'). The Board believes that this material can potentially be upgraded to >58% Fe. This material combined with the main channel canga targets still supports the Company's internal initial potential target estimate of 200Mt of canga material.

Sable Mining CEO Andrew Groves said, "These outstanding additional assay results further underpin the value of the Nimba project and its potential to host a world class DSO resource. In line with this we continue to implement a comprehensive exploration campaign at Nimba in order to target a considerable JORC compliant resource in the near future ahead of the initiation of development initiatives to bring this significant new discovery into production in as short a timeframe as practicable."

The information in this announcement that relates to Mineral Exploration results and Mineral Resources, together with any related assessments and interpretations have been reviewed by Mark Biddulph, a qualified geologist. Mark Biddulph has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a qualified person as defined by the AIM Note for Mining and Oil & Gas Companies.

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