Sabre Resources Ltd (ASX: $SBR) Commences Exploration in Ngalia Basin

Sabre Resources Ltd (ASX: $SBR) has commenced exploration over a series of outstanding high-grade uranium targets across its extensive Ngalia Basin uranium tenement package in the Northern Territory. The company has identified outstanding uranium targets from upgraded re-processing and imaging of radiometric data, immediately along strike from high-grade uranium resources on its highly-prospective Ngalia Basin uranium tenement package.

Executive Commentary on Uranium Exploration

Uranium prices have increased over 200% in the last six months to 15-year highs, as major economies look to nuclear power to help reduce their carbon emissions. Against this favourable backdrop, Sabre has acquired a major, over 1,100 square kilometre tenement package in the highly-prospective Ngalia Basin in the Northern Territory, immediately along strike from high grade uranium resources. The Ngalia Basin is one of the most favourable uranium exploration and development regions in Australia, especially given uranium mining and development is actively encouraged by the Northern Territory government and ground and access conditions are very favourable. Sabre has commenced an aggressive and fully-funded geophysical program that will target immediate extensions of high-grade deposits such as Camel Flat, while also testing soil-covered targets on extensions of the key target unit - the Mt Eclipse Sandstone, and potential palaeo-channel deposits. The aim of this exploration phase is to define priority high-grade uranium targets for aircore and RC drilling programs in 2024.

Summary of Sabre Resources' Uranium Exploration

Sabre Resources Ltd (ASX: $SBR) has initiated exploration activities in the Ngalia Basin, targeting outstanding uranium targets from upgraded re-processing and imaging of radiometric data. The company's Ngalia Basin tenements include 1,100 square km of granted exploration licences and applications in one of the most favourable areas for uranium exploration and development in Australia. The exploration program will initially focus on the Dingo Project, EL32829, targeting extensions of the Mt Eclipse Sandstone which hosts the high-grade Bigrlyi uranium-vanadium Mineral Resource. Sabre's CEO, Jon Dugdale, highlighted the increased uranium prices and the company's aggressive and fully-funded geophysical program aimed at defining priority high-grade uranium targets for aircore and RC drilling programs in 2024. The company's exploration efforts are in line with the growing demand for nuclear power and the encouragement of uranium mining and development by the Northern Territory government.