Positive Drill Results from Nimba Iron Ore Project

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

5 November 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 positive assay results from the Company's on-going exploration programme at the 123.5 sq km Nimba Iron Ore Project in south-east Guinea ('Nimba Project').

Overview

·; Assay results from an additional 7 of 22 diamond drill holes completed on Plateau 3 of the Nimba Project area

·; Further supports the potential for Plateau 3 to provide significant additional Direct Shipping Ore ('DSO') material in addition to the current exploration target of up to 200Mt of canga material

·; Best grade of 65.03% iron ('Fe') over a drilled width of 10.50m

·; Additional grades include:

o 13.30m (thickest mineralised intercept) at 57.98% Fe

o 10.00m at 61.29% Fe

·; Combined weighted average returned for the seven Plateau 3 holes is 8.10m at 57.16% Fe

·; Low contaminants continue with average contents of 4.31% SiO2, 5.64% Al2O3 and 0.08% P

·; Drilling on-going and remains focussed on targeting additional haematite bearing intersections of canga material

Sable Mining CEO Andrew Groves said, "These further highly encouraging assay results from the Nimba Project, which demonstrate good widths from surface and grades of up to 65.03% Fe, continue to underpin the project's position as one of the premier undeveloped DSO assets globally. These new results will feed into our accelerated exploration programme ahead of the publication of what we believe will be a significant maiden JORC Resource in Q1 2013.

"The scale and potential of the Nimba Project continues to grow with the receipt of new results, providing the potential for considerable additional DSO material in addition to the current exploration target of up to 200Mt of canga material. The palaeo-valley thicknesses are not as pronounced as on our primary target on the adjoining Plateau 2, but assuming thickness of 13m and only 70% of the 724ha area is underlain by canga, this translates to a significant potential tonnage approaching 180 million tonnes - a considerable resource with which to increase the overall tonnage at Nimba Project."

Plateau 3

The Company has now completed 22 diamond drill boreholes across Plateau 3. These holes are part of an initial 400m grid drilled, and cover an area of 724ha of the approximate 1,100ha Plateau 3 area. These latest assay results are for seven of the 22 holes completed to date, bringing the total of holes released for Plateau 3 to nine. These results confirm the presence of iron enriched canga on this plateau. The seven drill holes have returned mineralised intercepts ranging in thickness from 4m to 13.30m, all from surface. The average canga thickness drilled from the first nine holes combined is 8.7m. However, based on the geological logs of all 22 holes completed to date, the average canga thickness for the area covered increases to 13m.

In addition to the early stage prospect drilling completed on Plateau 3, the Company has also completed and processed 15 lines of ground penetrating radar ('GPR') across the area of interest. This is the same technology that has been successfully used to delineate the base of the canga body where it rests unconformably onto the granitic basement. All boreholes were completed to a depth that ensured intersection of the underlying granites.

This information will now be used in conjunction with the lithologies logged and the recently returned assays to model the base of the canga body. The Company is currently updating the geological model based on this data will be used in order to guide the infill drilling planned for the area.

The Company has previously released results for two of the holes drilled on Plateau 3, the results for the next seven boreholes are summarised in Table.1:

Table 1: Assay Results for Plateau 3, Nimba Project (Analysis by ALS Laboratories, Ireland for diamond drill hole composites)

These results must be seen in the context of an initial exploratory grid programme aimed at confirming the presence of additional canga material on Plateau 3.

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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