Vancouver, British Columbia--(Newsfile Corp. - October 3, 2023) - Sabre Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) ("Sabre Gold" or the "Company") is pleased to announce it has entered into a non-binding Term Sheet with its secured creditors setting out the terms on which the parties are proposing to restructure the Company's current debt obligations and the gold stream over the Copperstone Mine. The proposed terms include: (i) partial early repayment of its debt obligations in return for the forgiveness of $3 million in accrued interest, (ii) amending the gold entitlement percentage under the gold stream in return for initial and deferred payments and shares in the Company, (iii) repurchasing the 1.5% gross production royalty on the Copperstone Mine within 12 months for consideration of US$1,250,000.

"The Company thanks its partners for their flexibility and cooperation in working with us to improve not only the overall financial position of the Company but also the potential economic returns for the Copperstone Mine by reducing the streaming percentage from 6% to 4% in the initial years of anticipated production and the eventual reduction in the gross production royalty," commented CEO & President Andrew Elinesky, "With these improvements and a projected cash balance in excess of $3.5 million from our recent sale of the Brewery Creek project, we have significantly upgraded our financial position and are excited to be working towards gold production at the Copperstone Mine."

Transaction Details
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https://www.newsfilecorp.com/release/182696/Sabre-Gold-Announces-Debt-and-Stream-Restructuring