Sabre Gold advises on Victoria Gold recipientship

Toronto, Ontario–(Newsfile Corp. – August 15, 2024) – Saber Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) (“Saber Gold” or the “Company“) wishes to report that it expects to be affected by the receivership of Victoria Gold Corp. (“VictoriaVictoria has announced that the Ontario Superior Court of Justice (Commercial List) has entered an order appointing PricewaterhouseCoopers Inc. as receiver and manager of Victoria, including all of its properties, assets and undertakings.

In September 2023, Sabre Gold sold Golden Predator Mining Corp., then a wholly owned subsidiary of Sabre Gold, which indirectly owned a 100% interest in the Brewery Creek property, as well as certain other mineral assets, including the Gold Dome and Grew Creek exploration properties, to Victoria. The total consideration payable to Sabre Gold for the sale was $13.5 million, of which $8.5 million was paid in cash to Sabre Gold at closing. The balance of the consideration is payable as follows: