Sable Mining Afr.Ltd - Expansion of Iron Ore Portfolio

Sable Mining Africa Ltd / Index: AIM / Epic (LSE: EQPI.L - news) : SBLM / Sector: Natural Resources

2 February 2012

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

Expands Iron Ore Portfolio Following Permit Acquisition in Guinea

Sable Mining Africa Limited, the AIM listed resource company, is pleased to announce that it has expanded its West African iron ore portfolio following the acquisition of a 123.5 sq km exploration permit in the Mount Nimba area of south-east Guinea, through its 80% Guinea subsidiary West Africa Exploration SA. The permit, which is highly prospective for iron ore, is adjacent to the BHP Billiton (Hamburg: BHP1.HM - news) /Newmont/Areva (Munich: 890173 - news) 600 million tonne Nimba iron ore project, and close to the Ivory Coast and Liberian borders.

Within the permitted area, on the lower flanks of Mount Nimba, significant quantities of Canga-type iron ore conglomerate have been observed forming three main plateaux covering an approximate area of 35 sq km. The Board believes that the conglomerate is a product of erosion of Mount Nimba over time. Early reconnaissance and sampling have confirmed the presence of high-quality iron mineralisation with exposures showing thicknesses of greater than 15 metres, where the plateaux have been partially eroded by streams.

A reconnaissance drilling/pitting programme is planned to confirm the thickness of the iron mineralisation and grade at depth with completion prior to the onset of the wet-season in May. Access roads to the plateaux will be completed in February 2012.

Sable Mining CEO Andrew Groves said, "This is a fantastic addition to our iron ore portfolio, with early indications from reconnaissance work already highlighting the project's prospectivity. Taking into account its proximity to the Nimba project, the near surface nature of the ore body, the defined plateaux and the relative proximity to infrastructure, we believe this has the potential to add significant value to the Company going forward.

"Work continues at our Timbo, Bopolu and Kpo iron ore projects in Liberia which are also located on the highly prospective West African Shield in Liberia, and I look forward to updating the market in our progress on building a significant iron ore portfolio with high grade world class deposits."

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