Sable Mining Africa Limited announced a 32% increase in its JORC Code compliant resource at the Nimba Iron Ore Project in south-east Guinea following expansion exploration drilling. This further underpins Nimba's potential as one of the most commercially attractive iron ore development assets globally. 32% tonnage increase in JORC Code compliant Mineral Resource at Nimba to 178.4Mt, up from 135.5Mt announced in September 2013.

Revised resource at an in-situ grade of 59% iron ('Fe') estimated at a Fe cut-off of 40% from two additional lines of drilling on prospects Plateau 2 and Plateau 3. Significant step towards proving up total exploration target of 200Mt. Drilling programme underway on an area previously inaccessible on Plateau 3 due to rainy season. Pre-Feasibility Study close to completion.

The £17 million fundraising provides sufficient funds to complete Bankable Feasibility Study in 2014. 160 hole infill drilling programme underway with objective of converting a portion of the Resource into the Measured category - underpinning a maiden Reserve targeting an initial production phase of 7 to 10 years. New programme of metallurgical test holes being implemented with the objective of securing enough sample to do sinter testwork and progress the marketing study.