Saber Resources has completed the sale of its Ninghan Gold Project project in southern Murchison, southern Western Australia, to be sold to Capri Metal in a $1.6 million deal.

The completion of the transaction follows the terms set out in the asset sale and purchase agreement signed by the company last month.

Saber has received an additional $1.5 million in Capri Rice stock, adding an initial $100,000 cash deposit.

The royalties have been determined, granting Net Smelter Net Return (NSR) royalties for sale for any mineral extracted from six property units associated with the Ninghan Gold Project.

In addition, a higher NSR royalty rate of 1.5% is set for a specific property unit E59/2402.

Saber Resources CEO Jon Dugdale said: “Saber is pleased to have completed the sale of Ninghan Gold Project to Capricorn Metals and received $1.5 million in Capricorn shares, in addition to the $100,000 previously paid.

“In the early stages of the drilling program, or the drilling program on May 9, 2026, further payments of $250,000 in cash or Captain Morris stocks were raised to $1.85 million. This puts SABER in a good financial position to promote its core exploration projects and seek other opportunities.

“The agreement also provides an upward trend toward the successful exploration of Cape Mary through incidental payments and royalties.”

Captain Mary has pledged to pay Saber a milestone payment of $1.5 million. These include $750,000 after announcing JORC-compliant mineral resources estimates exceeding 50,000 ounces of gold, and 750,000 ounces of gold when deciding to start a commercial mining business at the site.

The Ninghan Gold Project covers approximately 77 km and is located 20 km north of the Gibson Mt Gold Project in Block ri.

Blockbuster has identified seven exploration targets in Ninghan Gold Project.

“Saber Resources sells Ninghan Gold Project Sale to Capricorn Metal” was originally created and published by GlobalData-owned brand Mining Technology.

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