Sabre Gold Mines Corp. announced it has sold the Brewery Creek Project ("Brewery Creek") and other certain mineral assets in the Yukon to Victoria Gold Inc. ("Victoria"). The sale was completed pursuant to the terms of a share purchase agreement between Sabre and Victoria, whereby Victoria acquired all of the issued and outstanding shares of Golden Predator Mining Corp., a wholly owned subsidiary of Sabre, which indirectly holds a 100% interest in the Brewery Creek property, as well as certain other mineral assets that include the Gold Dome and Grew Creek exploration properties.

After giving effect to the sale, Golden Predator is now a wholly owned subsidiary of Victoria. The aggregate consideration payable to Sabre for the sale is $13.5 million. A total of $8.5 million was paid to Sabre in cash on closing.

The balance of the consideration is payable as follows: (i) $0.5 million in cash and an additional $2.5 million in cash or Victoria Shares at Victoria's election, payable on the 12-month anniversary of the closing date; and (ii) $0.5 million in cash and a additional $1.5 million in cash orVictoria Shares at Victoria's election, paid on the 24-month anniversary of the closing Date.