Update to shareholders SABLE METALS AND MINERALS LIMITED (formerly Sable Platinum Limited) (Incorporated in the Republic of South Africa) (Registration number: 2001/006539/06) JSE share code: SMM ISIN: ZAE000185674 (“Sable” or “the company”) UPDATE TO SHAREHOLDERS Shareholders are referred to the 2013 integrated report of Sable wherein details of the mineral rights held by the company were disclosed. The company is pleased to inform shareholders that it has received confirmation from the Department of Mineral Resources (“DMR”) that its application for a prospecting right for vanadium in respect of portion 3 of the farm Uitvalgrond 431 JQ, situated in the magisterial district of Britz, has been granted, conditional upon the conclusion of the shareholders agreement currently under negotiation with the representative committee of the land owners, who constitute previously disadvantaged South Africans. The application for the prospecting right for iron ore and rutile over the same property has been accepted by the DMR and it is anticipated that this prospecting right will be granted in the foreseeable future. The grant of this prospecting right for vanadium is considered to be important in the development of the company because the vanadium magnetite reef outcrops on this property are contiguous to the mining operations conducted by Evraz Vametco Alloys (Pty) Ltd and is close to rail infrastructure. 1 April 2014 Sponsor Java Capital Date: 01/04/2014 09:14:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.