Sabina Gold & Silver Announce Increase To Previously Announced C$20.0 Million Bought Deal Financing To C$22.0 Million

Press Release

December 12, 2018

Vancouver, BC – Sabina Gold & Silver Corp. (SBB.T), (“Sabina” or the “Company”) has announced today that, due to strong demand, the Company has increased the size of the previously announced offering to 18,340,000 common shares (the “Common Shares”), at a price of C$1.20 per Common Share (the “Offering Price”) for gross proceeds of approximately C$22.0 million (the “Offering”). The Offering is led by BMO Capital Markets and RBC Capital Markets (the “Underwriters”). The Company has granted the Underwriters an over-allotment option, exercisable at the Offering Price for a period of 30 days following the closing of the Offering, to purchase up to an additional 2,751,000 Common Shares (representing 15% of the Common Shares offered pursuant to the Offering) to cover over-allotments, if any, or for market stabilization purposes.The Offering is expected to close on or about December 21, 2018 and is subject to Sabina receiving all necessary regulatory approvals.

The net proceeds of the Offering (and any additional proceeds raised from the exercise of the aforesaid participation rights) will be used to advance development of the Company’s Back River Gold Project and for working capital and general corporate purposes.

The Offering is being made in all of the provinces and territories of Canada, except Quebec, by means of a prospectus supplement to the Company’s base shelf prospectus dated March 26, 2018.The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Sabina Gold & Silver Corp.

Sabina Gold & Silver Corp. is well-financed with approximately C$39.4 million in cash and equivalents and is an emerging precious metals company with district scale, advanced, high grade gold assets in one of the world’s newest, politically stable mining jurisdictions: Nunavut, Canada.

Sabina released a Feasibility Study on its 100% owned Back River Gold Project which presents a project that has been designed on a fit-for purpose basis, with the potential to produce ~200,000 ounces a year for ~11 years with a rapid payback of 2.9 years (see “Technical Report for the Initial Project Feasibility Study on the Back River Gold Property, Nunavut, Canada” dated October 28, 2015).

The Project received its final Project Certificate on December 19, 2017 and its Type A Water License on November 14, 2018 and is now in receipt of all major authorizations for construction and operations.

In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project.The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.

For further information please contact:

Nicole Hoeller, Vice-President, Communications:1 888 648-4218
nhoeller@sabinagoldsilver.com

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