Sabina Gold & Silver Announces Interim Financial Results For The Quarter Ended September 30, 2018

Press Release

November 14, 2018

$39.4 million in cash and short-term investments, pre-development activities continue

VANCOUVER –Sabina Gold & Silver Corp. (“Sabina”) or (the “Company”) (SBB – TSX) reports the interim financial results for the quarter ended September 30, 2018.

“During the third quarter the Company continued advancing the Back River Project,” said Bruce McLeod, the Company’s President& CEO. “A significant milestone during the quarter was the receipt of a positive Type A Water License recommendation, a key license in authorizing construction and operations activities. We anticipate the receipt of this license shortly. Also during the quarter, the construction of our port in Bathurst Inlet was completed and two major sealifts were received. This is not only a major de-risking component of the project, but also was completed in line with Feasibility Study estimates and ahead of schedule. We also were successful on the exploration front with the new discovery at Nuvuyak. The Nuvuyak zone continues to demonstrate the significant gold endowment of the Back River District and the ability to extend mine life with new discoveries. We look forward to more exploration results and other news through the remainder of the year.”

Q2 2018 Highlights:

• During the quarter, the Company continued to advance pre-development activities for the Back River Project, including the selection of the single major vendor that will supply the gold plant equipment, completion of the construction of the Marine Laydown Area (the “Port’) and shipment of equipment and supplies via sealift to the Port.

• A new discovery at the Nuvuyak zone at the Goose Project was made where discovery hole 18GSE 545 intersected 11.58 g/t gold over 39.50 meters with abundant visible gold. This zone sits approximately one kilometer to the West of the Goose Main Deposit.

• On September 24, 2018, the Company announced that the Nunavut Water Board (“NWB”) had provided a positive recommendation to the Minister of Intergovernmental Affairs, Northern Affairs and International Trade that the Type A Water License for the Back River Project should be issued to the Company with proposed terms and conditions. The Type A water License represents a key step in the environmental permitting process enabling activities at the site including both mine construction and operations.

• On Sept 28 and October 1, 2018, the Company completed a non-brokered private placement for 1,048,702 flow-through common shares at a price of $1.56 per share for gross proceeds of approximately $1.6 million. The proceeds must be used to incur Canadian exploration expenditures as defined by the Income Tax Act (Canada) by December 31, 2019.

• For the three and nine months ended September 30, 2018, the Company reported net losses of $1.5 million or $0.01 per share and $1.5 million of or $0.02 per share, respectively.

Financial Results

For the nine months ended September 30, 2018, the Company reported a net loss of $4.7 million compared with $2.5 million in the comparative period in 2017. The difference was largely the result of higher operating expenses (share-based payments, professional fees, and listing and transfer fees), a smaller gain on marketable securities and higher income tax expense, all partially offset by an increase in net finance income.

For the full September 30, 2018 interim financial statements and Management’s Discussion and Analysis, please see the Company website at www.sabinagoldsilver.com or on SEDAR.

Sabina Gold & Silver Corp.

Sabina Gold & Silver Corp. is well-financed with approximately $39.4 million (September 30, 2018) 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 “Study”). At a US$1,150 gold price and a 0.80 (US$:C$) exchange rate, the Study delivers a potential after tax internal rate of return of approximately 24.2% with an initial CAPEX of $415 million.

The Project received its final Project Certificate on December 19, 2017 and its Type B Water License in March 2018 and a positive recommendation for its Type A Water License expected before the end of the year.

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.

All news releases and further information can be found on the Company’s website at www.sabinagoldsilver.com or on SEDAR at www.sedar.com. All technical reports have been filed on www.sedar.com

For further information please contact:
Nicole Hoeller, Vice-President, Communications: 1 888 648-4218
nhoeller@sabinagoldsilver.com

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