Vancouver, BC – Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX), (“Sabina” or the “Company”) is pleased to provide final results from the 2020 exploration program at the Company’s 100% owned Back River Gold Project, (“Back River” or the “Project”) Nunavut, Canada.

During the season, the Company completed approximately 8,000 meters of drilling at Goose in addition to completion of an extensive airborne geophysical Versatile Time Domain Electromagnetic “VTEM” survey over the Goose, George and Del properties.

Previously reported drilling this year includes significant intercepts within the high-grade underground corridor at the Umwelt V2 zone. (See news releases dated August 20, September 3 and October 13, 2020).

The emergence and confirmation through drilling of the V2 zone will result in an updated reserve estimate and has provided the basis upon which to re-envision our development plans, focusing on early mining of this high-grade underground material into the mine life first. This drilling further highlights the exceptional nature of the Goose site gold structures.

Drilling outside of the Umwelt high grade corridor was completed at five target areas that include the Llama Extension zone (3 drill holes), the Umwelt underground hinge zone (3 drill holes) and the Hook, Jackaroo and Hackles targets (3 drill holes). See attached map for target locations.

Highlights from these results include hole 20GSE585 returning 3.74 g/t Au over 43.70 m including 22.40 g/t Au over 2.00 m intersecting the anticline hinge of the Umwelt underground, see table 1 for details. This hole is a further example of the wide zones encountered at the Goose deposits and was drilled to expand the mineralization encountered in the Umwelt underground to adjacent favourable structural traps.

Hole 20GSE577 from the Llama Extension zone, where additional drilling was required to inform an initial inferred resource estimate on this new zone, returned 3.75 g/t Au over 9.15 m, including 8.04 g/t au over 3.40m.

Hole 20GSE580 returning 1.90 g/t Au over 13.7 m, including 5.71 g/t Au over 1.00 m at the Hook prospect, targeted a potential bridging zone between the Goose Main and Nuvuyak deposits. While the hole overcut its target, it provided further information for future drill testing.

Significant assay interval results are detailed in table 1 and represent several strong advancements for geologic modeling, gold zone vectoring and refinement of new exploration targets. Results from a number of these target areas support additional follow-up. A complete listing of all previously pending assay results for the 2020 drilling program are detailed in table 2.

“Sabina is proud to have delivered a number of significant exploration successes this year,” said Bruce McLeod, President & CEO “This was accomplished while operating within a restricted safety framework that has protected our employees, contractors and community partners from COVID. At Umwelt, drilling confirmed our team’s hypothesis of a high-grade underground corridor with the definition of the V2 zone, which can provide positive impacts to our project economics. Additional resource style drill holes at the Llama Extension target as well as internal work has enabled resource modelling for new inferred resources at both Llama Extension and Nuvuyak zones. These two oncoming resources have the potential to form the foundation for future design of two new underground mines at the Goose site. With this year’s challenges, our exploration targeting programs were restricted but we have created good momentum for successful follow up with the results from these drill holes. In addition, the completion of a VTEM survey over some of the historically underexplored and high value portions of our Back River properties continues to demonstrate the prospectivity of this emerging mining belt. We look forward to planning our exploration priorities in 2021 as we continue to evolve the world class nature of the Back River Gold district.”

Table 1.0 – Selected Significant Intercepts from 2020 Exploration Drilling
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