Sabina Gold & Silver Corp. Announces C$30 Million Bought Deal Financing

3 May 2016

Not for distribution to U.S. news wire services or dissemination in the United States.

Vancouver, British Columbia (May 2, 2016) -- Sabina Gold & Silver Corp. ("Sabina" or the "Company") has announced today that it has entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets, Canaccord Genuity and Cormark, under which the underwriters have agreed to buy on bought deal basis 18,410,000 common shares (the "Common Shares"), at a price of $1.63 per Common Share for gross proceeds of approximately $30 million (the "Offering"). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. BMO Capital Markets is the sole bookrunner on the offering. The offering is expected to close on or about May 20, 2016 and is subject to Sabina receiving all necessary regulatory approvals.