Sabina Gold & Silver Announces Q3 2014 Financial Results - $38.1 Million at September 30, 2014 In Cash and Equivalents

13 November 2014

November 13, 2014
VANCOUVER -- Sabina Gold & Silver Corp. (the "Company") (SBB -- TSX) reported today the financial results for the quarter ended September 30, 2014.
Q3 2014 Highlights: 

• The Company had cash, cash equivalents and short-term investments of $38.1 million at September 30, 2014.
• During the quarter, the Company completed its 2014 field program, which included a total of 12,171 meters of drilling at the Goose property comprising Echo infill and extension drilling as well as drilling on some regional targets.
• During the quarter, the Company formally launched its Back River Feasibility Study ("FS") by engaging a team comprised of JDS Energy & Mining Inc. (lead), Hatch Ltd., SRK Consulting, Knight Piésold Ltd. and AMC Consultants Pty Ltd. All consultants have significant recent Arctic experience. The FS is expected to be completed during the first half of 2015.
• The Company continued to progress the environmental assessment and permitting process on Back River including submitting responses to information requests on the Back River draft environmental impact statement. Technical hearings on the project, including initial public hearings are scheduled for November 12 -- 21, 2014 in Cambridge Bay, Nunavut.
• Subsequent to quarter end, the Company provided an update on the progress of the FS, including the potential impact of expected improved metallurgical recoveries; increased measured and indicated resources; potential improvements to underground mining costs and efficiencies; an improved tailings management strategy and potential for mine scheduling which could increase mill through put by up to 20% during open pit operations. Detailed engineering on these concepts is ongoing and Project economics are not yet available.

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