Sabina Gold & Silver Announces Q2, 2016 Financial Results

10 August 2016

VANCOUVER – Sabina Gold & Silver Corp. (“Sabina”) or (the “Company”) (SBB – TSX) reported today the financial results for the second quarter of 2016. All figures in C$ unless otherwise specified.

“Sabina ended the quarter with a strong balance sheet of approximately $43 Million in cash and cash equivalents.” Said Bruce McLeod, Sabina’s President and CEO “Since receiving the recommendation from the Nunavut Impact Review Board (“NIRB”) in mid-June we have worked diligently to prepare our detailed response to the NIRB report. We are also continuing to solicit input from community and Inuit representatives along with the territorial governments and federal agencies involved. While we wait for the Minister’s decision, we are focused on reducing costs, preserving our cash balance and being prepared for any of the potential outcomes.”

On January 27, 2016, the Liberal Government announced five interim principles that will be applied by the Government of Canada to guide environmental assessment decision making:

  1. No project proponent will be asked to return to the starting line – project reviews will continue within the current legislative framework and in accordance with treaty provisions, under the auspices of relevant responsible authorities and Northern regulatory boards;
  2. Decisions will be based on science, traditional knowledge of Indigenous peoples and other relevant evidence;
  3. The views of the public and affected communities will be sought and considered;
  4. Indigenous peoples will be meaningfully consulted, and where appropriate, impacts on their rights and interests will be accommodated; and
  5. Direct and upstream greenhouse gas emissions linked to the projects under review will be assessed.

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