Sabina Gold & Silver Announces 2017 Budget and Activities

7 February 2017

Vancouver, BC – Sabina Gold & Silver Corp (SBB.T), (“Sabina” or the “Company”) is pleased to announce a base budget of approximately $8.5 million for 2017. The budget will be funded from treasury of approximately $40 million as at December 31, 2016.
The 2017 base budget delivers:

• completion of the environmental assessment process;
• advancement of IIBA negotiations with the Kitikmeot Inuit Association (“KIA”);
• completion of basic engineering and a project execution plan; and
• completion of a mapping, rock and till sampling and geophysical exploration field program.

“The 2017 base budget focuses on maintaining optionality to advance the Back River Project towards production while preserving as much of our current treasury as possible while we continue through the environmental assessment process” said Bruce McLeod, President & CEO. “In addition, we have developed discretionary activities that are based on certain milestones achieved during the process. These expenditures will be assessed, confirmed or revised, at certain decision dates. All activities and expenditures focus on targeting first gold production at Back River in Q1, 2021.”
In 2017 discretionary activities could include completion of the water license review process to final hearings, commencement of detailed engineering and commencement of project financing. Depending on the timing and success of advancing the permitting process, total expenditures could range up to a total of ~$25 million for the year.

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