25 March 2019
Sabina Gold & Silver Corp. reports the financial results for the quarter and year ended December 31, 2018.
“2018 was a year of significant progress for Sabina,” said Bruce McLeod, the Company’s President & CEO. “We continued on with our two-pronged approach to advance Back River through de-risking project development activities as well as continue exploration programs on high-value targets at the Goose property. We are very pleased with what we managed to accomplish last year. We welcomed a new shareholder, Zhaojin International Mining Co., Ltd. (‘Zhaojin’), who’s investment enabled us to fund many of the programs last year; we continued to make progress through detailed engineering, including selecting a vendor for the processing plant; we further de-risked the logistics supply chain of the project by building our port facility and successfully completing two sealifts; we received both our Type A and B water licenses, critical licenses for construction and operations; we received our social license by completing an agreement for Inuit Impact and Benefits (‘IIBA’) with the Kitikmeot Inuit Association (‘KIA’); we advanced negotiations on a debt package for project financing on reasonable terms; and we made a significant new discovery at the Goose property as well as continued to demonstrate the multi-generational potential of the Back River District. These are all accomplishments that de-risk and create value for our shareholders and poise Sabina to be one of the first companies to outperform in a recovering gold sector.”