Sabina Gold & Silver Drills 21.87g/T Au Over 15.10m (Hole 22gse610), 12.59g/T Au Over 45.05m (Hole 22gse607) And 16.22g/T Au Over 10.57m (Hole 22gse611) At Umwelt V2 Zone

2 June 2022

Sabina Gold & Silver Drills 21.87g/T Au Over 15.10m (Hole 22gse610), 12.59g/T Au Over 45.05m (Hole 22gse607) And 16.22g/T Au Over 10.57m (Hole 22gse611) At Umwelt V2 Zone

June 2, 2022

Vancouver, BC – Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX), (“Sabina” or the “Company”) is pleased to announce additional high-grade assay results from the final drill holes of the 2022 spring drilling program at the Goose Property on its 100%-owned Back River Gold Project (“Back River” or the “Project”) in Nunavut, Canada.

The goal of this eight-hole drilling program focused at the V2 Zone at Umwelt was to better define the high-grade continuity of areas within the existing resource envelope near the interface of the planned open pit and upper portions of the underground. This year’s drilling has demonstrated that the higher grade of the V2 zone has been extended up plunge into the lower portions of the open pit. The added confidence in this higher-grade mineralization will serve towards informing optimization of the Umwelt mine plan.

All drill holes encountered intervals of significant gold mineralization. Select highlights from this drilling include:

  • 12.59 g/t Au over 45.05 m including 21.33 g/t Au over 23.15 m, and 30.38 g/t Au over 8.00m in drill hole 22GSE607;
  • 21.87 g/t Au over 15.10 m including 46.40 g/t Au over 4.20 m in drill hole 22GSE610; and
  • 12.64 g/t Au over 20.35 m, and 16.22 g/t Au over 10.57 m including 40.00 g/t Au over 3.90 m, and 7.41 g/t Au over 12.60 m including 20.86 g/t Au over 4.00 m in three sequential zones in drill hole 22GSE611:

See Tables 1.0 - 3.0 below for more details and highlights from other Umwelt holes.

Initial V2 Zone drilling in 2020 tested the upper portions of the Umwelt underground as part of a program to test the hypothesis of a high-grade corridor from the bottom of the pit down plunge to the high-grade Vault Zone (drilled in 2018/19). Drilling is still required to test continuity of the structure between the Vault and V2 zones. Between 2020 and this current program, the V2 zone has been tested by 14 additional drill holes which have better defined and added confidence to the continuity of higher-grade mineralization over a plunge length of 365 m. See Table 2.0 and Figure 1.0 below.

“These results continue to demonstrate the exceptional gold endowment of the Umwelt deposit and its potential for further optimization and growth of high-grade gold zones both within and outside of the current mine design,” said Bruce McLeod, President & CEO. “The significant plunge of defined gold mineralization within iron formation at the Umwelt Deposit has strong potential for additional discovery both laterally and at depth. With the current advancement of our exploration ramp at Umwelt we expect to be in a position to commence underground exploration drilling later this year.”

See full news release here.