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GlobeNewswire
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Sabina Gold & Silver Corp.: Sabina Gold & Silver Reaches Major Milestone to Advance Back River Gold Project with Positive Decision from Minister of Indigenous and Northern Affairs Canada

VANCOUVER, British Columbia, 2017-12-06 14:09 CET (GLOBE NEWSWIRE) --
Sabina Gold & Silver Corp. (TSX:SBB.T), ("Sabina" or the "Company") is pleased
to announce that it has received a positive decision from the Minister of
Indigenous and Northern Affairs Canada (the "Minister" or "INAC") that the Back
River Project (the "Project" or "Back River") may move forward to the
regulatory and licensing phase which would include completion of all necessary
permits to commence mine construction. 

In July 2017, the Nunavut Impact Review Board ("NIRB") completed its review of
the environmental assessment of the Project and recommended to the Minister
that the Project should be given approval to obtain the required permits and
licenses for mine construction and operation.  In a letter dated December 5,
2017, the Minister on behalf of the five responsible federal Ministers,
accepted NIRB's recommendation. The NIRB will now work towards issuing a
Project Certificate for Back River, which will attach the terms and conditions
for mine development, construction, operation and eventual closure. 

"This letter is a significant milestone event for the Back River Project and
for Sabina as it is the most important decision in the permitting process,"
said Bruce McLeod, President & CEO.  "After a multi-year environmental
assessment, we are extremely pleased that Back River now has the green light to
move ahead to the final phase.  The issuance of a Project Certificate for Back
River enables us to start preparing in earnest towards our goal of becoming a
mid-tier gold producer in one of the world's best mining jurisdictions, and now
enables us to formalize our budget and work plans for 2018.  In addition, the
recent execution of a binding term sheet with the Kitikmeot Inuit Association
has strengthened our relationship with our stakeholders and we look forward to
creating a long-lasting legacy of environmental stewardship and sustainable
economic development for the people of the Kitikmeot Region and Nunavut." 

The Honourable Carolyn Bennett, Minister of INAC stated that "Sabina can now
proceed to the regulatory phase of project development. The mining industry
plays a key role in the development of Canada's North: helping with the
transition to a wage economy, strengthening the capacity of northern people to
participate in the mining sector, and contributing to community and
infrastructure development. The growing prosperity of northern Canada is
reliant upon vibrant and sustainable resource development and Sabina is now
poised to play a significant contributing role in the Kitikmeot. The other
responsible Ministers and I look forward to working closely with Sabina while
ensuring that environmental protections are implemented and that the
socioeconomic benefits of the project are fully realized." 

Next Steps

The file is now with the NIRB who will be holding a workshop in the coming
weeks to review terms and conditions for the Project Certificate, following
which a Project Certificate would be issued in approximately 30-45 days. 

In the interim, Sabina has submitted Type A and Type B water license
applications to the Nunavut Water Board. The Type B water license will enable
Sabina to commence initial activities to further de-risk the project, and is
expected in Q1, 2018.  The Type A water license will enable full construction
and operation and is expected by Q4, 2018.  We anticipate review of these
applications to commence in the coming weeks. 

Sabina Gold & Silver Corp.

Sabina Gold & Silver Corp. is a well-financed, emerging precious metals company
with district scale, world class undeveloped assets in one of the world's
newest, politically stable mining jurisdictions: Nunavut, Canada. 

In September 2015, Sabina released a Feasibility Study on its 100% owned Back
River Gold Project which presents a project that has been designed on a fit-for
purpose basis, with the potential to produce ~200,000 ounces a year for ~11
years with a rapid payback of 2.9 years. At a US$1,150 gold price and a 0.80
exchange rate, the Study delivers a potential after tax internal rate of return
of approximately 24.2% with an initial CAPEX of $415 million. 

The Project has advanced through the environmental assessment process with a
positive decision from the federal government received December 5, 2017.  The
Project is now in the final regulatory and licensing phase. 

In addition to Back River, Sabina also owns a significant silver royalty on
Glencore's Hackett River Project. The silver royalty on Hackett River's silver
production is comprised of 22.5% of the first 190 million ounces produced and
12.5% of all the silver produced thereafter. 

The Company had cash and equivalents of C$38.5m at September 30, 2017.

For further information please contact:

Nicole Hoeller, Vice-President, Communications:     1 888 648-4218
nhoeller@sabinagoldsilver.com

Forward Looking Information
This news release contains "forward-looking information" within the meaning of
applicable securities laws (the "forward-looking statements"), including our
belief as to the extent, results of permitting and environmental assessment
outcomes, and access to project funding. These forward-looking statements are
made as of the date of this news release. Readers are cautioned not to place
undue reliance on forward-looking statements, as there can be no assurance that
the future circumstances, outcomes or results anticipated in or implied by such
forward-looking statements will occur or that plans, intentions or expectations
upon which the forward-looking statements are based will occur. While we have
based these forward-looking statements on our expectations about future events
as at the date that such statements were prepared, the statements are not a
guarantee that such future events will occur and are subject to risks,
uncertainties, assumptions and other factors which could cause events or
outcomes to differ materially from those expressed or implied by such
forward-looking statements. Such factors and assumptions include, among others,
the effects of general economic conditions, commodity prices, changing foreign
exchange rates and actions by government and regulatory authorities and
misjudgments in the course of preparing forward-looking statements. In
addition, there are known and unknown risk factors which could cause our actual
results, performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Known risk factors include risks associated with
exploration and project development; the need for additional financing; the
calculation of mineral resources and reserves; operational risks associated
with mining and mineral processing; fluctuations in metal prices; title
matters; government regulation; obtaining and renewing necessary licenses and
permits; environmental liability and insurance; reliance on key personnel; the
potential for conflicts of interest among certain of our officers or directors;
the absence of dividends; currency fluctuations; labour disputes; competition;
dilution; the volatility of our common share price and volume; future sales of
shares by existing shareholders; and other risks and uncertainties, including
those relating to the Back River Project and general risks associated with the
mineral exploration and development industry described in our Annual
Information Form, financial statements and MD&A for the fiscal period ended
December 31, 2016 filed with the Canadian Securities Administrators and
available at www.sedar.com. Although we have attempted to identify important
factors that could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. We are under no obligation
to update or alter any forward-looking statements except as required under
applicable securities laws. This news release is authorized by the undersigned
on behalf of Sabina Gold & Silver Corp. 

                        Bruce McLeod, President & CEO
                        Suite 1800 - Two Bentall Centre
                               555 Burrard Street
                              Vancouver, BC V7X 1M9
                      Tel 604 998-4175     Fax 604 998-1051
                        http://www.sabinagoldsilver.com
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© 2017 GlobeNewswire
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