Sabina Gold & Silver Corp.: Sabina Gold & Silver Announces 9.9% Strategic Investment by Zhaojin International Mining Co., Ltd.

VANCOUVER, British Columbia, 2017-12-19 18:58 CET (GLOBE NEWSWIRE) --
Sabina Gold & Silver Corp (TSX:SBB.T), ("Sabina" or the "Company") is pleased
to announce that Zhaojin International Mining Co., Ltd. ("Zhaojin
International") has agreed to purchase 24,930,000 common shares of the Company
at a price of $2.65 per share for a total investment of approximately
$66,100,000 in a private placement (the "Financing").  Upon completion of the
Financing, Zhaojin International will own approximately 9.9% of the Company's
issued and outstanding common shares on a non-diluted basis. Zhaojin
International is a subsidiary of Zhaojin Mining Industry Co. Ltd. ("Zhaojin"),
which is a leading Chinese gold producer and one of China's largest gold
smelting companies. 

"We are very excited to welcome Zhaojin, a leading Chinese gold producer, as a
strategic investor. Zhaojin's investment represents a significant milestone for
Sabina and is a strong endorsement of the work completed to date at our world
class Back River project. This financing with Zhaojin provides Sabina with a
cornerstone investor that has financial and technical resources to assist us in
advancing the project to production.  With this capital in hand, we are
currently working on finalizing plans and budgets for 2018 which will focus on
de-risking the project with initial pre-construction activities as well as
furthering exploration activities," said Bruce McLeod, President and CEO. 

In connection with the Financing, Sabina and Zhaojin International have signed
a Shareholder Agreement which includes the following provisions: 

  -- A standstill in effect for four years from the closing date of the
     Financing;
  -- A 12 month lock up on share dispositions;
  -- Zhaojin International will have an option to increase its shareholding to
     up to 19.9% of the common shares of the Company by a grant of participation
     rights in future financings (up to 33% per financing), subject to certain
     terms and conditions, including the receipt of shareholder approval of
     Zhaojin, if required, and the receipt of regulatory and Sabina's Board's
     approval;
  -- Zhaojin International will have the right to nominate one director to
     Sabina's board at 9.9% ownership and shall have the right to appoint a
     second director should its equity position increase to 19.9%;
  -- A voting arrangement whereby Zhaojin International will exercise all of its
     votes associated with its common shares in support of matters proposed by
     Sabina's Board of Directors to shareholders of the Company (other than
     certain identified matters) for four years after the closing date of the
     Financing.

In connection with the financing, Sprott Asia acted as advisor on the
transaction, BMO Capital Markets acted as financial advisor and Gowling WLG was
retained as legal advisor for Sabina. 

The Financing is subject to regulatory and other customary approvals.

Zhaojin International Mining Co., Ltd.

Zhaojin International Mining Co., Ltd. is a subsidiary of Zhaojin Mining
Industry Co. Ltd., which is a leading Chinese gold producer and one of China's
largest gold smelting companies.  They operate across the full production
chain, integrating exploration, mining, mineral processing, smelting and
marketing.  With more than 60 years of gold mining operations they are one of
the world's lowest cost producers.  Since its listing on the Hong Kong Stock
Exchange in 2006, Zhaojin has grown into one of China's largest gold miners
with annual gold production of 655k ounces of gold per year and reserves of
13.6 million ounces of gold. Currently they are working on developing the
world's largest single ore body gold deposit, the Haiyu deposit in East Asia.
Zhaojin's plans are to double their production base within the next five to ten
years through investments in international operations. 

Sabina Gold & Silver Corp.

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

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 (see "Technical Report for the Initial Project Feasibility
Study on the Back River Gold Property, Nunavut, Canada" dated October 28,
2015).  At a US$1,150 gold price and a 0.80 (US$:C$) exchange rate, the Study
delivers a potential after tax internal rate of return of approximately 24.2%
with an initial CAPEX of $415 million. 

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 silver produced thereafter. 

The Company had approximately C$38 million in cash and equivalents on September
30, 2017. 

For further information please contact:

Nicole Hoeller, Vice-President, Communications:     1 888 648-4218
[e-mail]

All news releases and further information can be found on the Company's website
at www.sabinagoldsilver.com or on SEDAR at www.sedar.com. All technical reports
have been filed on www.sedar.com. 

Forward Looking Statements
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 and timing of project financing, regulatory
approvals, receiving the equity component of project financing among other
things. 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 licences 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 the 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 has been authorized by the undersigned on behalf of Sabina
Gold & Silver Corp. 

                        Bruce McLeod, President & CEO
                  1800-555 Burrard Street, Two Bentall Centre
                              Vancouver, BC V7X 1M9
                      Tel [phone]     Fax [phone]
                        http://www.sabinagoldsilver.com