Mr. Tony Walsh reports

SABINA GOLD & SILVER REPORTS MORE SUCCESSFUL RESULTS FROM THE UMWELT DEPOSIT, BACK RIVER GOLD PROJECT, NUNAVUT

Sabina Gold & Silver Corp. is providing additional assay results from holes drilled as part of the 2011 exploration program on its Umwelt deposit at the Goose claim block at its 100-per-cent-owned Back River project in Nunavut, Canada.

The recently completed 2011 drilling campaign at Back River focused on expanding the existing deposits at Umwelt and Llama and looking for new discoveries by applying the company's exploration tool box to open-pit targets on the Goose and George claim blocks, as well as the Wishbone gold claims. The last of the company's Nunavut drills shut down on Oct. 3, having completed a record total of 73,650 metres of drilling on gold targets in 2011.

The last holes drilled at Umwelt as part of the 2011 program were focused on infilling underdrilled gaps in preparation for the new resource estimate and extending areas of open mineralization.

Further results have been returned from drilling at the newly identified G2 zone at Umwelt. Hole 11GSE123 on Section 4250 north returned 6.85 grams per tonne gold over 32.95 metres including 9.46 grams per tonne gold over 16.85 metres. This hole is at a vertical depth of 550 metres and targeted a gap in drilling up plunge of the G2 zone. This hole further demonstrates the strong grade and thickness of mineralization being outlined at G2.

New results at Umwelt also include two holes that targeted extensions of the resource defined by drilling in 2010. Both of these holes tested down-dip extensions of mineralization to the east on the Main zone, successfully expanding the zone. Hole 11GSE114 on Section 4650 north (included in a news release table released Sept. 13, 2011) returned 9.63 grams per tonne gold over 9.60 metres. This hole is 35 metres down dip of hole 10GSE146 (which returned 1.25 grams per tonne gold over 8.65 metres), extending and opening up the potential for further mineralization down dip. Hole 11GSE130 on Section 4750 north returned 5.34 grams per tonne gold over 28.35 metres including 21.02 grams per tonne gold over 5.8 metres. This hole is located immediately below the bottom of the open pit shell as defined by RPA and extends the mineralized zone in hole 10GSE112 (10.25 grams per tonne gold over 35.50 metres) a further 45 metres down dip.

New results for holes designed to fill gaps in drilling include hole 11GSE118 on Section 4500 north, which targeted a 110-metre gap between previously reported holes 11GSE031 (grading 4.78 grams per tonne gold over 17.00 metres) and hole 11GSE052 (grading 10.19 grams per tonne gold over 33.00 metres). Hole 11GSE118 returned 5.46 grams per tonne gold over 27.53 metres, including 8.73 grams per tonne gold over 15.03 metres, further demonstrating the thickness, solid grade and overall continuity of the Umwelt deposit.

Additional results from shoulder sampling on hole 11GSE106 in the G2 zone (reported on Sept. 29) have expanded the width of the intercept by a further 6.35 metres to total 29.85 metres grading 9.48 grams per tonne gold.

There are numerous assays still outstanding and currently assays for Umwelt are being prioritized to enable for the calculation of an updated resource estimate in preparation for the coming preliminary economic assessment expected at the end of first-quarter 2012.

"We are very encouraged by the success we've had this year in identifying good grades and good widths in our deposit areas, as well as identifying new discoveries on our claim blocks," said Tony Walsh, president and chief executive officer. "Our team is looking forward to assessing all 2011 results in order to plan next year's program. We expect that drilling this year on Umwelt has added significantly to the resource and we are excited about the numerous other targets we have for follow-up work and initial reconnaissance. We are very proud of the success we have had at Back River in what has essentially been two drilling campaigns."

Umwelt

The Umwelt deposit, discovered in 2010, contains an indicated resource of 4.6 million tonnes grading 6.0 grams per tonne gold for a total of 900,000 ounces of gold and an inferred resource of 1.1 million tonnes grading 6.4 grams per tonne gold for a total of 221,000 ounces of gold. Drilling in 2011 has extended this resource approximately 900 metres along strike to the south. The Umwelt deposit has now been defined over a 1.15-kilometre strike length and for 1.5 kilometres down plunge, and remains open.

The mineralized zones are hosted within a turbiditic sedimentary sequence containing silicate and oxide facies iron formations. Gold dominantly occurs with quartz plus/minus carbonate veining and arsenopyrite plus/minus pyrite plus/minus pyrrhotite in the iron formation. Drilling at Umwelt has identified an anti-form structure with a fold hinge that plunges to the south. Thick zones of gold mineralization are associated with the fold hinge in what is now known as the Main zone. Mineralization also occurs along a separate iron formation horizon immediately to the west known as the West zone.

Preliminary economic evaluation update

The Umwelt, Goose and Llama deposits are located within a five-kilometre-long corridor and are envisioned as three major open pits supporting a central milling facility located on the Goose claim block. The George deposit, approximately 50 kilometres to the north on the George claim block, is envisioned as an underground satellite deposit that would be mined and transported to the mill at Goose by a winter road. The company has recently engaged SRK Engineering Ltd. to commence work on a preliminary economic assessment of a gold mining operation at Back River. The study will comprise the new open pit Goose resource, the soon-to-be updated Umwelt and newly generated Llama resources (incorporating 2011 drilling), as well as the existing George resource. The study is anticipated to be completed early in 2012, after which, if positive, a preliminary project description will be filed with the Nunavut Water Board to initiate the permitting process for the project.

Quality assurance

Doug Cater, PGeo, project manager, Back River project, Sabina Gold & Silver, is a qualified person under the terms of NI 43-101, has reviewed the technical content of this news release for the Back River project and has approved its dissemination.

The mineral resource estimates for the Llama and Umwelt deposits were generated by Roscoe Postle Associates (RPA) in March, 2011. These are all posted on SEDAR.

The mineral resource estimate for the Goose deposit was generated by RPA in September, 2011.

Diamond drill core was sent to TSL Laboratories in Saskatoon, Sask. Quality control is monitored on a continual basis and utilizes a system of standards, blanks and duplicates to ensure analytical accuracy. The protocols and procedures used in 2011 are the same as those used in earlier campaigns by Sabina Gold & Silver and have been deemed appropriate in the above-noted 43-101-compliant resource reports.

                    RECENT UMWELT DRILL RESULTS

                 Depth       From         To     Length         Au
Hole ID            (m)        (m)        (m)        (m)      (g/t)

11GSE106           755     698.50     728.35      29.85      10.91
11GSE108           428     139.50     141.00       1.50       2.39
                           289.85     294.00       4.15       1.36
                           376.00     378.00       2.00       3.34
11GSE109           497     476.00     478.25       2.25       6.64
11GSE116           569     511.90     527.00      15.10       2.02
including                  515.00     516.00       1.00      11.27
and                        524.00     526.00       2.00       4.58
11GSE118           406     348.25     389.53      41.28       3.84
                           362.00     389.53      27.53       5.46
including                  374.50     389.53      15.03       8.73
11GSE122         473.5     339.86     341.00       1.14       4.94
11GSE123           638     573.90     606.85      32.95       6.85
including                  573.90     575.00       1.10      42.25
including                  590.00     606.85      16.85       9.46
11GSE127           426     388.20     389.00       0.80       5.09
                           395.55     401.00       5.45       1.05
11GSE128           398     296.65     297.90       1.25      11.11
                           345.00     354.00       9.00       5.51
including                  349.00     352.00       3.00      11.47
11GSE129         295.1     137.20     138.20       1.00       5.83
                           151.60     152.50       0.90       3.17
                           161.65     162.20       0.55       2.47
11GSE130           317     256.70     285.05      28.35       5.34
including                  277.80     283.60       5.80      21.02

We seek Safe Harbor.