Mr. Bruce McLeod reports

SABINA GOLD & SILVER FILES NI 43-101 TECHNICAL REPORT FOR FEASIBILITY STUDY ON BACK RIVER GOLD PROJECT

Sabina Gold & Silver Corp. has filed its National Instrument 43-101 technical report entitled "43-101 Feasibility Study Technical Report for the Back River Gold Property, Nunavut," dated June 22, 2015, on SEDAR. The report has also been posted on the company's website.

On May 20, 2015, the company announced the positive results of a feasibility study on the Back River gold project in Nunavut, Canada.

The FS uses a gold price of $1,200 (U.S.) per ounce Au and an exchange rate of 0.87 (United States dollars to Canadian dollars).

Highlights include a scenario that could:

• Generate a posttax internal rate of return of 21.7 per cent and net present value (at a 5-per-cent discount rate) of $539-million;
• Generate life-of-mine posttax net cash flow of $914-million on gross revenues of $4.5-billion with a posttax payback period of 2.2 years (from start of operations);
• Process at a rate of 6,000 tonnes per day could produce an average of approximately 346,000 ounces of gold per year (postcommencement of commercial production);
• Generate average production of 413,000 ounces Au in years one through four;
• Provide an initial capital estimate of $695-million and sustaining capital estimate of $529-million (including closure);
• Generate a total LOM cash cost estimate of $535 (U.S.) per ounce Au (including third party royalties, refining and transport); LOM all-in sustaining cash cost estimate of $648 (U.S.) per ounce Au LOM (including sustaining capital);
• See LOM average metallurgical recoveries of 93 per cent.

"The FS demonstrates the opportunity for Back River to become a significant gold producer using conservative assumptions, generating robust economics in one of the better mining jurisdictions in the world," said Bruce McLeod, president and chief executive officer. "The high-grade nature of the deposits provide scalable opportunities that could enable us to develop the project in a manner that works in the current challenging capital markets environment, and we are continuing to assess these options. Meanwhile, we are also derisking Back River by moving the project forward through the environmental assessment process and aim to have our final environmental impact statement filed by the fourth quarter this year. The Back River FS was undertaken by a team with extensive Arctic experience, and we believe the study to be a realistic representation of how to build and operate a mine in Nunavut."

The table simplifies and restates information previously presented in the May 20, 2015, news release.

              PROJECT LIFE-OF-MINE UNIT OPERATING COSTS

Operating costs                                            Unit costs          

Mining                                      $          36.07/t milled
Open pit mining                             $            3.95/t mined
Underground mining                          $           48.84/t mined
Processing                                  $          26.04/t milled
Surface services                            $          13.08/t milled
General and administration                  $          13.61/t milled
Freight costs (ocean/port/ice roads)        $           4.48/t milled
Ore hauling (George to Goose)               $           3.00/t milled
Ore hauling (George to Goose)               $          19.35/t hauled
Total                                       $          96.28/t milled

In previous disclosure, all-in sustaining cash costs were stated to include closure costs. In accordance with the World Gold Council's definition, Back River's AISC should be calculated to include (refining costs plus insurance plus transport costs plus third party royalties plus operating costs plus sustaining capital costs) over payable Au ounces.

This brings the Back River AISC to $648 (U.S.) per ounce, which is different from $671 (U.S.) per ounce stated previously.

Closure capital costs are $89.0-million rather than $85.5-million reported in the previous news release. The correct value was carried in the FS project cash flow, and therefore this typo has no effect on other project economic values stated.

Authors and qualified persons statement

The FS was prepared under the direction of JDS Energy & Mining Inc. by leading independent industry consultants, all qualified persons under National Instrument 43-101. The qualified persons have reviewed and approved the content of this news release. The consultants and qualified persons shown in the table participated in the FS.

Qualified person,
designation                                Company      QP responsibility/role

Gord Doerksen, PEng            JDS Energy & Mining          Executive summary,
                                                     introduction, reliance on
                                                        other experts, mineral
                                                     reserves, infrastructure,
                                                        market studies, capex,
                                                      opex, economic analysis,
                                                          adjacent properties,
                                                          environmental, other
                                                                relevant data,
                                                              interpretations,
                                                              recommendations,
                                                                   references,
                                                        abbreviations, project
                                                               execution plan,
                                                     logistics, airstrips, ice
                                                     roads, marine structures,
                                                                           G&A
Dino Pilotto, PEng             JDS Energy & Mining              Mining methods
Andrew Fowler, MAusIMM,     AMC Mining Consultants            Mineral resource
CP (Geo)                                  (Canada)        estimates for George
Dinara Nussipakynova,       AMC Mining Consultants            Mineral resource
PGeo                                      (Canada)         estimates for Goose
John Morton Shannon,        AMC Mining Consultants       Property description,
PGeo                                      (Canada)     accessibility, history,
                                                            geology, deposits,
                                                        exploration, drilling,
                                                      sample preparation, data
                                                                  verification
Maritz Rykaart, PEng       SRK Consulting (Canada)      Geochemistry, tailings
                                                     management, water storage
Gerry Schwab, PEng                           Hatch              Infrastructure
Gavin Ritson, PEng                           Hatch      Metallurgy, recoveries
Dr. Rob Mercer, PhD, PEng           Knight Piesold               Geomechanical

The qualified person under NI 43-101 for Sabina Gold & Silver is Wes Carson, PEng, vice-president, project development, who has reviewed the content of this news release and approved its dissemination.

We seek Safe Harbor.