Mr. Bruce McLeod reports

SABINA GOLD & SILVER ANNOUNCES PRIVATE PLACEMENT FINANCING TO RAISE APPROXIMATELY $1.35 MILLION

Sabina Gold & Silver Corp. has arranged a non-brokered private placement pursuant to which it will sell up to approximately 2.7 million flow-through common shares at a price of 50 cents to raise gross proceeds of approximately $1.35-million. The proceeds from the sale of the flow-through common shares will be used to explore and advance the company's Back River gold project.

"While the company has a well-provisioned treasury that would see us end the year with approximately $16-million, this small flow-through financing, subscribed for by directors and employees only, enables us to directly contribute to exploration and environmental assessment efforts at Back River, with minimal dilution, while preserving the hard dollars in our treasury to continue progressing the project through permitting and other studies," said Bruce McLeod, president and chief executive officer. "Back River has reached the critical mass of ounces to push the project towards production however the board and management believe that ongoing work to identify new targets at Back River will continue to demonstrate the district-scale nature of the property which will build long-term value for the company. The financing price is an approximate 21-per-cent premium to the 20-day volume-weighted average price. We believe this financing demonstrates the confidence we at Sabina have in our project and our company, and will help to significantly increase insider ownership."

New director appointment

The board of directors is also pleased to announce the appointment of Walter Segsworth to the board.

Mr. Segsworth has 40 years of experience in mining in Canada and overseas, and has served as a senior officer of several mining companies, including Westmin Resources, where he was president and CEO, and Homestake Mining Company, where he was president and chief operating officer. Mr. Segsworth is currently lead independent director of Pan American Silver, and a director at Roxgold Inc., Gabriel Resources Ltd. and Taung Gold International Ltd. Mr. Segsworth is past chairman of both the Mining Associations of British Columbia and Canada, and was named B.C.'s Mining Person of the Year in 1996. He served as the non-executive chairman of Cumberland Resources Ltd., which was developing the Meadowbank Gold deposit in Nunavut when it as acquired by Agnico Eagle Mines Ltd. in 2007. He received his bachelor of science in mining engineering from Michigan Technology University. Mr. Segsworth is independent within the meaning of National Instrument 58-101.

Mr. Segsworth's experience is a critical asset to the board and the company as it transitions from developer to producer.

The financing is scheduled to close on or about July 20, 2015, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. The total gross proceeds from the financing must be used to incur Canadian exploration expenditures as defined by the Income Tax Act (Canada) by Dec. 31, 2016.

We seek Safe Harbor.