Mr. Bruce McLeod reports

SABINA GOLD & SILVER CORP COMPLETES $2.2 MILLION FINANCING

Sabina Gold & Silver Corp. has completed its previously announced non-brokered private placement. The placement was for 2,857,142 flow-through common shares at 77 cents per share for gross proceeds of approximately $2.2-million.

"We are excited about the results of this year's exploration work at Back River," said Bruce McLeod, president and chief executive officer, "and that, with the closing of this financing, we can continue to add shareholder value by pursuing further exploration in 2016, particularly at Kogoyok. We believe that using flow-through funds to facilitate this work is a more effective use of capital. We are also pleased that we were able to complete the financing at a significant premium. We look forward to reporting continuing advancements on the Back River gold project."

The discovery of the new zone of outcropping mineralization at Kogoyok is likely the most significant surface discovery on the Back River gold project since the early days of prospecting in the eighties. Kogoyok is within two kilometres of the proposed plant site at Goose and shares the same geological characteristics as the other major known deposits in the Back River district. While still early days, Kogoyok presents one of the many targets in the Back River district drill ready for future field campaigns. Its discovery strongly validates the company's current exploration strategy and targeting methodology. The identification of new shallow mineral occurrences at the Goose property speaks to the tremendous gold endowment of the project area and Sabina's continued ability to add value through successful exploration advancements focused on future resource additions.

In addition, the new Hivogani zone continues to gain momentum in host rock outside of the iron formation over an area of approximately 2.5 kilometres, which includes the identification of quartz vein stockworking locally within the trend. Budgets for the Back River gold project are being finalized and will be released before year-end.

The total gross proceeds must be used to incur Canadian exploration expenditures as defined by the Income Tax Act (Canada) by Dec. 31, 2016.

We seek Safe Harbor.