Mr. Bruce McLeod reports

SABINA CLOSES $6 MILLION BOUGHT DEAL FLOW THROUGH FINANCING

Sabina Gold & Silver Corp. has closed its previously announced bought deal flow-through financing. The offering comprised 3.15 million common shares of the company at $1.75 per share.

In addition, the overallotment option granted to the underwriters (as defined below) was exercised for 320,000 common shares at $1.75 per share. This financing and the overallotment have been closed for total gross proceeds of $6,072,500.

The financing was underwritten by a syndicate of underwriters led by Canaccord Genuity and including Paradigm Capital Inc., Cormark Securities Inc., Echelon Wealth Partners Inc. and Haywood Securities Inc. The underwriters received a cash commission of 5 per cent of the gross proceeds from this financing.

"This financing enables the company to do some potentially high-impact drilling that could demonstrate opportunities for additional mine life at the Goose project that could provide extended benefits to all Sabina stakeholders," said Bruce McLeod, president and chief executive officer. "We are also continuing to work with all parties to progress the environmental assessment review of the project towards a Nunavut Impact Review Board recommendation in July, 2017."

About Sabina Gold & Silver Corp.

Sabina Gold is a well-financed, emerging precious metals company with district-scale, world-class undeveloped assets in one of the world's newest, politically stable mining jurisdictions: Nunavut, Canada.

Sabina recently released a feasibility study on its 100-per-cent-owned Back River gold project, which presents a project that has been designed on a fit-for-purpose basis, with the potential to produce approximately 200,000 ounces a year for approximately 11 years with a rapid payback of 2.9 years.

In addition to Back River, Sabina also owns a significant silver royalty on Glencore's Hackett River project.

We seek Safe Harbor.