An anonymous representative of Sun Valley reports

SUN VALLEY GOLD LLC: DISPOSITION OF COMMON SHARES OF SABINA GOLD & SILVER CORP.

Sun Valley Gold LLC has disposed of an aggregate of 1.25 million common shares of Sabina Gold & Silver Corp. for and on behalf of client accounts over which it has discretionary trading authority. The common shares were sold over the facilities of the TSX Venture Exchange for $2.20 per share.

Following the disposition, Sun Valley exercises control and direction over an aggregate of 21,488,836 common shares for and on behalf of client accounts. The common shares over which Sun Valley exercises control and direction for and on behalf of client accounts represent approximately 9.51 per cent of the issued and outstanding common shares. Because Sun Valley now exercises control and direction over less than 10 per cent of the issued and outstanding common shares, it is no longer subject to ongoing early warning or insider reporting requirements in respect of its ownership of common shares. Sun Valley sold the common shares as part of its overall portfolio investment strategy. Sun Valley Fund may increase or decrease its ownership of securities of Sabina Gold & Silver depending upon future market conditions.