Mr. Bruce McLeod reports

SABINA GOLD & SILVER REPORTS FINAL RESULTS FROM SUMMER DRILL PROGRAM A MINERALIZED DEEP IRON FORMATION DISCOVERED UNDER LLAMA AND UMWELT DEPOSITS

Sabina Gold & Silver Corp. has released final assay results from the summer exploration diamond drilling program at its 100-per-cent-owned Back River gold project in Nunavut, Canada. Drilling intercepts have highlighted the importance of a mineralized deep iron formation (DIF) horizon approximately 40 to 100 metres stratigraphically below the main lower iron formation at the Llama and Umwelt deposits. Initial assay results of up to 98.31 grams per tonne gold over 1.13 m from drill hole 17GSE521 and 23.20 g/t Au over 2.05 m including 48.65 g/t Au over 0.95 m from 17GSE528 have been returned. Other significant drill results are included in the associated table.

The DIF horizon is a new stratigraphic target over a distance of greater than three kilometres at Back River within the Llama and Umwelt deposit trends and is believed to be relatively continuous and favourably folded within the Goose project area. This new horizon is analogous to the DIF and lower sediments at the Goose Main deposit, which hosts approximately 20 per cent of the existing Goose Main resource.

"We are very encouraged by the identification of this new mineralized parallel target zone under the main gold-bearing structure at Llama and Umwelt," said Bruce McLeod, president and chief executive officer. "The DIF horizon appears to be widespread at the Goose property and has been identified at other deposits in the project area through drilling and surface mapping. While more exploration is warranted to test the significance of this horizon at Llama and Umwelt, these results continue to demonstrate the potential of this strong gold-endowed district for diverse resource growth opportunities."

The summer drill program has now tested portions of this DIF horizon and proximal lower sediments in three key areas including:

• North of the Umwelt deposit, five drill holes tested the east fold limb of the Umwelt DIF over a 250 m strike length at a shallow depth level from 66 to 230 m. Drill hole 17GSE521 intersected 98.31 g/t Au over 1.13 m from 207.0 to 208.13 m and 3.88 g/t Au over 2.61 m from 221.84 to 224.45 m.
• The central fold limbs of the Umwelt DIF was targeted immediately below the Umwelt deposit open-pit resources, with two drill holes (17GSE526 and 17GSE528) at an intermediate depth level of 290 m to 450 m. Drill hole 17GSE526 intersected 3.14 g/t over 1.25 m from 444.95 to 446.20 m within eastern limb of the central antiform and a high-grade zone running 23.20 g/t Au over 2.05 m including 48.65 g/t Au over 0.95 m from 470 to 472.05 m within mineralized and veined lower sediments was intersected by drill hole 17GSE528.
• The east fold limb of the Umwelt DIF immediately below the Umwelt deposit vault zone was intersected by drill hole 17GSE525 from 940.2 to 975.1 m. This zone had minor arsenopyrite and pyrrhotite mineralization but returned no significant gold values.

            TABLE OF SIGNIFICANT DRILL INTERSECTIONS
 
Hole              From           To          Length            Au 
ID                 (m)          (m)             (m)         (g/t)

17GSE521        207.00       208.13            1.13         98.31
                221.84       224.45            2.61          3.88
17GSE526        444.95       446.20            1.25          3.14
17GSE528        366.40       367.15            0.75          1.37
                470.00       472.05            2.05         23.20
incl.           470.00       470.95            0.95         48.65
        
True widths of the intervals are unknown at this time.                                               

DIF target

Mineralization within the DIF zone is focused within a folded, interbedded sequence of silicate iron formation and turbidite sediments where the units are coincident with gold-bearing structures. Arsenopyrite, pyrrhotite and pyrite occur in variable concentrations within the DIF horizon where a portion of high-grade mineralization is recognized to occur in association with localized quartz veining. Recognition of this broad new stratigraphic zone with structural elements common to other Goose property deposits is a technical success. Concurrently developing the geological and mineralization framework, testing of the DIF target is considered preliminary therefore additional modelling and future exploration targeting will focus to best understand and evaluate for resource additions.

Summer drilling summary

Sabina completed 9,869 metres of drilling in 17 drill holes during the summer program with significant success demonstrated at the Umwelt vault and Llama extension targets (news releases dated Sept. 5, 2017; Oct. 19, 2017; Nov. 2, 2017). Exploration efforts focused on the continued advancement of key mineralization settings that are analogous to current Back River resources.

Testing of prominent gold trends at the Goose property included drilling at the GNS and Kogoyok targets. At GNS, favourable structure and stratigraphy coincident with mineralization are interpreted to be a shallow limb expression linked to the larger Llama-Umwelt trend. Drill hole 17GSE529 was completed during the summer program, testing open-plunge controls in an effort to establish orientation of the mineralizing structure. At Kogoyok two drill holes systematically and successfully tested a favourable intersection lineation of lower iron formation and a felsic intrusion within a controlled-plunge orientation over a strike length of approximately 120 m. The second drill hole, 17GSE527, returned no significant results.

Exploration at the GNS and Kogoyok targets continues to advance and remains fundamental in the development of the geological framework that is a key tool in vectoring toward further resource potential at the Goose property.

All additional results not previously released from the summer 2017 drill program are summarized in the associated table.

Sabina will integrate the 2017 drill results and findings to further enhance the current geological model, and together with new geophysical surveys and renewed prospecting and mapping efforts Sabina will continue to pursue and focus on high-impact greenfield and resource extension opportunities through 2018.

Qualified persons

The qualified person as defined by NI 43-101 as pertains to the Back River project, is James Maxwell, PGeo, exploration manager, for the company. All drill core samples selected within the exploration program are subject to a company standard of internal quality control and quality assurance programs which include the insertion of certified reference materials, blank materials and duplicates analysis. All samples are sent to SGS Canada Inc. located in Burnaby, B.C., where they are processed for gold analysis by 50-gram fire assay with finish by a combination of atomic absorption and gravimetric methods. Additionally, analysis by screen metallic processes is performed on select samples.

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.

In September, 2015, Sabina 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. At a $1,150 (U.S.) gold price and an exchange rate of 0.80, the study delivers a potential after-tax internal rate of return of approximately 24.2 per cent with an initial capex of $415-million.

       TABLE OF REMAINING SIGNIFICANT DRILL INTERSECTIONS
 
Hole              From         To          Length             Au
ID                 (m)        (m)             (m)          (g/t)

17GSE516                                        abandoned -- NSV
17GSE516B       165.70     166.75            1.05           1.50
                178.30     179.20            0.90           1.06
                461.80     462.25            0.45           4.61
                619.60     620.90            1.30           1.05
                622.90     625.10            2.20           1.14
                653.75     654.70            0.95           1.40
                658.60     659.70            1.10           1.31
                720.75     722.25            1.50           1.74
17GSE521        207.00     208.13            1.13          98.31
                221.84     224.45            2.61           3.88
17GSE522B       612.15     615.85            3.70           5.27
incl.           614.70     615.85            1.15          14.94
                633.05     633.95            0.90           4.05
17GSE523                                        abandoned -- NSV
17GSE524         66.40      66.95            0.55           2.40
                294.65     295.70            1.05           1.07
                636.30     636.90            0.60           9.53
17GSE525        665.30     666.45            1.15           2.34
                721.60     723.00            1.40           1.79
                805.85     807.85            2.00           1.14
                810.00     811.00            1.00           1.18
                816.40     817.00            0.60          11.67
17GSE526        444.95     446.20            1.25           3.14
17GSE527                                                     NSV
17GSE528        231.40     232.40            1.00           1.21
                239.00     240.15            1.15           2.59
                366.40     367.15            0.75           1.37
                470.00     472.05            2.05          23.20
incl.           470.00     470.95            0.95          48.65
17GSE529        313.45     320.45            7.00           1.38