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Enter Symbol
or Name
USA
CA



Sabina Gold & Silver Corp
Symbol SBB
Shares Issued 226,653,652
Close 2017-12-08 C$ 2.27
Market Cap C$ 514,503,790
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Sabina Gold's water licence applications being reviewed

2017-12-11 09:25 ET - News Release

Mr. Bruce McLeod reports

SABINA GOLD & SILVER ANNOUNCES COMMENCEMENT OF THE REVIEW OF ITS WATER LICENSE APPLICATIONS FOR THE BACK RIVER PROJECT

The Nunavut Water Board (NWB) has commenced public review of Sabina Gold & Silver Corp.'s Type A and Type B water licence applications related to initial development, mine construction and operation of the Back River project.

As announced on Dec. 6, 2017, the Minister of Indigenous and Northern Affairs Canada, on behalf of the five responsible federal ministers, accepted Nunavut Impact Review Board's recommendation for the project to proceed to the regulatory and licensing phase. The NIRB has advised that the final project certificate will be issued on or before Jan. 4, 2018.

The Type B water licence would enable Sabina to commence certain initial predevelopment activities in 2018 including onsite construction of service roads and laydown pads, and the mobilization of fuel, supplies and equipment at the Goose property and marine laydown area. Sabina anticipates approval of the Type B water license in late Q1, 2018.

The Type A water licence would allow for full construction and operation of the Back River project. Sabina anticipates approval of the Type A water licence in Q4, 2018.

"With a positive ministers decision now in hand we are pleased to see that the licensing process has commenced which will enable full development of the Back River project," said Bruce McLeod, president and chief executive officer. "We look forward to receiving the project certificate, various final licences as well as finalizing the definitive agreements with the Kitikmeot Inuit Association for land tenure and Inuit benefits."

Sabina Gold & Silver Corp.

Sabina Gold & Silver is a well-financed, emerging precious metal 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.

In addition to Back River, Sabina also owns a significant silver royalty on Glencore's Hackett River project; the silver royalty on Hackett River's silver production comprises 22.5 per cent of the first 190 million ounces produced and 12.5 per cent of all the silver produced thereafter.

The company had cash and equivalents of $38.5-million at Sept. 30, 2017.

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