Mr. Bruce McLeod reports

SABINA GOLD & SILVER REPORTS 2018 DRILLING HAS COMMENCED AT BACK RIVER GOLD PROJECT

Sabina Gold & Silver Corp.'s Goose camp has been successfully opened and crews have been mobilized and are drilling at the Goose property on its 100-per-cent-owned Back River gold project in Nunavut, Canada.

Drilling has commenced with a 6,000-metre first phase spring drill program with up to 20,000 metres to follow in a second phase summer drill program.

A key focus of the first phase drilling program will be a follow-up on last year's success at the Umwelt Vault and the Llama extension targets where significant mineralized intersections included: 16.86 grams per tonne gold over 13.50 m in drill hole 17GSE511B at Vault (see news release dated May 23, 2017) and 9.48 g/t Au over 38.55 m in drill hole 17GSE516B at Llama extension (see news release dated Sept. 5, 2017).

In addition to the continued drill testing of the main Umwelt and Llama gold structures, drilling will test targets located within significant gold trends where geologic modelling and past work indicate potential for large-scale growth. These target areas or main trends include: the Goose main gold trend; the laterally extensive DIF target horizon; and the over-two-kilometre-long Echo-Kogoyok gold trend. Drilling will also continue to target down-plunge and lateral extensions of the Echo deposit.

"During the 2017 exploration drilling campaign we had continued success in demonstrating the potential for new discovery and high-impact additions to mine life at the Goose project," stated Bruce McLeod, president and chief executive officer. "We have demonstrated that at Llama and Umwelt, the gold structures are robust for greater than two kilometres with potential for continued growth down plunge. It is our belief that we can continue to grow our gold resources by aggressively exploring along both our better-known gold trends and the newly emerging gold trends that are targeted for priority drilling this year."

Spring drilling program

Vault zone -- Umwelt

Drill testing of the Vault zone during 2017 continued to highlight the strong potential for enhanced grade over significant widths, along a central corridor with strike potential of over 300 metres. Drilling in 2018 will continue to test the high-grade potential at Vault to better define the size, continuity and grade of this zone. Initial drill testing will commence with one hole to target the Vault zone at approximately 650 m vertical depth where extension potential for high-grade mineralization associated with the zone has been identified. Additional areas will continue to be targeted based on the success of initial drilling results.

Llama extension

Two initial drill holes totalling approximately 1,400 metres have been planned to test an encouraging expansion potential surrounding the high-value intercepts reported in 2017 where mineralization is identified well down plunge (about 500 m) of current deposit resources. Success at the target is identified as an opportunity in unlocking further value in an underground setting for the Llama trend which is not part of the current development plan.

Goose main trend (Nuvuyak target)

Drilling, west along trend of the current Goose main open-pit plan, has been historically limited. Revised modelling concepts have highlight potential for probable extensions to this significant gold structure. Two holes are planned at this target which is located approximately two kilometres to the west of the Goose main deposit. The mineralization trend remains open both along strike and down plunge creating an excellent opportunity for continued discovery and growth similar to recent successes completed at Umwelt and Llama deposits.

Echo-Kogoyok trend

Vectoring and advancement of the Echo-Kogoyok trend will continue with additional drilling completed on a priority basis. This target remains a highly underexplored portion of the Goose property stratigraphy and is recognized as having many exploration elements analogous to local gold resource settings.

Additional work will include electromagnetic geophysical surveying, geochemical sampling programs and lead in desktop studies in support of summer field programs.

Qualified persons

The qualified person as defined by National Instrument 43-101 as pertains to the Back River project is Angus Campbell, PGeo, vice-president, exploration, 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. SGS quality systems conform to requirements of ISO/IEC-17025-standard guidelines and meet assay requirements outlined for NI 43-101.

Sabina Gold & Silver Corp.

Sabina Gold & Silver is well financed, with approximately $94.5-million in cash and equivalents, and is an emerging precious-metals company with district scale, advanced, high-grade gold assets in one of the world's newest, politically stable mining jurisdictions: Nunavut, Canada.

Sabina released a feasibility study on its 100-per-cent-owned Back River gold project, a project that has been designed on a fit-for purpose basis, with the potential to produce approximately 200,000 ounces a year for about 11 years with a rapid payback of 2.9 years ("Technical report for the initial project feasibility study on the Back River gold property, Nunavut, Canada," dated Oct. 28, 2015). At a $1,150 (U.S.) gold price and a 0.80 (U.S. dollar to Canadian dollar) exchange rate, the study delivers a potential aftertax internal rate of return of approximately 24.2 per cent with an initial capital expenditure of $415-million.

We seek Safe Harbor.