Mr. Bruce McLeod reports

SABINA GOLD & SILVER RECEIVES TYPE B WATER LICENSE FROM NUNAVUT WATER BOARD

Sabina Gold & Silver Corp. has received its Type B water licence from the Nunavut Water Board (NWB) for the company's 100-per-cent-owned Back River gold project in Nunavut, Canada.

Following receipt of the project certificate for Back River in December, 2017, marking the end of the environmental assessment phase for the Goose mine, Sabina submitted various licences and work authorization applications to advance development of the project.

Two particularly important licences are the Type A and Type B water licences, for which applications were submitted in October and November, 2017. The Type B water licence that has been issued by the NWB is a key authorization to complete work planned for the project in 2018. The Type B water licence permits Sabina to complete preconstruction infrastructure works, including preparing the marine laydown area to receive necessary fuel, equipment and supplies to the Back River project, as well predevelopment earthworks to establish all-weather roads between the deposits, camp sites, tailings storage facility and the mill site.

"The issuance of the Type B licence is critical to the work planned at site this year, and we are pleased to have received it in a timely fashion," said Bruce McLeod, president and chief executive officer. "As reported, camp is open and we have commenced up for what we hope will be a successful drilling campaign as well as a fruitful season in preparing site for construction. We look forward to reporting on activities throughout the year."

The Type A water licence review is in process and is expected by the end of 2018.

About Sabina Gold & Silver Corp.

Sabina Gold & Silver is well financed with approximately $94.5-million (after closing an equity financing on Jan. 19, 2018) in cash and equivalents and is an emerging precious metal 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, 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 (see "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/Canadian dollar) exchange rate, the study delivers a potential after-tax internal rate of return of approximately 24.2 per cent with an initial capex of $415-million.

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

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