Mr. Bruce McLeod reports

SABINA GOLD & SILVER CORP. FILES FINAL BASE SHELF PROSPECTUS

Sabina Gold & Silver Corp. has filed a final base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada other than Quebec.

The shelf prospectus will enable Sabina to make offerings of up to $500-million of any combination of common shares, debt securities, subscription receipts, units and warrants during the 25-month period that the shelf prospectus, including any amendments thereto, remain valid. The nature, size and timing of any such financings (if any) will depend, in part, on Sabina's assessment of its requirements for financing and general market conditions. Unless otherwise specified in the prospectus supplement relating to a particular offering of securities, the net proceeds from any sale of any securities will be used to advance Sabina's business objectives and for general corporate purposes, including financing continuing operations and/or working capital requirements, repaying indebtedness outstanding from time to time, discretionary capital programs, and potential future acquisitions. The specific terms of any future offering will be established in a prospectus supplement to the shelf prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities.

About 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.