Mr. Bruce McLeod reports

SABINA GOLD & SILVER CONTINUES TO GROW HIGH GRADE GOLD ZONE AT LLAMA EXTENSION TARGET

Sabina Gold & Silver Corp. has released the first results from the 2018 spring exploration diamond drilling program at its 100-per-cent-owned Back River gold project in Nunavut, Canada. Approximately 6,000 metres of planned drilling with two rigs are progressing on schedule with the objective of testing high-impact targets at the Goose property that include: Llama extension, Umwelt vault, the Goose main trend and the prospective and relatively untested DIF (deep iron formation) horizon.

Drill hole 18GSE530 which intersected, 15.67 grams per tonne gold over 23.25 metres, including 32.56 g/t Au over 10.30 m (using a 100 g/t cut-off for higher-grade assays), in altered and mineralized iron formation, follows up on last year's success at the Llama extension target where significant mineralized intersections included 9.48 g/t Au over 38.55 m in drill hole 17GSE516B (see news release Sept. 5, 2017). The new drill hole, 18GSE530, is located approximately 60 m up plunge from drill hole 17GSE516B. This high-grade area of gold mineralization, located approximately 450 m down plunge of the current Llama deposit resources, remains open and is the focus of current Llama extension drilling.

"During the 2017 exploration drilling campaign we had great success in demonstrating the tremendous growth potential that exists along the Llama gold structure," stated Bruce McLeod, president and chief executive officer. "This year we will target the higher-grade potential within the trend to better understand the geologic controls and overall size and tenor of the zone. The Llama underground resource area is not currently in the development plan, but as we have seen with the Umwelt vault zone, zones of high-grade gold over significant widths at depth continue to demonstrate the potential for extended mine life and enhanced project economics."

             TABLE OF SIGNIFICANT DRILL INTERCEPTS FROM DRILL HOLE 18GSE530
 
Hole ID                From         To     Length             Au       Au capped at 100
                        (m)        (m)        (m)          (g/t)                  (g/t)

18GSE530                                                                 assays pending
                     680.60     684.60       4.00           1.02                    n/a
                     693.55     716.80      23.25          16.32                  15.67
incl.                700.10     710.40      10.30          34.02                  32.56
incl.                704.30     705.25       0.95         115.80                 100.00
incl.                707.05     708.25       1.20          97.65                    n/a
                                                                         assays pending
* True widths of the intercepts reported are unknown at this time. 
** Capping for high-grade exploration assay(s) is consistent with the 
resource statistics employed for mineral resources related to the 
respective deposit areas at Back River.

Llama extension and high-grade gold zone

The Llama extension target represents the down-plunge potential of the Llama gold structure that is outside of the currently defined resource. Extensions to the gold structure have been partially tested by drilling completed in 2017 and now with this initial drill hole in the 2018 spring drilling campaign. The gold-bearing stratigraphy and structure has been shown to continue to a distance of over 500 m below or down plunge from the current resource limits or 1,275 m down plunge from the current Llama open-pit limits. The Llama gold structure remains open down plunge.

Drill hole 18GSE530 intersected strongly altered and mineralized silicate and oxide iron formation, units which comprise the lower iron formation, the geologic host to the majority of Back River gold resources. Mineralization and alteration in the drill hole are characterized by significant arsenopyrite, pyrrhotite and locally visible gold with associated significant quartz veining and strong amphibole and chlorite alteration. It is observed that the characteristics of the mineralization and alteration observed in drill hole 18GSE530 have strong similarities to that of the high-grade mineral zone intersected in drill hole 17GSE516B. Further geologic modelling and drilling will focus on better understanding the limits and controls of this zone which is open in all directions of the structure and stratigraphy as it is currently defined.

Qualified persons

The qualified person as defined by National Instrument 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. SGS quality systems conform to requirements of ISO/IEC standard 17025 guidelines and meets assay requirements outlined for NI 43-101.

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.