Mr. Bruce McLeod reports

SABINA GOLD & SILVER ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FLOW THROUGH FINANCING TO RAISE APPROXIMATELY C$6 MILLION

Sabina Gold & Silver Corp. has arranged a non-brokered private placement, pursuant to which it will sell approximately three million flow-through common shares at a price of $2 per share to raise gross proceeds of approximately $6-million. The proceeds from the sale of the flow-through common shares will be used for exploration on the company's Back River project.

"This financing enables us to use flow-through dollars rather than the hard dollars allocated for continued development activities at Back River," said Bruce McLeod, president and chief executive officer. "This funding provides for an additional 10,000 metres at Back River to follow up on successes from this year's spring program as well as last year's program."

The financing is scheduled to close on or about May 15, 2018, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. The total gross proceeds from the financing must be used to incur Canadian exploration expenditures as defined by the Income Tax Act (Canada) by Dec. 31, 2019.

About Sabina Gold & Silver Corp.

Sabina Gold & Silver is well financed and had approximately $94.5-million in cash and equivalents after closing a strategic equity investment in January, 2018. The company 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.