Mr. Bruce McLeod reports

SABINA GOLD & SILVER ANNOUNCES INTERIM FINANCIAL RESULTS FOR THE QUARTER ENDED MARCH 31, 2018

Sabina Gold & Silver Corp. has released its interim financial results for the quarter ended March 31, 2018.

"The first quarter was a busy one for Sabina," said Bruce McLeod, the Company's President& CEO. "We welcomed a new significant shareholder in Zhaojin International Mining Co., Ltd., we received our Type B Water License, the authorization required to do the pre-development infrastructure improvements, we launched our 2018 exploration drilling campaign and commenced pre-development activities. Pre-development work focused on the marine laydown area in Bathurst Inlet to prepare it for receiving equipment and supplies. Additionally, we continued to assess and advance project financing alternatives. And shortly after the quarter, negotiations were concluded with the Kitikmeot Inuit Association on land tenure and Inuit impact and benefits. We look forward to reporting further exploration results and providing a project update through the coming months."

Q1 2018 Highlights:

• The Company had cash and cash equivalents and short-term investments of $86.0 million at March 31, 2018;
• On January 19, 2018, the Company completed a financing of 24,930,000 common shares with Zhaojin International Mining Co., Ltd. at $2.65 per share for gross proceeds of $66.1 million.
• On February 9, 2018, Leo Zhao was appointed to the Company's Board as Zhaojin International's nominee in relation to its investment.
• In February, the Company announced 2018 budget plans of $83 million focusing on the commencement of pre-development infrastructure improvements at the Back River Project as well as exploration of potentially high value targets.
• Drilling commenced in early March 2018 with a first phase 6,000 meter program at the Goose property. Subsequent to the quarter, on April 8, the Company announced first drilling results from the Llama extension zone reporting Hole 18GSE530 returned 15.67 g/t au over 23.25 meters including 32.56 g/t au over 10.30 meters.
• On March 14, 2018, the Company received its Type B Water License from the Nunavut Water Board, a key authorization to complete work planned for the Back River project in 2018.
• On March 15, 2018, Mr. Lello Galassi joined the Company as its Vice-President, Project Development and Construction. Mr. Galassi brings to the role extensive experience in acquisition, development, and project construction management for significant greenfield mining projects in remote areas of the world.
• The Company filed a final base shelf prospectus with various Canadian securities administrators on March 26, 2018. The shelf prospectus will enable the Company to make offering of up to $500 million of any combination of common shares, debt securities, subscription receipts, units and warrants during the next two years.
• Subsequent to the quarter, on April 23, 2018, the Company completed the definitive Framework Agreement (FA) with the Kitikmeot Inuit Association (the Nunavut Landowner) on terms consistent with the Binding Term sheet signed in October of 2017. The FA provides the commercial leases authorizing mine development and operations and is a comprehensive agreement which sets out rights and obligations with respect to surface land access on Inuit owned land. The FA includes an Inuit Impact and Benefits Agreement among other obligation required by the Nunavut land claims agreement.
• Subsequent to the quarter, the Company announced on May 3, 2018 a flow through financing of approximately 3 million shares at $2.00 per share for gross proceeds of $6 million. The financing is set to close on or about May 15, 2018.

Financial Results

For the quarter ended March 31, 2018, the Company reported a net loss of $2.6 million, compared to $1.4 million in the same period of 2017. The difference was largely the result of higher share-based payments, professional fees, and deferred income taxes, partially offset by an increase in net finance income. For the full March 31, 2018 interim financial statements and Management's Discussion and Analysis, please see the Company website or on SEDAR.

SABINA GOLD & SILVER CORP

Sabina Gold & Silver Corp. is well-financed with approximately $86 million 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.

We seek Safe Harbor.