SOURCE: Sabina Silver Corporation

November 28, 2007 10:33 ET

Sabina Silver and Silver Grail Drilling at Del Norte Extends High Grade Gold and Silver Mineralized Zone

THUNDER BAY, ON--(Marketwire - November 28, 2007) - Sabina Silver Corporation (TSX-V: SBB) is pleased to announce results from a nine hole, 1,600 meter diamond drilling program undertaken on the Del Norte property (Midas Claim Block) located approximately 34km east of Stewart, British Columbia. This drill program was undertaken to follow-up high grade gold and silver assay results from the "3 Oz Vein" drilled in 2006 which have been reported previously and which included 2.54g/t Au and 12.5 g/t Ag over 32.40m and 20.7g/t Au and 86.4g/t Ag over 1.45m in hole SDN-06-03, 0.97g/t Au and 4.1 g/t Ag over 44.79m in hole SDN-06-04, and 0.64g/t Au and 5.1 g/t Ag over 86.25 m in hole SDN-06-05.

Significant assay highlights encountered during this seasons drilling include 2,810 g/t Ag over 1.00m in hole SDN-07-03 and 6.75g/t Au over 0.90m, also in hole SDN-07-03. The 2007 drill program has now tested the main mineralized zone over a strike length of 150m. Mineralization is interpreted to be hosted within an anastomosing shear/vein structure that dips at approximately 65 degrees to the WSW. Anomalous gold assays are typically associated with quartz and arsenopyrite. Final results for the 2007 drilling are summarized in Table 1.

Holes were drilled this season on three section line spaced 50 meters apart. SDN-07-01, 02 and 03 were drilled from one drill pad set-up on section line 1004N, located 50 meters north of where the 2006 drill holes intersected encouraging mineralization, while SDN-07-04, 05, 06 and 07 were drilled from one drill pad set-up on section line 1002N, 50 meters south of the 2006 results and SDN-07-08 and 09 were drilled from one set-up on section line 1005N located 100m north of the 2006 drilling intersections. The holes were drilled to test the down dip extension as well as the strike extension of the previously encountered high grade intersections.

Table 2 lists the intervals with gold values greater than 0.5 g/t Au for holes drilled on Section line 1004N. True thickness of the mineralized intervals depends on the angle of intersection with the mineralized structure. Significant intercepts are listed in Tables 2, 3 and 4. The relationship between the known gold and silver-rich breccia type vein mineralization and the precious metal-enriched exhalative mineralization typifying the Eskay Creek deposit 70 kms to the northwest of Del Norte in the same geological trend remains an exploration priority for the company.

The 2007 exploration program at Del Norte was funded by Sabina according to terms of an option agreement with Teuton Resources Corp. (TUO.V) and Silver Grail (SGV.V) whereby Sabina can earn up to a 65% interest by spending $ 2.5 million on the property over four years and by completing a Feasibility Study on the Project within three years of completing the initial exploration stage. With the expenditure completed to date, Sabina has earned a 50% interest in the property.

Mr. Harvey Klatt, P.Geo., the Manager for the Del Norte Project, is the Qualified Person for Sabina Silver Corporation in charge of the 2007 Del Norte exploration. A system of standards, blanks and duplicates were inserted as part of the Company's QA/QC analytical procedures for the sample stream processed at accredited laboratories ALS Chemex (Vancouver, BC). Mr Klatt has reviewed the technical data and the content of this press release and approved its dissemination.

Sabina Silver Corporation is debt free, with approximately C$53 million working capital in cash and securities as at the end of October 2007. In addition to drilling at its Del Norte Silver-Gold project in the Stewart-Eskay Creek Mining District of British Columbia, the company is advancing the Hackett River Project in the Canadian Arctic through prefeasibility assessment and is also exploring four promising gold projects in the Red Lake Mining District, Ontario as well as exploring the silver-zinc Rockstone project in the Thunder Bay Mining District, Ontario.


President/CEO and Director

The foregoing securities have not been, nor are there any current plans to register said securities under the United States Securities Act of 1933, as amended, and these securities may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation or sale would be unlawful. Sabina Silver Corporation does have a Moody’s/Mergent Manual ("Blue Sky") exemption allowing distribution without registration in 39 states for secondary trading transactions only. Always consult a Registered Investment Advisor.

This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may," "will," "plan," "expect," "anticipate," "estimate," "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Sabina Silver Corporation does have an ongoing obligation to disclose material information, as it becomes available.

The TSX Venture Exchange does not accept responsibility for the accuracy or the adequacy of this release.

Table 1 Diamond Drill Hole Summary - Del Norte 2007

The following table can be found at this link

Table 2 Significant Intercepts from holes drilled on Section \ Line 1004N

The following table can be found at this link

Table 3 Significant Intercepts from holes drilled on Section Line 1002N

The following table can be found at this link

Table 4 Significant Intercepts from holes drilled on Section Line 1005N

The following table can be found at this link

Contact Information

  • For further information, please contact:
    Albert Brantley
    1004 Alloy Drive
    Thunder Bay, Ontario P7B 6A5
    Phone: 807-766-1799
    Fax: 807-343-0232

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    1004 Alloy Drive
    Thunder Bay, ON P7B 6A5
    Tel 807-766-1799
    Fax 807-343-0232
    Email - Email Contact
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