Sabina Gold & Silver Corp.
TSX : SBB

Sabina Gold & Silver Corp.

October 22, 2013 08:39 ET

Sabina Announces Continued Positive Results from the Umwelt Deposit at Back River

Umwelt Hole 13GSE377 returns 21.96 g/t Au over 19.72 m and hole 13GSE386 returns 17.30 g/t Au over 25.60 m

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 22, 2013) - Sabina Gold & Silver Corp. (TSX:SBB) ("Sabina" or the "Company") is pleased to announce more positive drilling results at the Umwelt deposit on the Goose property at its 100% owned Back River project in Nunavut, Canada.

"We are consistently pleased with the drill results we've received from our infill drilling at Umwelt." said Rob Pease President & CEO "Results continue to demonstrate the high-grade nature of the deposit as well as improve overall confidence as we work to upgrade resources to the measured category. This year's drilling will be included in updated remodelling and resource estimates of the deposits expected to be completed early in 2014. Although our 2013 field program is completed and our camps in Nunavut are now closed, we expect results and news from our 2013 drilling to continue until the end of the year."

Umwelt Conversion Drilling Program

The Umwelt deposit is currently the largest of the Back River mineral resources and is believed to have significant potential for additional resources to depth. As described in the Back River Pre-feasibility study announced on October 9, 2013, Umwelt is sequenced to be the first open pit and the first underground deposit mined. Existing indicated mineral resources at Umwelt continue down plunge 1350 m to a depth greater than 600 m below surface.

In addition, inferred resources continue a further 250 m down plunge. There are also indications that the high grades typical of the G2 Zone mineralization at Umwelt (Hole 12GSE234 returning 10.31 g/t Au over 39.85 m reported on October 2, 2012) continue into the inferred block at depth.

Drilling on Umwelt in 2013 was focused on converting and upgrading resources in the proposed open pit over a strike of 300 m and to a depth of 305 m. Results from this drilling will be incorporated into the upcoming Feasibility Study ("FS").

Results have now been received for all 52 holes completed in the Umwelt infill drilling program.

The table below highlights some of the results received in 2013.

Section Hole# Length (m) Au (g/t)
4825N 13GSE372 16.16 20.02
13GSE374 33.55 12.69
13GSE377 19.72 21.96
4875N 13GSE363 17.90 11.87
13GSE366 49.40 4.29
4925N 13GSE367
13GSE365
13GSE380
30.25
45.20
15.00
5.69
4.99
20.59
4950N 13GSE376 28.05 11.30
4975N 13GSE386 25.60 17.30
13GSE389 22.55 8.94
5000N 13GSE393 24.25 8.93

True widths for the intercepts reported in this news release have not yet been determined.

Further Umwelt infill drilling assay results are attached to this news release.

Qualified Persons

The Qualified Person as defined by NI 43-101 as pertains to the Back River Project, is Angus Campbell, P.Geo, Vice-President, Exploration, for the Company.

Diamond drill core was sent to TSL Laboratories in Saskatoon, Sask. Quality control is monitored on a continual basis and utilizes a system of standards, blanks and duplicates to ensure analytical accuracy. The protocols and procedures used in 2013 are the same as those used in earlier campaigns by Sabina Gold & Silver Corp. and have been deemed appropriate in the Company's 43-101 compliant resource reports.

SABINA GOLD & SILVER CORP.

Sabina Gold & Silver Corp. is an emerging gold developer with district scale, world class assets in one of the world's newest, most politically stable mining jurisdictions: Nunavut, Canada.

Sabina's primary assets, all located in Nunavut, consist of: the Back River Gold Project, currently in the pre-feasibility and permitting phase; the Wishbone Claims, a vastly prospective grass roots project; and the Hackett River Silver Royalty, a silver production royalty on Xstrata Zinc's Hackett River project comprising 22.5% of the first 190 million ounces produced and 12.5% of all the silver produced thereafter. The Company is well funded and expects to end the year with approximately $60 million in cash.

All news releases and further information can be found on the Company's website at www.sabinagoldsilver.com or on SEDAR at www.sedar.com.

Forward Looking Statements

Statements relating to future operations at the Back River Project and the expected results of this work are forward-looking statements within the meaning of securities legislation of certain Provinces in Canada. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred from the interpretation of drilling results may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Sabina's operations and other risks and uncertainties, including those described in Sabina's Annual Report for the year ended December 31, 2012.

Forward-looking statements are based on the beliefs, estimates and opinions of Sabina's management on the date the statements are made. Sabina undertakes no obligation to update these forward-looking statements should management's beliefs, estimates or opinions, or other factors, change.

This news release has been authorized by the undersigned on behalf of Sabina Gold & Silver Corp

Rob Pease, President & CEO
930 West 1st Street, Suite 202
North Vancouver, BC V7P 3N4
Tel 604 998-4175 Fax 604 998-1051
http://www.sabinagoldsilver.com

To view the maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/905883_maps.pdf.

Umwelt infill results
Hole Id Area Section Length (m) Au (g/t) Zone Name
13GSE358 UM 4925U 0.80 3.72 Upper IF
4.85 3.17 Upper IF
including 0.65 18.09 Upper IF
23.20 1.67 Main Zone East
including 0.75 5.49 Main Zone East
and 0.50 11.16 Main Zone East
0.90 1.05 Main Zone East
0.60 6.60 Undefined
20.15 4.60 Main Zone West
including 0.80 70.30 Main Zone West
13GSE359 UM 5125U 1.00 2.59 Main Zone Centre
4.25 19.60 Main Zone Centre
including 1.40 53.71 Main Zone Centre
13GSE361 UM 5125U 2.90 9.81 Main Zone Centre
1.00 4.20 Undefined
1.00 1.06 Undefined
13GSE362 UM 4925U 0.85 3.12 Upper IF
7.55 5.43 Main Zone East
including 2.65 13.83 Main Zone East
13GSE363 UM 4875U 1.05 4.73 Upper IF
0.55 1.85 Upper IF
1.00 1.34 Main Zone Centre
0.80 3.77 Main Zone Centre
1.05 7.00 Main Zone Centre
1.90 1.95 Main Zone Centre
17.90 11.87 Main Zone Centre
including 0.50 88.17 Main Zone Centre
and 0.95 68.43 Main Zone Centre
13GSE365 UM 4925U 0.60 3.07 Undefined
2.10 5.39 Upper IF
45.20 4.99 Main Zone Centre
including 1.75 12.79 Main Zone Centre
and 0.70 17.61 Main Zone Centre
and 0.90 44.36 Main Zone Centre
1.00 1.23 Main Zone Centre
6.30 5.07 Main Zone West
including 0.90 17.61 Main Zone West
13GSE366 UM 4875U 0.60 2.35 Undefined
49.40 4.29 Main Zone Centre
including 0.65 25.72 Main Zone Centre
and 1.50 34.07 Main Zone Centre
and 1.00 12.90 Main Zone Centre
and 5.80 8.14 Main Zone Centre
and 0.95 18.06 Main Zone Centre
and 0.80 13.01 Main Zone West
2.00 1.94 Main Zone West
4.00 3.01 Main Zone West
13GSE367 UM 4925U 4.40 3.22 Upper IF
including 1.10 7.80 Upper IF
1.20 1.53 Main Zone Centre
2.15 6.25 Main Zone Centre
0.50 4.46 Main Zone Centre
30.25 5.69 Main Zone Centre
including 3.05 24.63 Main Zone Centre
and 1.10 25.43 Main Zone Centre
13GSE369 UM 4825U 9.10 1.27 Main Zone East
3.90 3.20 Main Zone East
1.50 1.59 Main Zone East
1.25 14.71 West Limb
1.05 1.49 West Limb
1.50 1.06 Camp
1.50 12.96 Camp
13GSE371 UM 4950U 5.65 2.31 Main Zone East
including 0.90 6.72 Main Zone East
2.05 1.99 West Limb
13GSE372 UM 4825U 0.70 2.79 Upper IF
1.00 1.95 Upper IF
5.00 2.29 Main Zone East
16.15 20.02 Main Zone East
including 1.10 52.16 Main Zone East
and 0.65 99.37 Main Zone East
2.35 4.36 Central GW
0.75 1.73 Central GW
1.00 1.58 West Limb
13GSE374 UM 4825U 1.50 1.65 Upper IF
1.00 5.35 Main Zone Centre
0.90 2.13 Main Zone Centre
2.75 2.66 Main Zone Centre
33.55 12.69 Main Zone Centre
including 1.90 23.73 Main Zone Centre
and 1.85 30.53 Main Zone Centre
and 1.35 65.17 Main Zone Centre
and 1.05 26.20 Main Zone Centre
and 3.60 33.52 Main Zone Centre
1.00 1.49 Central GW
1.00 1.34 Central GW
10.00 8.35 Main Zone West
including 1.00 36.52 Main Zone West
13GSE376 UM 4950U 1.35 4.36 Upper IF
1.00 1.58 Upper IF
2.80 4.52 Upper IF
1.00 1.05 Main Zone Centre
28.05 11.30 Main Zone Centre
including 1.10 25.72 Main Zone Centre
and 5.30 27.36 Main Zone Centre
and 2.70 30.67 Main Zone Centre
0.95 9.65 West Limb
0.90 1.70 West Limb
8.70 4.01 West Limb
13GSE377 UM 4825U 1.30 17.49 Upper IF
1.00 1.39 Upper IF
0.78 2.06 Main Zone Centre
0.83 3.38 Main Zone Centre
2.25 2.08 Main Zone Centre
19.72 21.96 Main Zone Centre
including 1.25 73.94 Main Zone Centre
and 1.00 36.87 Main Zone Centre
and 4.25 39.16 Main Zone Centre
1.20 1.32 Central GW
13GSE379 UM 4950U 9.90 4.89 Upper IF
including 0.75 10.44 Upper IF
and 1.15 10.75 Upper IF
and 2.20 11.35 Upper IF
0.70 3.28 Main Zone Centre
1.20 1.47 Upper IF
2.40 4.92 Upper IF
0.50 1.54 Upper IF
2.45 8.80 Upper IF
including 0.65 25.00 Upper IF
13GSE380 UM 4925U 15.00 20.59 Main Zone Centre
including 4.40 37.72 Main Zone Centre
and 2.00 49.36 Main Zone Centre
13GSE381 UM 4975U 1.00 1.01 Main Zone East
1.90 1.27 Main Zone East
0.80 1.39 Main Zone East
0.55 1.54 Main Zone East
0.55 3.16 Central GW
13GSE383 UM 4975U 10.64 3.20 Main Zone Centre
13GSE384 UM 4975U 0.95 4.85 Upper IF
0.80 2.81 Upper IF
3.65 5.29 Main Zone East
including 0.65 26.87 Main Zone East
0.70 1.18 Main Zone East
0.55 1.13 Main Zone East
1.40 1.08 Main Zone East
13GSE386 UM 4975U 25.60 17.30 Main Zone East
including 7.30 34.25 Main Zone East
and 0.90 69.02 Main Zone East
1.50 19.62 Main Zone East
11.10 4.29 Main Zone West
including 1.35 23.34 Main Zone West
13GSE389 UM 4975U 6.10 9.98 Upper IF
including 2.85 19.94 Upper IF
5.95 7.17 Upper IF
including 1.90 14.40 Upper IF
22.55 8.94 Main Zone
including 7.10 18.45 Main Zone
1.00 2.54 Main Zone West
1.00 6.17 Main Zone West
13GSE391 UM 4975U 1.40 2.09 Upper IF
6.60 32.49 Main Zone Centre
including 0.85 142.60 Main Zone Centre
and 1.00 43.90 Main Zone Centre
and 0.75 24.25 Main Zone Centre
3.95 2.54 Main Zone Centre
2.55 5.93 Main Zone Centre
including 0.85 11.97 Main Zone Centre
24.40 3.40 Main Zone Centre
including 4.50 7.31 Main Zone Centre
13GSE393 UM 5000U 24.25 8.93 Main Zone Centre
including 4.75 23.12 Main Zone Centre
3.10 2.15 Main Zone West
0.95 1.49 Main Zone West
1.00 3.12 Undefined

True widths for the intercepts reported in this news release have not yet been determined.

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