Sabina Silver Corporation

Sabina Silver Corporation

July 07, 2009 17:12 ET

Sabina Completes Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2009) -


Sabina Silver Corporation (TSX VENTURE:SBB) (the "Company") today announced completion of the previously announced non-brokered private placement financing.

The non-brokered private placement was comprised of 261,533 flow-through common shares at $1.20 per share for proceeds of $313,839.60 and 25,000 common shares at $1.00 for proceeds of $25,000.00 for total gross proceeds of $338,839.60.

All of the common shares issued pursuant to the non-brokered private placement are subject to a hold period expiring November 8, 2009. The gross proceeds from the flow through common shares must be used to incur Canadian exploration expenditures as defined by the Income Tax Act (Canada) by December 31, 2010.

SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc and the recently acquired Back River gold project and Wishbone claims in Nunavut along with several projects in the Red Lake gold camp. The Company is well capitalized with approximately $40 million in cash and marketable securities at March 31, 2009 (not including the proceeds raised in the brokered and non-brokered financings). The strategy to grow the company focuses on two mandates: 1) to continue to focus on enormous exploration and development potential of the Hackett River silver-zinc and Back River gold projects; and 2) maintain a strong balance sheet to acquire accretive precious metals assets.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements.

Forward Looking Statements

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 Silver Corporation.

Anthony P. Walsh, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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