Sabina Silver Corporation
TSX VENTURE : SBB

Sabina Silver Corporation

July 07, 2008 14:02 ET

Sabina Silver Announces Results of Winter Drill Program in Red Lake, Ontario

Golden Sidewalk intersects high-grade gold Skinner Results Encouraging

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2008) - Sabina Silver Corp. (TSX VENTURE:SBB) Announces results of the winter drilling program for its Golden Sidewalk and Skinner properties in the Red Lake district of Ontario.

The central ground package comprising the Golden Sidewalk and Skinner Properties covers 3,649 hectares of favorable geology including Balmer Assemblage volcanic rocks. Balmer Assemblage rocks are host to the large gold mines in the Red Lake area including the Red Lake Mine Complex (Goldcorp Inc.).

Drilling intercepts reported at both the Golden Sidewalk and Skinner properties are encouraging for Sabina Silver as the company looks to continue building upon its success in the Red Lake Mining District. Sabina Silver and its personnel are experienced explorers of the Red Lake area and were recipients of the Bernie Schnieders Discovery of the year award in 2005 for the Bonanza-Follansbee deposit now operated by Goldcorp Inc.

GOLDEN SIDEWALK

Drilling at Sabina's 100% owned Golden Sidewalk Property, within the Red Lake Mining Division, has successfully intersected gold mineralization in the primary target "Bathurst Mine Horizon" and also discovered a second horizon with high-grade gold mineralization, including 45.96 g/t Au (1.34 opt) over 1.70 meters. Recent diamond drilling of the "Bathurst Mine Horizon" and the new "Upper Bathurst Mine Horizon" confirms the presence of multiple gold bearing structures with further potential along strike and at depth.

The Golden Sidewalk Property, hosting the past-producing Bathurst Mine, is located within the Birch-Uchi greenstone belt approximately 70 km (44 miles) east of Red Lake. The land held by Sabina Silver covers over a highly prospective geologic setting similar to that of the producing Red Lake Mine Complex (Goldcorp Inc.). Highlights from initial drilling, 7863 meters in 23 holes, of the target horizons are presented in Table 1.

Table 1. Highlights of Bathurst Mine Horizon (BMH), Upper Bathurst Mine Horizon (UBMH) and Related Quartz Veining (QV)



----------------------------------------------------------------
True
Interval Width
Hole From (m) To (m) (m) Au (g/t) Zone Factor
----------------------------------------------------------------
SGS-07-32 129.75 130.45 0.70 2.30 QV 0.69
----------------------------------------------------------------
148.80 149.15 0.35 1.22 BMH 0.56
----------------------------------------------------------------
SGS-07-35 150.30 151.40 1.10 1.30 UBMH 0.58
----------------------------------------------------------------
SGS-07-36 172.85 173.70 0.85 1.16 UBMH 0.54
----------------------------------------------------------------
SGS-07-39 44.45 44.80 0.35 10.03 QV Unknown
----------------------------------------------------------------
SGS-07-41 47.90 48.80 0.90 1.01 QV 0.63
----------------------------------------------------------------
SGS-07-41 206.60 206.90 0.30 55.04 BMH 0.61
----------------------------------------------------------------
SGS-08-45 264.65 266.35 1.70 45.96 UBMH 0.55
----------------------------------------------------------------
SGS-08-50 241.40 241.70 0.30 1.62 QV 0.90
----------------------------------------------------------------
SGS-08-52 230.60 231.40 0.80 1.07 QV 0.60
----------------------------------------------------------------
Entire drill results can be found on the table attached to this
news release.


Compilation of data relating to the drill program is ongoing with recommendations for follow-up pending.

SKINNER PROPERTY

Drilling on Sabina Silver's 100% owned Skinner Property, immediately south of the Golden Sidewalk property, intersected a gold mineralized structure along the edge of an ultramafic unit. The newly discovered ultramafic unit is located under an arm of Narrow Lake. At present, only two holes have tested the mineralized structure, both returning anomalous gold values, including 1.28 g/t over 0.30 meters. These holes were successful in delineating an east-west trending unit (the "Blind Zone") with gold mineralization occurring where it is in contact with a gabbro sill. Sabina personnel are excited over the newly discovered "Blind Zone" mineralization. Follow-up recommendations are currently being prepared.

Intercepts and assay values from the diamond drill holes are outlined in Table 2.

Table 2. Assay Results of the Skinner Property "Blind Zone"



----------------------------------------------------------------
True
Interval Width
Hole From (m) To (m) (m) Au (PPB) Factor
----------------------------------------------------------------
SK-08-02 22.10 23.10 1.00 170 0.72
----------------------------------------------------------------
23.10 24.10 1.00 270 0.72
----------------------------------------------------------------
24.10 25.10 1.00 41 0.72
----------------------------------------------------------------
25.10 26.10 1.00 6 0.72
----------------------------------------------------------------
26.10 27.10 1.00 463 0.72
----------------------------------------------------------------
27.10 27.40 0.30 1279 0.72
----------------------------------------------------------------
27.40 28.15 0.75 27 0.72
----------------------------------------------------------------
28.15 29.15 1.00 413 0.72
----------------------------------------------------------------
29.15 29.85 0.70 139 0.72
----------------------------------------------------------------
29.85 30.85 1.00 548 0.72
----------------------------------------------------------------
SK-08-03 22.20 23.00 0.80 118 0.82
----------------------------------------------------------------


Quality Assurance

This press release has been prepared under the supervision of David S. Hunt, P. Geo., a Qualified Person under the meaning of National Instrument 43-101. Diamond drill core was sent to Accurassay Laboratories of Thunder Bay, Ontario for preparation and analysis using fire assay. Quality control was monitored using a system of standards, blanks and duplicates.

SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc project in Nunavut, the Del Norte project in the Stewart-Eskay Creek Mining District and several projects in the Red Lake gold camp.

Forward Looking Statements

Statements relating to exploration work at the Golden Sidewalk and Skinner projects 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, 2007.

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, should change.

This news release has been authorized by the undersigned on behalf of Sabina Silver Corporation.

Tony Walsh, President & CEO



----------------------------------------------------------------
True
Interval Width
Hole From (m) To (m) (m) Au (g/t) Zone Factor
----------------------------------------------------------------
SGS-07-30 No significant values
----------------------------------------------------------------
SGS-07-31 No significant values
----------------------------------------------------------------
SGS-07-32 129.75 130.45 0.70 2.30 QV 0.69
----------------------------------------------------------------
148.80 149.15 0.35 1.22 BMH 0.56
----------------------------------------------------------------
SGS-07-33 No significant values
----------------------------------------------------------------
SGS-07-34 No significant values
----------------------------------------------------------------
SGS-07-35 150.30 151.40 1.10 1.30 UBMH 0.58
----------------------------------------------------------------
SGS-07-36 172.85 173.70 0.85 1.16 UBMH 0.54
----------------------------------------------------------------
SGS-07-37 No significant values
----------------------------------------------------------------
SGS-07-38 No significant values
----------------------------------------------------------------
SGS-07-39 44.45 44.80 0.35 10.03 QV Unknown
----------------------------------------------------------------
SGS-07-40 No significant values
----------------------------------------------------------------
SGS-07-41 47.90 48.80 0.90 1.01 QV 0.63
----------------------------------------------------------------
SGS-07-41 206.60 206.90 0.30 55.04 BMH 0.61
----------------------------------------------------------------
SGS-07-42 No significant values
----------------------------------------------------------------
SGS-07-43 No significant values
----------------------------------------------------------------
SGS-07-44 No significant values
----------------------------------------------------------------
SGS-08-45 264.65 266.35 1.70 45.96 UBMH 0.55
----------------------------------------------------------------
SGS-08-46 No significant values
----------------------------------------------------------------
SGS-08-47 No significant values
----------------------------------------------------------------
SGS-08-48 No significant values
----------------------------------------------------------------
SGS-08-49 No significant values
----------------------------------------------------------------
SGS-08-50 241.40 241.70 0.30 1.62 QV 0.90
----------------------------------------------------------------
SGS-08-51 No significant values
----------------------------------------------------------------
SGS-08-52 230.60 231.40 0.80 1.07 QV 0.60
----------------------------------------------------------------


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