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Sabina Announces More Positive Drill Results from 2012 Drilling at the Back River Gold Project, Nunavut

Date : 06/04/2012 @ 12:24PM
Source : Marketwired
Stock : Sabina Gold And Silver Corp (SBB)
Quote : 0.75  0.0 (0.00%) @ 4:00AM
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Sabina Announces More Positive Drill Results from 2012 Drilling at the Back River Gold Project, Nunavut

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2 Years : From Apr 2012 to Apr 2014

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Sabina Gold & Silver Corp. (TSX:SBB) is pleased to announce new assay results from holes drilled on the Goose claim block as part of the 2012 exploration program at its 100% owned Back River Gold Project in Nunavut, Canada.

Initial work on the Goose property in 2012 has focussed on infill and extension drilling at the Llama and Umwelt deposits, as well as high priority regional new discovery targets proximal to the existing deposits.

Infill drilling within the Llama pit shell has been particularly successful. Hole 12GSE182 returned 21.76 g/t Au over 11.70 m including 51.52 g/t Au over 4.50 m. This intercept begins at a down hole depth of only 15.80 m and confirms the presence of a high grade mineralized core in the Llama pit. These results, in addition to the Llama results announced on April 26, 2012, should provide strong grade early in the mine plan as envisaged in the recently completed Preliminary Economic Assessment ("PEA").

Drilling at Llama has also targeted the extension of the deposit down plunge. Hole 12GSE180 returned 8.40 g/t Au over 10.90 m including 12.33 g/t Au over 5.55 m and hole 12GSE168 at the fold crest between the East and West Limbs intersected 6.73 g/t Au over 9.25 m. These holes continue to identify a continuous zone of mineralization down plunge of the open pit resource and are in an area that has not yet been included in any resource calculation.

Positive first results from extension drilling at the G2 Zone at Umwelt have also been received. Hole 12GSE173 returned 9.50 g/t Au over 7.15 m and extends the mineralization 200 m down plunge from the previous known limits of the deposit. Deep drilling continues at Umwelt with further assays pending.

"We are very happy with the results coming in from this year's program to date," said Rob Pease, President & CEO. "In particular, the results reported from Llama demonstrate one of the opportunities for this year's drilling to optimize the mine plan in our recently announced PEA. The Llama deposit is envisioned to be one of first areas mined in the PEA due to its near surface high-grade attributes; therefore, we expect there will be a positive impact on the economics. Our property wide exploration continues to discover significant new mineralization and the high-grade continuous nature of our deposits demonstrate the unique character and strength of the future Back River project."

On May 29th, the Company announced a positive PEA on the Back River Gold Project. According to the PEA, the base case scenario for the project generates a post-tax NPV of $650 million and an IRR of 25% at a $1250 gold price. The mine plan would feed 5,000 tonnes per day of mineralized material to the mill to produce approximately 300,000 ounces of gold per year for 12.3 years. Mine sequencing envisions initial production from a Llama open pit and the Umwelt and Goose underground resources for up front capital of approximately $450 million. Thereafter, open pits at Umwelt and Goose followed by underground mining at George will come on line over the rest of the life of the mine with mine development capital being funded from cash flow. Total capital for the project has been estimated at $838 million. Total cash costs are anticipated to be $542/oz life of mine including royalties, refining and transport. Capital and operating costs were estimated using a combination of first principle calculations, experience and factored costs; experience includes actual results from comparable northern projects.

Back River Exploration

There are currently 5 drills operating at the Goose property based out of the Goose camp. One drill is working on the down plunge extension of the Llama deposit, one drill is beginning Umwelt resource conversion drilling, two drills are exploring the down dip and down plunge extension of the Umwelt G2 Zone, and one drill is conducting property wide exploration. There are three drills operating out of the George camp with one drill assigned to regional Wishbone drilling and two drills focused on new targets at George.

Llama Resource Conversion Drilling

Drilling began at the Llama deposit in early March and was initially focussed on lake-based targets situated on the East and West limbs of the deposit. Drilling targeted the core of the current open pit concept and was designed to upgrade resources from the inferred category to the indicated category. This program is now complete and drilling has moved to the south in an effort to expand the deposit down plunge.

Additional results from the resource upgrade program have been returned and include hole 12GSE182 located at the north end of the Llama deposit which intersected high grade mineralization associated with the thickened fold hinge of the iron formation. Results from the hole included 21.76 g/t Au over 11.70 m including 51.52 g/t Au over 4.50 m. This intercept begins at a down-hole depth of only 15.80 m and confirms the presence of a high grade mineralized core at Llama that should provide strong grade early in the mine plan as envisaged in the recently completed PEA study.

Other significant intercepts from the Llama in-fill program include hole 12GSE171 also at the north end of the deposit which returned 24.96 g/t Au over 6.60 m at a vertical depth of approximately 50 m.

Llama Resource Expansion Drilling

Efforts to expand the Llama deposit down plunge and to the south have also been successful. Hole 12GSE180 returned 8.40 g/t Au over 10.90 m including 12.33 g/t Au over 5.55 m in the West Limb at a vertical depth of approximately 280 m below surface and hole 12GSE168 at the fold crest between the East and West Limbs intersected 6.73 g/t Au over 9.25 m at a vertical depth of approximately 180 m. These intercepts occur below and to the south of the current resource as defined and used in the PEA and continue to identify a continuous zone of mineralization down plunge of the open pit resource.

Umwelt Resource Expansion Drilling

Other highlights from the drill program to-date include the first results from the down plunge drilling of the Umwelt G2 Zone. Hole 12GSE173 was designed to test 200 m down plunge of the known zone and to intersect the lower part of the limb that hosts the Umwelt deposit. This hole successfully intersected mineralization at the base of the lower Main Zone East limb returning 9.50 g/t Au over 7.15 m at a vertical depth of approximately 800 m below surface and some 200 m down dip of our previous intersection of the zone. The main portion of the deposit is believed to lie up dip of this intercept. A second hole targeting approximately 100 m above hole 12GSE173 is currently in progress.

Goose Property Exploration

A new discovery has been made at a target located immediately to the west of the Goose deposit termed the Goose Hook. The Goose Hook is interpreted to be an extension of the Goose deposit that has been folded sharply from a northeast - southwest orientation to a southwesterly orientation. Hole 12GSE178, following-up on encouraging results from earlier holes 12GSE133 (2.06 g/t Au over 2.70 m) and 12GSE138 (1.69 g/t Au over 25.00 m), intersected 3.65 g/t Au over 9.0 m within a broader mineralized zone grading 1.76 g/t Au over 41.90 m. A number of grains of visible gold were noted in the interval. This intercept is approximately 300 m west of the main Goose deposit and represents a significant zone of altered and mineralized oxide iron formation. Ongoing drilling should provide us with additional information necessary to better understand the geology of this new Goose Hook discovery.


Table 1: Significant assay results from this release:                       
                                                                            
----------------------------------------------------------------------------
Hole Id  Area  Sec- Easting Northing Depth    From     To Length    Au Zone
               tion                            (m)    (m)    (m) (g/t) Name
----------------------------------------------------------------------------
12GSE168   LL 4775L  429142  7272125 351.0  246.90 247.70   0.80  1.22 Main
                                                                       West
----------------------------------------------------------------------------
                                            260.25 269.50   9.25  6.73 Main
                                                                       West
----------------------------------------------------------------------------
including                                   261.00 264.60   3.60  9.19 Main
                                                                       West
----------------------------------------------------------------------------
12GSE171   LL 5100L  428762  7272282 122.0   52.10  58.70   6.60 24.96 Unde-
                                                                       fined
----------------------------------------------------------------------------
                                             61.30  62.15   0.85  2.11 Unde-
                                                                       fined
----------------------------------------------------------------------------
                                             63.00  64.05   1.05  2.04 Unde-
                                                                       fined
----------------------------------------------------------------------------
                                             85.00  91.35   6.35  1.29 Main
                                                                       East
----------------------------------------------------------------------------
including                                    89.00  91.35   2.35  2.11 Main
                                                                       East
----------------------------------------------------------------------------
12GSE173   UM 3900U  430883  7270497 902.0  855.00 862.15   7.15  9.50 Main
                                                                       East
----------------------------------------------------------------------------
including                                   857.00 859.00   2.00 26.94 Main
                                                                       East
----------------------------------------------------------------------------
12GSE178 Hook 6420H  433598  7269478 704.0 Results                         
                                           Pending                         
----------------------------------------------------------------------------
                                            366.10 408.00  41.90  1.76 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                   369.00 378.00   9.00  3.65 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                   371.00 373.00   2.00  8.01 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                   384.50 385.40   0.90  5.44 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                   392.00 394.00   2.00  2.60 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                   406.00 408.00   2.00  7.05 Goose
                                                                       Hook
----------------------------------------------------------------------------
                                           Results                         
                                           Pending                         
----------------------------------------------------------------------------
12GSE180   LL 4700L  428745  7271810 431.0 Results                         
                                           Pending                         
----------------------------------------------------------------------------
                                            389.00 399.90  10.90  8.40 Main
                                                                       West
----------------------------------------------------------------------------
including                                   391.45 394.00   2.55 19.75 Main
                                                                       West
----------------------------------------------------------------------------
including                                   396.00 399.90   3.90  9.39 Main
                                                                       West
----------------------------------------------------------------------------
                                            405.30 406.00   0.70  1.10 Main
                                                                       West
----------------------------------------------------------------------------
12GSE182   LL 5125L  428788  7272326  76.0   15.80  27.50  11.70 21.76 Main
                                                                       East
----------------------------------------------------------------------------
including                                    19.00  23.50   4.50 51.52 Main
                                                                       East
----------------------------------------------------------------------------
including                                    26.50  27.50   1.00  9.65 Main
                                                                       East
----------------------------------------------------------------------------
                                             30.00  31.00   1.00  1.94 Main
                                                                       East
----------------------------------------------------------------------------
                                             36.00  37.50   1.50  1.94 Main
                                                                       East
----------------------------------------------------------------------------
Abbreviations: LL = Llama; UM = Umwelt; Hook = Goose Hook             

Quality Assurance

The Qualified Person under NI 43-101 is Peter Manojlovic PGeo, Vice President Exploration for Sabina Gold & Silver Corp., who has approved this release.

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 2012 are the same as those used in earlier campaigns by Sabina Gold & Silver Corp. and have been deemed appropriate in the above noted 43-101 compliant resource reports.

SABINA GOLD & SILVER CORP.

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

Sabina's primary properties consist of the Back River Gold Project as well as the Wishbone Claims, a vastly prospective grass roots project all located in Nunavut. In late 2011 the Company has announced the completion of the sale of Hackett River and certain claims in the Wishbone greenstone belt to Xstrata Zinc Canada Division (Xstrata) for which the Company received $50 m cash and a silver royalty on Xstrata's Hackett River silver production of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.

The Company had cash of $147.4 million at March 31, 2012.

All news releases 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 mineral resource estimates at Llama, Umwelt, George and Goose and the expected impact of these mineral resources 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, 2011.

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 Gold & Silver Corp.

Rob Pease, President & CEO


Table 2: Complete assay results from 2012 drilling                         
                                                                           
----------------------------------------------------------------------------
Hole Id  Area    Sec-  East-  North- Depth   From     To Length     Au Zone
                 tion    ing     ing          (m)    (m)    (m)  (g/t) Name
----------------------------------------------------------------------------
12GSE132B GNS   3950J 431894 7269627 239.0 138.10 139.00   0.90   5.61 GNS
----------------------------------------------------------------------------
                                           147.50 148.50   1.00   6.50 GNS
---------------------------------------------------------------------------
                                           166.20 168.40   2.20   2.12 GNS
----------------------------------------------------------------------------
12GSE133 Hook 433700H 433692 7269572 584.0 344.65 345.50   0.85   1.37 Un-
                                                                       known
----------------------------------------------------------------------------
                                           373.10 375.80   2.70   2.06 LIF-
                                                                       North
----------------------------------------------------------------------------
                                           379.55 384.00   4.45   1.06 LIF-
                                                                       North
----------------------------------------------------------------------------
                                           424.00 424.50   0.50   1.66 LIF-
                                                                       North
----------------------------------------------------------------------------
                                           429.10 429.60   0.50   1.30 LIF-
                                                                       North
----------------------------------------------------------------------------
                                           431.05 434.90   3.85   1.62 LIF-
                                                                       North
----------------------------------------------------------------------------
                                           439.00 439.80   0.80  17.73 LIF-
                                                                       North
----------------------------------------------------------------------------
12GSE134  GNS   3950J 431892 7269628 285.5 212.00 227.50  15.50   0.88 GNS
----------------------------------------------------------------------------
12GSE135  GNS   4150J 431739 7269766 305.0    NSV                          
----------------------------------------------------------------------------
12GSE136   LL   4875L 429159 7272252 284.0 262.00 262.70   0.70   1.06 Main
                                                                       East
----------------------------------------------------------------------------
12GSE137   LL   5325L 428651 7272478  62.0    NSV                          
----------------------------------------------------------------------------
12GSE138 Hook 433700H 433690 7269581 540.7 314.70 339.70  25.00   1.69 LIF-
                                                                       South
----------------------------------------------------------------------------
including                                  327.70 330.70   3.00   3.16 LIF-
                                                                       South
----------------------------------------------------------------------------
including                                  336.70 338.00   1.30  11.97 LIF-
                                                                       South
----------------------------------------------------------------------------
                                           386.40 390.70   4.30   1.51 LIF-
                                                                       North
----------------------------------------------------------------------------
                                           400.70 401.70   1.00   1.34 LIF-
                                                                       North
----------------------------------------------------------------------------
12GSE139    LL  4925L 428967 7272198 143.0  81.40 100.65  19.25   5.01 Main
                                                                       West
----------------------------------------------------------------------------
including                                   98.90  99.85   0.95  51.10 Main
                                                                       West
----------------------------------------------------------------------------
                                           119.90 122.45   2.55   6.37 Main
                                                                       West
----------------------------------------------------------------------------
                                           131.35 131.90   0.55   1.46 Main
                                                                       West
----------------------------------------------------------------------------
12GSE140   LL   5325L 428611 7272455 152.0    NSV                          
----------------------------------------------------------------------------
12GSE141   LL   4975L 428947 7272245 293.0  69.80  70.80   1.00   1.92 Main
                                                                       East
----------------------------------------------------------------------------
                                            75.80  76.80   1.00   1.66 Main
                                                                       East
----------------------------------------------------------------------------
                                            81.15 117.55  36.40  15.16 Main
                                                                       East
----------------------------------------------------------------------------
including                                   86.70  94.85   8.15  20.09 Main
                                                                       East
----------------------------------------------------------------------------
and                                        101.00 109.20   8.20  41.37 Main
                                                                       East
----------------------------------------------------------------------------
including                                  106.70 107.50   0.80 154.30 Main
                                                                       East
----------------------------------------------------------------------------
                                           122.30 140.30  18.00   1.98 Main
                                                                       West
----------------------------------------------------------------------------
including                                  122.85 124.00   1.15  16.53 Main
                                                                       West
----------------------------------------------------------------------------
                                           168.45 209.50  41.05   7.15 Main
                                                                       West
----------------------------------------------------------------------------
including                                  176.25 199.50  23.25  10.87 Main
                                                                       West
----------------------------------------------------------------------------
and                                        206.30 209.50   3.20   3.07 Main
                                                                       West
----------------------------------------------------------------------------
                                           214.50 215.40   0.90   1.08 Main
                                                                       West
----------------------------------------------------------------------------
                                           218.05 219.05   1.00   3.02 Main
                                                                       West
----------------------------------------------------------------------------
12GSE142   LL   5275L 428635 7272411 128.0  99.90 100.60   0.70   1.41 Main
                                                                       East
----------------------------------------------------------------------------
12GSE143   LL   5275L 428673 7272433 137.0  27.95  28.60   0.65   1.20 Main
                                                                       East
----------------------------------------------------------------------------
                                            44.00  45.00   1.00   1.03 Main
                                                                       East
----------------------------------------------------------------------------
12GSE144   LL   5025L 428959 7272308 326.0 100.10 102.00   1.90   1.86 Main
                                                                       East
----------------------------------------------------------------------------
                                           106.65 107.45   0.80   1.34 Main
                                                                       East
----------------------------------------------------------------------------
                                           283.10 285.60   2.50   2.65 Main
                                                                       West
----------------------------------------------------------------------------
12GSE145   LL   5250L 428640 7272385 149.0    NSV                          
----------------------------------------------------------------------------
12GSE146   GM   4910G 434085 7269436 119.0    NSV                          
----------------------------------------------------------------------------
12GSE146B  GM   4910G 434086 7269436 338.0 126.00 129.00   3.00   2.35 LIF-
                                                                       South
----------------------------------------------------------------------------
                                           141.00 147.00   6.00   6.92 LIF-
                                                                       South
----------------------------------------------------------------------------
including                                  146.00 147.00   1.00  25.48 LIF-
                                                                       South
----------------------------------------------------------------------------
                                           158.13 160.87   2.74   6.13 LIF-
                                                                       South
----------------------------------------------------------------------------
including                                  160.00 160.87   0.87  17.52 LIF-
                                                                       South
----------------------------------------------------------------------------
                                           169.00 170.00   1.00   1.41 Gwky
----------------------------------------------------------------------------
                                           233.00 245.00  12.00   4.81 LIF-
                                                                       North
----------------------------------------------------------------------------
including                                  235.74 238.15   2.41  15.35 LIF-
                                                                       North
----------------------------------------------------------------------------
                                           264.00 278.00  14.00   2.07 LIF-
                                                                       North
----------------------------------------------------------------------------
12GSE147    LL  5250L 428682 7272409 107.0  55.30  56.75   1.45   5.01 Main
                                                                       East
----------------------------------------------------------------------------
                                            69.10  71.70   2.60   1.42 Main
                                                                       East
----------------------------------------------------------------------------
12GSE148    LL  4875L 429025 7272174 200.0 133.15 134.15   1.00   1.58 Main
                                                                       West
----------------------------------------------------------------------------
                                           137.15 139.25   2.10   8.37 Main
                                                                       West
----------------------------------------------------------------------------
                                           145.00 169.10  24.10   4.69 Main
                                                                       West
----------------------------------------------------------------------------
including                                  145.00 148.00   3.00  21.33 Main
                                                                       West
----------------------------------------------------------------------------
and                                        164.15 168.15   4.00   7.60 Main
                                                                       West
----------------------------------------------------------------------------
12GSE149   UM   4100U 430766 7270675 200.0 NSV -                           
                                            Hole                           
                                       Abandoned                      
----------------------------------------------------------------------------
12GSE150   LL   5225L 428670 7272373 156.5   NSV                          
----------------------------------------------------------------------------
12GSE151   LL   4975L 429002 7272276 146.0 132.70 134.45   1.75   2.17 Main
                                                                       East
----------------------------------------------------------------------------
12GSE152   LL   5225L 428670 7272373 137.0  78.00  98.00  20.00   8.58 Main
                                                                       East
----------------------------------------------------------------------------
including                                   84.90  87.90   3.00  24.38 Main
                                                                       East
----------------------------------------------------------------------------
and                                         93.00  95.00   2.00  24.87 Main
                                                                       East
----------------------------------------------------------------------------
12GSE153   LL   5025L 428795 7272214 149.0  64.10  77.00  12.90  21.58 Main
                                                                       West
----------------------------------------------------------------------------
                                            90.10  91.10   1.00   2.35 Main
                                                                       East
----------------------------------------------------------------------------
                                            98.00 111.00  13.00   2.66 Main
                                                                       East
----------------------------------------------------------------------------
including                                  107.00 109.15   2.15  10.00 Main
                                                                       East
----------------------------------------------------------------------------
12GSE154   UM   4100U 430579 7270522 482.0 348.96 349.48   0.52   1.42 Unde-
                                                                       fined
----------------------------------------------------------------------------
12GSE155   LL   4975L 428902 7272218 269.0  57.10  58.10   1.00   2.71 Main
                                                                       West
----------------------------------------------------------------------------
                                            93.20  97.70   4.50  22.54 Main
                                                                       West
----------------------------------------------------------------------------
12GSE156   LL   5075L 428770 7272258 140.0  95.80 105.00   9.20   2.95 Main
                                                                       East
----------------------------------------------------------------------------
12GSE157   GM   4730G 434300 7269401  77.0 NSV -                           
                                            Hole                           
                                       Abandoned                       
----------------------------------------------------------------------------
12GSE157B  GM   4730G 434299 7269399 254.0 121.11 122.00   0.89   1.11 LIF-
                                                                       South
----------------------------------------------------------------------------
                                           132.00 133.00   1.00   1.05 LIF-
                                                                       South
----------------------------------------------------------------------------
12GSE158   LL   5125L 428737 7272296 224.0  40.50  41.60   1.10   1.59 Main
                                                                       West
----------------------------------------------------------------------------
                                            55.00  56.00   1.00  14.80 Main
                                                                       West
----------------------------------------------------------------------------
                                            66.00  67.00   1.00   3.96 Main
                                                                       West
----------------------------------------------------------------------------
                                           121.00 125.00   4.00   1.97 Main
                                                                       East
----------------------------------------------------------------------------
                                           127.00 131.00   4.00   1.77 Main
                                                                       East
----------------------------------------------------------------------------
12GSE159B  LL   4750L 428870 7271940 248.0    NSV                          
----------------------------------------------------------------------------
12GSE160   UM   4200U 430647 7270708  80.0  NSV -                          
                                             Hole                          
                                        Abandoned                        
----------------------------------------------------------------------------
12GSE161   LL   5125L 428737 7272297 155.0 Results                        
                                           Pending                        
----------------------------------------------------------------------------
12GSE162   LL   4700L 428784 7271833 427.0  16.45  17.00   0.55   1.73 Fly-
                                                                       ing
                                                                       Wedge
----------------------------------------------------------------------------
                                            21.60  27.85   6.25   1.15 Fly-
                                                                       ing
                                                                       Wedge
----------------------------------------------------------------------------
                                            40.00  40.50   0.50   1.99 Fly-
                                                                       ing
                                                                       Wedge
----------------------------------------------------------------------------
                                           238.55 239.60   1.05   1.35 Unde-
                                                                       fined
----------------------------------------------------------------------------
                                           335.70 343.70   8.00  14.67 Main
                                                                       West
----------------------------------------------------------------------------
including                                  335.70 336.20   0.50 204.00 Main
                                                                       West
----------------------------------------------------------------------------
12GSE163   UM   4200U 430474 7270564 626.0 362.70 363.90   1.20   1.18 East
                                                                       BIF
----------------------------------------------------------------------------
                                           566.00 576.00  10.00   0.49 Main
                                                                       East
----------------------------------------------------------------------------
12GSE164   UM   4100U 430572 7270516 674.0 434.00 435.00   1.00   1.06 East
                                                                       BIF
----------------------------------------------------------------------------
                                           488.25 488.75   0.50   1.46 East
                                                                       BIF
----------------------------------------------------------------------------
                                           540.45 541.25   0.80   1.18 East
                                                                       BIF
----------------------------------------------------------------------------
                                           555.40 555.90   0.50   1.47 East
                                                                       BIF
----------------------------------------------------------------------------
                                           632.45 633.95   1.50   0.20 Main
                                                                       East
----------------------------------------------------------------------------
12GSE165   GM   4730G 434325 7269428 221.0 126.16 126.93   0.77   3.60 Gwky
----------------------------------------------------------------------------
                                           135.57 138.97   3.40   5.61 Gwky
----------------------------------------------------------------------------
                                          Results                  
                                          Pending                   
----------------------------------------------------------------------------
                                           208.26 211.00   2.74   1.07 Gwky
----------------------------------------------------------------------------
12GSE166   LL   5150L 428728 7272320 212.0  82.00  85.00   3.00   8.08 Main
                                                                       East
----------------------------------------------------------------------------
including                                   84.00  85.00   1.00  20.80 Main
                                                                       East
----------------------------------------------------------------------------
12GSE167   GM   4700G 434339 7269399 176.0 141.95 149.54   7.59   2.48 Unde-
                                                                       fined
----------------------------------------------------------------------------
12GSE168   LL   4775L 429142 7272125 351.0 246.90 247.70   0.80   1.22 Main
                                                                       West
----------------------------------------------------------------------------
                                           260.25 269.50   9.25   6.73 Main
                                                                       West
----------------------------------------------------------------------------
including                                  261.00 264.60   3.60   9.19 Main
                                                                       West
----------------------------------------------------------------------------
12GSE169   LL   5200L 428633 7272322 224.0 116.00 125.75   9.75   1.19 Main
                                                                       West
----------------------------------------------------------------------------
including                                  118.60 119.25   0.65  11.93 Main
                                                                       West
----------------------------------------------------------------------------
                                           151.45 152.75   1.30   1.63 Unde-
                                                                       fined
----------------------------------------------------------------------------
12GSE170   GB   4340G 434901 7269460 309.5    NSV                          
----------------------------------------------------------------------------
12GSE171   LL   5100L 428762 7272282 122.0  52.10  58.70   6.60  24.96 Unde-
                                                                       fined
----------------------------------------------------------------------------
                                            61.30  62.15   0.85   2.11 Unde-
                                                                       fined
----------------------------------------------------------------------------
                                            63.00  64.05   1.05   2.04 Unde-
                                                                       fined
----------------------------------------------------------------------------
                                            85.00  91.35   6.35   1.29 Main
                                                                       East
----------------------------------------------------------------------------
including                                   89.00  91.35   2.35   2.11 Main
                                                                       East
----------------------------------------------------------------------------
12GSE172   LL   4830L 429031 7272132  23.0  NSV -                           
                                             Hole                          
                                        Abandoned                          
----------------------------------------------------------------------------
12GSE172B  LL   4830L 429031 7272132 197.0  82.00  82.55   0.55   2.62 Unde-
                                                                       fined
----------------------------------------------------------------------------
                                           133.95 134.45   0.50  10.70 Main
                                                                       West
----------------------------------------------------------------------------
12GSE173   UM   3900U 430883 7270497 902.0 855.00 862.15   7.15   9.50 Main
                                                                       East
----------------------------------------------------------------------------
including                                  857.00 859.00   2.00  26.94 Main
                                                                       East
----------------------------------------------------------------------------
12GSE173W1 UM   3900U 430883 7270497 402.0  NSV -                           
                                             Hole                           
                                        Abandoned                          
----------------------------------------------------------------------------
12GSE173W2 UM   3900U 430883 7270497 547.0 Results                          
                                           Pending                          
----------------------------------------------------------------------------
12GSE174   UM   3750U 430883 7270497 980.0 Results                          
                                           Pending                          
----------------------------------------------------------------------------
12GSE174W1 UM   3750U 430883 7270497 455.0  NSV -                          
                                             Hole                           
                                        Abandoned                          
----------------------------------------------------------------------------
12GSE175   LL   4925L 429013 7272225   0.0  NSV -                           
                                             Hole                           
                                        Abandoned                          
----------------------------------------------------------------------------
12GSE175B  LL   4925L 429011 7272224 338.0 131.00 137.20   6.20   3.75 Main
                                                                       East
----------------------------------------------------------------------------
including                                  133.00 137.20   4.20   5.19 Main
                                                                       East
----------------------------------------------------------------------------
                                           140.20 141.70   1.50   1.66 Main
                                                                       East
----------------------------------------------------------------------------
                                           261.64 261.95   0.31   1.13 Main
                                                                       West
----------------------------------------------------------------------------
12GSE176   LL   5300L 428635 7272440 122.0    NSV                      Main
                                                                       East
----------------------------------------------------------------------------
12GSE177   LL   5150L 428718 7272314  23.0  20.50  23.00   2.50  16.17 Main
                                                                       West
----------------------------------------------------------------------------
12GSE177B  LL   5150L 428717 7272314 140.0  29.00  32.30   3.30   3.55 Main
                                                                       West
----------------------------------------------------------------------------
including                                   29.00  29.60   0.60  11.52 Main
                                                                       West
----------------------------------------------------------------------------
                                            36.60  37.20   0.60   2.50 Main
                                                                       West
----------------------------------------------------------------------------
                                            87.70 100.40  12.70   2.72 Main
                                                                       East
----------------------------------------------------------------------------
including                                   87.70  88.70   1.00  14.44 Main
                                                                       East
----------------------------------------------------------------------------
including                                   90.10  93.90   3.80   3.02 Main
                                                                       East
----------------------------------------------------------------------------
                                           110.20 116.30   6.10   1.95 Main
                                                                       East
----------------------------------------------------------------------------
including                                  113.90 115.75   1.85   3.47 Main
                                                                       East
----------------------------------------------------------------------------
                                           118.40 119.75   1.35   2.33 Main
                                                                       East
----------------------------------------------------------------------------
12GSE178 Hook   6420H 433598 7269478 704.0 Results                          
                                           Pending                          
----------------------------------------------------------------------------
                                           366.10 408.00  41.90   1.76 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                  369.00 378.00   9.00   3.65 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                  371.00 373.00   2.00   8.01 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                  384.50 385.40   0.90   5.44 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                  392.00 394.00   2.00   2.60 Goose
                                                                       Hook
----------------------------------------------------------------------------
including                                  406.00 408.00   2.00   7.05 Goose
                                                                       Hook
----------------------------------------------------------------------------
                                           Results                          
                                           Pending                          
----------------------------------------------------------------------------
12GSE179   LL   5200L 428684 7272353 170.0 Results                          
                                           Pending                          
----------------------------------------------------------------------------
                                            88.95  94.20   5.25   3.27 Main
                                                                       East
----------------------------------------------------------------------------
including                                   92.95  94.20   1.25   9.51 Main
                                                                       East
----------------------------------------------------------------------------
                                            97.65 100.70   3.05   2.87 Main
                                                                       East
----------------------------------------------------------------------------
12GSE180   LL   4700L 428745 7271810 431.0 Results                          
                                           Pending                          
----------------------------------------------------------------------------
                                           389.00 399.90  10.90   8.40 Main
                                                                       West
----------------------------------------------------------------------------
including                                  391.45 394.00   2.55  19.75 Main
                                                                       West
----------------------------------------------------------------------------
including                                  396.00 399.90   3.90   9.39 Main
                                                                       West
----------------------------------------------------------------------------
                                           405.30 406.00   0.70   1.10 Main
                                                                       West
----------------------------------------------------------------------------
12GSE181   LL   4975L 428647 7272058 104.0 Results                          
                                           Pending                          
----------------------------------------------------------------------------
12GSE182   LL   5125L 428788 7272326  76.0  15.80  27.50  11.70  21.76 Main
                                                                       East
----------------------------------------------------------------------------
including                                   19.00  23.50   4.50  51.52 Main
                                                                       East
----------------------------------------------------------------------------
including                                   26.50  27.50   1.00   9.65 Main
                                                                       East
----------------------------------------------------------------------------
                                            30.00  31.00   1.00   1.94 Main
                                                                       East
----------------------------------------------------------------------------
                                            36.00  37.50   1.50   1.94 Main
                                                                       East
----------------------------------------------------------------------------
Abbreviations: GNS = Goose Neck South; LL = Llama; GM = Goose Main; UM = 
Umwelt; GB = Goose Butt; Hook = Goose Hook; NSV = No Significant Values  

To view accompanying Figures 1 to 4, visit the following link: http://media3.marketwire.com/docs/Figures1to4_Sabina.pdf

Contacts: Sabina Gold & Silver Corp. Nicole Hoeller Vice-President, IR 1 888 648-4218nhoeller@sabinagoldsilver.com Sabina Gold & Silver Corp. Rob Pease President & CEO (604) 998-4175 or Toll Free: (888) 648-4218 www.sabinagoldsilver.com



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