Sabina Gold & Silver Announces Appointment of Mr. Leo Zhao to Board of Directors
February 09 2018 - 2:30PM
Sabina Gold & Silver Corp (TSX:SBB.T), (“Sabina” or the
“Company”) is pleased to announce the appointment of Mr. Leo Zhao
to the Company’s Board of Directors. Mr. Zhao joins the Board
as Zhaojin International Mining Co.’s nominee in relation to
their investment in the Company.
“We are pleased to welcome Mr. Zhao to the Board
of Directors,” said Bruce McLeod, President & CEO. “Mr. Zhao
brings significant experience to the Board as we advance Back River
towards production. We are very pleased with our
new shareholder, Zhaojin and with Mr. Zhao and look forward to his
contributions both technical and as a Director as we begin an
exciting year for the Company.”
Mr. Zhao has more than 17 years of experience in
global mining investment and EPC project management in China,
Canada, Australia, Kazakhstan, Vietnam, Indonesia and the Middle
East. He is currently the Managing Director of Zhaojin
International Mining Co., Ltd, wholly owned by Zhaojin Mining
Industry Co., the fourth largest gold mining company listed on Hong
Kong Stock Exchange. He is also the executive director for
Zhaojin-Gravitas Mining Funds which was established in Canada.
Prior to joining Zhaojin, he served as a Project Manager for the
China National Nonferrous Industry Foreign Engineering &
Construction Company (NFC) working in various countries and was
nominated as alternate director in Terramin Australia Ltd from 2010
to 2014. Mr. Zhao received his Bachelor Degree in International
Project Management from Tianjin University in 2000 and MBA diploma
in Tsinghua University, China, in 2007. He holds a PMP certificate
issued by PMI.
Sabina Gold & Silver Corp.
Sabina Gold & Silver Corp. is well-financed
with approximately C$94million in cash and equivalents, post
financing and an emerging precious metals company with district
scale, advanced, high grade gold assets in one of the world’s
newest, politically stable mining jurisdictions: Nunavut,
Canada.
Sabina released a Feasibility Study on its 100%
owned Back River Gold Project which presents a project that has
been designed on a fit-for purpose basis, with the potential to
produce ~200,000 ounces a year for ~11 years with a rapid payback
of 2.9 years (see “Technical Report for the Initial Project
Feasibility Study on the Back River Gold Property, Nunavut, Canada”
dated October 28, 2015) (the “Study”). At a US$1,150 gold
price and a 0.80 (US$:C$) exchange rate, the Study delivers a
potential after tax internal rate of return of approximately 24.2%
with an initial CAPEX of $415 million.
The Project received its final Project
Certificate on December 19, 2017. The Project is now in the
final regulatory and licensing phase.
In addition to Back River, Sabina also owns a
significant silver royalty on Glencore’s Hackett River
Project. The silver royalty on Hackett River’s silver
production is comprised of 22.5% of the first 190 million ounces
produced and 12.5% of all silver produced thereafter.
For further information please contact:
Nicole Hoeller, Vice-President,
Communications: 1 888 648-4218
nhoeller@sabinagoldsilver.com
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. All technical reports have been filed on
www.sedar.com
This news release has been authorized by the
undersigned on behalf of Sabina Gold & Silver Corp.
Bruce McLeod, President & CEO1800-555 Burrard
Street, Two Bentall CentreVancouver, BC V7X 1M7Tel 604
998-4175 Fax 604
998-1051http://www.sabinagoldsilver.com
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