Sabina Gold & Silver Corp. renews Preliminary Base Shelf Prospectus

Not for distribution in the United States

VANCOUVER, British Columbia, April 29, 2020 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX), (“Sabina” or the “Company”) is pleased to announce that it has filed a renewal preliminary base shelf prospectus (the "Preliminary Base Shelf Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada. The renewal provides for continuity of the Base Shelf Prospectus filed by the Company on March 26, 2018.

After a receipt is issued for the final base shelf prospectus (the “Final Base Shelf Prospectus”), Sabina will be able to conduct offerings in the maximum aggregate amount of $500 million of any combination of common shares, debt securities, warrants, subscription receipts and units during the 25-month period that the Final Base Shelf Prospectus, including any amendments thereto, remains valid. The nature, size and timing of any such financings (if any) will depend, in part, on Sabina's assessment of its requirements for funding and general market conditions. Unless otherwise specified in the prospectus supplement relating to a particular offering of securities, the net proceeds from any sale of any securities will be used to advance Sabina’s business objectives and for general corporate purposes, including funding ongoing operations and/or working capital requirements, repaying indebtedness outstanding from time to time, discretionary capital programs and potential future acquisitions. The specific terms of any future offering will be set out in a prospectus supplement to the Final Base Shelf Prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities.

A copy of the Preliminary Base Shelf Prospectus is available on SEDAR (www.sedar.com) and also may be obtained by contacting the Vice-President, Communications & Corporate Secretary of the Company at Suite 1800 – Two Bentall Centre, 555 Burrard Street, Vancouver, British Columbia, Canada, V7X 1M7, telephone [phone].

The common shares, debt securities, warrants, subscription receipts and units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.