Sabina Gold & Silver Announces Interim Financial Results for the Quarter Ended March 31, 2020 - Seite 2

During the quarter, the Company mobilized for its 6,500 meter drill plan to target expansion and definition of the high grade corridor at the Umwelt underground with a focus on the up-plunge portion that extends from the current limits of the Vault zone towards the lower limits of the Umwelt open pit.  As a result of the COVID-19 pandemic, Sabina elected to defer the planned drilling at Goose until later in 2020 and safely shut down the site.
   

For the three months ended March 31, 2020, the Company reported a net loss of $0.8 million or $0.00 per share.

For the full March 31, 2020 interim financial statements and Management’s Discussion and Analysis, please see the Company website at www.sabinagoldsilver.com or on SEDAR.

SABINA GOLD & SILVER CORP

Sabina Gold & Silver Corp. is well-financed and is 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 Project received its final Project Certificate on December 19, 2017.   The Project received its Type A Water License on November 14, 2018 and is now in receipt of all major authorizations for construction and operations.

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.

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

For further information please contact:
Nicole Hoeller, Vice-President, Communications: 1 888 648-4218
[e-mail]

Bruce McLeod, President & CEO
1800-555 Burrard Street, Two Bentall Centre
Vancouver, BC V7X 1M9
Tel [phone]     Fax [phone] 
http://www.sabinagoldsilver.com