Sabina Plans Back River Project Re-Opening - Seite 2

Approximately 6500 meters will test for the definition and expansion of a thickened, high grade corridor of mineralization within the Umwelt underground, initially at the Vault Zone and in the up-plunge direction towards the bottom of the proposed pit. Recent drilling and modeling show that the high-grade corridor extends through Vault, up and down plunge, with potential for significant optimization through additional drilling.

Additionally, flow through proceeds raised from this Offerning will be used to commence civil works for establishment of an exploration decline which will allow us to fully evaluate and further explore the high-grade Umwelt deposit. If this drilling is successful it could potentially provide for the earlier release of high-grade ores to the mine plan and positively impact the production profile and project economics.

Further, internal studies have been completed to evaluate the potential to add resources to the Project from new discoveries at Umwelt, Llama and Nuvuyak as well as include already defined resources at Goose main and Echo that are not currently included in the mine plan.  These internal studies could serve as the basis to plan infill drilling programs going forward.

Project Development Activities 

Commencing this Summer, the Company plans to undertake other pre-development works including extension of an airstrip to allow heavy lift aircraft, roads and pre-development of pads and lay down areas at the Goose site.  The Company also plans to complete detail engineering which when complete will be the basis for an updated capital cost estimate for the project.

Budgets and work plans for the remainder of 2020 and 2021 are currently underway and will be announced once completed.

The Securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.