Sabina Gold & Silver Updates Site Development and Exploration Activities at the Back River Gold Project - Seite 3

Exploration

The spring drilling program at Goose will total approximately 4000 m and will be carried out during April and May. Drilling will be focused on testing four to five early-stage exploration target areas and a four to five drillholes at the Hook zone (Figure 1 & 2). The early-stage exploration targets have been evolved through updated geological modeling with refined data interpretations derived from the study of historic drill core, recent field mapping and geophysics that includes input from a VTEM survey that was completed in 2020. The early-stage targets are predominantly of shallow to moderate depth and success at any of these targets could have the potential to impact current mine life economics. The Hook zone, which is located along the favorable gold structure that trends between the Goose Main and the Nuvuyak deposits, will be tested with a series of four to five drill holes. Drilling will focus on a 300 m section of the 700 m Hook zone where favourable geology and significant gold values show a strong potential for mineralization similar to that seen at Goose Main and Nuvuyak.

Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/11d3c960-a3e9-4848 ...

https://www.globenewswire.com/NewsRoom/AttachmentNg/eaed2c8e-c7f9-42d6 ...

A summer field work program is planned for the George site, which is located 50 km north of the Goose site. George currently has a mineral resource estimate of 1.2 M oz @ 5.34g/t Au in the Indicated category and an additional 1.1 M oz @ 6.12g/t Au in the Inferred category. Field work at George will consist of field mapping and rock sampling for evaluation and modeling of drill targets outside of the current George resource areas. This field campaign at George will be the first phase of a focused return to George exploration with the objective of demonstrating potential for additional discovery and resource growth towards definition of a stand-alone secondary development site for Sabina at Back River.

Qualified Persons

Mr. James Maxwell, P. Geo., and Director of Exploration for Sabina, is a Qualified Person pursuant to National Instrument 43-101 and has reviewed and approved of the technical content of this press release as it relates to the Back River Project.

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 Nunavut, Canada.