VANCOUVER, British Columbia, Jan. 20, 2021 — Sabina Gold & Silver Corp. (SBB.T/SGSVF.OTCQX), (“Sabina” or the “Firm”) is happy to report an up to date Mineral Useful resource Estimate (the “2020 Mineral Useful resource Estimate”) at its 100%-owned Again River Gold Mission (“Again River” or the “Mission”) in Nunavut, Canada.

Assets for the Mission now whole 6.32M ounces (33,452,000 tonnes at 5.88 g/t) within the Measured and Indicated (“M&I”) classes and an extra 2.86M ounces (13,794,000 tonnes at 6.44 g/t) within the Inferred class. The 2020 Mineral Assets might be included into an Up to date Feasibility Research (“UFS”) for Again River due later this quarter.

For the reason that final Mineral Useful resource estimate in 2014, drilling has focussed on discovery and delineation of a number of new high-grade mineralized zones throughout the Goose Website. The Firm has succeeded in growing the useful resource estimate in all classes at an all-in price of lower than C$25 per ounce Au, additional demonstrating the tenor and power of gold mineralization at Again River.

Main milestones for the Goose Website reported on this replace embrace preliminary mineral useful resource estimates for the Nuvuyak and the Llama Extension Deposits including roughly 1,007,000 ounces Au to the Inferred class at a median grade of seven.52 g/t Au. As well as, an up to date Mineral Useful resource estimate on the Umwelt Deposit added roughly 885,000 ounces Au within the M&I class.

The Again River Mineral Useful resource Estimate, which incorporates each the Goose and George websites, has seen vital will increase because it was final revealed in 2014. General, 988,000 ounces have been added to the M&I estimate, a rise of 18.5%; and 1,005,000 ounces have been added to the Inferred estimate, a 54.3% improve.

“Since our acquisition of the Again River Mission in 2009, Sabina has delivered great development within the international useful resource for the venture together with an improved understanding of the geologic mannequin,” mentioned Bruce McLeod, President & CEO. “With over 565,000 meters of drilling accomplished, these deposits are effectively understood with nearly all of the assets within the M&I classes. Whereas the 2020 drilling season was restricted attributable to COVID-19 restrictions, I’m happy that we have been in a position to full inferred useful resource estimates on the brand new discoveries at Nuvuyak and Llama Extension. Traditionally, now we have seen a conversion fee of roughly 73% when upgrading Mineral Assets to Mineral Reserves, and we count on an analogous fee when changing these new discoveries into Mineral Reserves sooner or later. This up to date estimate offers the muse for our UFS and we anticipate a major improve on the Mineral Reserve estimate for the Goose Mission. The work accomplished in 2020, akin to delineating the V2 excessive grade underground zone has offered alternative and adaptability for the mine plan going ahead. We’re excited to include these high-grade zones, together with different scope modifications and up to date prices within the UFS to be introduced later this quarter. The affect of this new useful resource estimate, and particularly the high-grade zones at Umwelt underground on the upcoming reserve estimate, might lengthen mine life and produce us nearer to our goal of manufacturing 300,000 ounces of gold a 12 months.”

Comparability of the 2020 Mineral Useful resource Estimate with the 2014 estimate reveals:

• Measured tonnes decreased by 6% whereas grade and ounces elevated by 9% and three% respectively. That is primarily attributable to a rise within the open pit cut-off grade from 1.0 g/t to 1.4 g/t gold.
• Indicated tonnes elevated 32%, whereas grade decreased by 5%, and ounces elevated by 26%. The rise in Indicated tonnes and adjustment in grade largely displays an replace of the Umwelt modeling, together with new drilling outcomes at Vault and V2 zones, in addition to a discount within the underground cut-off grade to three.0 g/t.
• Inferred tonnes elevated by 78%, whereas grade decreased by 13%, with ounces growing by 54%. The numerous improve in Inferred is as a result of inclusion of the Llama Extension and Nuvuyak discoveries.

Mineral Useful resource Estimate – December 31, 2020

On the Goose Website, Mineral Useful resource estimates for the Llama, Llama Extension, Umwelt, Echo, Nuvuyak and Goose Principal deposits are reported. These are re-estimates for the Goose Principal and Echo deposits, first estimates of the Llama Extension and Nuvuyak deposits, and an up to date estimate for Umwelt incorporating new drilling of the high-grade zones at Vault and V2. With no new vital knowledge because the 2014 estimate, the Llama deposit has not been re-estimated.

The Mineral Assets for the George deposits have been up to date by reporting from new optimized pit shells for the LCP North, and LCP South, Locale 1, Locale 2, Slave and GH, deposits.

The efficient date of those estimates is December 31, 2020 and these estimates supersede the earlier estimates outlined within the JDS 2015 report (see press launch September 14, 2015).

The outcomes of the estimates are summarized in Desk 1 and expanded in Desk 2. Mineral Assets usually are not Mineral Reserves and as such don’t have demonstrated financial viability.  Up to date Mineral Reserves are forecasted to be launched throughout Q1 of 2021 within the Up to date Feasibility Research.

Desk 1: Abstract of Mineral Assets as of December 31, 2020

Supply: AMC, 2020. Notes: CIM Definition Requirements (2014) have been used for reporting the Mineral Assets. The Certified Individual is Dinara Nussipakynova, P.Geo. of AMC Mining Consultants (Canada) Ltd. Measured and Indicated Mineral Assets are inclusive of Mineral Reserves. Steel worth: US$1,550 /troy oz for gold Trade fee: 1.00 US$:1.31 C$. Course of Restoration: Goose deposits is 93% and for George deposits is 95%. Minimize-off grade: for Goose and George deposits, open pit is 1.4 g/t Au. Goose deposits underground is 3.0 g/t Au. George deposits underground is 3.5 g/t Au. Goose Mineral Assets deposits are Goose Principal, Umwelt, Echo, Llama, Llama Extension and Nuvuyak. George Mineral Assets deposits are LCP North, LCP South, Locale 1, Locale 2, GH, and Slave. Open pit Mineral Assets are constrained by an optimized pit shell utilizing gold worth and trade said above. The George underground Mineral Assets have been estimated inside mineral domains expanded to a minimal horizontal width of two m. Drilling outcomes for Goose Principal, Echo, Llama Extension and Nuvuyak are as much as November 15, 2020. Drilling outcomes for Umwelt are as much as October 16, 2020. Drilling outcomes for Llama and all George deposits are as much as December 31, 2013. The numbers could not add attributable to rounding.

Desk 2: Mineral Assets as of December 31, 2020 by Deposit

Supply: AMC, 2020 Notes: CIM Definition Requirements (2014) have been used for reporting the Mineral Assets. Check with the footnotes in Desk 1 for costs and cut-off grades utilized to every deposit.

Dialogue

This Mineral Useful resource estimate replace was initialized to include drilling on the Umwelt V2 and Vault zones, and to report the newly found Nuvuyak and Llama Extension deposits.

Mineralized domains and geology wireframes have been up to date for the Umwelt deposit and have been solely barely modified on the Goose Principal and Echo deposits to include outcomes from 5 drill holes accomplished because the October 2014 useful resource replace. Work on all different deposits was restricted to re-statement inside optimized open pit shells created utilizing up to date venture parameters akin to gold worth, trade fee, and metallurgical restoration.

Capping was employed the place required and diverse by deposit. Mineral Useful resource estimates for the brand new deposits, Llama Extension and Nuvuyak have been categorised as Inferred Mineral Assets, whereas knowledge density allowed for Indicated and Inferred Mineral Assets to be categorised in any respect different deposits. As well as Llama, Umwelt and Goose Principal deposits have ample knowledge density for Mineral Assets to be categorised as Measured.

Extra Useful resource Notes:

• Geological and mineralization 3D wireframes have been created by Sabina in Leapfrog Geo software program, and have been knowledgeable with diamond drilling intersected lithologies, alteration, sulphidation, gold assays and construction, in addition to floor mapping knowledge. Gold domains vary from two to 40 metres in true thickness and happen predominantly inside antiform fold hinges and limbs of oxide iron formation. The variety of gold domains throughout the property vary from two at Echo to 24 at Goose Principal, reflecting the rise in structural complexity on the deposits.
• Ten block fashions have been up to date and two block fashions have been created, all produced utilizing Datamine^TM Studio RM software program. Block sizes throughout the block fashions fluctuate by deposit ranging between two and ten metres in size, width and peak, and all fashions have been sub-blocked by geology and mineralization. All fashions besides the Echo deposit have been rotated to align to deposit particular mineralization.
• Estimation was carried out predominantly by Bizarre Kriging (OK), with smaller or much less populated gold domains by Inverse Distance Squared (ID²). On the George Website, 2D Accumulation was utilized on the Locale 1, Locale 2, GH and Slave deposits previous to estimation. All parameters for estimation have been knowledgeable by variography on composited intervals.

The 2020 Mineral Useful resource Estimate for the Again River Gold Mission considers 54,350 meters of latest drilling on the Goose Website in 117 holes, centered primarily on the Umwelt, Llama Extension and Nuvuyak deposits. Sabina has accomplished roughly 323,000 meters of drilling at Again River since acquisition in 2009, a portion of which included using oriented drill core. The venture is additional supported by roughly 245,000 meters of historic drill core for a complete drill core stock of roughly 568,000 meters.

Umwelt

The Umwelt deposit continues to be a key base for useful resource development on the Again River Gold Mission since its discovery in 2010. The Mineral Useful resource for Umwelt now totals 2,918,000 ounces (13,178,000 tonnes at 6.89 g/t) within the Measured and Indicated class and an extra 575,000 ounces (2,987,000 tonnes at 5.99 g/t) within the Inferred class. Sabina’s concentrate on structural research during the last three years has yielded sturdy exploration alternatives throughout the Goose Website and pushed constructive useful resource optimization and development on the Umwelt deposit. As a part of this centered method, drilling in recent times was dedicated to higher outline the continuity of higher-than-average-grade potential throughout the Umwelt underground over a plunge size that extends north from the Vault zone in direction of the boundaries of the Umwelt Open Pit. The high-grade Vault and V2 outcomes are included on this useful resource and might be included into future optimization of underground mine planning.

New Inferred Assets

The Nuvuyak and Llama Extension deposits are each current discoveries on the Again River Gold Mission and as such maiden useful resource estimates have been included within the useful resource replace. The establishing of those developments continues to signify vital upside in motivating the potential for additional new discoveries in addition to supporting the potential for future further underground mines on the venture. The 2020 exploration applications have been adjusted underneath an working framework for the COVID-19 restrictions that solely allowed ample drilling to ascertain inferred assets. The Firm envisions future drilling applications with a objective to increase and infill these new deposits.

Nuvuyak

The Nuvuyak gold deposit, found in 2018, totals 583,000 ounces (2,417,000 tonnes at 7.50 g/t) within the Inferred class and is positioned roughly 850 meters alongside strike to the west of the Goose Principal deposit and roughly 1,000 meters down plunge (Determine 1). The mineralization is hosted inside a polyphase folded sequence of the Again River decrease iron formation stratigraphy, coincident with buildings which are interpreted as being a significant factor of the most important mineralizing horizon(s) on the Goose Website. A complete of 14,875 meters in 17 drill holes, together with choose holes that have been oriented, informs the Inferred useful resource. The deposit stays open in all instructions.

Llama Extension

The Llama Extension gold discovery totals 424,000 ounces (1,744,000 tonnes at 7.55 g/t) within the Inferred class and represents the down plunge extension of the Llama Deposit gold construction. Exploration for extensions to the Llama deposit commenced in 2017 with a profitable 300 meter step out. Observe-up drilling by means of 2020 culminated in a longtime mineralizing plunge extent of 600 meters. The mixed size of mineralized plunge under the proposed Llama pit now represents a complete of 1,350 meters and the extension deposit stays open at depth. A complete of 15,168 meters in 26 drill holes, together with choose holes that have been oriented, informs the brand new inferred useful resource.

Determine 1. Indirect 3D view of the modelled Goose Website decrease iron formation and principal gold mineralization.

https://www.globenewswire.com/NewsRoom/AttachmentNg/14bb88fd-cb28-4c49-b44a-030d6d72e5bd

Certified Individuals

The 2020 Mineral Useful resource Estimate for the Again River Property have been ready and authorized by Ms. Dinara Nussipakynova, P. Geo, of AMC Mining Consultants (Canada) Ltd. Ms. Nussipakynova is an unbiased Certified Individual pursuant to Nationwide Instrument 43-101, and he or she has reviewed and authorized the contents of this press launch because it pertains to the mineral useful resource estimation work and outcomes thereof.

Mr. James Maxwell, P. Geo., and Director of Exploration for Sabina, is a Certified Individual pursuant to Nationwide Instrument 43-101 and has reviewed and authorized of the technical content material of this press launch because it pertains to the Again River Mission.

Sabina Gold & Silver Corp.

Sabina Gold & Silver Corp. is well-financed and is an rising valuable metals firm with district scale, superior, excessive grade gold property in Nunavut, Canada.

Sabina launched a Feasibility Research on its 100% owned Again River Gold Mission which presents a venture that has been designed on a fit-for goal foundation, with the potential to provide ~200,000 ounces a 12 months for ~11 years with a fast payback of two.9 years (see “Technical Report for the Preliminary Mission Feasibility Research on the Again River Gold Property, Nunavut, Canada” dated October 28, 2015).  An Up to date Feasibility Research on an expanded venture is because of be issued in Q1, 2021.

The Mission acquired its ultimate main authorization in June 25, 2020 and is now in receipt of all main permits and authorizations for development and operations.

Along with Again River, Sabina additionally owns a major silver royalty on Glencore’s Hackett River Mission.  The silver royalty on Hackett River’s silver manufacturing is comprised of twenty-two.5% of the primary 190 million ounces produced and 12.5% of all silver produced thereafter.

For additional data please contact:

Ahead Trying Info This information launch accommodates “forward-looking data” throughout the that means of relevant securities legal guidelines (the “forward-looking statements”), together with, however not restricted to, our estimate that the UFS might be accomplished throughout the first quarter of 2021, our expectations concerning a conversion of useful resource estimates into reserves, our anticipation of a major improve within the mineral reserve estimate for the Goose Mission, our statements a few attainable extension of mine life and progress in direction of our goal annual gold manufacturing, and our assertion concerning the potential for future further underground mines at Again River. These forward-looking statements are made as of the date of this information launch. Readers are cautioned to not place undue reliance on forward-looking statements, as there may be no assurance that the longer term circumstances, outcomes or outcomes anticipated in or implied by such forward-looking statements will happen or that plans, intentions or expectations upon which the forward-looking statements are based mostly will happen. Whereas now we have based mostly these forward-looking statements on our expectations about future occasions as on the date that such statements have been ready, the statements usually are not a assure that such future occasions will happen and are topic to dangers, uncertainties, assumptions and different elements which might trigger occasions or outcomes to vary materially from these expressed or implied by such forward-looking statements. Such elements and assumptions embrace, amongst others, the accuracy of present useful resource estimates and the interpretation of drill, metallurgical testing and different exploration outcomes; the consequences of normal financial circumstances, commodity costs, altering overseas trade charges and actions by authorities and regulatory authorities; and misjudgments in the middle of making ready forward-looking statements. As well as, there are recognized and unknown threat elements which might trigger our precise outcomes, efficiency or achievements to vary materially from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Recognized threat elements embrace dangers related to exploration and venture improvement; the necessity for extra financing; the calculation of mineral assets and reserves; operational dangers related to mining and mineral processing; fluctuations in steel costs; title issues; authorities regulation; acquiring and renewing needed licenses and permits; environmental legal responsibility and insurance coverage; reliance on key personnel; the potential for conflicts of curiosity amongst sure of our officers or administrators; the absence of dividends; foreign money fluctuations; labour disputes; competitors; dilution; the volatility of the our frequent share worth and quantity; future gross sales of shares by current shareholders; and different dangers and uncertainties, together with these referring to the Again River Mission and normal dangers related to the mineral exploration and improvement business described in our Annual Info Kind, monetary statements and MD&A for the fiscal interval ended December 31, 2019 filed with the Canadian Securities Directors and accessible at www.sedar.com. Though now we have tried to determine necessary elements that might trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking statements, there could also be different elements that trigger actions, occasions or outcomes to not be as anticipated, estimated or supposed. There may be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking statements. We’re underneath no obligation to replace or alter any forward-looking statements besides as required underneath relevant securities legal guidelines.

This information launch has been licensed by the undersigned on behalf of Sabina Gold & Silver Corp.

Bruce McLeod, President & CEO Suite 1800 – Two Bentall Centre 555 Burrard Avenue Vancouver, BC V7X 1M7 Tel 604 998-4175 Fax 604 998-1051 http://www.sabinagoldsilver.com

Determine 1

Indirect 3D view of the modelled Goose Website decrease iron formation and principal gold mineralization