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Sabina Gold & Silver Announces Positive Results from Umwelt Deposit at Back River Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 24, 2013) - Sabina Gold & Silver Corp (SBB.TO) ("Sabina" or the "Company") is pleased to provide an update on the Company's 2013 exploration program and to announce continued positive drilling results at the Umwelt deposit on the Goose property on its 100% owned Back River project in Nunavut.

"We are very pleased with the conversion drilling that has been completed at Umwelt to date," said Rob Pease, President & CEO. "The Umwelt deposit is the largest of the Back River resources. Drilling in the proposed pit shell continues to demonstrate continuity and good grade. The Umwelt deposit is also our largest underground resource to date with mineralization over 1km deep with very good grades and widths found in the G2 Zone. Work at the George property will be wrapping up for the season by early August, however, we will continue to evaluate new targets for potential new open pit discoveries at Goose, Boot and Boulder well into September."

Umwelt Conversion Drilling Program

Resource conversion drilling has been completed on a portion of the currently proposed open pit at the Umwelt deposit with the primary objective of converting indicated resources to the measured category. Assay results returned to date are very encouraging and continue to demonstrate the continuity and high grade nature of this deposit.

A total of 52 drill holes were completed at Umwelt in 2013, with final assay results being received for 29 holes. All of these holes were drilled within the proposed open pit over approximately 300m along the length of the deposit.

Assay results received to date, including 19.27 g/t Au over 18.60m in hole 13GSE337 (Section 4850N), and 24.13 g/t Au over 21.85m in hole 13GSE340 (section 4900N), are indicative of the continuity of the gold mineralization at Umwelt. The complete listing of significant results received to date is appended in the table below.

Complete assay results have been received for all holes drilled on section 5025N and this cross section is presented below as an example of the good grade distribution at Umwelt.

Llama Conversion Drilling Program

Results for all 33 holes of the Llama open pit infill drill program have now been received and continue to support the 2013 objective of converting portions of the open pit mineralization at Llama to a measured resource. Additional holes from the north portion of the deposit continue to highlight the resource quality within this area including holes 13GSE312 returning 11.93g/t over 15.20m and 13GSE309 returning 4.97g/t over 7.75m. All final assay results that have not been previously released are appended in the table below.

Llama Assay Highlights

Hole ID Area Section Easting Northing Depth From
(m)
To
(m)
Length
(m)
Au
(g/t)
Zone Name
13GSE306 LL 5200L 428659 7272338 152.0 106.35 108.05 1.70 2.98 Main East
13GSE309 LL 5225L 428683 7272380 152.0 83.80 91.55 7.75 4.97 Main East
including 87.00 90.05 3.05 10.98 Main East
13GSE311 LL 5175L 428739 7272354 77.0 22.50 23.25 0.75 130.80 Undefined
49.00 50.75 1.75 1.19 Main East
51.65 54.75 3.10 1.39 Main East
13GSE312 LL 5175L 428721 7272344 119.0 80.30 95.50 15.20 11.93 Main East
including 80.30 82.30 2.00 23.31 Main East
and 83.40 86.30 2.90 20.27 Main East

True widths have not yet been determined.

Ongoing exploration

In addition to conversion holes, drilling has commenced recently on the upper portions of the Llama underground with a goal of converting resources that are currently classed as inferred to indicated. Also, exploration drilling continues to focus on defining potential at a number of target areas on the Goose property including the Echo, Resurgence and Goose Tail zones.

More regional targets outside of the Goose area include the Boot and Boulder properties where two drill rigs continue to test exploration targets. This drilling is focused on evaluating the potential for large open pit discoveries.

Bathurst Inlet Port and Road (BIPR) Update

Earlier this year, the Company and Glencore Xstrata LLP jointly submitted an updated project proposal for the BIPR project that contemplates infrastructure for the Hackett River project and region. In 2013, work has focused on completing a draft environmental impact statement (DEIS) on BIPR for filing later this year.

Work included a geotechnical drilling program to assess the foundation material around the proposed port area. Preliminary results suggest material in the currently proposed port area is not adequate and further geotechnical drilling has been planned to assess a more suitable port area in the immediate vicinity. As a result, the DEIS will not be filed until this work has been completed.

Qualified Persons

The Qualified Person as defined by NI 43-101 as pertains to the Back River Project, is Angus Campbell, P.Geo., Vice-President, Exploration, for the Company who has read and approved the contents of this news release.

True widths for the intercepts reported in this news release have not yet been determined.

Diamond drill core was sent to TSL Laboratories in Saskatoon, Sask. Quality control is monitored on a continual basis and utilizes a system of standards, blanks and duplicates to ensure analytical accuracy. The protocols and procedures used in 2013 are the same as those used in earlier campaigns by Sabina Gold & Silver Corp. and have been deemed appropriate in the Company's 43-101 compliant resource reports.

SABINA GOLD & SILVER CORP.

Sabina Gold & Silver Corp. is an emerging gold developer with district scale, world class assets in one of the world's newest, most politically stable mining jurisdictions: Nunavut, Canada.

Sabina's primary assets, all located in Nunavut, consist of: the Back River Gold Project, currently in the pre-feasibility and permitting phase; the Wishbone Claims, a vastly prospective grass roots project; and the Hackett River Silver Royalty, a silver production royalty on Xstrata Zinc's Hackett River project comprising 22.5% of the first 190 million ounces produced and 12.5% of all the 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.

Forward-Looking Statements

Statements relating to future operations at the Back River Project and the Hackett River Project and the expected results of this work are forward-looking statements within the meaning of securities legislation of certain Provinces in Canada. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Sabina's operations and other risks and uncertainties, including those described in Sabina's Annual Report for the year ended December 31, 2012.

Forward-looking statements are based on the beliefs, estimates and opinions of Sabina's management on the date the statements are made. Sabina undertakes no obligation to update these forward-looking statements should management's beliefs, estimates or opinions, or other factors, change.

This news release has been authorized by the undersigned on behalf of Sabina Gold & Silver Corp.

Rob Pease, President & CEO
930 West 1st Street, Suite 202
North Vancouver, BC, V7P 3N4
Tel: 604 998-4175, Fax: 604 998-1051
http://www.sabinagoldsilver.com

Umwelt Assay Results

Hole ID Area Section From
(m)
To
(m)
Length
(m)
Au
(g/t)
Zone Name
13GSE313 UM 5025 49.00 60.20 11.20 9.46 Main Zone Centre
including 51.30 52.20 0.90 32.77 Main Zone Centre
and 53.50 54.40 0.90 21.73 Main Zone Centre
and 56.00 57.00 1.00 16.98 Main Zone Centre
13GSE317 UM 5025 35.45 52.40 16.95 6.51 Main Zone Centre
including 41.90 44.30 2.40 23.06 Main Zone Centre
65.00 68.10 3.10 78.52 Main Zone Centre
Including 66.05 67.00 0.95 146.50 Main Zone Centre
13GSE318 UM 5025 39.40 40.90 1.50 1.13 Main Zone East
61.10 73.50 12.40 4.51 Main Zone East
including 61.10 62.95 1.85 11.56 Main Zone East
and 71.50 73.50 2.00 12.82 Main Zone East
13GSE322 UM 5025 72.00 73.70 1.70 1.50 Main Zone East
76.35 77.50 1.15 1.01 Main Zone East
13GSE324 UM 5025 26.00 51.00 25.00 8.47 Main Zone East
including 32.15 33.00 0.85 49.57 Main Zone East
and 45.00 47.00 2.00 20.65 Main Zone East
53.80 54.50 0.70 1.80 Main Zone East
13GSE325 UM 5025 5.00 56.25 51.25 4.93 Main Zone Centre
including 13.45 14.00 0.55 30.57 Main Zone Centre
and 15.75 17.00 1.25 16.15 Main Zone Centre
and 18.50 21.00 2.50 48.29 Main Zone Centre
63.95 81.70 17.75 4.16 Main Zone Centre
including 77.00 80.00 3.00 12.39 Main Zone Centre
13GSE329 UM 5050 NSV
13GSE330 UM 5050 7.90 32.15 24.25 6.76 Main Zone Centre
including 22.00 28.45 6.45 15.13 Main Zone Centre
and 31.40 32.15 0.75 45.73 Main Zone Centre
13GSE331 UM 4850 114.60 115.25 0.65 9.60 Main Zone Centre
119.25 120.25 1.00 6.41 Main Zone Centre
134.20 156.10 21.90 10.10 Main Zone Centre
including 136.20 136.85 0.65 31.19 Main Zone Centre
and 151.60 155.10 3.50 35.55 Main Zone Centre
159.10 160.10 1.00 1.05 Main Zone Centre
167.10 169.10 2.00 2.39 Main Zone Centre
179.15 180.20 1.05 3.16 Main Zone Centre
186.35 187.50 1.15 1.39 Main Zone Centre
202.15 204.35 2.20 1.23 Main Zone Centre
208.75 209.80 1.05 6.24 Main Zone Centre
210.35 211.55 1.20 1.65 Main Zone Centre
222.30 223.25 0.95 8.08 Main Zone Centre
13GSE333 UM 5050 18.00 19.25 1.25 1.42 Main Zone Centre
26.25 36.60 10.35 12.33 Main Zone Centre
including 29.75 33.00 3.25 30.99 Main Zone Centre
43.00 44.00 1.00 1.51 Main Zone Centre
13GSE334 UM 5050 NSV Main Zone Centre
13GSE337 UM 4850 64.75 65.70 0.95 1.23 Undefined
66.65 67.60 0.95 1.70 Undefined
80.45 81.45 1.00 1.49 Undefined
98.00 98.65 0.65 2.06 Main Zone Centre
104.70 110.25 5.55 13.31 Main Zone Centre
including 104.70 106.05 1.35 14.27 Main Zone Centre
and 109.25 110.25 1.00 54.18 Main Zone Centre
124.20 125.35 1.15 6.55 Main Zone Centre
129.85 131.10 1.25 4.65 Main Zone Centre
133.90 152.50 18.60 19.27 Main Zone Centre
including 136.90 137.45 0.55 59.40 Main Zone Centre
and 140.35 141.40 1.05 139.90 Main Zone Centre
13GSE339 UM 5075 10.85 30.50 19.65 1.97 Main Zone Centre
Including 11.70 12.30 0.60 18.83 Main Zone Centre
and 20.90 21.50 0.60 6.41 Main Zone Centre
13GSE340 UM 4900 102.20 124.05 21.85 24.13 Main Zone East
including 115.00 124.05 9.05 48.45 Main Zone East
which includes 121.00 122.00 1.00 183.80 Main Zone East
128.95 131.00 2.05 2.89 Main Zone East
194.20 195.25 1.05 2.40 Main Zone West
13GSE341 UM 4850 64.90 65.55 0.65 1.05 Upper IF
73.35 74.30 0.95 1.17 Upper IF
79.40 80.15 0.75 1.59 Upper IF
86.25 87.05 0.80 6.72 Upper IF
101.25 125.20 23.95 14.95 Main Zone Centre
including 113.50 114.35 0.85 46.07 Main Zone Centre
and 115.20 121.05 5.85 30.96 Main Zone Centre
131.95 137.40 5.45 30.28 Main Zone Centre
including 134.85 135.35 0.50 98.23 Main Zone Centre
13GSE342 UM 5075 12.90 24.00 11.10 5.29 Main Zone Centre
including 15.65 16.35 0.70 36.45 Main Zone Centre
13GSE343 UM 5075 3.90 17.45 13.55 7.10 Main Zone Centre
including 5.50 6.20 0.70 15.88 Main Zone Centre
13GSE344 UM 5075 7.00 23.70 16.70 11.51 Main Zone Centre
including 11.00 12.00 1.00 103.90 Main Zone Centre
36.00 38.35 2.35 1.39 Central GW
13GSE345 UM 4900 55.50 56.45 0.95 1.22 Main Zone East
106.45 125.65 19.20 3.59 Main Zone East
including 120.65 122.80 2.15 8.81 Main Zone East
and 124.70 125.65 0.95 11.16 Main Zone East
129.50 131.00 1.50 1.37 Main Zone East
207.70 215.90 8.20 9.98 Main Zone West
including 212.85 213.85 1.00 17.59 Main Zone West
13GSE346 UM 4875 99.80 105.45 5.65 1.33 Main Zone East
116.00 125.00 9.00 3.38 Main Zone East
128.00 130.00 2.00 1.70 Main Zone East
231.85 236.20 4.35 48.77 Main Zone West
including 233.70 234.45 0.75 112.50 Main Zone West
13GSE347 UM 5075 23.90 25.90 2.00 3.73 Main Zone East
30.90 31.90 1.00 6.57 Main Zone East
13GSE349 UM 4900 10.15 11.95 1.80 37.20 Undefined
including 10.15 10.70 0.55 116.30 Undefined
16.00 16.65 0.65 3.33 Undefined
39.60 41.00 1.40 1.34 Undefined
50.20 51.55 1.35 2.54 Undefined
101.75 104.20 2.45 26.52 Main Zone Centre
108.15 134.30 26.15 15.83 Main Zone Centre
including 108.15 111.10 2.95 29.03 Main Zone Centre
and 116.60 117.55 0.95 112.90 Main Zone Centre
and 122.70 123.70 1.00 53.55 Main Zone Centre
13GSE350 UM 5075 43.40 44.40 1.00 1.06 Undefined
53.25 54.25 1.00 1.97 Main Zone East
13GSE351 UM 5100 39.60 40.60 1.00 2.61 Main Zone East
49.80 50.80 1.00 12.86 Main Zone East
13GSE352 UM 4875 105.15 105.65 0.50 2.62 Undefined
107.05 109.75 2.70 1.13 Undefined
122.90 123.80 0.90 10.58 Main Zone East
141.50 143.00 1.50 11.32 Main Zone East
264.50 266.00 1.50 1.66 Undefined
284.05 293.30 9.25 9.27 Main Zone West
including 292.60 293.30 2.80 26.65 Main Zone West
13GSE353 UM 4925 133.35 137.70 4.35 23.92 Main Zone East
including 135.25 136.40 1.15 53.09 Main Zone East
141.50 143.00 1.50 1.83 Undefined
13GSE355 UM 5125 38.40 38.90 0.50 6.10 Main Zone East
41.45 42.45 1.00 2.13 Main Zone East
44.10 50.25 6.15 5.46 Main Zone East
including 47.10 48.00 0.90 17.39 Main Zone East
13GSE356 UM 5125 12.15 12.95 0.80 1.06 Undefined
27.00 28.00 1.00 1.29 Main Zone East
30.30 31.30 1.00 3.16 Main Zone East
33.30 34.30 1.00 1.94 Main Zone East
13GSE357 UM 4875 85.90 87.15 1.25 2.43 Undefined
98.50 99.50 1.00 2.21 Main Zone Centre
103.50 127.45 23.95 10.37 Main Zone Centre
including 107.65 112.50 4.85 32.60 Main Zone Centre
and 121.00 123.00 2.00 21.08 Main Zone Centre
143.00 144.50 1.50 1.10 Central GW
149.00 150.50 1.50 1.01 Central GW
158.00 159.50 1.50 1.15 Central GW
195.10 201.30 6.20 25.39 Main Zone West
including 197.45 198.55 1.10 48.59 Main Zone West

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