Sabina Gold & Silver Corp. Amends Text of Proposed New Articles for Upcoming Annual General and Special Meeting of Shareholders

VANCOUVER, British Columbia, May 22, 2020 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX), (“Sabina” or the “Company”) announces that it has amended the text of the proposed new Articles of the Company which are to be presented for shareholder approval at the Company’s upcoming shareholders’ meeting on June 4, 2020.

In order to satisfy ISS concerns regarding the Company’s proposed Articles for adoption at the upcoming Annual General and Special Meeting of shareholders on June 4, 2020, the Company has revised language in section 14.12(4) of the proposed Articles:

From:

“The Company may require any proposed nominee to furnish such other information as may reasonably be required by the Company to determine the eligibility of such proposed nominee to serve as an independent director of the Company or that could be material to a reasonable shareholder’s understanding of the independence, or lack thereof, of such proposed nominee.”

To:

“The Company may require any proposed nominee to furnish such other information as required by Applicable Securities Laws to determine the eligibility of such proposed nominee to serve as an independent director of the Company or that could be material to a reasonable shareholder’s understanding of the independence, or lack thereof, of such proposed nominee.”

About Sabina Gold & Silver

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.

The Company had approximately $21.2 million in cash, cash equivalents and short-term investments as at March 31, 2020.

For further information, please contact:

Nicole Hoeller, Vice-President, Communications: 1 888 648-4218

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

Bruce McLeod, President & CEO

Suite 1800 – Two Bentall Centre

555 Burrard Street

Vancouver, BC V7X 1M7

Tel 604 998-4175 Fax 604 998-1051