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VANCOUVER, BRITISH COLUMBIA – Feb. 12, 2014 – Sabina Gold & Silver Corp. (“Sabina” or the “Company”) (TSX:SBB) is pleased to announce that it has received notice from the Nunavut Impact Review Board (“NIRB”) that the Back River Draft Environmental Impact Statement (“DEIS”) conforms with the environmental assessment guidelines and that the technical review process has begun.
On January 22, 2014, the Company announced it had filed its DEIS and associated water licence applications with NIRB and the Nunavut Water Board (“NWB”) respectively to commence the environmental assessment process on the Back River Gold Project (the “Project”). At Sabina’s request, the Boards have implemented a coordinated review process and as such have consulted regarding various sections of the DEIS conformity check.
The technical review process is meant to provide a detailed review of the document with the intent of analyzing the quality of the information presented on the potential effects of the project. The detailed review of the DEIS will be undertaken by various regulatory and government agencies, Inuit stakeholders and other interested parties.
The various steps in the technical review process involve receiving comments and questions from all parties, communities and constituents, responding with clarification, and developing processes to address concerns and requirements for inclusion in the Final Environmental Impact Statement (“FEIS”). The technical review period should be completed and technical meetings commenced sometime in the second half of 2014.
“Our team has worked very hard to ensure conformity for our DEIS submission,” said Rob Pease, President & CEO “It is an arduous yet critical component of the process. The technical review process will enable us to determine the level of additional engineering and environmental work we need to complete the FEIS. We are committed to developing Back River in an environmentally responsible manner and look forward to continuing to engage with our Inuit partners, various levels of government and other stakeholders as we move through the environmental assessment process.”
Current Work Plans
Sabina is currently working on a new resource estimate for Back River which will include all drilling done in 2013 and is expected to be announced before the end of February 2014.
Ongoing optimization studies are also underway to support the feasibility, including metallurgical testing, mining method optimizations and other trade off studies. These studies are anticipated to be completed by the end of the first quarter, at which time, Sabina will determine work programs for 2014.
SABINA GOLD & SILVER CORP
Sabina 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 Glencore’s Hackett River project comprising 22.5% of the first 190 million ounces produced and 12.5% of all the silver produced thereafter.
Statements relating to mineral resources and future operations at the Hackett River Project, and the expected results of work being carried out on such projects are forward-looking information within the meaning of securities legislation of certain Provinces in Canada. Forward looking information 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, including mineral resource estimates, may also be deemed to be forward looking information, as they constitute a prediction of what might be found to be present when and if a project is actually developed. This forward-looking information is 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 information, 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 Information Form for the year ended December 31, 2012.
Forward-looking information is based on the beliefs, estimates and opinions of Sabina’s management on the date the statements are made. Sabina undertakes no obligation to update this forward-looking information should management’s beliefs, estimates or opinions, or other factors, should 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
Sabina Gold & Silver Corp.
1 888 648-4218