| January 04, 2010 Sabina Completes Technical Report on Hackett PEA | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Vancouver, BC -- Sabina Gold & Silver Corp. (SBB-T) announced today the completion technical report of the previously announced preliminary economic assessment ("PEA) on its Hackett River silver project. The detailed 43-101 technical report was filed on SEDAR on December 23, 2009 outlining the PEA completed by PEG Mining Consultants ("PEG"). A summary of the PEA had been previously announced on November 12, 2009. The PEG PEA updates a study released in 2007 completed by Wardrop Engineering Inc. ("Wardrop"). The new study incorporates new information and considers changes in the project scope and is based on the new resource model and metallurgical recoveries announced earlier this year. "This new study is very encouraging," said Tony Walsh, President & CEO "it gives us a foundation to build on for the project and the region. Although already a robust project, there are still many opportunities to enhance the project economics and scope. We plan to continue to exploit the opportunities we see to improve the project economics before proceeding to further development studies." Table 1 - Project Highlights:
Table 2 -- Economic Analysis
Note: Current prices are as of December 16, 2009 Hackett River is one of three Sabina projects in the Western Kitikmeot Region of Nunavut, Canada and is situated approximately 75 km from tide water on the largely unexplored, highly prospective Hackett River Greenstone Belt ("HRGB"). The HRGB is also host to Sabina's Back River gold project as well as its grassroots Wishbone project. The combined properties total approximately 3,000 square km and provide Sabina with a strong land position in the region. Quality Assurance Project management of the PEA was conducted by Eric Harkonen, P.Eng. and Prinicipal Project Manager/Mine Engineer of PEG. He is a Qualified Person under the terms of 43-101 and has reviewed the technical content of this press release and approved its dissemination. John Wakeford, P.Geo. and Senior Vice President Corporate Development of Sabina is a Qualified Person under the terms of 43-101 and has reviewed the technical content of this press release and approved its dissemination. SABINA GOLD & SILVER CORP. is a Canadian public mineral exploration and development company. Key assets include the Hackett River silver project, the Back River gold project and the Wishbone grassroots exploration project all in Nunavut. Additionally, the Company has several projects in the Red Lake gold camp. For further information please contact: John Wakeford Senior Vice President Corporate Development 1 888 648-4218 jwakeford@sabinagoldsilver.com This news release has been authorized by the undersigned on behalf of Sabina Gold & Silver Corp. John Wakeford Senior Vice President Corporate Development 930 West 1st Street, Suite 202 North Vancouver, BC V7P 3N4 1 888-648-4218 http://www.sabinagoldsilver.com | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
