this board has become a wasteland---sbb is ripe for a take-over at maybe 3 times pps today---------tmonkey

$RIC These Four Gold Miners Can Maintain Profitability at Current Prices - article mentions Sabina

http://marketexclusive.com/these-four-gold-miners-can-maintain-profitability-at-current-prices/1213/

Nice resource. Mining is a ways out. You could buy and hide under your mattress.

Let's take a closer look ...

October 7, 2014
SABINA GOLD & SILVER REPORTS ON BACK RIVER FEASIBILITY STUDY PROGRESS

VANCOUVER - October 7, 2014, Sabina Gold & Silver Corp. (the "Company") (SBB - TSX) is pleased to provide a progress report on optimization work currently being undertaken as part of the Feasibility Study ("FS") being prepared on the Company's 100% owned Back River Gold Project, ("Back River") or (the "Project") Nunavut, Canada.

The FS, launched in June of this year, is being completed by a team of highly qualified engineering and environmental firms: JDS Energy and Mining Inc. (lead), Hatch, SRK Consulting, Knight Piesold Ltd., and AMC Consultants Pty Ltd. All of these firms have extensive recent Arctic experience.

"Our studies for the Back River FS are very much on track," said Rob Pease, President & CEO "the Pre-feasibility Study ("PFS") was a snapshot in time and enabled us to identify strategies to optimize the Project. While final results and economics for the FS are not expected to be completed until the first half of next year, we are very encouraged by our progress so far and believe with the volume of additional information we now have, that Back River is going to be a compelling project. We are also very fortunate to have what we believe is the best Arctic team in Canada working on the Project. Our consultants all have significant Northern experience in design, construction, operations and permitting which will bring relevant hands-on credibility to the FS."

After completion of the PFS announced in October 2013, a number of opportunities to enhance Project economics in the FS were identified and work has progressed in these areas (some of which were announced earlier this year):
As announced in March of this year, a new Mineral Resource estimate was completed compiling approximately 82,000 meters drilled in 2013 that were not included in the PFS. The current estimate includes a Measured Mineral Resource of 10.4 million tonnes grading 5.2 g/t for 1,761,000 million contained ounces Au, an Indicated Mineral Resource of 17.9 million tonnes grading 6.1 g/t for 3,536,000 contained ounces Au and an Inferred Mineral Resource of 8.2 million tonnes grading 7.3 g/t for a contained 1,927,000 ounces Au. (see press release dated March 4, 2014). Although the impact of the increased resource on the Project will not be fully known until completion of the FS, we believe that the increase in measured and indicated mineral resources and increase in confidence in the continuity and grade of the deposits offers the potential for a larger mineral reserve on the project and a potentially longer mine life;
For the FS, a comprehensive review of all the mining areas is being undertaken. This review is focusing primarily on underground areas where conversion of inferred resources into the Measured and Indicated categories has demonstrated increased continuity leading to potentially more efficient development strategies and mining methods. The FS will consider whether this could offer a potential reduction in underground mining costs, increased mining recovery and decreased dilution;
The life of mine ("LOM") gold recoveries in the PFS were estimated to average 88.0%. As previously announced, metallurgical testing since the PFS has resulted in increased recoveries to an estimated 93.9% over the LOM. This indicates approximately 5% more metal over the LOM relative to the PFS, and more significantly, a potentially bigger impact in the early years from the first two pits at Llama and Umwelt which had the lowest recoveries in the PFS (see news release dated April 22, 2014);
The PFS contemplated underground development occurring from the bottom of the open pits and a single tailings storage facility ("TSF") to accommodate tailings waste for the LOM. Current studies for the FS are evaluating the effects of ramp access to the underground external to the open pits. This change allows for other tailings disposal options to be considered in the FS, including the use of open pits for tailings disposal. This may have a positive impact on sustaining capital as well as on the permitting process; and
In the PFS the Project envisioned a 5,000 tonne per day operation, producing a LOM average of approximately 287,000 ounces Au per year. Analysis is underway for the FS on a scenario which would increase the throughput of the process plant by up to 20% for the majority of the LOM. This could alleviate some of the planned open pit stockpiling and increase the overall production profile.
Detailed engineering on these concepts is ongoing and Project economics are not yet available. Readers are cautioned that until the FS is completed, the implications of these concepts on the Project, including on Project economics, will not be fully understood. Results will be used to support the FS which is expected to be completed in the first half of 2015.

Permitting

On January 22, 2014, the Company submitted the Back River draft Environmental Impact Study ("DEIS") and associated water license application for the Project to the Nunavut Impact Review Board ("NIRB") and the Nunavut Water Board. The DEIS presents scientific and community based knowledge that determined key aspects of the natural and socio-economic environments in the region. Project interactions were identified; residual effects assessed and proposed mitigation and monitoring plans developed for the construction, operation and closure of the Project. In February 2014, the Company received notice from NIRB that the Back River DEIS conformed to the environmental assessment guidelines. In March, 2014 the Company received information requests from the technical review process. On July 23, 2014, the company submitted its information request responses to NIRB. On July 31, 2014, NIRB advised that the Company's submission was conformant and that meetings for the technical review process had been set for November 13-15, 2014, and the pre-hearing conference was set for November 17-19, 2014 in Cambridge Bay.

The Back River Final Environmental Impact Statement ("FEIS") will be informed by the FS early next year and is expected to be submitted to NIRB during the third quarter of 2015.

Project Financing

It is anticipated that the Company will end 2014 with approximately $30 million in cash. Sabina remains well funded to take the Project through completion of the FS and the environmental assessment process. The Company forecasts that its cash balance after completion of the FS and the FEIS would be approximately $23 million (at the end of 2015 and not including any field work that may be required to complete the FEIS).

Management is currently informally exploring project financing alternatives and opportunities. While the Project is expected to be substantively de-risked by the end of 2015, (with the FS and environmental assessment completed), subject to the results of the FS and FEIS, the Company would start construction of the Back River Project at an appropriate time once financing is secured on satisfactory terms in a manner which is in the best interests of all shareholders.

Quality Assurance

The Mineral Resources for the Back River deposits were estimated by AMC Mining Consultants (Canada) Ltd. The Qualified Persons are Dinara Nussipakynova, P Geo. and Andrew Fowler MAusIMM CP (Geo) both of AMC Mining Consultants (Canada) Ltd., and both are independent of Sabina.

Wes Carson, P.Eng. and Vice-President, Project Development for Sabina Gold & Silver Corp. is a Qualified Person under the terms of NI 43-101 and has reviewed the technical content of this press and has approved its dissemination.

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 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.

Very cheap way to play the upcoming rise in Metals......thinking 1-3 years out.

~ $SGSVF ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!

$SGSVF has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~

What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~


To find other similar posts of "SGSVF" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "SGSVF": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=SGSVF ~
Search Ihub for "SGSVF" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=SGSVF ~


For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~


Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~

Nice company, great Royalty. I'll begin loading here shortly.

Van

Fresh Releases
Pretium Resources Inc T.PVG | Source Exploration Corp V.SOP | Sabina Gold & Silver Corp T.SBB
Kevin Michael Grace

Pretium reports BC Assays up to 186.8 g/t Gold, 89.8 g/t Silver over 4.7 metres

Source reports Mexico Assays up to 1.57 g/t Gold, 18.48 g/t Silver, 1.25% Copper over 28m

Sabina reports Nunavut Gold Assays up to 16.54 g/t over 25.5m

Read the rest of these press release summaries and results here. http://resourceswire.com/2012/10/fresh-releases-8/

North Of 60
Sabina Faces a Huge Challenge in Nunavut

By Ted Niles

The Canadian Arctic contains the largest reserve of unexploited natural resources in the world. But they have remained unexploited for good reasons: savage weather and nominal infrastructure. Even as talk of climbing temperatures and Prime Minister Stephen Harper’s commitment to the region excite interest, the cost of development remains a dauntingly high barrier to entry for such as Sabina Gold & Silver.

In response to this challenge, Sabina announced June 2 that it had sold its Nunavut Hackett River Project and some Wishbone Greenbelt Belt claims to Swiss mining giant Xstrata for $50 million and a silver production royalty equal to 22.5% of the first 190 million ounces of payable silver and 12.5% thereafter. President/CEO Tony Walsh explained that the deal “transforms Sabina into a purely precious metals company… Our goal is to become a mid-tier gold company producing between 300K to 400K ounces of gold per year from Back River, a project scope we believe we can expedite.”

Read the rest of this article:http://bit.ly/rgHSec

Sabina Gold & Silver Announces Agreement With Xstrata Zinc Canada to Sell Hackett River Project and Certain Wishbone Claims

June 02, 2011

http://www.sabinagoldsilver.com/s/NewsReleases.asp?ReportID=460402

Definitive agreement signed to sell Hackett River and part of Wishbone for $50 million cash and reservation of a silver production royalty equal to 22.5% of first 190 million ounces of Silver product and 12.5% thereafter -

Vancouver, BC -- Sabina Gold & Silver Corp (SBB.T) is pleased to announce that it has entered into a definitive agreement (the "Agreement') to sell its 100% owned Hackett River property and certain claims on the Wishbone Greenstone belt (the "Properties") to Xstrata Canada Corporation, Xstrata Zinc Canada Division ("Xstrata").

Under the terms of the Agreement, Xstrata has agreed to pay cash consideration of $50 million. Sabina will reserve a silver production royalty equal to 22.5% of the first 190 million ounces of payable silver from the current resource at Hackett River and other properties and 12.5% of all payable silver from the Properties thereafter at no future cost to Sabina. Additionally, Xstrata has agreed to incur not less than $50 million on exploration and other expenditures on the Properties over a four year period in order to advance the Properties and complete a National Instrument 43-101 compliant feasibility study. Sabina will retain Wishbone claims at the south- east of Hackett River covering geological units which are similar to Back River and are potential gold targets.

"This transaction creates significant value for our shareholders and for the Territory of Nunavut. It transforms Sabina into a purely precious metals company, with a potentially significant source of value in our ongoing silver royalty" said Tony Walsh, President & CEO.

"Our goal is to become a mid-tier gold company producing between 300k -- 400k ounces of gold per year from Back River, a project scope we believe we can expedite. With a large, well respected mining group like Xstrata taking over the reins at Hackett, Sabina shareholders as well as the stakeholders in Nunavut have an improved opportunity to realize value sooner. Based on our 2009 PEA, 22.5% of 190 million ounces of silver over 16 years at Hackett is approximately 2.7 million ounces annually. At today's ratio of 40 ounces of silver to one ounce of gold, Hackett silver production alone could add approximately 70,000 ounces of gold equivalent to Sabina's production profile annually at no cost. This transaction allows us to focus on bringing Back River into production, while retaining our leverage to the considerable silver at Hackett River and the exploration upside of both Hackett and the associated Wishbone claims." He said.

Xstrata, the world's largest zinc producer, provides a higher level of confidence that Hackett will be developed and become a producing mine in an earlier timeframe while at the same time continuing to explore the Properties. In addition to potential gold equivalent ounces from Hackett and Wishbone, Sabina operations could be further enhanced by the use of infrastructure built for Hackett by Xstrata.

"This transaction solidifies Sabina's precious metals focus and poises the Company for a potential market re-rating as a gold company. Certainly having the strength of a major company like Xstrata in close proximity to our projects helps to mitigate against the challenges of mining in the north." said Tony Walsh

Xstrata Zinc Canada Chief Operating Officer Manuel Alvarez commented: "This transaction, added to the extension of the life of our Brunswick Mine and the development of the Bracemac-McLeod Mine, is consistent with our strategy of increasing the life of Xstrata Zinc's operations in Canada and demonstrates Xstrata Zinc's commitment to a growing presence in the country. We now look forward to working with local stakeholders in Nunavut in the coming years as this project moves forward."

BMO Capital Markets acted as exclusive financial advisor to Sabina and its Board of Directors in connection with the transaction and has provided to the Board of Directors and opinion to the effect that the consideration to be received by the Company is fair, from a financial point of view, to the Company. The Board of Directors also received an opinion from Paradigm Capital to the effect that the consideration received by the Company is fair, from a financial point of view, to the Company.

Rationale for the transaction

Hackett River, located 45 km west of the Company's Back River gold project in Nunavut, is a silver rich volcanic massive sulphide ("VMS") project and is one of the largest undeveloped projects of its type. According to a 43-101 Preliminary Economic Assessment completed by PEG Mining Consultants in December 2009, the project contains an indicated resource of 200 million ounces of silver (144 g/t) and 2 million tonnes of zinc (4.65%) along with an additional inferred resource of 64 million ounces of silver (136 g/t) and 652,000 tonnes of zinc (4.46%). The project also contains appreciable copper, lead and gold.

Over the last 18 months the Company's focus has shifted to its Back River gold assets also in Nunavut. With significant gold resources, exploration success and exploration potential at Back River, Sabina is aggressively pushing forward to become a mid-tier gold producer.

Recognizing that the Company has two potentially world class projects and given the size and complexity of Hackett River, in the fall of 2010 the Company engaged BMO Capital Markets to look for a strategic partner on the project. The objective of this strategy was to allow Sabina to focus on developing its gold assets, potentially enabling production sooner at a smaller scale at Back River, while at the same time continuing to push Hackett River forward.

The process was extensive. A data room was set up and approximately 53 companies were approached, with ten signing confidentiality agreements. Xstrata expressed interest in the project early in the process and were aggressive in completing due diligence and making a bona-fide offer.

Terms of the transaction

Under the Agreement, Xstrata has ten business days to complete confirmatory due diligence with applicable government agencies with respect to Sabina's title to the Properties and its permit rights.

Following closing, Xstrata is required to spend not less than $50 million on the Properties ("FS Expenditures") with a view to completing a NI 43-101 compliant feasibility study by the fourth anniversary of the completion date of the transaction. If the feasibility study has not been completed by this date, Xstrata can elect to incur additional FS Expenditures of not less than $10 million by each of the next three anniversaries.

If at any of the fourth, fifth, sixth or seventh anniversaries, Xstrata has not met the spending requirement and has not completed the feasibility study, Xstrata may elect to pay Sabina the shortfall, failing which, upon notice to Xstrata, Sabina may exercise a right to buy back ("Buy Back Right") the Properties for a cash purchase price equal to 100% of the FS Expenditures incurred by Xstrata. The Buy Back Right also applies if Xstrata has not by the seventh anniversary of the completion date publicly announced a definitive decision to begin construction of a mine within 12 months following such seventh anniversary.

Xstrata can pre-empt Sabina's Buy Back Right by electing to pay to an advance royalty of $75 million in three instalments of $25 million over three years.

The royalty rate is 22.5% on the first 190 million ounces of silver produced from what has been defined in a "Known Resource" 3-D block model completed for the purposes of the Agreement. The Known Resource consists of the existing Hackett River resources (as defined in the NI 43-101 Preliminary Economic Assessment) and additional tonnage of approximately 10% as assessed by Xstrata based on their review of Sabina's 2010 drilling on the project. Reconciliation of silver produced as it relates to the Known Resource will be completed once the Known Resource has been completely mined out. Thereafter, Sabina will be entitled to 12.5% of any additional silver mined from the "Known Resource" deposits and any silver mined elsewhere on the Properties. Once reconciled, and if less than 190 million ounces is mined and milled from the "Known Resource", any excess royalty paid to Sabina would be offset against future royalty payments. If a deposit other than the Known Resource is developed before the Known Resource, Sabina will still receive 22.5% of the first 190 million ounces of silver produced from the Properties, subject to the reconciliation noted above.

Ancillary Agreements

Sabina's silver production royalty is contained in a separate silver royalty agreement which sets out the terms for the calculation and payment of the silver production royalty and other rights relating thereto. Under the silver royalty agreement, Xstrata will have a right of first refusal if Sabina receives an offer to purchase the silver royalty from an arm's length third party. However, the right of first refusal will not apply to a sale of the silver royalty to certain purchasers named in the silver royalty agreement or, subject to the prior approval of Xstrata not to be unreasonably withheld, to a purchaser with a market capitalization greater than $500 million. In addition, the right of first refusal will not apply to an acquisition of Sabina, unless the royalty agreement represents all or substantially all of Sabina's assets.

The Agreement contemplates that an infrastructure access agreement will be entered into setting out the terms upon which Sabina will have the right, on competitive commercial terms, to use the infrastructure built by Xstrata for Hackett River.

The transaction will be completed upon transfer by Sabina to Xstrata of title documents, licences and permits and is subject to a number of other usual terms and conditions. Given the process for dealing with such matters in Nunavut, the transaction is expected to take approximately four and possibly up to six months for final completion.

Once the transaction has closed, an inventory will be taken of all materials at Hackett River and Xstrata will reimburse Sabina for transferred supplies.

SABINA GOLD & SILVER CORP

Quality Assurance

Mr. Peter Manojlovic, P. Geo, and Vice-President, Exploration of Sabina Gold & Silver Corp is a Qualified Person under the terms of NI43-101 and has reviewed the technical content of this press release and approved its dissemination.

Project management of the PEG PEA was conducted by Gordon Zurowski, P.Eng. He is a Qualified Person under the terms of 43-101. As part of the PEG Study, PEG verified the independent resource estimate and the metallurgical test program that was done for the East Cleaver, Boot Lake and Main Zone deposits prepared by AMEC. A new resource estimate was created by PEG for the Jo Zone. Pierre Desautels, P. Geo -- Geology and Todd McCracken, P. Geo -- Geology were the qualified persons responsible for the geological resource estimate. Engineering and economic criteria were applied to the geological estimates to establish that mineral resource estimates follow the CIM guidelines of reasonable expectation of economic extraction.

For further information please contact:
Nicole Hoeller, Director, IR:
1 888 648-4218
nhoeller@sabinagoldsilver.com

1. 5. Sabina Gold and Silver Corp. (TSX:SBB)

Sabina has been focused for years on the Hackett River project in Nunavut in the Canadian arctic, and was one of the first companies exploring for precious metals there. Hackett River (contained in the greenstone belt) is already one of the largest undeveloped deposits of its type in the world (volcanogenic massive sulphide (“VMS”)) and is analogous to the Kidd Creek and Noranda deposits which have been prolific large producers for decades and have supported considerable infrastructure. Indeed these deposits have been catalysts for development in their regions.’

Hackett River is also economically robust. In a 43-101 preliminary economic assessment (“PEA”) completed by PEG Mining Consultants, and filed in December 2009, the project generates $1.8 billion in net cash flow, and a 25.9% IRR. The Project would produce concentrates containing 182.8 million ounces of silver, 4.8 billion lbs of zinc, 311 million lbs of copper and 300,000 ounces of gold, over 16 years, to ship to eastern and western markets.

But Sabina is a multi-project precious and base metals play really. Its Black River project, containing over 3.4 million ounces of gold in a 43-101 indicated resource, and an additional 3.55 million ounces of gold in the inferred category, makes it an extremely attractive takeout target for senior mining companies in the next phase of the precious metals bull market now underway.

Sabina Silver Corporation

TSX VENTURE: SBB


Jun 11, 2009 08:08 ETSabina Silver Corporation Announces $12.0 Million "Bought Deal" FinancingVANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Sabina Silver Corporation (the "Corporation") (TSX VENTURE:SBB) is pleased to announce that it has entered into an agreement with Dundee Securities Corporation and BMO Capital Markets which have, on behalf of themselves and a syndicate of underwriters including Paradigm Capital Inc., Haywood Securities Inc. and Research Capital Corporation, have agreed to purchase, on a bought deal basis, 6,000,000 common shares (the "Common Shares") of the Corporation at a purchase price of $1.00 per Common Share, and 5,000,000 flow-through common shares (the "Flow-Through Common Shares") at a price of $1.20 per Flow-Through Common Share for aggregate gross proceeds of $12,000,000. The underwriters also have the option to purchase for resale up to an additional $3,000,000 Common Shares or Flow-Through Common Shares (in any combination) on the closing date. The gross proceeds of the Flow-Through Common Shares shall be used for exploration on the Corporation's Nunavut projects and the net proceeds of the Common Shares for general corporate purposes. A cash commission of 6% will be paid on the gross proceeds raised in the offering.

The Common Shares and Flow-Through Common Shares to be sold under this offering will be offered by way of a private placement in the Provinces of British Columbia, Alberta, and Ontario and the Common Shares to be sold under this offering will also be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

The offering is scheduled to close on June 30, 2009 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange, and other applicable securities regulatory authorities. All securities issued will be subject to a four month hold period.

SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc and the recently acquired Back River gold project and Wishbone claims in Nunavut along with several projects in the Red Lake gold camp. The Company is well capitalized with approximately $40 million in cash and marketable securities at March 31, 2009. The strategy to grow the company focuses on two mandates: 1) to continue to focus on enormous exploration and development potential of the Hackett River silver-zinc and Back River gold projects; and 2) maintain a strong balance sheet to acquire accretive precious metals assets.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.



For more information, please contact

Sabina Silver Corporation
Nicole Hoeller
Director, IR
1 888 648-4218
nhoeller@sabinasilver.com

Sabina Silver Announces Closing of Back River Transaction
Date : 06/10/2009 @ 9:00AM
Source : MarketWire
Stock : Sabina Silver Corporation (SBB)
Quote : 1.07 0.0 (0.00%) @ 7:49AM


Sabina Silver Announces Closing of Back River Transaction





VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/10/09 -- Sabina Silver Corporation (the "Company") (TSX VENTURE: SBB) announced today that the previously announced Back River asset purchase from Dundee Precious Metals ("DPM") has been completed.




"I am happy to report on the closing of what I believe is a great value creating transaction for Sabina shareholders," said Tony Walsh, President & CEO. "The Back River assets present significant exploration opportunities and we are excited to get working on the property. Currently, we are gearing up to start drilling on Goose Lake in mid-July and are finalizing plans for work on the Wishbone properties."



Pursuant to the transaction, in exchange for the Back River Project, the Company issued:



- Cdn$7 million in cash;



- 17,000,000 Sabina common shares;



- 5,000,000 Class A Unit Warrants; and



- 5,000,000 Class B Unit Warrants



Each of the Unit Warrants ("Units") is exercisable for one common share and one-half of one common share purchase warrant ("Warrant") of Sabina. The Class A Unit Warrants will be automatically exercised upon a decision to proceed to a feasibility study or proceed to production on the Back River project and in certain other events. The Class B Unit Warrants will be automatically exercised upon a positive production decision with respect to the project. Each whole Warrant, if issued, will be exercisable for five years from the date of closing, to purchase one Sabina common share at a price of Cdn$1.07 per Sabina common share.





As a result of the transaction, without giving effect to the exercise of the Special Warrants, DPM holds 18.8% of Sabina's outstanding common shares.




In conjunction with the transaction, David Fennell and Jonathan Goodman have been appointed to the Board of Directors.




Work Planned on the Back River Projects



The Back River Assets consist of two main components, the original Back River property hosting the George and Goose Lake gold deposits and a recent new project area, the Wishbone Project. The Back River gold deposits contain a resource of 1.19 million indicated ounces of gold and 1.16 million inferred ounces of gold at an average grade of 10 grams per tonne and are proximal to Hackett River, with George Lake being approximately 40 km to the south east. The Wishbone property covers a large portion of the Hackett River Greenstone Belt and hosts Sabina's Hackett River Project as well as other smaller base and precious metal deposits. The combined properties total approximately 3,000 square km and cover a largely unexplored highly prospective greenstone belt.




Back River Exploration



Work at Back River will focus on the Goose Lake deposit which currently hosts 603,000 indicated ounces of gold at 11.9 g/t and 295,000 inferred ounces at 9.2 g/t.




Management has identified Goose Lake as the immediate exploration target. The current resource lies within a thick folded iron formation with a shallow plunging fold hinge. This makes Goose Lake deposit a favourable target for open pit development.




The Goose camp was opened earlier this winter and a resupply program of fuel and drilling supplies was completed to support a two drill program this summer.




The exploration objectives for the Back River project in 2009 can be summarized as follows:



- To conduct a short IP or ground based geological survey to better define the target locations and orientations prior to diamond drilling.




- To conduct a total of 5000 to 6000 metres of diamond drilling at the Goose Lake deposit, focusing on priority targets outside the current deposit area.




- A budget of $3.23 million has been planned for Goose Lake target drilling.




The drill targets identified include the following:



The Goose Neck target is located 1.9 km west of the Goose Lake deposit. This target consists of a strong geochemical anomaly, and the geophysical signature indicates the presence of thick folded iron formation. A single historical diamond drill hole (93GO-037) returned assays of 4m grading 5.73 g/t au.




The Washout is a priority target and is located approximately 1 km west of the Goose Lake deposit. Geologically this target consists of a broad folded section of demagnetized iron formation which is near a large felsic intrusive. It is interpreted that the large intrusive acted as a heat source and hydrothermal fluids have altered the iron formation significantly thereby creating potential for gold deposition in this large area. A ground induced polarization survey will be completed to refine the 2009 diamond drill targets.




The Llama/Jackaroo area is located approximately 6 kilometers northwest of the Goose deposit and consists of an area of complex folded iron formation units that have been cut by felsic intrusive units. There is no previous drilling in the key target area. Prospecting and detailed mapping will be completed prior to drill testing.




Wishbone



An initial budget of $750,000 has been set for the summer exploration program for the Wishbone project to explore for both gold deposits and base metal rich volcanic massive sulphide (VMS) deposits. The Wishbone project covers a VMS district-scale land package over the highly prospective extension of the Hackett River Greenstone belt outside of the main Hackett River deposit area. It has received minimal historical exploration work and hosts two other VMS deposits; Savant Exploration's Yava and Xstrata's Musk VMS deposits. In 2008, a 12,350 line km VTEM survey was completed by DPM over the southern portion of the property. This survey successfully defined at least 200 prospective EM anomalies. Work will focus on following-up these anomalies and will include 1,200 m of diamond drilling. The initial priority will be given to gold and VMS targets that are proximal to Hackett River to best impact possible synergies with Hackett. In addition, an evaluation will begin on the large block of claims to the north of Hackett River where favourable hydrothermal alteration has been previously identified in regional mapping.




Quality Assurance



Mineral resources for Goose Lake and George Lake were generated by RSG Global Consulting Pty Ltd (Coffey Mining) in September 2007, and are posted on www.sedar.com. Mr. John Wakeford, P.Geo. and a Qualified Person in accordance with NI 43-101 has reviewed the resources referred to above and has approved their dissemination.




SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc project in Nunavut and several projects in the Red Lake gold camp. The Company is well capitalized with approximately $40 million in cash and marketable securities at March 31, 2009. The strategy to grow the company focuses on two mandates: 1) to continue to focus on enormous exploration and development potential of the Hackett River silver-zinc and Back River gold projects; and 2) maintain a strong balance sheet to acquire accretive precious metals assets.




Forward Looking Statements



Statements relating to the Back River Acquisition and the expected results of this transaction 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 and information concerning mineral resource estimates 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 gold 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; uncertainties involved in the estimation of metal reserves and resources; the possibility that required permits may not be obtained in a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; 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, 2008.




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 Silver Corporation.




Tony Walsh, President and CEO



To view the map accompanying this release please click on the following link: http://media3.marketwire.com/docs/0610sbb.jpg


Contacts:

Sabina Silver Corporation

Nicole Hoeller

Director, IR

1 888 648-4218

nhoeller@sabinasilver.com

www.sabinasilver.com

IBOX edit finished so far..

SABINA SILVER’S BACK RIVER ACQUISITION APPROVED AT AGM
VANCOUVER – Sabina Silver Corporation (the “Company”) (SBB – TSX.V) reported today the results of the Company’s Annual General and Special Meeting of the Shareholders (“AGM”).
“I am happy to report that our shareholders voted overwhelmingly in favour of the Back River acquisition from Dundee Precious Metals,” said Tony Walsh, President & CEO “Also, we are very encouraged by the same shareholder support for the Director nominees.”
Sabina’s AGM was held today at the Metropolitan Hotel in Vancouver. At the meeting, Mr. Roy Wilkes, Mr. John Whitton, Mr. Terry Eyton, Mr. Scott Hean, Mr. Jim Morton and Mr. Tony Walsh were elected to the Board of Directors for the 2009/2010 year. KPMG LLP was appointed as the Company’s auditors, and shareholders also approved the Company’s Stock Option Plan.
In the Board Meeting following the AGM, Mr. Roy Wilkes was appointed Chairman of the Board and Mr. Jonathan Goodman, President & CEO of Dundee Precious Metals and David Fennell were appointed to the board as DPM’s nominees following the favourable results of the shareholder’s vote on the Back River acquisition.
The shareholders voted in favour of the issuance of securities (described below) for the acquisition of the Back River assets by way of special resolution on the agenda for the meeting, Over 90% of the ballots cast on the resolution were in favour of the transaction. The transaction was announced on March 30, 2009 and was the culmination of work done in 2008 to fulfill the corporate strategy to acquire accretive, synergistic precious metals assets in Canada.
The Back River Assets consist of two main components, the original Back River property hosting the George and Goose Lake gold deposits and a recent new project area, the Wishbone Project. The Back River gold deposits are proximal to Hackett River, with George Lake being approximately 40 km to the south east. The Wishbone property covers a large portion of the Hackett River Greenstone Belt and hosts Sabina’s Hackett River Project as well as other smaller base and precious metal deposits. The combined properties total approximately 3,000 square km and cover a largely unexplored highly prospective greenstone belt.
This transaction is accretive to Sabina as it:
•
adds 1.19 million indicated ounces of gold and 1.16 million inferred ounces of gold all in high grade deposits nearby to Sabina’s existing resource containing 200.5 million of indicated ounces of silver and 64 million inferred ounces of silver making Sabina a significant precious metals company;
•
allows the projects to spread cost of infrastructure over a larger higher value resource base providing synergies and economic advantages for both projects;
•
provides significant exploration potential to create leverage as projects advance;
•
creates a district exploration play in a pro-mining jurisdiction – years of exploration and potential mill feed;
•
positions Hackett as a future regional Mine and Mill centre – potential to incrementally increase through put through other sources in the region; and
•
fits with managements northern technical and permitting experience
To acquire the Back River Assets, Sabina will issue to DPM, in three tranches, upon closing, $7 million in cash and 17 million shares. Upon a decision of the Board to proceed to a Feasibility Study or production, Sabina will issue a further 5 million common shares and 2.5 million purchase warrants (tranche 2). Upon a decision of the Board to proceed to Production Sabina will issue a further 5 million common shares and 2.5 million purchase warrants (tranche 3).
The transaction is subject to the completion of relating ancillary documents and other terms and conditions and is scheduled to close on or about June 9, 2009.
The Board of Directors wish to express their appreciation to Sabina shareholders for continued support and confidence and look forward to an exciting year.
Quality Assurance
The mineral resource estimate for Hackett River has been prepared by Mr. Albert Chong, P.Geo., Senior Geologist of AMEC Americas Limited and is posted on www.sedar.com. Mr. Chong is a qualified person as defined by National Instrument 43-101. CIM Definition Standards (2005) have been used in defining the mineral resource categories.
Mineral resources for Goose Lake and George Lake were generated by RSG Global Consulting Pty Ltd (Coffey Mining) in September 2007, and are posted on www.sedar.com.Mr. John Wakeford, P.Geo. and a Qualified Person in accordance with NI 43-101 has reviewed the resources referred to above and attached and has approved their dissemination.
SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc project in Nunavut and several projects in the Red Lake gold camp. The Company is well capitalized with approximately $40 million in cash and marketable securities at December 31, 2008. The strategy to grow the company focuses on two mandates: 1) to continue to focus on enormous exploration and development potential of Hackett River Silver-Zinc project; and 2) Maintain strong balance sheet to acquire accretive precious metals assets
For further information please contact:
Nicole Hoeller, Director, IR: 1 888 648-4218
nhoeller@sabinasilver.com
Forward Looking Statements
Statements relating to the Back River Acquisition and the expected results of this transaction 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 and information concerning mineral resource estimates 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 gold 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; uncertainties involved in the estimation of metal reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; 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, 2008.
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 Silver Corporation
Tony Walsh, President and CEO
930 West 1st Street, suite 202
North Vancouver, BC V7P 3N4
Tel 1 888 648-4218
http://www.sabinasilver.com

June 5, 2009
SBB NR-09-07
SBB – TSX.V
SABINA SILVER’S BACK RIVER ACQUISITION APPROVED AT AGM

http://www.sabinasilver.com/documents/press-jun5-2009-AGM_Back_River_Aquisition_Approval.pdf

http://www.sabinasilver.com/

Longterm Uptrend here