VANCOUVER, BRITISH COLUMBIA - June 23, 2017 (Investorideas.com Newswire) Sabina Gold & Silver Corp. ("Sabina") or (the "Company") (TSX:SBB) reports that the exhibits and transcripts from the final public hearings run by the Nunavut Impact Review Board ("NIRB") in relation to the Company's 100% owned Back River Project in Nunavut, Canada are now available on the NIRB website.
As part of the NIRB environmental assessment process, Sabina participated in final public hearings during May 31 - June 3 in Cambridge Bay, Nunavut. The hearings were comprised of two days of technical presentations and two days of community roundtable.
At the commencement of the hearings the Kitikmeot Inuit Association, the Government of Nunavut, and all federal regulatory departments had no outstanding technical issues with the project.
All seven Kitikmeot communities were represented at the community roundtable and in their closing statements all communities advised the NIRB that they wanted the project to proceed. In addition, the Kitikmeot Inuit Association confirmed in their closing statements that they believed the Project should proceed.
At the end of the hearings, the NIRB indicated that they will issue the Final Hearing Recommendation Report within 45 days, which is anticipated to be on or about July 18th, 2017.
The link to the transcripts can be found at www.nirb.ca on the public registry tab by searching Back River Project and clicking search documents.
Sabina Gold & Silver Corp
Sabina Gold & Silver Corp. is a well-financed, emerging precious metals company with district scale, world class undeveloped assets in one of the world's newest, politically stable mining jurisdictions: Nunavut, Canada.
In September, 2015, 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. At a US$1,150 gold price and a 0.80 exchange rate, the Study delivers a potential after tax internal rate of return of approximately 24.2% with an initial CAPEX of $415 million.
The Project is advancing through the environmental assessment process with final public hearings with the Nunavut Impact Review Board completed during May 31 - June 3, 2017 in Cambridge Bay.
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 cash and equivalents of C$43m at March 31, 2017.
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. All technical reports have been filed on www.sedar.com
Forward Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws (the "forward-looking statements"), including our belief as to the extent, results and timing of permitting submissions and decisions. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. This news release has been authorized by the undersigned on behalf of Sabina Gold & Silver Corp.
Bruce McLeod, President & CEO
375-555 Burrard Street, Two Bentall Centre
Vancouver, BC V7X 1M7
Tel 604 998-4175 Fax 604 998-1051
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