RE:RE:RE:RE:buyout.SBB | February 22, 2019 VANCOUVER, British Columbia, Feb. 22, 2019 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp (SBB.T), (Sabina or the Company) is pleased to announce budget plans and activities for 2019. Sabina is advancing its high grade, permitted project towards a production decision with measured initiatives within the Companys financial resources. The 2019 budget enables the Company to continue its two-pronged approach: completing project development activities that continue to reduce execution risk as well as continuing high value exploration. The 2019 budget totals approximately $41 million in expenditures, including certain discretionary expenditures of $6-8 million for earthworks programs at Goose. The discretionary spending will be assessed during the year and depending on prevailing market sentiment could be deferred resulting in a larger cash balance at the end of 2019. The 2019 budget delivers: 1.Additional de-risking of mine construction by completion of: a.Winter-ice-road construction and haulage of materials to Goose site from the port facility at Bathurst Inlet. b.Detailed selection of process plant equipment and the major vendors suppliers. c.Development of an engineering, procurement, and construction (EPC) contract for the process plant, including fixed pricing and performance guarantee. The EPC contract provides greater certainty of costs and schedule than the method of delivery proposed in the feasibility study. d.Goose site construction, including earthworks to prepare the process plant site, pads and access roads e.Detailed engineering to support initial mine development, bulk earthworks, process plant and tailings storage facility construction and completion of issued-for-construction drawings f.Procurement of the process plant major equipment certified drawings and ~1.0 million litres of fuel for 2019 and some initial 2020 activities g.A sea-lift of construction equipment to be delivered to the Port facility in the summer of 2019 2.An exploration program of ~8,000 metres commencing in the spring, focused on Nuvuyak, Hook and other targets primarily at Goose 3.Advancement of remaining minor licenses and authorizations. 2019 will be another significant year for the Company as our work programs continue to advance Back River towards a production decision and focus on high value exploration targets at the Goose property, said Bruce McLeod, President & CEO. Through our project development activities, we continue to demonstrate the constructability and improve the logistics and infrastructure of the Project while delivering better confidence in capital costs through the delivery of an EPC contract. Additionally, we will continue to focus on drill targets at the Goose property that present opportunities for extended mine life and/or improved Project economics. This work continues to unlock a much larger picture in terms of resource and district potential and the potential of Back River to be a multi-generational mining district. With regard to project financing, the Company has advanced negotiations for a debt package for the Project and believes that the debt component could be completed on favourable terms. Equity is not currently available on acceptable terms as it would result in unacceptable dilution of the value of the Project to our shareholders. Without equity funding in place, the Company will continue to move forward within our existing financial resources and first gold production will be delayed to Q4 2022. Ultimately, we believe that the de-risking and other activities planned for 2019 will reduce execution risk which will result in a better financing package for the Project.