Nasdaq GlobeNewswire

Sabina Gold & Silver Reaches Major Milestone to Advance Back River Gold Project with Positive Decision from Minister of Indigenous and Northern Affairs Canada

Del

 

VANCOUVER, British Columbia, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp. (TSX:SBB.T), ("Sabina" or the "Company") is pleased to announce that it has received a positive decision from the Minister of Indigenous and Northern Affairs Canada (the "Minister" or "INAC") that the Back River Project (the "Project" or "Back River") may move forward to the regulatory and licensing phase which would include completion of all necessary permits to commence mine construction. 

In July 2017, the Nunavut Impact Review Board ("NIRB") completed its review of the environmental assessment of the Project and recommended to the Minister that the Project should be given approval to obtain the required permits and licenses for mine construction and operation.  In a letter dated December 5, 2017, the Minister on behalf of the five responsible federal Ministers, accepted NIRB's recommendation. The NIRB will now work towards issuing a Project Certificate for Back River, which will attach the terms and conditions for mine development, construction, operation and eventual closure.

"This letter is a significant milestone event for the Back River Project and for Sabina as it is the most important decision in the permitting process," said Bruce McLeod, President & CEO.  "After a multi-year environmental assessment, we are extremely pleased that Back River now has the green light to move ahead to the final phase.  The issuance of a Project Certificate for Back River enables us to start preparing in earnest towards our goal of becoming a mid-tier gold producer in one of the world's best mining jurisdictions, and now enables us to formalize our budget and work plans for 2018.  In addition, the recent execution of a binding term sheet with the Kitikmeot Inuit Association has strengthened our relationship with our stakeholders and we look forward to creating a long-lasting legacy of environmental stewardship and sustainable economic development for the people of the Kitikmeot Region and Nunavut."

The Honourable Carolyn Bennett, Minister of INAC stated that "Sabina can now proceed to the regulatory phase of project development. The mining industry plays a key role in the development of Canada's North: helping with the transition to a wage economy, strengthening the capacity of northern people to participate in the mining sector, and contributing to community and infrastructure development. The growing prosperity of northern Canada is reliant upon vibrant and sustainable resource development and Sabina is now poised to play a significant contributing role in the Kitikmeot. The other responsible Ministers and I look forward to working closely with Sabina while ensuring that environmental protections are implemented and that the socioeconomic benefits of the project are fully realized."

Next Steps

The file is now with the NIRB who will be holding a workshop in the coming weeks to review terms and conditions for the Project Certificate, following which a Project Certificate would be issued in approximately 30-45 days.

In the interim, Sabina has submitted Type A and Type B water license applications to the Nunavut Water Board. The Type B water license will enable Sabina to commence initial activities to further de-risk the project, and is expected in Q1, 2018.  The Type A water license will enable full construction and operation and is expected by Q4, 2018.  We anticipate review of these applications to commence in the coming weeks.

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 has advanced through the environmental assessment process with a positive decision from the federal government received December 5, 2017.  The Project is now in the final regulatory and licensing phase.

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 the silver produced thereafter.

The Company had cash and equivalents of C$38.5m at September 30, 2017.

For further information please contact:

Nicole Hoeller, Vice-President, Communications:     1 888 648-4218
nhoeller@sabinagoldsilver.com

Forward Looking Information
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 of permitting and environmental assessment outcomes, and access to project funding. 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. Such factors and assumptions include, among others, the effects of general economic conditions, commodity prices, changing foreign exchange rates and actions by government and regulatory authorities and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources and reserves; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licenses and permits; environmental liability and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers or directors; the absence of dividends; currency fluctuations; labour disputes; competition; dilution; the volatility of our common share price and volume; future sales of shares by existing shareholders; and other risks and uncertainties, including those relating to the Back River Project and general risks associated with the mineral exploration and development industry described in our Annual Information Form, financial statements and MD&A for the fiscal period ended December 31, 2016 filed with the Canadian Securities Administrators and available at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 is authorized by the undersigned on behalf of Sabina Gold & Silver Corp.

Bruce McLeod, President & CEO
Suite 1800 - Two Bentall Centre
555 Burrard Street
Vancouver, BC V7X 1M9
Tel 604 998-4175     Fax 604 998-1051
http://www.sabinagoldsilver.com

 
 



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sabina Gold & Silver Corp. via Globenewswire

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

Olympus Labs Partners with Leading Korean Fintech Company Metaps Plus19.1.2018 00:03Pressemelding

Gibraltar, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Olympus Labs is quickly becoming an emerging global leader in the cryptocurrency-based financial product space, and on the heels of a successful token sale, Olympus is partnering with Seoul-based corporation Metaps Plus, a leading Korean fintech company and mobile marketing platform developer. This news comes shortly after the company announced OKEx, as its official exchange for the company's token MOT. "This is an amazing partnership for us, as it will allow us to hit the Korean market in a big way. We will be able to tap directly into the tens of millions of users on the Metaps Plus platform, allowing users to access financial products created by Olympus," said Kai Chen, CEO of Olympus Labs. "This is a key milestone as it demonstrates that Olympus products can be integrated in third party platforms such as mobile apps, wallets, exchanges, and even physical atms and pos systems, allowing users throughout the world access to Olympus products

Forward Industries Acquires Intelligent Product Solutions18.1.2018 23:54Pressemelding

WEST PALM BEACH, Fla. and HAUPPAUGE, N.Y., Jan. 18, 2018 (GLOBE NEWSWIRE) -- Forward Industries (NASDAQ:FORD) today announced the acquisition of Intelligent Product Solutions (IPS), an industry leading product design and development company based in Long Island, New York for a material consideration comprising of cash, equity, and contingent earn outs. IPS clients include leading brands in consumer electronics, medical devices, enterprise and security solution providers and Internet of Things connected solutions, including Google, Physio Control, PepsiCo, Motorola, ABInBev, Zebra and Charity Water. Commenting on the transaction, Terry Wise, CEO of Forward Industries remarked, "I am delighted and excited with the acquisition of IPS. The company is an excellent strategic fit for Forward Industries. Its expertise and strong track record in designing connected/IOT products and developing products such as the AdhereTech 'smart' pill bottle will significantly strengthen and contribute to For

VITEC to Highlight EZ TV IPTV and Digital Signage Platform in First ISE Appearance18.1.2018 21:06Pressemelding

PARIS, Jan. 18, 2018 (GLOBE NEWSWIRE) -- In its first-ever attendance at Integrated Systems Europe (ISE), VITEC, a worldwide leader in advanced video encoding and streaming solutions, will showcase EZ TV - a market-leading, broadcast-grade IPTV and digital signage platform with key installations in Europe and the U.S. Targeted to enterprises, sports stadiums and arenas, and government agencies, EZ TV combines low-latency, broadcast-quality IPTV distribution with powerful digital signage capabilities to give audiences a more engaging and interactive experience. "As Europe's largest show for AV systems integrators, ISE is the perfect forum for us to present our EZ TV IPTV platform," said Bruno Teissier, sales and marketing director, VITEC. "We're looking forward to showing ISE attendees how they can help their customers distribute broadcast-quality IPTV content and access powerful digital signage capabilities in an all-in-one, integrated solution." Designed to integrate seamlessly with a

Brookfield Asset Management Notice of 2017 Year End Results Conference Call and Webcast18.1.2018 16:12Pressemelding

Date: Thursday, February 15, 2018 Time: 11:00 a.m. (Eastern Time) BROOKFIELD, News, Jan. 18, 2018 (GLOBE NEWSWIRE) -- You are invited to participate in Brookfield Asset Management's 2017 Year End Results Conference Call & Webcast on Thursday, February 15, 2018 at 11:00 a.m. (Eastern Time) to discuss with members of senior management our results and current business initiatives. These results will be released on February 15th before 7:00 a.m. (Eastern Time) and will be available following the release on our website at www.brookfield.com "News - Press Releases." The Conference Call will also be Webcast live on our website, where it will be archived for future reference. To participate in the Conference Call, please dial 1-866-521-4909 toll free in North America, or for overseas calls please dial 1-647-427-2311 at approximately 10:50 a.m. The Conference Call will also be Webcast live at https://event.on24.com/wcc/r/1585364/9F53C4FB4A83FF2D32296C84535D6A34. For those unable to participate

LifeSci Advisors Continues Expansion of U.S. Investor Relations Team with Appointment of Industry Veteran Monique Kosse18.1.2018 14:30Pressemelding

NEW YORK, Jan. 18, 2018 (GLOBE NEWSWIRE) -- LifeSci Advisors, LLC (the "Company" or "LifeSci"), the leading international investor relations and corporate communications firm dedicated to the life sciences sector, today announced the appointment of Monique Kosse as Managing Director. Ms. Kosse will contribute to managing new and existing client relationships in the pharmaceutical, biotech, and medtech industries. Monique brings to LifeSci nearly 20 years of Wall Street experience. Her expertise includes roles as both a senior institutional investment analyst and as a trusted investor relations advisor. Before joining LifeSci, Monique was a founding partner at Access Capital Advisors, where she partnered with senior management teams to develop tailored IR strategies designed to best convey each client's value proposition to Wall Street. She and her partner thoughtfully crafted messaging, developed positioning, and targeted key investors. Prior to her career in investor relations, Moniqu

FutureWAN'18 Brings Industry Leaders Together for Global SD-WAN Summit18.1.2018 14:00Pressemelding

Amazon Web Services, IDC, Cisco and ServiceNow Among Featured Presenters SAN JOSE, Calif., Jan. 18, 2018 (GLOBE NEWSWIRE) -- The FutureWAN'18 Summit today announced keynote presenters and the full agenda for its four day virtual summit. The global SD-WAN summit will feature analysts, technology providers, enterprise IT users and service providers. FutureWAN'18 will share experiences and deliver comprehensive education on the major aspects of enterprise WAN problems. Running Jan. 23 through Jan 26, the virtual event will feature multiple tracks, including Cloud, Security, Enterprise SD-WAN (Operations) and Managed Services. SD-WAN's growth has created new and exciting growth opportunities for service providers and cloud players. The FutureWAN'18 summit will feature presentations by key players, including Verizon, BT, Orange Business Services and Amazon Web Services, among others, that are taking advantage of this new frontier. In addition, the summit will feature analyst presentations b

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom