February 3, 2011
Sabina Gold & Silver Opens Nunavut Camp for Aggressive 2011 Exploration Program
Goose Camp Open With Plans to Have Six Drill Rigs Turning by Mid-March
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2011) - Sabina Gold & Silver Corp. (TSX:SBB) is pleased to outline the objectives of its 2011exploration program and budget for its Nunavut projects. The Goose Camp is now open and being provisioned with drilling scheduled to commence in the next few weeks, approximately six weeks earlier than 2010. By the middle of March, six core drills will be operating at the Goose property with an additional two running at Hackett River by quarter end.
"We are very excited about the aggressive program that we have planned for 2011 to follow up on the tremendous success we had in 2010," said Tony Walsh, President & CEO. "While our resource calculations continue on the new Llama and Umwelt discoveries as well as the Goose deposit, our exploration team is ready to get started on our largest campaign ever. The 2011 program will focus on extending our new gold discoveries on the Goose claim block as well as applying our exploration tool box to look for new gold discoveries on the other Back River and Wishbone targets. Initial drilling should commence on or about March 1 at Goose. Once the Goose camp becomes operational, efforts will shift to opening the Hackett Camp."
Sabina ended 2010 with a solid cash position of approximately $83 million. In 2011, the Company plans to spend approximately $52 million on its exploration programs and G&A.