Sabina Gold & Silver Corp

Published : August 21st, 2008

ADDS TO ?NORTHERN? MANAGEMENT TEAM

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Keywords :   Canada | Gold | Gold Mines | Lead | London | Market | Silver | Zinc |

1066 West Hastings, 20th Floor

Vancouver, BC  V6E 3X2

Canada

SSC-logo

August 21, 2008

SBB NR-08-11

SBB ? TSX.V

 

SABINA SILVER ADDS TO ?NORTHERN? MANAGEMENT TEAM

 -New additions to skilled management team will move company forward-

 

Vancouver, BC ? Sabina Silver Corporation (SBB.V) is pleased to announce the addition of two new members to its management team.  Mr. John Wakeford, P.Geo and Ms. Elaine Bennett, C.G.A. will join Sabina in Vancouver, BC. 

Both Mr. Wakeford and Ms. Bennett were also part of the management team at Miramar Mining.  These new appointments along with the earlier appointments of Nicole Hoeller and Tony Walsh (respectively) allow the Company to centralize its executive operations in Vancouver and substantially reunite a management team with a proven successful track record in all areas and with considerable experience, relationships and knowledge of the Canadian north.  This experience, in combination with Sabina?s existing management, V.P. Exploration, Harvey Klatt and Hackett River Project Manager Don Parker, rounds out a team with the ability to move the Hackett River Project forward and seek other opportunities to create shareholder value.

Hackett River Project, Nunavut

Hackett River is a major deposit. ?With a global resource of 205 million ounces of silver and 4.3 billion pounds of zinc, Hackett stands as one of the largest undeveloped silver deposits in the world.? said Tony Walsh, President & CEO.  The deposit?s geological attributes are not Hackett River?s only appeal. It is located in Nunavut Territory, Canada, a jurisdiction with a modern, rigorous, yet achievable mine permitting environment. Nunavut recognizes that mining will play an important role in its plans to create infrastructure and economic sustainability in the region.  All of these factors enhance Sabina?s viability as an investment vehicle.

The Company is committed to the Hackett River project and to the relationships and partnerships it has created in Nunavut to date.  Sabina supports the territory?s plans for infrastructure, in particular the Bathurst Inlet Port and Road project as Hackett River operations will rely on a port and road.  Nunavut remains one of the most prospective mining jurisdictions in the world.

Corporate Development

 ?As Hackett River becomes a development project (as with any project in the industry) the considerable lead times required for feasibility work, permitting, financing and construction can have detrimental effects on a Company?s share price as the market waits out the evolution of the project. As a management team, we believe the best way to mitigate against depreciating recognition in the market is to create value and provide leverage within the company during this lead time. I believe that we can do that by acquiring another asset: one that would complement our advanced Hackett River project.  This year, we have done the essential work needed to push Hackett River and our other exploration projects forward, but have focussed on preserving our treasury.  The current market presents many affordable opportunities which combined with our excellent balance sheet, puts us in a very strong position.  Over the past two months, management has been proactive in communicating within the M&A community.  We have been and continue to be presented with proposals and ideas which we are now evaluating. Although the Company would prefer to focus in the Canadian North, we will consider opportunities in other politically stable jurisdictions.?

To this end, John Wakeford, P. Geo, has recently joined Sabina as the Senior Vice-President of Corporate Development.  John has more than 30 years in worldwide exploration with extensive experience in Archean greenstone deposits, including the Hemlo and Timmins gold camps. His experience includes fourteen years with Noranda, where, among other things, he played a key role in the discovery and evaluation of the Holloway gold deposit. On the creation of Hemlo Gold Mines, Mr. Wakeford was appointed Director of International Exploration and led Hemlo's international gold exploration activities. Following the merger of Hemlo with Battle Mountain, he was appointed Director of Exploration, and eventually became responsible for Battle Mountain's exploration efforts. Most recently John was the Vice-President of Exploration at Miramar Mining during which time his experience and knowledge of Archean greenstone belts enabled the company to grow the Hope Bay resource to over 10 million ounces of gold. John?s key responsibility will be identifying and evaluating new targets for potential merger and acquisition activity for the company as well as overseeing all the exploration initiatives of the company.

Also, effective September 2, 2008, Ms. Elaine Bennett, C.G.A. will join as Sabina?s Vice-President, Finance and Chief Financial Officer.  Ms. Bennett brings 20 years of experience in the mining industry to the Company with her most recent position as Vice President and Controller with Miramar Mining Corporation until its recent takeover by Newmont Mining Corporation. Ms. Bennett serves as a director on the boards of other exploration companies and brings experience not only in accounting but in corporate transactions including mergers and equity financings as well as marketing. 

Mr. Duncan Caldwell has been a director of Sabina since 1998, Sabina?s Chief Financial Officer since 2005, and is located in London, Ontario, the Company?s current corporate head office.  Once Ms. Bennett joins the Company in September, she along with Mr. Caldwell, (who will step down as CFO once Ms. Bennett is up to speed), will spearhead the transition of all finance, accounting and reporting functions of the Company to Vancouver.  Mr. Caldwell will remain a Director on the board of Sabina.  Mr. Caldwell provides a high standard of service to the Company.  His contributions and efforts are and will continue to be greatly appreciated.

Hackett River Update and Drilling Results

The Company is currently compiling some initial drilling results from the Jo Zone which will be released shortly.

The Company plans to release an update on the Hackett River Project work and schedule at the beginning of September. 

It is hoped that these results and the optimization work being done will enhance the project?s economics.

SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc project in Nunavut, the Del Norte gold project in the Stewart-Eskay Creek Mining District and several projects in the Red Lake gold camp.

For further information please contact:

Nicole Hoeller, Director, IR:

1 888 648-4218

nhoeller@sabinasilver.com

 

Forward Looking Statements

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, should change.

This news release has been authorized by the undersigned on behalf of Sabina Silver Corporation

 

Anthony P. Walsh, President & CEO

1066 West Hastings St, 20th Floor

Vancouver, British Columbia, V6E 3X2

http://www.sabinasilver.com

 

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Sabina Gold & Silver Corp

DEVELOPMENT STAGE
CODE : SBB.TO
ISIN : CA7852461093
CUSIP : 785271 10 7
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Sabina is a gold and silver development stage company based in Canada.

Sabina develops gold, silver, copper, lead and zinc in Canada, and holds various exploration projects in Canada.

Its main asset in development is HACKETT RIVER in Canada and its main exploration properties are DEL NORTE, ROCKSTONE, GOLDEN SIDEWALK, SKINNER, BACK RIVER - GOOSE LAKE, BACK RIVER, BACK RIVER - GEORGE LAKE, NEWMAN-MADSEN and WISHBONE in Canada.

Sabina is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 328.7 millions as of today (US$ 256.6 millions, € 226.5 millions).

Its stock quote reached its lowest recent point on July 12, 2002 at CA$ 0.05, and its highest recent level on April 21, 2011 at CA$ 7.63.

Sabina has 223 580 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
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8/21/2008ADDS TO ?NORTHERN? MANAGEMENT TEAM
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TORONTO (SBB.TO)Other OTC (SBBFF)
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