Sabina Gold & Silver Corp

Published : April 28th, 2014

Sabina Gold & Silver & Kitikmeot Inuit Association Announce Two New Agreements

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Sabina Gold & Silver & Kitikmeot Inuit Association Announce Two New Agreements

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 28, 2014) - Sabina Gold & Silver Corp (SBB.TO) ("Sabina" or the "Company") and the Kitikmeot Inuit Association ("KIA") are pleased to announce they have finalized the details of two important agreements which will continue to foster and build on a relationship of cooperation between the two organizations as we to continue to work together towards the responsible development of the Back River Gold Project ("Back River" or the "Project"). Earlier this year, agreements for the Development Trust and Capacity Funding were completed.

The KIA is the surface title holder of 104,278 Km2 of Inuit owned lands in the Kitikmeot Region, including the majority of the lands which comprise the Back River Gold Project. The KIA represents the interests of Inuit beneficiaries in the region under the Nunavut Land Claims Act ("NLCA") and is a participant in the environmental assessment process of Back River.

Charlie Evalik, President of the KIA acknowledged Sabina for its support of KIA's ambitions to create opportunities for the beneficiaries of the region. "The KIA is committed to principles of economic sustainability and environmental stewardship in respect of Back River. We view these agreements as important steps to establishing a cooperative long term relationship which is aligned with these principles. Sabina is a welcome participant in this process."

Development Trust Fund

In recognition of Inuit rights under the NLCA, Sabina and the KIA have finalized a Development Trust Fund Agreement ("Development Agreement") whereby Sabina will establish and contribute to the Development Trust (the "Trust") on behalf of the KIA.

The Trust will be established with an objective of contributing funding towards short and long term KIA development projects and initiatives including training and education as well as infrastructure projects that will serve to support sustainable economic development in the region.

"The development of the Trust is indicative of our investment in the economic sustainability and environmental stewardship of the Kitikmeot," said Rob Pease, President & CEO of Sabina "We view this Trust as a vehicle to cultivate long term relationships with the beneficiaries of the region, train our future employees and potentially support infrastructure needs and growth in the future. We are proud to be one of the first companies in Nunavut to create such a Trust."

The definitive form of the Development Agreement incorporates the following terms:

  • The Trust would receive 3% of Sabina's net proceeds from the silver royalty retained by Sabina on the Hackett River and Wishbone properties sold to Glencore Canada Plc ("Glencore"), formerly Xstrata Zinc Canada Ltd.
  • To kick off the initiative, prior to creation of the Trust, Sabina has paid approximately $1.4 million to an existing KIA fund which provides for development and community initiatives in the Kitikmeot Region.
  • Funds contributed to the Trust would be allocated by the Trustees to initiatives that provide benefits to the Kitikmeot region. A portion of the Trust funds would be retained for allocation after mine or project closure;
  • Payments can be made to the Trust in shares at Sabina's election (subject to regulatory approval);

Capacity Funding Agreement

As previously reported, environmental assessment and permitting processes for Back River are well underway. The Company is committed to working efficiently with the KIA through the process and recognizes that the KIA has an immediate need to increase its personnel capacity to respond to the technical review of the Project. To this end, Sabina and the KIA have finalized a Capacity Funding Agreement (the "Capacity Agreement").

Under the terms of the Capacity Agreement Sabina will fund the KIA based on an agreed work plan and budget for the environmental assessment and permitting processes. Funding will occur over an estimated period of three years ending in 2016, which is the anticipated completion of the permitting process. This funding will enable the KIA to establish stable, long term funding to enable the KIA to employ staff, retain certain technical specialists and to conduct such administrative and management functions as are required with the process.

KITIKMEOT INUIT ASSOCIATION

The Kitikmeot Inuit Association is a birthright development corporation representing and benefiting the Kitikmeot Inuit of Nunavut. Our mandate is "To represent the interests of Kitikmeot Inuit by protecting and promoting our social, cultural, political, environmental and economic well-being". With a population of 5,361 and significant potential for development and economic growth, our future holds great promise; the Kitikmeot Inuit Association will have an important role to play in securing this future.

Further information can be found on the KIA's website at http://www.kitia.ca.

SABINA GOLD & SILVER CORP.

Sabina Gold & Silver Corp. is an emerging gold developer with district scale, world class assets in one of the world's newest, most politically stable mining jurisdictions: Nunavut, Canada.

Sabina's primary assets, all located in Nunavut, consist of: the Back River Gold Project, currently in the pre-feasibility and permitting phase; the Wishbone Claims, a vastly prospective grass roots project; and the Hackett River Silver Royalty, a silver production royalty on Xstrata Zinc's Hackett River project comprising 22.5% of the first 190 million ounces produced and 12.5% of all the silver produced thereafter. The Company ended 2013 with approximately $58 million in cash and expect to end 2014 with approximately $36 million.

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.

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, of the Environmental Impact Study timing and receipt of necessary permits and project approvals for future operations 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 licences 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 the 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, 2013 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 has been authorized by the undersigned on behalf of Sabina Gold & Silver Corp.

Read the rest of the article at finance.yahoo.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
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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$ 348.8 millions as of today (US$ 281.8 millions, € 242.9 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.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Sabina Gold & Silver Corp
4/22/2010Sabina Silver Corp. Business Summary
4/21/2010Emerging Precious Metals Stock Analysis
Annual reports of Sabina Gold & Silver Corp
2007 Annual report
Financings of Sabina Gold & Silver Corp
3/1/2011Completes $97.5 Million Financing
Nominations of Sabina Gold & Silver Corp
10/24/2011Appoints Rob Pease as New President and CEO and Director of ...
4/6/2011Appoints John Wakeford to Board of Directors
Financials of Sabina Gold & Silver Corp
3/20/2015Announces Financial Results for the Year Ended 2014
8/9/2013Reports Q2 Financial Results
8/9/2013Reports Q2 Financial Results
4/2/2013Announces 2012 Year End Financial Results
11/9/2012Announces Q3 2012 Financial Results
8/14/2012Announces Q2 2012 Financial Results
5/14/2012Announces Q1, 2012 Financial Results
3/30/2012Announces 2011 Year End Financial Results
11/20/2008ANNOUNCES Q3FINANCIAL RESULTS
9/3/2008Q2 Financial Results
Project news of Sabina Gold & Silver Corp
10/13/2015Sabina Gold & Silver announces assays from Back River confir...
11/4/2013(Back River)Announces Positive Results From Echo Zone at Back River Proj...
10/22/2013(Back River)Announces Continued Positive Results from the Umwelt Deposit...
10/9/2013(Back River)Announces Positive Preliminary Feasibility Study on Back Riv...
8/22/2013(Back River)Announces Positive Results From the George Project at Back R...
7/24/2013(Back River)drills 18.6m of 19.27 g/t Gold at Back River
7/24/2013(Back River)Announces Positive Results from Umwelt Deposit at Back River...
7/4/2013(Back River)Announces Positive Results from George Property at Back Rive...
5/23/2013(Back River)Announces More Significant Assays From Llama Deposit at Back...
5/9/2013(Hackett River)Reports Glencore Xstrata Discloses New Hackett River Resourc...
4/30/2013(Back River)Announces First Results From 2013 Back River Drilling
2/14/2013(Back River)Announces Significant 2013 Back River Work Program
10/18/2012(Back River)Drilling Continues to Demonstrate Confidence at Back River P...
3/5/2012(Back River)Starts Drilling at Back River Gold Project, Nunavut Canada
2/14/2012(Back River)Mobilizes Back River Camps, Drilling Campaign to Commence Ea...
2/13/2012(Back River)Mobilizes Back River Camps, Drilling Campaign to Commence Ea...
1/12/2012(Back River)Completes Technical Report of Resource Estimate for Back Riv...
9/13/2011(Back River)Reports Continued Expansion at Umwelt & Llama Deposits, Back...
8/31/2011(Back River)Reports More Positive Results at Umwelt on the Back River Go...
8/25/2011(Back River)Reports Continued Positive Results at Back River and Wishbon...
7/22/2011(Back River)Reports Continued Positive Results at Back River Gold Projec...
6/28/2011(Back River - Goose Lake)Reports Umwelt Mineralization Now Extended Over a Strike Len...
5/31/2011(Back River)Announces Buy Back of the R.A. Olson Consulting Ltd. Royalti...
5/22/2011(Hackett River)Reports Positive Results from Early 2011 Drilling at the Hac...
4/27/2011(Back River)Reports Positive Results From Early 2011 Drilling at the Bac...
3/13/2011(Back River)Announces Updated Resource Estimate for Back River Gold Proj...
2/15/2011(Back River)Sabina Gold & Silver Files Updated Technical Report on Back ...
2/3/2011(Back River - Goose Lake)amp; Silver Opens Nunavut Camp for Aggressive 2011 Explorati...
9/15/2008(Hackett River)Hackett River Permitting Process Moves Forward
7/14/2008(Hackett River)Announces Interim Update on Corporate Initiatives on Hackett...
1/8/2008(Hackett River)Sabina drills 3.7 m of 40.28% Zn at Hacket River
Corporate news of Sabina Gold & Silver Corp
6/16/2016Sabina Gold & Silver Statement On The Nunavut Impact Review ...
6/10/2016Sabina Gold & Silver Announces AGM Voting Results
6/9/2016Sabina Gold & Silver Discovers New Gold Zone and Advanced Hi...
5/25/2016Sabina Gold & Silver Reports Encouraging Metallurgical Optim...
5/20/2016Sabina Closes $32 Million Bought Deal Financing: Enables Con...
5/2/2016Sabina Gold & Silver Corp. Announces C$30 Million Bought Dea...
3/31/2016Sabina Gold & Silver Announces Anna Stylianides Appointed To...
3/24/2016Sabina Gold & Silver Announces Financial Results for the Yea...
1/20/2016Sabina Gold & Silver announces 2016 Budget and Work Plans
11/25/2015Sabina Gold & Silver Corp Completes $2.2 Million Financing
10/13/2015Sabina Gold & Silver Announces Assays from Back River Confir...
9/14/2015Sabina Gold & Silver Announces Positive Initial Project Feas...
8/13/2015Sabina Gold & Silver Announces Q2 Financial Results
7/29/2015Sabina Gold & Silver Commences Feasibility Study Assessing L...
7/14/2015Sabina Completes $1.3 Million Financing
6/23/2015Sabina Gold & Silver Files NI 43-101 Technical Report for Fe...
6/18/2015Sabina Gold & Silver Announces John Wakeford Joins As Adviso...
2/4/2015Sabina Gold & Silver Reports Change in Management
1/12/2015Sabina Gold & Silver Reports On Important Back River Permitt...
1/12/2015Sabina Gold & Silver Reports on Important Back River Permitt...
11/14/2014SABINA GOLD & SILVER ANNOUNCES Q3 2014 FINANCIAL RESULTS $38...
11/14/2014Sabina Gold & Silver Announces Q3 2014 Financial Results
10/7/2014Sabina Gold & Silver Reports on Back River Feasibility Study...
8/7/2014Sabina Gold & Silver Announces Q2 2014 Financial Results
7/31/2014Sabina Gold & Silver Reports Completion of Drilling at Echo ...
6/25/2014Sabina Gold & Silver Completes Sale of Newman-Madsen, Ontari...
5/14/2014Sabina Gold & Silver Announces Q1 2014 Financial Results
5/13/2014Sabina Gold & Silver Announces Sale of Newman-Madsen, Ontari...
4/28/2014Sabina Gold & Silver & Kitikmeot Inuit Association Announce ...
4/22/2014Sabina Gold & Silver Reports Significant Estimated Improveme...
4/7/2014Sabina Gold & Silver Announces 2014 Back River Work Program ...
3/27/2014Sabina Gold & Silver Announces 2013 Year End Financial Resul...
3/13/2014Sabina Gold & Silver Reports Completion Of Hackett River 201...
3/12/2014Sabina Gold & Silver Reports Completion of Hackett River 201...
6/11/2013Completes $20.6 Million Financing
10/2/2012(Back River)Reports Drilling Confirms Thickness and Grade at Back River ...
9/17/2012(Back River)Announces New Shallow High Grade Discovery at Back River Pro...
8/9/2012(Back River)Announces High Grade Drill Results from Umwelt Deposit at th...
7/19/2012(Back River)Announces Continued Positive Drill Results From 2012 Drillin...
7/9/2012(Back River)Initiates Permitting Process at Back River Project, Nunavut;...
6/26/2012Completes $34.5 Million Financing
6/4/2012(Back River)Announces More Positive Drill Results from 2012 Drilling at ...
5/29/2012(Back River)Announces Positive Preliminary Economic Assessment at Back R...
4/26/2012(Back River)Announces High Grade Drill Results from 2012 Drilling at Lla...
1/23/2012Announces Aggressive 2012 Nunavut Work Program
10/4/2011to Set Up Development Trust for the Kitikmeot Region of Nuna...
9/20/2011(Back River)Reports Updated Resource Estimate for the Goose Deposit, Bac...
3/24/2011Announces Memorandum of Understanding With the Nunavut Resou...
11/3/2008New Address
8/26/200825 August 2008
8/21/2008ADDS TO ?NORTHERN? MANAGEMENT TEAM
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (SBB.TO)Other OTC (SBBFF)
1.56-1.89%0.760-2.56%
TORONTO
CA$ 1.56
10/15 17:00 -0.030
-1.89%
Prev close Open
1.59 1.57
Low High
1.56 1.61
Year l/h YTD var.
1.42 -  3.45 -52.58%
52 week l/h 52 week var.
1.42 -  3.45 -42.01%
Volume 1 month var.
266,736 1.30%
24hGold TrendPower© : 27
Produces
Develops Copper - Gold - Lead - Silver - Zinc
Explores for Gold - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2021-52.58%3.541.60
202070.47%3.380.71
201958.20%2.270.99
2018-46.26%2.351.13
2017131.63%2.700.93
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.34+0.07%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.55+1.19%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.25-1.52%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 1.16-3.33%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 1.03-1.90%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.04+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 4.27+1.67%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.78+4.86%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.44+6.02%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+2.78%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 3.04-2.88%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.10+0.80%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03-8.82%Trend Power :