VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2011) - Sabina Gold & Silver Corp. (the "Company") (News - Market indicators) is pleased to announce today that Mr. Rob Pease, P.Geo, has been appointed President & CEO of the Company effective November 14, 2011. Mr. Pease also joined as a director of Sabina's Board on October 24, 2011.

Mr. Pease has been involved with mineral exploration and mine development projects worldwide for the past 30 years. In 2006, Rob formed Terrane Metals with the intent to develop the Mt Milligan Gold-Copper project northwest of Prince George. Terrane advanced the project through exploration, development, and permitting. Construction commenced in the spring 2010, and ultimately Terrane Metals was acquired by Thompson Creek Mining in late 2010 for $700m. He is also a former Director and Strategic Advisor to Richfield Ventures Corp., a junior gold mining company exploring the newly discovered Blackwater gold project in British Columbia. Richfield was acquired earlier this year by New Gold Inc for $500m. Prior to becoming President and CEO of Terrane, Rob was employed by the Placer Dome group for the majority of his professional career. In 2002 he assumed the role of the General Manager, Canada Exploration and Global Major Projects with Placer Dome. In this role, Rob was responsible for managing all aspects of Canadian exploration, and overseeing the geological aspects of advanced stage, major exploration and development projects world-wide.

Mr. Pease holds a B.Sc. degree in Earth Science from the University of Waterloo, a Professional Geologist (British Columbia) certification and is a Fellow of the Geologic Association of Canada. Rob is a Past-Chairman of the Association for Mineral Exploration British Columbia, and in 2010 was named "BC Mining Person of the year" by the Mining Association of BC.

Rob replaces Tony Walsh, who announced his wish to retire to the Board earlier this year. Although he will be stepping down as CEO, Tony remains a strong supporter of the Company and a director of the Board.

"We are very pleased to welcome Rob Pease to the Company to lead us in our objective to become a mid-tier gold producer. Rob's experience in project exploration and development as well as on the capital markets side will be invaluable as we evolve," said Roy Wilkes, Chairman of the Board. "The Board also congratulates Tony Walsh on his retirement. He has accomplished amazing growth for Sabina in the short time he has been at the helm and has transformed this Company into an instrument of wealth creation for all of us. We are very excited about the future under Rob's capable leadership."

SABINA GOLD & SILVER CORP.

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

Sabina's primary properties consist of the Back River Gold Project as well as the Wishbone Claims, a vastly prospective grass roots project and the Hackett River poly metallic project all in Nunavut. The Company has announced the completion of the sale of Hackett River and certain claims in the Wishbone greenstone belt to Xstrata Zinc Canada Division (Xstrata) for which the Company received $50 m cash and a silver royalty on Xstrata's Hackett River silver production of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.

The Company expects to finish 2011 with approximately $150 million in the treasury with no debt.

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.

Tony Walsh, President & CEO