VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 4, 2015) - Sabina Gold & Silver Corp. (the "Company") (News - Market indicators) reports changes to the Company's management team effective February 15, 2015.
In late 2014, Mr. Pease expressed to the Board of Directors of the Company that he wished to retire in 2015. Mr. Pease joined the Company in late 2011 and during his tenure has overseen the Company's transition from a junior explorer into an emerging gold developer.
Given Rob's desire to step down, the Board of Directors formed a search committee in late 2014 culminating in the appointment of Bruce McLeod to the role of President and CEO of Sabina effective February 15, 2015.
"We are very fortunate to have Bruce to lead the Sabina team as we move towards our goal of becoming a gold producer," said Roy Wilkes, Chairman of the Board. "His technical, operating and capital markets experience will be invaluable for the Company as we move forward and the Board of Directors and management team give him our full support."
"We wish Rob all the best in his retirement and express our appreciation for his dedication and commitment to the Company over the last three years. We are excited about what the future holds for Sabina and Back River as we continue to build shareholder value."
Bruce McLeod is a Mining Engineer with over 30 years of experience in all areas of the mining industry. Most recently he was the President & CEO of Mercator Minerals Ltd. Prior to that, he was the President, CEO and Director of Creston Moly Corp as well as a founder of both Sherwood Copper Corp and Stornoway Diamond Corporation. He also served on the Board of Directors of Palmerejo Silver and Gold Corp (acquired by Coeur D'Alene Mines) and Ariane Gold (acquired by Cambior Inc.) and has been involved in numerous projects at various stages of development while with the Northair Group.
Mr. McLeod was the co-recipient of AMEBC's EA Scholz Award for excellence in mine development in 2009 and primarily focuses on project development, strategic planning, and financing activities.
Once he assumes the role, Mr. McLeod will immerse himself in his mandate to continue to refine the Company's strategy, with a view to growth and opportunity, particularly in light of existing market conditions.
Mr. McLeod states, "I believe that Back River is a world class asset and by all accounts, our development team and consultants have been doing an excellent job in progressing the feasibility study and permitting efforts. Based on my due diligence of Back River, I am excited to be given the opportunity to become involved with a project that offers high grade gold resources in an excellent geo-political region as well as the high potential for new discoveries to come. Not only has the project evolved significantly over the last year, recent changes to currency and energy prices offer opportunities to also positively impact the project economics. My role is to ensure we have an optimal project and path forward and I am eager to work with the team."
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 feasibility and permitting phase; the Wishbone Claims, a vastly prospective grass roots project; and the Hackett River Silver Royalty, a silver production royalty on Glencore's Hackett River project comprising 22.5% of the first 190 million ounces produced and 12.5% of all the silver produced thereafter.
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. All technical reports have been filed on www.sedar.com
Forward Looking Statements
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 and timing of exploration programs and various studies including the FS and FEIS, the potential tonnage, grades and content of deposits, timing, establishment and extent of resources and reserves estimates, potential production from and viability of the Company's properties, production and operating costs and permitting submission, timing and receipt of necessary permits and project approvals for future operations and access to project funding as well as currency changes and energy prices. 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.
Roy Wilkes, Chairman of the Board of Directors
