Sabina Gold & Silver Corporation - Red Lake - Red Lake

Golden Sidewalk - 2008 Property Update

The Golden Sidewalk and Skinner projects are adjacent projects, both are located approximately 70 km East Northeast of the town of Red Lake, Ontario. Both projects are located in the northwest quarter of Skinner Township, Kenora-Red Lake Mining Division, Ontario. The Golden Sidewalk project lies north of the Skinner project. The property hosts several mesothermal quartz vein hosted gold showings. The historic Bathurst Mine was developed on one of the veins. The Golden Sidewalk property consists of a contiguous group of 12 leased claims and 6 staked claims and is 100% owned by Sabina Silver Corp.

The property is underlain by pillowed, spherulitic, and massive mafic flows together with irregular and ill-defined areas of gabbro. These latter areas may represent coarser grained core regions of massive flows, or alternatively truly intrusive material. The metavolcanics are flanked on the west by trondhjemite of the Trout Lake Batholith, and locally by an ultramafic. metavolcanics and gabbroic rocks of the central and eastern parts of the property are cut by numerous felsite bodies, most of which clearly transect stratigraphy at about 090-120°. A second set exhibits an approximately north-south strike, roughly conformable to stratigraphy.

From November 2007 through March 2008 twenty-three holes, totalling 7,863 m, were drilled on the property. The holes tested the depth and strike extension of the historic Bathurst Mine Horizon. The program was intersected gold mineralization in the primary target Bathurst Mine Horizon and also discovered a second gold bearing mineralized horizon, including 45.96 g/t Au over 1.70 meters. Diamond drilling of the Bathurst Mine Horizon and the new Upper Bathurst Mine Horizon confirmed the presence of multiple gold bearing structures. Exploration potential exists along strike and at depth.

Skinner - 2008 Property Update

The Skinner and Golden Sidewalk projects are adjacent projects, both are located approximately 70 km ENE of the town of Red Lake, Ontario. Both projects are located in the northwest quarter of Skinner Township, Kenora-Red Lake Mining Division, Ontario. The Skinner project lies south of the Golden Sidewalk project. The property hosts several mesothermal quartz vein hosted gold showings.

The Skinner property consists of a contiguous group of 19 staked claims. Sabina holds 100% ownership subject to the following royalties and carried interests. Premier Gold Mines Ltd. holds a 7.5% net profit interest (capped at $450,000). Newmont Canada holds a 1% net smelter return royalty. A local prospector holds a 2% net smelter return interest (1% of which can be purchased by Sabina for $1,200,000, while the other 1% is subject to a right of first refusal granted to Sabina).

The claim group is underlain by rocks of the Balmer Assemblage in the extreme southern portion of the property and the Narrow Lake Assemblage in the remaining portion of the property. The property consists predominantly of massive to pillowed, locally variolitic basaltic komatiite to basaltic flows. Minor interbedded clastic to possibly cherty sediments have also been noted as minor metre-scale to ten's of metre-scale banded units within the massive and pillowed flows. These units have been extensively intruded by concordant to sub-concordant massive to weakly foliated gabbroic sills. Minor feldspar +/- quartz-phyric sills or dykes occur in the central and southern portions of the property. All units are generally ESE to east trending with facing directions indicating tops to the north. Calc-alkaline basaltic andesitic to rhyolitic fragmental units as well as minor tuffaceous siltstone and massive, fine to medium grained, locally moderately foliated and amphibolitized basaltic flows of the Balmer Assemblage occur in the extreme southern portion of the property.

A number of gold occurrences (Dunkin Prospect, Tie Line Showing, Vihonen Showing) are located on the property and generally these are spatially associated with the concordant to sub-concordant gabbroic sills.

Drilling in 2008 on the Skinner Property intersected a gold mineralized shear zone developed along the contact between a gabbro sill and an underlying ultramafic unit. The newly discovered ultramafic unit is located under an arm of Narrow Lake. At present, only two holes have tested the mineralized structure, both returning anomalous gold values, including 4.97 g/t over 0.75 m, 1.29 g/t over 0.70 m and 1.28 g/t over 0.30 meters . These two holes were successful in discovering gold mineralization in a broad east-west trending shear zone; now called the "Blind Zone". Gold mineralization is associated with up to 3% pyrite and arsenopyrite.

Golden Sidewalk - 2008 Property Update

Skinner - 2008 Property Update

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