Subject: MISCELLANEOUS
Sabina Gold & Silver Files Amended and Restated Annual Information Form
VANCOUVER, British Columbia, May 24, 2019 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp. ("Sabina") or (the "Company") (SBB ? TSX/ SGSVF - OTCQX) reports that it has filed an amended and restated Annual Information Form (the "AIF") to include the requisite Audit Committee disclosure which had inadvertently been omitted from the original filing.
After review of the Company's materials for the Company's upcoming Annual General and Special Meeting of Shareholders (June 6, 2019), proxy advisors ISS and Glass Lewis recommended Withhold votes for members of the Audit Committee (ISS) and a Withhold vote for the Chairman of the Audit Committee (Glass Lewis) as the 2018 Auditor's fees had not been disclosed in the Company's AIF.
This was an inadvertent oversight on the part of the Company.
The amended AIF has been filed with the fees included as set out below:
External Auditor Service Fees (By Category)
- Set forth below are details of certain services billed to the Company by its external auditor in each of the last two fiscal years for audit services:
| Financial Year End | Audit Fees(1) | Audit-Related Fees | Tax Fees(2) | All Other Fees | ||
| 2018 | $155,325 | $nil | $39,781 | $nil | ||
| 2017 | $72,248 | $nil | $31,322 | $nil | ||
Notes:
- The increase in 2018 Audit Fees resulted from additional interim review fees and advisory services related to prospectus filings
- Tax compliance and general tax advisory services
The Company appreciates Glass Lewis and ISS for bringing this oversight to our attention.
SABINA GOLD & SILVER CORP
Sabina Gold & Silver Corp. is well-financed and is an emerging precious metals company with district scale, advanced, high grade gold assets in one of the world's newest, politically stable mining jurisdictions: Nunavut, Canada.
Sabina released a Feasibility Study on its 100% owned Back River Gold Project which presents a project that has been designed on a fit-for purpose basis, with the potential to produce ~200,000 ounces a year for ~11 years with a rapid payback of 2.9 years (see "Technical Report for the Initial Project Feasibility Study on the Back River Gold Property, Nunavut, Canada" dated October 28, 2015).
The Project received its final Project Certificate on December 19, 2017. The Project received its Type A Water License on November 14, 2018 and is now in receipt of all major authorizations for construction and operations.
In addition to Back River, Sabina also owns a significant silver royalty on Glencore's Hackett River Project. The silver royalty on Hackett River's silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all 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
For further information please contact:
Nicole Hoeller, Vice-President, Communications: 1 888 648-4218
[email protected]
This News Release has been Approved by
Bruce McLeod, President & CEO
1800-555 Burrard Street, Two Bentall Centre
Vancouver, BC V7X 1M9
Tel 604 998-4175 Fax 604 998-1051
http://www.sabinagoldsilver.com
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