GoldMinerPulse Report on Sabina Gold & Silver Corporation: (NI) 43-101 Metal Valuation Report

Sabina Gold & Silver Corporation (SBB)

Company Web Site: www.sabinasilver.com
This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2010-08-03. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.
External Links: Yahoo News and Quotes  |  Yahoo Message Board  |  StockCharts  |  Stockhouse  |  Canadian Insider Trading
GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02
Project/Deposit CC MVpSh PP% MI% I% Gold Silver Copper Lead Zinc
    Hackett River CA $81.75 0 77% 23% 507.25 K oz     237.46 M oz     191.08 K t     326.60 K t     2.38 M t
    Back River CA $19.45 0 51% 49% 2.36 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal Gold Silver Copper Lead Zinc
    Metal Totals 2.87 M oz     237.46 M oz     191.08 K t     326.60 K t     2.38 M t
    Metal Prices in US$ (from 2010-09-02) $1,251.30 per oz     $19.69 per oz     $3.46130 per lb     $0.96240 per lb     $0.94810 per lb
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below) $23.63     $30.76     $9.59     $4.56     $32.66
    Percentage of Total Metal Value 23.35%     30.40%     9.48%     4.50%     32.27%
    PP% | MI% | I% 0 | 55% | 45%     0 | 76% | 24%     0 | 80% | 20%     0 | 77% | 23%     0 | 76% | 24%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)    US$101.20
    Average Ore Value per Tonne    US$231
    Metal Value Leverage (MVL)    31.64
    Market Capitalization as % of Metal Value    3.2%
    Recent Stock Price    C$3.37   (TSX/TSXV close on 2010-09-02.)
Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count    152.00 M    ( See slide 28 of 32 in corporate presentation (viewed August 2010). )
    PP% | MI% | I%    0 | 72% | 28%
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade    123.9 g/t
    Market Capitalization
    per oz of Silver In Ground    $2.05   US$  |   2.16   C$
    Silver Eq Oz Estimate    781.23 M oz   ( 237.46 M oz are in ground)
    Market Capitalization
    per oz of Silver Equilavent    $0.62   US$  |   0.66   C$

See terms for more about GoldMinerPulse metrics.
GoldMinerPulse Coverage Status:
GoldMinerPulse coverage of Sabina Gold & Silver Corporation is complete pending a final internal review.

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold	Silver	Copper	Lead	Zinc
Hackett River	CA	$81.75	0	77%	23%	507.25 K oz	237.46 M oz	191.08 K t	326.60 K t	2.38 M t
Back River	CA	$19.45	0	51%	49%	2.36 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal	Gold	Silver	Copper	Lead	Zinc
Metal Totals	2.87 M oz	237.46 M oz	191.08 K t	326.60 K t	2.38 M t
Metal Prices in US$ (from 2010-09-02)	$1,251.30 per oz	$19.69 per oz	$3.46130 per lb	$0.96240 per lb	$0.94810 per lb
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)	$23.63	$30.76	$9.59	$4.56	$32.66
Percentage of Total Metal Value	23.35%	30.40%	9.48%	4.50%	32.27%
PP% \| MI% \| I%	0 \| 55% \| 45%	0 \| 76% \| 24%	0 \| 80% \| 20%	0 \| 77% \| 23%	0 \| 76% \| 24%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
Metal Value per Share (MVpSh)	US$101.20
Average Ore Value per Tonne	US$231
Metal Value Leverage (MVL)	31.64
Market Capitalization as % of Metal Value	3.2%
Recent Stock Price	C$3.37 (TSX/TSXV close on 2010-09-02.) Conversion rate used: 1 Cnd$ = 0.949244 US$ )
Fully Diluted Share Count	152.00 M ( See slide 28 of 32 in corporate presentation (viewed August 2010). )
PP% \| MI% \| I%	0 \| 72% \| 28%
Silver Metrics-- all Projects/Deposits
Average Silver Ore Grade	123.9 g/t
Market Capitalization per oz of Silver In Ground	$2.05 US$ \| 2.16 C$
Silver Eq Oz Estimate	781.23 M oz ( 237.46 M oz are in ground)
Market Capitalization per oz of Silver Equilavent	$0.62 US$ \| 0.66 C$

See terms for more about GoldMinerPulse metrics.

Back River - ^top^

(NI) 43-101 Report:

Title: Technical Report Back River Project, Nunavut Territory, Canada
Date: 2010-07-27 (139 pages)

Project Location: Nunavut, Canada

Map View: View the Black River project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $9.85 1.20 M oz 10.900 g/t 3.42 M t
Estimate notes: See Table 1.6_1 Back River Project – Mineral Resource Summary - July 2007 Ordinary Kriging Estimate - Cut 1m Gold Composites All Blocks Reported within 5g/t Au Lower Cutoff Grade Defined Interpretation on p. 10 of 139 in the NI 43-101 dated July 2010.
cutOffNotes

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$9.85	1.20 M oz	10.900 g/t	3.42 M t
Estimate notes: See Table 1.6_1 Back River Project – Mineral Resource Summary - July 2007 Ordinary Kriging Estimate - Cut 1m Gold Composites All Blocks Reported within 5g/t Au Lower Cutoff Grade Defined Interpretation on p. 10 of 139 in the NI 43-101 dated July 2010. cutOffNotes

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $9.60 1.17 M oz 10.200 g/t 3.56 M t
Estimate notes: See notes for Indicated.
cutOffNotes

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$9.60	1.17 M oz	10.200 g/t	3.56 M t
Estimate notes: See notes for Indicated. cutOffNotes

Hackett River - ^top^

(NI) 43-101 Report:

Title: Preliminary Economic Assessment Update NI 43-101 Technical Report Hackett River Project, Nunavut, Canada
Date: 2010-07-26 (389 pages)

Project Location: Nunavut, Canada

Map View: View the Hackett River Polymetallic project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $3.12    378.78 K oz     0.270 g/t     43.64 M t
   Silver $23.40    180.62 M oz     128.750 g/t     43.64 M t
   Copper $7.67    152.72 K t       3,500.000 g/t     43.64 M t
   Lead $3.53    253.08 K t       5,800.000 g/t     43.64 M t
   Zinc $24.90    1.81 M t       41,500.000 g/t     43.64 M t
Estimate notes: See Table 1-1: Hackett River Diluted Resource Summary on p. 24 of 389 in the NI 43-101 dated July 2010.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$3.12	378.78 K oz	0.270 g/t	43.64 M t
Silver	$23.40	180.62 M oz	128.750 g/t	43.64 M t
Copper	$7.67	152.72 K t	3,500.000 g/t	43.64 M t
Lead	$3.53	253.08 K t	5,800.000 g/t	43.64 M t
Zinc	$24.90	1.81 M t	41,500.000 g/t	43.64 M t
Estimate notes: See Table 1-1: Hackett River Diluted Resource Summary on p. 24 of 389 in the NI 43-101 dated July 2010.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $1.06    128.47 K oz     0.250 g/t     15.98 M t
   Silver $7.36    56.83 M oz     110.600 g/t     15.98 M t
   Copper $1.93    38.36 K t       2,400.000 g/t     15.98 M t
   Lead $1.03    73.52 K t       4,600.000 g/t     15.98 M t
   Zinc $7.76    564.20 K t       35,300.000 g/t     15.98 M t
Estimate notes: See Indicated note.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.06	128.47 K oz	0.250 g/t	15.98 M t
Silver	$7.36	56.83 M oz	110.600 g/t	15.98 M t
Copper	$1.93	38.36 K t	2,400.000 g/t	15.98 M t
Lead	$1.03	73.52 K t	4,600.000 g/t	15.98 M t
Zinc	$7.76	564.20 K t	35,300.000 g/t	15.98 M t
Estimate notes: See Indicated note.