Back River Gold Project

Back River is Sabina’s flagship project. The project is advanced, large, district scale, fully permitted with social license in hand.The project is in southwest Nunavut, Canada a tier one mining jurisdiction.At US$1650 gold (2021 Feasibility Study) the Project delivers a ~28%% IRR and $1.1 billion NPV.At 6g/t, these are the highest grade undeveloped open pits in the world.Pre-development construction has begun with the Project’s Port Facility and Winter Ice Road being completed. The Project is refreshing its debt process, is currently undergoing detail engineering and the Company is anticipating making a positive production decision this year pending project financing.