ACTIVE Newman-Madsen, Red Lake Area, Ontario

ACTIVE

Newman-Madsen, Red Lake Area, Ontario

As of January 16, 2012, Sabina owns 100% of the Newman-Madsen project following the purchase of Premier Gold's 50% joint venture interest for a cash payment of $500,000 and a 0.5% net smelter return royalty on the property.

The Newman Madsen property is comprised of 46 patented mining claims located in the Red Lake Mining Division of Ontario, 3.5 km southwest of the town of Red Lake and 4.5 km northeast of Clause Resources Ltd's. Madsen Mine. Eight of these claims are currently under option to Mega Precious Metals ( East My Ritt Option).

2011 Exploration Summary: The Company completed 3,039 metres of drilling in 2011 on the property for total expenditures of $398,000. This drilling took place in early 2011 and focussed on exploring for mineralized structures within the mafic volcanics that underlie the western half of the property. No significant assay results were returned although a number of potentially mineralizing structures were defined. During the fall, geological mapping and prospecting took place to further evaluate the property in anticipation of a winter drill campaign in 2012.

2012 Newman Madsen Exploration Plans: A budget of $1.0 million has been allocated for exploration on Newman Madsen in 2012. This budget is designed to cover the cost of a 4,500 m drill program, a property wide magnetic and EM survey and field sampling. Work will initially focus on first pass drill testing of the Buffalo and Laverty trending structures where they cross out of the Dome Stock and into the favourable mafic/ulramafic Balmer age volcanics that underlie much of the property.


Nipigon, Ontario

In the fall of 2011, the Company staked 107 mineral claims covering over 25,000 ha in an area approximately 100 km north of Thunder Bay, Ontario. The Nipigon Project is 100% owned and is located along the same iron formation that hosts the Beardmore-Geraldton gold camp. There has been little exploration along this prospective trend that has produced over 4.5 million ounces of gold from four mines; the McLeod-Cockshut, Hard Rock and Mosher mines in Geraldton and the Leitch Mine in Beardmore.

The setting of these four deposits and the geology of the belt are identical to the Back River area which will allow Sabina to apply its extensive technical knowledge and exploration toolbox on the project. A 2,200 km VTEM survey is scheduled to be completed over the property in early 2012. A budget of $0.9 million for 2,000 meters of drilling is planned for 2012.


Cook Lake, Manitoba

Pursuant to an agreement made as of November 29, 2010, Sabina has an option to earn up to a 100% interest in the Cook Lake properties by having made an initial payment of $100,000 and by completing exploration work totalling $10 million over a five year period. The Cook Lake properties consist of 78 claims totalling 4,938 hectares located in the Snow Lake region of northern Manitoba adjacent to the north and west of the newly discovered Lalor deposit owned by HudBay Minerals Inc. Work commenced in January 2011 with line-cutting, ground EM and diamond drilling.

In early 2011, Sabina completed ground TEM and Titan 24 geophysical surveys and drilled a total of 2,713 m in 4 holes. The drilling and geophysics helped to define the location of the stratigraphy that hosts the Lalor deposit as it crosses onto the Cook Lake North property. A follow-up drill program to test high priority Titan 24 anomalies commenced in September, 2011 with an additional 3,229 m being completed for a total exploration expenditure of $2.9 million. In 2012, a budget of $1.9 million is planned including 6,500 meters of drilling.


CURRENTLY INACTIVE

Del Norte, Stewart Mining District, British Columbia

Sabina optioned the Del Norte property in September 2005. Following the 2007 exploration program Sabina earned a 50% interest in the property by spending $2.5 million on exploration over 4 years and made cash payments of $240,000. Sabina may, at its discretion, increase its interest to 65% by taking the project through a feasibility study. Lateegra Resources Corporation retains a 1% NSR on the property. Sabina's partner is Teuton Resources Corp.

The Del Norte property consists of a contiguous group of 20 claims situated in Stewart Mining Division, British Columbia. It is located approximately 30km east of the town of Stewart. The property is accessible by helicopter from Stewart. Logging roads extend to within approximately 12 km of the western boundary of the property. The property is located approximately 70km from Pretium Resources' Brucejack Project.

Drill results from the 2006 program included a 47m interval of 1.77 g/t gold including 32m of 2.52 g/t from hole SDN-06-02. The 2007 work program involved a 9 hole drill program to test the down-dip and strike extent of the "3 Oz" Vein system. The drill program tested the "3 Oz" Vein system over a strike length of approximately 175 m and over a vertical extent of approximately 300 m. Assay highlights from the drill program were 4.25 g/t Au over 3.90 m, including 6.75 g/t Au over 0.90 m from hole SDN-07-03. The highest silver value of the drill program was an isolated high value of 2,810 g/t Ag over 1.00 m, also from hole SDN-07-03. The step-out drilling revealed that the "3 Oz" Vein system thins and horsetails out along strike to the north and south. No work has been done on the property since 2008. A reconnaissance program is being contemplated to assess other exposed outcrop targets on the property revealed by ice recession.


Golden Sidewalk, Red Lake Area, Ontario

Sabina owns 100% of 18 leasehold patent claims, known as the Golden Sidewalk property, located in Skinner Township in the Red Lake Mining District of north-western Ontario. There are no royalties or carried interests attached to the Golden Sidewalk property. The Golden Sidewalk Property, hosting the past-producing Bathurst Mine, is located within the Birch-Uchi greenstone belt. Gold was discovered on the Golden Sidewalk property in 1926. The property produced high-grade gold specimens from several different locations during limited sporadic production from 1928 to 1937.

Among the more recent high grade discoveries is the "Joe Vein" first discovered in preliminary surface trenching work by Sabina in late 2004. Compilation of the current and historical data along with limited drilling was completed in 2006. Further reconnaissance work was undertaken in 2007, including surface mapping as well as inspection of old workings at the Bathurst Mine shaft. A drilling program of 2,472 meters in 23 core holes was completed in March 2008. Drilling intersected gold mineralization in the primary target "Bathurst Mine Horizon" and also discovered a second horizon with potential high-grade gold mineralization. The diamond drilling of the "Bathurst Mine Horizon" and the new "Upper Bathurst Mine Horizon" confirmed the presence of multiple gold bearing structures with further potential along strike and at depth. No work has been done on the property since 2010.


Skinner, Red Lake Area, Ontario

Sabina owns a 100% interest in 14 claims, covering 2,900 hectares, known as the Skinner property, located in the Red Lake Gold camp adjacent to and immediately south of the Golden Sidewalk property. Sabina optioned the property in June 2004 from Wolfden Resources Ltd. (now Premier Gold), which retained a 7.5% net profit interest capped at $450,000. Various third parties hold NSR royalties totaling 3% (1% of which can be purchased by Sabina for $1,200,000, and 1% of which is subject to a right of first refusal granted to Sabina).

Following compilation of historic data, geophysics, geochemistry, mapping and limited diamond drilling from 2005-2007, in 2008 drilling intersected a gold mineralized structure along the edge of an 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. These holes were successful in discovering gold mineralization in an east-west trending structure (the "Blind Zone") with gold mineralization occurring along a sheared contact between a gabbro sill and ultramafic unit. The 2009 drill program consisted of 10 holes totalling 2,045 meters and was completed in February 2009. No work has been done on the property since 2010.


Redaurum, Red Lake Area, Ontario

The Redaurum property is located within one of the major Red Lake deformation zones and in close proximity to the past producing Madsen Gold Mine. The Redaurum Property is underlain by several ultramafic rock units and extensive quartz carbonate veining, which are important features of Goldcorp's Campbell and Red Lake producing gold mines. Goldcorp is the operator (55%), with Claude Resources (25%) and Sabina (20%) holding the remaining interests.