Sabina signs landmark term sheet with Inuit Association

25 October: Sabina Gold & Silver (TSX:SBB) has signed a binding term sheet setting out the terms of a definitive Framework Agreement (FA) with the Kitikmeot Inuit Association (KIA), which owns 92,619 km2 of surface Inuit Owned Land over which parts of the Back River project footprint overlay.

The FA will allow Sabina access and rights for exploration and development work for the Back River project. The KIA will receive a 1% NSR royalty, 6.7 million Sabina shares, an initial investment of C$4 million in regional wealth creation initiatives, an annual payment of up to C$1 million to cover the cost of implementing the FA and an Inuit Impact and Benefits Agreement setting out commitments associated with Inuit employment, training and education and Kitikmeot business opportunities.

The FA, which will have a maximum term of 20 years, is expected to be finalised in early 2018.

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