Sabina Silver Commences 2008 Program at Hackett River: Work Continues on Resource Update and Pre-Feasibility Study: Overall Budget of $18.9M for 2008

SABINA SILVER CORP SBB

4/10/2008 8:45:28 AM

VANCOUVER, BC, Apr 10, 2008 (MARKET WIRE via COMTEX News Network) --

Sabina Silver Corporation (TSX-V: SBB) (PINKSHEETS: SBBFF) announced today that the 2008 work campaign has started at the Hackett River Project in Nunavut, Canada. Work also continues on compiling the Hackett River resource update and pre-feasibility work continues in full swing.

2008 Objectives

"Our camp is now open and we are busy working on our 2008 campaign at Hackett River," said Albert Brantley, President and CEO. "The main focus of the program will be to continue drilling to infill the existing resource for increased confidence and to obtain pre-feasibility geotechnical information required for civil and mine engineering planning support, as well as continuing base-line studies for inclusion in our Draft Environmental Impact Statement. However, we also plan to focus on the exploration potential at Hackett River and have incorporated significant efforts to follow up on the successes of 2007 and to determine future exploration targets."

The objectives of the work program at Hackett River for 2008 are:

a. Exploration drilling to continue to test the newly defined high grade Jo Zone

b. Continued infill /definition drilling on the three major deposits

c. Geotechnical drilling and field investigations for inclusion in the pre-feasibility and feasibility studies

d. Continued base line work for incorporation into a Draft Environmental Statement

e. Sampling and mapping work around the core property

The overall budget at Hackett River for 2008 is approximately $18.9 m which includes, among other activities, $8.3 million for drilling, Pre-Feasibility work of approximately $ 2 million and environmental baseline work of approximately $4 million.

Exploration

During 2007, preliminary drilling was completed at the Jo Zone, located approximately 4 km from the proposed Hackett River milling site, and 250 m from the Main Zone pit. Drilling completed during 2007 has suggested the potential for a fourth mineral deposit for the Project. Selected high-grade sub-intervals listed below indicate exceptionally high grade silver and zinc values encountered in the drilling. All intercepts were within 116 meters of surface.

-***-
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Hole #     Interval(m)   Zn(%)    Ag(g/t)    Cu(%)    Pb(%)    Au(g/t)
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SHR-07-56     3.25       24.40      389      0.44     1.57      0.10
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SHR-07-67     3.85       20.72      272      0.45     1.46      0.14
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SHR-07-58     3.70       40.28      553      0.06     3.18      0.13
----------------------------------------------------------------------
SHR-07-60     3.60       32.13      907      0.04     4.96      0.23
----------------------------------------------------------------------
-****-

The deepest hole, SHR-07-60, returned 12.25 m grading 0.08% Cu, 1.71%pb, 9.77% Zn 537 g/t Ag and 0.30 g/t Au starting from 115.70 m down the hole.

Locally values exceed 40% Zn and 1 kg/t Ag.

Approximately 3,000m of drilling in 2008 will focus on testing the extent of mineralization at the Jo Zone. The objective of the 2008 campaign is to sufficiently drill the Jo Zone so that it can be included in the Hackett River resource estimate in the final feasibility study.

"We are very excited about the potential of the Jo Zone to become a fourth deposit at Hackett River," said Harvey Klatt, Vice-President, Exploration. "With the significant grades encountered close to surface, the Jo Zone could potentially become another open pit providing opportunity to positively impact the economics of mining start-up at Hackett River."

Results on the Jo Zone drilling will be reported through the year as they become available.

Mapping and prospecting around the core portion of the property (from Anne Lake to the west, to Joe Lake in the east, and possibly the Watson and May prospects, see Figure 1) will also be undertaken in 2008. Approximately 1,500 m of drilling has been allocated to test these targets. Work will include structural mapping and geological mapping to update the property geology map, and work around any areas which will be impacted by proposed tailings, waste rock dumps, and other infrastructure, including roads. Sampling will include grab samples and soil sampling. In addition, a geophysical program will also be undertaken over several of these target areas.

Drilling Program

The primary focus for the 2008 drilling will be to further delineate/define the existing deposits at Hackett River and to test peripheral exploration targets. Approximately 5,500m of infill/definition drilling has been allocated for this purpose. Also, 1,300m of drilling for the installation of two thermistor holes is planned as well as approximately 750m for drilling on geotechnical holes.

Environmental Baseline Studies

Comprehensive environmental baseline studies will continue in 2008 for the Hackett River Project. Components included in the planned 2008 work include hydrology, meteorology, permafrost, water quality, sediment quality, aquatic biology, fisheries, wildlife, ecosystem mapping, vegetation, soils, and archaeology. Field studies will begin in late April, and will continue until October of 2008. Results from the 2008 fieldwork will be used to update a series of baseline reports, which will be used to support the preparation of a draft Environmental Impact Statement. Public consultation, traditional knowledge, land use, and socio-economic studies will also be on-going in 2008. The Project has entered the environmental assessment process with the Nunavut Impact Review Board (NIRB) and activities in 2008 will also include on-going correspondence with regulators for environmental permitting and support to see the Project through the NIRB process. It is also anticipated that negotiations with the Kitikmeot Inuit Association on an Impact and Benefits Agreement covering the Hackett River area and the Project development will commence during this year.

Figure 1 Hackett River Regional Geologic Map

To view the Hackett River Regional Geologic Map, please click on the link provided: http://www.usetdas.com/maps/sabina/sabinasilverhackettriver.pdf

Map hosted by Filing Services Canada Inc. website.

Resource Estimate Revision

The existing resource at Hackett River is made up of three deposits, the East Cleaver Zone, The Main Zone and The Boot Lake Zone.

The mineral resource for the Hackett River Project based on the Preliminary Economic Assessment (announced on March 5, 2007) is as indicated in the following table.

To view the Hackett River Mineral Resources table, please click on the link provided: http://www.usetdas.com/maps/sabina/sabinasilverhackettrivertable.pdf

Map hosted by Filing Services Canada Inc. website.

Work is currently in progress to compile results from the 2007 drilling into a revised resource. It was expected that this resource revision would be completed by the first quarter of 2008, however, due to personnel constraints, this estimate is now expected to be announced in the second quarter 2008.

Prefeasibility Update

As the result of a positive Preliminary Economic Assessment (PEA), announced in March 2007 and completed by Wardrop Engineering Inc. in accordance with National Instrument 43-101 guidelines, the Hackett River project is now undergoing a Prefeasibility Assessment. The PEA envisions Hackett River as being capable of achieving average annual production of 324.7 million pounds of zinc, 12.4 million ounces of silver, 20.7 million pounds of copper, 37.0 million pounds of lead and 17.2 thousand ounces of gold over a mine life of 13.6 years.

According to the PEA, a discounted cash flow analysis of the Hackett River Project achieves a pre-tax net present value of C$345 million at an 8% discount rate with a pre-tax internal rate of return of 20.6% and a payback period of approximately 3 years. For further information on the Preliminary Economic Assessment, please see the News release dated March 5, 2007 at www.sabinasilver.com.

The Hackett River Project Prefeasibility Study is in full swing and is expected to be announced during the fourth quarter of 2008.

Qualified Persons

Mr. Harvey Klatt, P.Geo., VP Exploration and Qualified Person under the terms of NI43-101, has reviewed the technical content of this press release and approved its dissemination.

The Preliminary Economic Assessment is based on a NI 43-101 compliant mineral resource estimate completed by Wardrop Engineering in November 2006.

The resource estimation and results of the Jo Zone were reviewed by Douglas Kim, P.Geo, Executive Project Manager for Sabina and a Qualified Person under NI 43-101.

SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc project in the Canadian Arctic, the Del Norte project in the Stewart-Eskay Creek Mining District and several projects in the Red Lake gold camp.

Sabina Silver Corporation is well financed with approximately C$47 in working capital as at March 31, 2008. Shares on issue at the same date were 66,669,634.

For further information please contact: Albert Brantley, President & CEO: 807-766-1799 Nicole Hoeller, Director, IR: 807-766-1799 nhoeller@sabinasilver.com

Forward-looking Statements

Statements relating to permitting, feasibility and exploration work at the Hackett River project and the expected results of this work are forward-looking statements within the meaning of securities legislation of certain Provinces in Canada. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the estimation of metal reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Sabina's operations and other risks and uncertainties, including those described in Sabina's Annual Report for the year ended December 31, 2006.

Forward-looking statements are based on the beliefs, estimates and opinions of Sabina's management on the date the statements are made. Sabina undertakes no obligation to update these forward-looking statements should management's beliefs, estimates or opinions, or other factors, should change.

SBB NR-08-05

This news release has been authorized by the undersigned on behalf of Sabina Silver Corporation.

Distributed by Filing Services Canada and retransmitted by Marketwire

Albert Brantley, President and CEO 1004 Alloy Drive Thunder Bay, ON P7B 6A5 Tel: (807) 766-1799 Fax: (807) 343-0232 http://www.sabinasilver.com Sabina Silver Corporation Tel: (807) 766-1799 Fax: (807) 343-0232 Email: Email Contact Web Site: www.sabinasilver.com

SOURCE: Sabina Silver Corporation

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