Jo Zone Hole SHR-08-40 reporting 284.3 g/t Ag, 5.4% Zn, 2.6% Cu, over 30.00 m including 756.8 g/t Ag and 13.88% Cu over 4.55 m

Hackett River Exploration Review Indicates Excellent Potential for the Discovery of Additional Resources

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/06/08 -- Sabina Silver Corp. (TSX VENTURE: SBB) is pleased to announce additional favourable results from the 2008 drilling at the recently defined Jo Zone at the Hackett River Project in Nunavut Canada. Also, following a recent trip to site by an independent consulting geologist with significant applied Volcanic Massive Sulphide (VMS) experience, opportunities for further exploration at Hackett River have been identified.

Hackett River is one of the largest undeveloped silver - zinc deposits of its type in the world with indicated open pit and underground mineable resources totalling 40.1 million tonnes grading 4.72% zinc, 147.9 gm/t silver, 0.34% copper, 0.58% lead and 0.33 gm/t gold and an additional inferred open pit and underground mineable resource totalling 8.8 million tonnes grading 3.89% zinc, 153.1 gm/t silver, 0.28% copper, 0.55% lead and 0.31 gm/t gold. These resources do not include Jo Zone mineralization. Hackett River's size has reached the critical mass needed to move the project towards development. The Project is now undergoing a pre-feasibility study as a result of a positive Preliminary Economic Assessment (PEA) by Wardrop Engineering announced in 2007.

Following Sabina's acquisition of Hackett River in 2004 most of the work completed has focused on resource delineation and engineering studies on the known deposits with only a small portion of the efforts directed toward the exploration potential of the property, with the exception of the work on the Jo Zone. In September 2008 a site visit was conducted with an independent consulting geologist with significant applied (VMS) experience. The purpose of the visit was to review existing data and comment on the exploration potential of the property, with emphasis on expanding existing deposits and to evaluate the potential for new discoveries. Emphasis was placed on the near surface potential as it would have the highest potential impact on project economics by enabling a higher development throughput.

"Significant new opportunities at Hackett River have presented themselves over the last few weeks," said Tony Walsh, President & CEO. "The recent visit to site to evaluate opportunities to grow the Hackett River Project has resulted in some very positive impressions about the potential for increased resources. In particular, we are intrigued by the high copper values being encountered near surface in the Jo Zone. Hole SHR08-40 noted above, returned 2.6% copper and 284.3 gm/t silver over 30.0 meters at a vertical depth of only 20 meters including 4.55 meters of 756.8 g/t Ag and 13.88% Cu. We are currently planning a work program to follow up on this development."

JO ZONE RESULTS

The Jo Zone is located only 250 meters southeast of the Main Zone and both zones are approximately 3 kilometres from the proposed Hackett River mill site as defined in the PEA.

Last year's drilling at the Jo Zone demonstrated a potential satellite deposit that should add to the overall ore tonnage at Hackett River. The Jo Zone mineralization has returned higher grade near surface intercepts with good continuity. Of particular interest is the definition of a higher grade copper rich zone which plunges toward the Main Zone mineralization. In 2008, the objective at the Jo Zone was to drill the deposit sufficiently so that its continuity can be determined and its resources included in future feasibility studies for the project.

2008 drilling and sampling has been completed. In 2008, 43 drill holes were completed at Hackett River, for a total of 5,325 m. Of these 26 were drilled for geotechnical purposes. The results of ten 2008 drill holes at the Jo Zone were reported in previous news releases. The following table comprises highlights of the remaining six Jo Zone holes. Assay summaries for the six new holes are appended to this news release.

Drilling continues to indicate an overall robust grade and the continuity of mineralization in the Jo Zone. This type of continuity in shallow depths offers potential open pit extraction, which could bolster the economics of the project. The Jo Zone is still open to depth and along strike to the southeast.

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Highlights Jo Zone Drilling
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Hackett River Project - Sabina Silver Corporation
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Jo Zone
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                  From     To  Interval     Zn     Ag     Cu     Pb     Au
Hole ID             (m)    (m)       (m)    (%)  (g/T)    (%)    (%)  (g/T)
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SHR-08-39        25.40  30.80      5.40  18.37  235.3   0.13   1.47   0.04
           incl. 26.90  29.30      2.40  40.29  483.8   0.20   3.23   0.06
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SHR-08-40        13.35  43.35     30.00   5.40  284.3   2.58   0.61   0.24
           incl. 13.35  30.60     17.25   6.96  235.1   0.22   0.91   0.18
            and  34.55  43.35      8.80   4.18  501.6   8.32   0.26   0.45
            and  38.80  43.35      4.55   3.93  756.8  13.88   0.04   0.68
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SHR-08-41        31.95  39.65      7.70  18.51  413.1   0.06   1.61   0.12
           incl. 33.85  38.35      4.50  31.48  486.8   0.06   2.49   0.07
            and  34.40  37.55      3.15  37.12  548.4   0.05   2.81   0.07
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SHR-08-42        27.05  39.60     12.55   4.78  379.5   0.27   1.47   0.37
            and  49.15  65.00     15.85   6.74  122.6   1.26   0.20   0.17
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Geological interpretation is ongoing and drill core widths reported above are estimated to be 78 to 98% of true widths.

EXPLORATION REVIEW GENERATES NEW OPPORTUNTIES

It has been noted that each significant phase of historical exploration done on the Hackett River Project has resulted in the discovery of significant new or additional resources indicating the potential for future additions to the resource base as well as the potential for new deposits in the Hackett River system.

Technical impressions resulting from the recent site visit have identified a number of showings and a significant number of untested geophysical targets that reside in highly productive stratigraphy. All of the currently defined deposits occur within a 5km by 4km block and they are spatially associated with the top of the volcanic cycle.

Impressions of the Jo Zone resulting from the recent site visit indicate opportunities to look for new resources. The primary mineralization at the Jo Zone consists of two sub-zones which are clearly zoned along the prospect's horizontal width with strong copper mineralization occurring along its western flank and moderate to strong zinc mineralization in the central portion of the zone. The near surface presence of significant copper mineralization could have an immediate impact on the resource and the future economics of the project development. In addition, the zone appears to plunge to the west where there is a reasonable possibility that it could join at some point with the eastern limb of the Main zone deposit. Further work is warranted to explore these opportunities at the Jo Zone.

Sabina continues to review its data to improve it's understanding of the internal facies changes, synvolcanic structural controls, metal zoning, alteration variables and other potential horizons that may occur in the stratigraphic footwall. There is evidence that these features exist within the productive block and it is imperative that further work be done to better understand these relationships.

Gold mineralization has been encountered on the western end of the property where structural complexity is highest. Further compilation and targeting is required to evaluate this mineralization to determine its impact on the project.

Compilation and analysis is underway to determine a follow-up exploration program.

SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc project in Nunavut, the Del Norte project in the Stewart-Eskay Creek Mining District and several projects in the Red Lake gold camp. The Company is well capitalized with $44 million in cash and marketable securities at June 30, 2008 with no debt. For further information on the Company, please see the corporate website at www.sabinasilver.com.

Quality Assurance

A system of sample standards, blanks and duplicates were inserted as part of the Company's QA/QC analytical stream processed at ALS Chemex's (Vancouver, BC) accredited laboratory. Mr. Harvey Klatt, M.Sc., P.Geo. and a Qualified Person in accordance with NI 43-101 has reviewed the drilling results referred to above and attached and has approved their dissemination.

Forward Looking Statements

Statements relating to exploration and pre-feasibility work at the Hackett River Project and Jo Zone 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 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 metal 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; 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, 2007.

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.

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

Tony Walsh, President & CEO

To view accompanying maps and table, please click on the following link: http://media3.marketwire.com/docs/SB...

Contacts:
Sabina Silver Corporation
Nicole Hoeller
Director, IR
(604) 648-4216
Email: nhoeller@sabinasilver.com
Website: www.sabinasilver.com