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Corona Gold Acquires Position in Sabina Gold & Silver

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  Published in Business and Finance on Wednesday, December 23rd 2009 at 6:10 GMT by Market Wire
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TORONTO, CANADA--(Marketwire - Dec. 23, 2009) - Corona Gold Corporation (the "Company") (TSX:CRG) announces that it has subscribed for 1,574,804 "flow-through" common shares of Sabina Gold & Silver Corp. ("Sabina") (SBB-TSX) by way of private placement, at a price of $1.27 per share. The Sabina shares were acquired for investment purposes and holdings in Sabina may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.

Sabina is a Canadian public mineral exploration and development company. Key assets include the Hackett River silver project, the Back River gold project and the Wishbone grassroots exploration project, all in Nunavut. Additionally, Sabina has several projects in the Red Lake gold camp.

The Company's investment in Sabina is consistent with its stated objective of maximizing the value of its existing properties and exploring new resource-based exploration and investment initiatives.