Seabridge Gold Inc. (SA)

[Timothy Smith]

Seabridge Gold (NYSE:SA): Q2 EPS of -$0.03 beats by $0.01.

[Stockminder]

Financials 2015 Q2

http://seabridgegold.net/pdf/2015Q2FS.pdf

[Stockminder]

Seabridge Gold Pilot Plant Successfully Treats Selenium in KSM Water
Aug 04, 2015 08:00:00 (ET)

TORONTO, Aug. 4, 2015 /PRNewswire/ - Seabridge Gold announced today that it has successfully completed a pilot plant evaluation of a new process for the removal of selenium from waters from Seabridge's wholly-owned KSM Project located in northwestern BC. The pilot plant was constructed and operated by BioteQ Environmental Technologies, Inc. ("BioteQ") an independent Vancouver, BC based company, using their patent-pending Selen-IX(TM) treatment technology. In doing so, Seabridge satisfied a key condition of the BC Environmental Assessment Certificate issued on July 30, 2014 which required completion of the pilot plant test within one year of issuance of the certificate.

Seabridge Gold Chairman and CEO Rudi Fronk, stated that "successful completion of the pilot plant test achieves a further milestone in KSM's ongoing transition from exploration to development. The success of the pilot plant confirms the technical feasibility of the treatment technology that was proposed during the recently completed KSM environmental assessment review process. The results provide further evidence that KSM has been designed to operate in an environmentally responsible manner."

BioteQ President & CEO, David Kratochvil said "we are extremely pleased with the successful demonstration of our Selen IX(TM) treatment technology to reduce selenium concentrations to 1 ppb using water extracted from the KSM project site. The completion of this pilot plant further supports our business development efforts by emphasizing our commitment and capabilities in technology development in strategic areas of the overall mine water treatment market, including for those projects situated within BC."

Seabridge holds a 100% interest in several North American gold resource projects. The Company's principal assets are the KSM property located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada's Northwest Territories. For a breakdown of Seabridge's mineral reserves and resources by project and category please visit the Company's website at http://www.seabridgegold.net/resources.php.

All reserve and resource estimates reported by the Corporation were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding mineral reserves and resources of the Company and the potential economic benefits of the Project are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

ON BEHALF OF THE BOARD

"Rudi Fronk"

Chairman & CEO

[Stockminder]

Seabridge Gold Finds Extension of KSM's Mitchell Deposit at Depth

Seabridge Gold (NYSE:SA)
Today : Tuesday 28 July 2015

Drilling intersects 174 Meters of 0.55 g/T Gold and 0.28% Copper and 167 Meters of 0.81 g/T Gold and 0.25% Copper 350 Meters Down-Dip from Current Reserve Limit

TORONTO, July 28, 2015 /CNW/ - Seabridge Gold today announced that initial results from its 2015 core drilling program at its 100% owned KSM Project in northwestern British Columbia points towards a sizeable expansion of the Mitchell Deposit at depth. The size and orientation of the drill intercepts support the potential for an expansion of the cost-effective block cave operation planned for the reserves above these new intercepts. Hole M-15-130's 174 meters of 0.55 g/T gold and 0.28% copper is more than 200 meters to the southwest of M-15-131's 167 meters of 0.81 g/T gold and 0.25% copper; these results appear to represent a large, continuous zone amenable to block cave mining. (See www.seabridgegold.net/pdf/NJul28-15-maps.pdf)

In the past two years, Seabridge has successfully targeted higher grade zones beneath KSM's near-surface porphyry deposits, resulting in the discovery of Deep Kerr and the Iron Cap Lower Zone, two copper-rich deposits that have added nearly one billion tonnes of better grade to project resources. The program this year has continued this multi-year exploration effort to add higher grade zones by testing the down plunge extension of the Mitchell Deposit. The Mitchell Deposit is KSM's largest porphyry copper-gold system, containing proven and probable reserves of 1.4 billion tonnes grading 0.60 g/T Au and 0.16% Cu. In the central part of the deposit there is a zone of higher grade gold and copper; the down plunge projection of this central zone was the target for holes M-15-130 and 131. (For a detailed breakdown of KSM's proven and probable reserves please see the table at the end of this release)

Seabridge Chairman and CEO Rudi Fronk commented that "these initial results from Mitchell are very encouraging. The size and grade of the planned Mitchell block cave are likely to be enhanced by this data. Also, the mineralogy and textures from drill core suggest that we are approaching a zone of higher-temperature and fluid flow that may offer even better grades but there is evidence of faulting which needs to be analyzed before we undertake further drilling on this target. Although we are excited about where this discovery could lead, we have decided to scale back this year's Mitchell program by about $2.2 million until we have completed our analysis of all the available data. The balance of the program will concentrate on expanding the block cave shapes associated with the Deep Kerr deposit."

The first two holes in this year's program also encountered a copper zone higher up in the section which could convert waste to ore in Mitchell open pit scenarios which are planned to precede underground block caving. The holes were started well above and outside of the Mitchell Deposit reserve in order to test the deep projection of the central zone. Significant widths of copper mineralization were intersected above the Mitchell Thrust Fault in magnetite-rich intrusive and sedimentary rocks near the contact of an intrusion with intervals up to 192 meters wide grading 0.34% copper and 0.14 g/T gold. This style of copper-rich material has been encountered in previous drilling in this vicinity. "We will evaluate the potential of incorporating these zones into the Mitchell resource," Fronk said. "If we are able to convert in-pit waste to ore, it could have a positive impact on Mitchell economics."

Below the Mitchell Thrust Fault, where the Mitchell reserves and resources are located, the holes encountered identical sections of altered intrusive rocks that are recognized as host to parts of the Mitchell Deposit. The intrusion is pervasively hydrothermally altered and contains abundant stock work quartz veins. Alteration increases systematically down hole, progressing through intense quartz-sericite-pyrite and into chlorite-magnetite-orthoclase alteration. The intervals encountered in holes M-15-130 and 131 represent a distinctive intrusive body containing gold and copper grades above the Mitchell Deposit average.

The following table summarizes the drill hole intersections for the plunge projection of Lower Mitchell. In drill hole M-15-130, the Mitchell Thrust Fault is located at 601 meters and in M-15-131 it is at 691 meters....

[Stockminder]

I heard and did buy.

[NATTER]

No 1 hear to me - as I wrote - BUY.

[NATTER]

Time to BUY. Slowly, piece after piece - all under 5,85 USD. My target SA 2015 not under 9,50 USD. Gold 2015 - 1500 USD.

[NATTER]

5,85 sooon, by gold near of 1100 USD. Under 1000 we will see 4,50 and this will be desaster for long time.Good luck.

[Stockminder]

Long wait for news that appears positive. PPS decline seems unwarranted.

[goforthebet]

Seabridge Gold's KSM Project Receives Positive Federal EA Decision

Date : 12/22/2014 @ 8:00AM

http://ih.advfn.com/p.php?pid=nmona&article=64882056

[grantg2]

Not much risk in gold or gold stocks because the PIPER WILL BE PAID!

Sometimes he has a delayed payment, BUT HE DOES GET PAID!

And the US gubment has TRIPLED THE NATIONAL DEBT in the last EIGHT YEARS!

THOSE CHICKENS will COME HOME to roost one day!

[JTlive]

It doesn't get much better than this from a share pricing perspective. Price of gold went down because of the jobs report which strengthened the US dollar. This is a great entry point for anyone who wants to play gold mining stocks. It may dip a little more for even a better entry point but when gold turns around and heads north again (which it inevitably will) SA should triple. The other play I really like is AKG as they should be producing 400,000oz of gold staring in early 2016. Both SA and AKG are great buys and will go up significantly if gold can rebound to $1,300 again within the next 6 months. There's always risk with any gold mining stocks but the rewards can be huge if you get in at the right time!

[steamed_turtle]

Any word when the final approval could be expected on the KSM project?

[goforthebet]

Drilling Confirms Major Gold-Copper Discovery Beneath KSM's Iron Cap Deposit

http://ih.advfn.com/p.php?pid=nmona&article=63456900

[moxy7]

Watching closely!!$$

[goforthebet]

SA Seabridge Gold Files Second Quarter Report to Shareholders and its Financial Statements and MD&A

http://ih.advfn.com/p.php?pid=nmona&article=63251257

[goforthebet]

that is funny, I bought before and was lucky :) thanks

[gharma]

it was some nice and awaited news released yesterday

[goforthebet]

true, but the price made a nice move in the afternoon :)

[gharma]

very quiet board here

[goforthebet]

anybody home here?? got in today...

http://247wallst.com/commodities-metals/2014/07/30/analysts-four-gold-miner-takeover-targets-may-include-a-gigantic-winner/2/

[suberizedwrx]

I think tomorrow is the day to scale in for this one.

[suberizedwrx]

Technically this stock looks like it's setting up to reverse in the next 3-6 months if not sooner.

[Anatola]

sad

[T.I.N.A.]

got some this morning @ about 7.1 so far so good....

[TRAPPER JIM]

The Nevada Division of Environmental Protection (Division) has decided to issue Reclamation Permit 0348 for an Exploration Project to Wolfpack Gold (Nevada) Corp.
http://ndep.nv.gov/docs_13/0348_d.pdf
This permit will become effective November 13, 2013

[finsajeed]

SA: how cost effective compared to peer

As pointed out on a Seeking Alpha article, cost of production in gold mining business needs to control as the price of gold has been reduced. The industry average cost of production is around $1200. SA needs to control cost. Seabridge Gold, Inc. (SA) is among the stock which has experienced higher volatility of price as well as trade volume in the market. By holding this stock, investors experienced 5 visible up and down in the last one year with a yearly high price $19.96 and low price $8.23. The company has a total market capitalization of 484.07 million. Holding SA gave 100% gain to some investors and 100% loss to some investors. The company showed net loss of $9.6 million in Q2, 2013 as compared to $2.3 million at the same period in last year. The net working capital also decreased due to comparatively high cost of production which stood at $.29.2 million On June 30,2013 as compared to $49.6 million at the same period of previous year. There are some companies including Pershing Gold (PGLC) which expects to control the cost within $800 to get comparative advantage. It is expected that SA management will be able to keep situation under control to give better return to shareholders by protecting unexpected price illusion of stock in the market.

[Stanner]

didn't happen here or anywhere today. FEDS keeping Gold in check.Very afraid I think the Feds are.

[grantg2]

SA makes a nice insurance policy with the crazies printing $3+ BILLION every month destroying the US currency...

playing it forward to ZERO!

Wonder what the price of SA will be when it takes a current month's paycheck just to cover rent and groceries???

Oh... that's right, it already does! What'll be happening when gold runs to $3000/oz?

That probably won't happen... China will just buy the part of North America between Mexico and Canada!

[Stanner]

60%+ institutional owned

[Stanner]

Low float very attractive---cuts both ways I guess

[Stanner]

SA seems to have a grip on things. Very good Company.

[investora2z]

The stock has done much better than many of its peers over the last few months. It is almost double its recent low made in June, and has fallen only 5-6% on a 52 week basis. In Q2'13, the company posted a net loss of $9.6 million ($0.21 per share) compared to a loss of $2.3 million ($0.05 per share) for the same period last year. Even sequentially, the net loss increased. The net loss comprised of the non-cash charge of $2.2 million related to the amortization of the flow-through share premium received on the November 2012 financing, and the non-cash charge of $6.2 million mainly related to the set-up of deferred taxes on the value of the Company's mineral properties. The investment in mineral interests declined on a yoy basis from $12.2 million to $8.2 million mainly at KSM and Courageous Lake. The net working capital also declined. On June 30, 2013, net working capital was $29.2 million compared to $49.6 million on December 31, 2012. A recent article on seekingalpha has expressed doubts about the viability of the company's KSM project at current price levels of gold. The author stated that the prices need to cross $1400 and the capital funding required to fund the project would be very high. Another article on seekingalpha had mentioned that cost of production was a key metric in the gold mining business, especially in the current environment. The industry average was around $1200 per ounce, with exceptions like Pershing Gold (PGLC), another development stage company, expected to have all-in costs at around $800 per ounce. The potential of the KSM property is immense, and the recent results indicated prospects of finding another high-grade core zone. In any case, it is one of the largest undeveloped copper-gold-silver deposits in the world with expected deposits in excess of 38 million ounces of gold and 10 billion pounds of copper in the reserve category. However, after such a huge rise in the stock, it is good to be a bit cautious.

[Kapla]

Yes, keeping an eye on this one now. All the gold miners have been very bullish last few days/week. GL

[ThSeeker]

Decent news.
Seabridge Gold (TSX:SEA) (NYSE:SA) announced today that it has discovered a very large, higher-grade core zone at Deep Kerr on its 100%-owned KSM project in northwestern British Columbia, Canada. Sitting down dip and in part continuous from the Kerr deposit, Deep Kerr is reporting significant mineralized intervals containing total metal values per tonne that are approximately two times KSM's proven and probable reserve average, with some intervals exceeding 1.0% copper and gold grades as high as 1.7 grams per tonne (g/T). Aggressive drilling with five large core rigs continues.

[ThSeeker]

This is going to be a difficult place to have money parked for quite awhile.

[Tommy]

$SA - Expect More Share Dilution At Seabridge

http://seekingalpha.com/article/1541042-expect-more-share-dilution-at-seabridge?source=email_macro_view&ifp=0

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)

By Ivan Y.

Shareholders of non-producing mining companies that need to raise money to continue exploration and advance their projects toward development will be some of the biggest losers in this year's mining stock wreckage unless the share prices turn up reasonably soon. Several weeks ago, I wrote about how share dilution is one of the risks of owning a junior mining stock. The example I gave was Pretium Resources (PVG), which was forced to dilute shareholders in April when its stock price was depressed. Seabridge Gold (SA) is a company that is in a similar situation with PVG because it needs to raise money every year.

Seabridge has two significant gold projects in Canada named KSM and Courageous Lake. Coincidentally, these projects are located next to PVG's projects in British Columbia. At the end of Q1 2013, the company had about $34 million in cash and short-term deposits with no debt, and they are projecting $24 million in expenses this year to fund the advancement of KSM and Courageous Lake. The $24 million is on top of what they will need for general corporate expenses. It seems that they have enough money for this year, but in order to continue next year they will need more financing at the end of the year. At the end of 2012, the company raised roughly $40 million by issuing shares: 1.1 million shares were sold at $21.85 in a private placement and 1 million shares were sold at $17.92 to Royal Gold (RGLD). RGLD had an option to purchase these shares and they exercised it. At the end of 2011, SA sold 1 million shares at $27.36. In all these transactions, they were able to sell shares at a premium to the share price.

However, if the share price remains where it is now (hovering around $9), they will have to sell shares at roughly half the price compared to last year. Given the negative sentiment towards mining stocks this year, they may not even be able to sell the shares at a premium to the market price. We don't know how much they need to spend in 2014, but assuming its the same as 2013, they will need to raise about another $40 million or so. That would mean about 4.4 million shares need to be issued. Currently, there are 45.6 million shares outstanding, so we are looking at almost a 10% increase in the share count if they do indeed have to issue 4.4 million shares.

This is not disastrous for current shareholders, but it definitely hurts. But what if the share price continues to slide the rest of the year and they have to raise cash in December when the share price is at $5? Then we are looking at an almost 20% increase in the share count. You can see that SA and other mining companies that need to raise cash every year are at the mercy of the market. A low share price hurts in two ways. Shareholders are hurt with unrealized paper losses and they are hurt by dilution when the share price is depressed.

Final Thoughts

SA has projects in Canada that have a tremendous amount of gold reserves and resources. Five years from now, it is likely that SA's KSM and Courageous Lake projects will be generating large profits. That's assuming the gold price has recovered by then. Getting to that point will be a problem for current shareholders because they will have their shares get diluted at low stock prices unless the stock price recovers. In my opinion, this stock comes with too much risk because of the need for financing every year, and I would not touch it either on the long or short side.

[investora2z]

Most stocks in the precious metal sector have rebounded sharply after the recent declines. The rebound can be technical, but it is also possible that the rally may last longer. Seabridge had fallen by more than 30% in one month, and has recovered by 12% in the last few sessions. The volatility is high, and several positive days are required for some stability to emerge. The recent lows need to hold, if tested. In May, the previous lows had held. There was some stability and it seemed that the stocks would become range bound. Now those levels will provide resistance. Seabridge needs to appreciate by 10% from current levels, and spend time there so that the confidence increases. The development stage assets were hit more severely in the recent leg of the fall. Now the big gold producers are available at a discount to book value, and development stage assets like Pershing Gold (PGLC) are available at much below potential values. While volatility and uncertainty may continue, it is possible that the bottom may be around. Jim Rogers had stated that he would start buying gold at $1300, and buy more at $1200. Marc Faber expects a strong rebound in the gold stocks if the gold price increases. It is a fact that gold has corrected significantly from the highs and the mining cost in several mines is below the current price of gold. This situation cannot continue for long and there will be adjustments in prices. The miners will get more conscious of the mining costs and attempt to rationalize. However, it is becoming increasingly important for the gold price to show strength and stability. The reversal has to happen quickly so that the sentiments do not deteriorate. The next few weeks will be crucial in determining the medium term trend.

[investora2z]

The stock has done well over the past few weeks. In fact, it has done much better than what was anticipated. Most gold stocks have actually done better than expected, and gold has also remained relatively stable. It is not totally out of the woods yet, but the utter gloom is reducing. There are opinions on both sides with some saying that there may be consolidation, while other say that there may be much more downside. Only time will tell, but the huge crash over the last few months has surely priced in most of the negatives. If the market crashes or gold breaks down, then things will get unpredictable. Till that time, these stocks may remain stable. The downward bias may be reducing. Some gold / silver stocks have broken out above previous resistances. Seabridge is also trading above previous hurdles, and it may try to stabilize above $11.50, and even reach for $14.50. That could be the new range, unless $11.50 breaks. The fundamentals of the company depend on development of its properties or sale of the assets. It does not have any regular revenues at this stage, and hence moves more on news flow related to its properties. The main trigger may come if there is some news about investor interest its assets. These gloomy times have pushed the prices of the companies to extremely low levels, mostly below book value. Assets of many development companies are available at good valuations. Coeur D'Alene (CDE) had recently hinted at some acquisitions of small companies surrounding its properties in Nevada. It has already acquired a 5% stake in Pershing Gold Corporation (PGLC) which is planning to start production in a few months. While Seabridge may be looking for investors, it may itself consider acquiring small stakes in companies which may help it build its strategic position.

[investora2z]

$10 seems to be holding up for Seabridge and it is attempting to bounce from there again and again. However, the volumes are missing. Had these bounces been with abnormally high volumes, then they would have been more convincing. So the recent lows have to be a stop loss if one wants to trade. These weak bounces may not do much for the medium term trend, and the stock is likely to remain range bound between $9.50 to $11.50. Move outside this will necessarily have to be with good volumes. Further, this has a direct co-relation with gold prices. For gold, $1340 may be a key support, and people will be looking for a rebound from that. A cut below that will be painful for the entire sector. People are already talking about $1100, but such depressing talk is common in gloomy times. Another problem could be that the overall support of the Fed may start to come down a little bit over the next few quarters. This is what appears from the recent statements, and that has perhaps dampened the sentiments. For Seabridge, the main problem is lack of revenues due to the nature of its business. If it is able to find buyers for Courageous Lake or KSM property, then things will improve dramatically. The recent positive report about gold from the new deposit at Walsh Lake is also good for the company. Overall, the valuations for the sector may look good in hindsight when the gold prices rebound. Pershing Gold Corporation (PGLC) which is about to start production in a few quarters is available at cheap valuations. The first year production target is 50,000 oz. of gold. So one can remain open to investment ideas, but with a long term perspective. There is also a trading opportunity within the range, but with a strict stop loss.

[investora2z]

SA is continuously on the lookout for buyers or joint venture partners for its two properties, namely, courageous Lake Property and the KSM property. This is the basic business model for the company as it acquires properties at low rates and sells them off at a profit. It did so for its Noche Buena property in Mexico which it sold for a total of $35 million in 2008 & 2010. The 2010 inflow related to this property ($10.1 million) was the last time the company earned any major revenue. These three properties were purchased between 1999 and 2002 when they were undervalued due to the low prices of gold. The other two properties, have not been sold yet, and SA is actively investing in their development. It spent $48.8 million on the two properties in 2012 with the expenditure on the KSM property being $33.1 million. The KSM property has low estimated production cost. In addition to looking for buyers / partners, SA is also on the lookout for buying new properties in the gold business which have good future potential. This is a trend now with big companies acquiring stake in smaller companies. Even the smaller companies require funds for speeding up the development of the mines, and are on the lookout for strategic partners. Bullfrog Gold (BFGC) recently declared very good drilling results for its Newsboy project and expressed its desire to join hands with strategic partners. SA has sufficient funds for such partnerships, and successfully completed $42 million funding in 2012 which was obtained at valuations at a significant premium to the current market price. This led to a short-term spike in the share prices. However, till the company is able to find buyers for the two properties, the probability of a sustainable change in the fortunes for the stock is not very high.

[investora2z]

The business model of SA is basically to sell its gold projects or participate in joint ventures with major mining companies for speeding up production in its properties. It is a development stage company engaged in the acquisition and exploration of gold properties located in North America. Between 1999 and 2002, it acquired 100% interests in several advanced-stage gold projects situated in North America and Mexico. Due to rise in gold prices over the years, Seabridge has commenced exploration / engineering studies at those projects. The Mexican project (Noche Buena) was sold for $25 million in December 2008 and residual interests therein for $10.1 million in 2010. Its main projects currently are the Courageous Lake property and the KSM property located in British Columbia. The Company spent $48.8 million on mineral interests in 2012, an increase of $7.5 million over 2011 figure of $41.3 million. Most of this expenditure was on its KSM property ($33.1 million). The balance of $15.6 million was on Courageous Lake property. The updated PFS, filed in June 2012, confirmed mineral reserves of 38.2 million ounces of gold and 9.9 billion pounds of copper. In addition, through the drilling program, a high-grade copper-gold zone below the Kerr deposit was discovered. The mines are mostly valued based on their potential reserves, and the cost of production (capital expenditure and opex). The KSM property has low estimated production cost. The company is always on the lookout for acquisition of properties which have potential. Smaller companies which are on the threshold of production e.g. Pershing Gold (PGLC) which is about to start production in 2014 (50K ounces), are available at low valuations right now. Companies like SA are always scouting for such opportunities. Usually, investment in mining companies is most fruitful if it is done during the gestation period. After the production starts, the stock prices take off too fast.

[ThSeeker]

SA sells Grassy Mountain Gold Project for share in Calico Resources Corp
VANCOUVER, Feb. 6, 2013 /PRNewswire/ - Calico Resources Corp. (CKB.V) (the "Company" or "Calico") is very pleased to announce that today it entered into a formal agreement to amend its Grassy Mountain Option and at the same time Calico exercised in full its option to acquire the Grassy Mountain Gold Project in south east Oregon. Calico now owns a 100% interest in the Grassy Mountain Project, subject to applicable royalties.

Buck Morrow, the President and CEO of Calico stated: "The exercise of the option is a major milestone for Calico. The Company has managed to substantially reduce the risk in the project and has demonstrated to the permitting agencies and the market that Calico is the 100% owner of the project both now and in the future. Our shareholders should recognize the advantages Calico now has, not only by controlling all aspects of the ownership of the Grassy Mountain Project acquired from Seabridge, but also by holding the substantial property position Calico acquired by staking royalty free claims contiguous to the Grassy Mountain Project.

In exercising the Grassy Mountain Option, Calico issued to Seabridge Gold Inc. 6,433,000 common shares and 4,567,000 special warrants. Each special warrant is exercisable for no additional consideration to acquire one further common share. Seabridge may only exercise from time to time that number of Special Warrants such that Seabridge will not at any time own 20% or more of the issued shares in Calico. In the event that there are special warrants unexercised as of the date of the next annual shareholder meeting of Calico (expected to be sometime in December 2013), then Calico is required to ask its shareholders at such shareholder meeting for approval to allow all of the remaining unexercised special warrants to be immediately exercised.

All shares and special warrants issued to Seabridge were subject to a four month hold period in accordance with applicable Canadian securities laws and were impressed with a legend in compliance with US securities laws.

Seabridge retains a 10% net profits interest (the "NPI") in the Grassy Mountain Property. Within the 30 days following Calico's receipt of a feasibility study on the Grassy Mountain Project, Seabridge has the right to elect to cause Calico to purchase the NPI for $10,000,000. If Seabridge makes such election, then Calico will be required to make such payment within the 120 days following the later of: (a) the date of receipt of all required permits and the complete bonding of the proposed mine on the Property and (b) the completion of a feasibility study.

As part of the exercise of the Grassy Mountain Option, Calico successfully negotiated various amendments to the Grassy Mountain Option, including: (a) the ability to immediately exercise the Grassy Mountain Option (now completed); (b) in consideration of the early exercise of the option, a reduction of securities to be issued to Seabridge of 1,000,000 shares; and (c) a clarification as to the required payment date for the purchase of the NPI, if so elected by Seabridge.

About Grassy Mountain

Permitting Status:
In 2012 Calico commenced the permitting process for an underground mine and mill facility at Grassy Mountain. The State of Oregon has accepted Calico's Notice of Intent to develop the project, held several Public Hearings and deemed the Company's Draft Environmental Baseline Study Work Plans sufficient for official review. Calico is continuing with the permitting process with enthusiasm and confidence.

Preliminary Economic Assessment Report Status:
A Preliminary Economic Assessment is currently being prepared under NI 43-101 standards. Calico expects the PEA to be completed by the end of February 2013. Upon the receipt of the PEA Calico will be issuing a news release and SEDAR filing the PEA.

Qualified Person
Michael F. McGinnis, CPG 10914, Calico Resources Project Manager, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release accurate.

[canucklehead80]

Fresh Releases - January 16, 2013
Kevin Michael Grace

Eagle Hill reports Quebec Gold Assays up to 14.74 g/t over 17.9m

Seabridge reports BC Assays up to 3.02 g/t Gold, 12 g/t Silver over 22.5m

Golden Star reports Ghana Gold Assays up to 32 g/t over 26m

Read the full press release summaries here. http://resourceswire.com/2013/01/fresh-releases-30/

[canucklehead80]

Fresh Releases - October 16, 2012
Colossus Minerals T.CSI | Seabridge Gold T.SEA | New Oroperu V.ORO
Kevin Michael Grace

Colossus reports Brazil Assays up to 3.67 g/t Gold, 1.13 g/t Platinum, 2.93 g/t Palladium over 33.9m

Seabridge reports NWT Gold Assays up to 3.62 g/t over 23.3m

New Oroperu reports 2.61M oz Peru M&I Gold Resource

Read the press releases and summaries of these assay results here. http://resourceswire.com/2012/10/fresh-releases-6/

[ThSeeker]

6:04AM Seabridge Gold's Walsh Lake Discovery delivers more high-grade gold intercepts (SA) 18.00 : Co announces that assay results from the next eight holes drilled on the Walsh Lake target at its 100%-owned Courageous Lake Project in Canada's Northwest Territories have substantially increased the size of this high-grade discovery. The Walsh Lake high grade zone now has a strike length of nearly 900 meters and remains open to the north, up dip and at depth. Results from another 10 holes drilled in this year's program are expected over the next several weeks.


The grams/ton for this company are phenomenal.
http://finance.yahoo.com/news/seabridges-walsh-lake-discovery-delivers-100000796.html

[ThSeeker]

NEWS: has discovered highest grades found at site todate.
http://ih.advfn.com/p.php?pid=nmona&article=54051724&symbol=SA

[Tommy]

Reserves and Resources

http://www.seabridgegold.net/resources.php

[Tommy]

Projects

http://www.seabridgegold.net/projects.php

[Tommy]

Strategy

http://www.seabridgegold.net/corpstrat.php