26 May 2017
MAY 26, 2017
Toronto, Canada...Seabridge Gold (TSX: SEA) (NYSE:SA) reported today that it has completed the transfer of the Red Mountain Project to IDM Mining Ltd. (“IDM”) upon the exercise of IDM’s option to acquire the Project. IDM has assumed all responsibilities and liabilities related to the project. In connection with IDM taking responsibility for all environmental obligations at Red Mountain, cash held under a Safekeeping Agreement with the Province of BC as security for reclamation liabilities will be released, of which CDN$750,000 will be retained by Seabridge. The Red Mountain Project covers an area of 17,125 hectares and is located 15km northeast of the town of Stewart, BC.
Seabridge holds a 100% interest in several North American gold projects. The Company's principal assets are the KSM Project located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada's Northwest Territories. For a full breakdown of Seabridge's mineral reserves and mineral resources by category please visit the Company's website at http://www.seabridgegold.net/resources.php.