30 March 2020
Seabridge Gold announced today that it has entered into an agreement to acquire a 100% interest in the 3 Aces gold project in the Yukon, Canada from Golden Predator Mining Corp. for 300,000 Seabridge common shares, potential future cash payments totalling $2.25 million, continuing royalty participation in the project by Golden Predator and the immediate cash payment of $263,000 as reimbursement for project-related payments made by Golden Predator. In the event that this transaction does not close, $218,000 of the cash payment becomes a loan payable to Seabridge. Closing of the transaction is subject to the usual terms and conditions, including final due diligence by Seabridge and the approval of the applicable stock exchanges.
Seabridge Gold Chairman and CEO Rudi Fronk said the 3 Aces Project is a first rate exploration play with the potential to host a high grade commercially-viable ore body. “We think 3 Aces is a worthy addition to the three outstanding exploration opportunities we already own in British Columbia, Nevada and the Northwest Territories. Golden Predator has done an excellent job of demonstrating the exploration potential at 3 Aces, confirming the project’s positive metallurgy and establishing excellent relationships with local First Nations and communities. Their focus has shifted to the much more advanced and permitted Brewery Creek Mine. Our exploration team is keen to get going on 3 Aces, beginning with a review of the extensive data generated by Golden Predator.”