4 February 2014
TORONTO, Feb. 4, 2014 /CNW/ - Seabridge Gold today reported that its agreement to sell its 10% net profits interest in the Grassy Mountain Project for proceeds of US$7.5 million will not proceed. The sale was conditional on the concurrent completion of the sale to Rockstar Resources Inc. ("Rockstar") by Calico Resources Corp. ("Calico") of its wholly owned subsidiary, Calico Resources USA Corp. ("Calico USA"), as announced by Calico on December 3, 2013. Calico USA is the owner of the Grassy Mountain Project, having acquired it from Seabridge upon exercise of an option for a 100% interest in the project originally granted in April, 2011.