Seabridge Gold Sells Residual Noche Buena Project Interest for US$10.12 Million
TORONTO, CANADA -- (Marketwire) -- 12/16/10 -- Seabridge Gold (TSX: SEA)(NYSE Amex: SA) announced today that it has completed the sale of its remaining interest in the Noche Buena project to Minera Penmont, S. de R.L. de C.V. ('Penmont') for US$10.12 million in cash (see News Release dated October 28, 2010). Penmont is a joint venture between Fresnillo plc. and Newmont USA Limited, a wholly owned subsidiary of Newmont Mining Corporation. Dahlman Rose & Co., LLC acted as advisors to Seabridge for this transaction.
Seabridge holds a 100% interest in several North American gold 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 resources by project and resource category please visit the Company's website at http://www.seabridgegold.net/resources.php.
ON BEHALF OF THE BOARD
Rudi Fronk, President & C.E.O.
Contacts:
Seabridge Gold Inc.
Rudi P. Fronk
President and C.E.O.
(416) 367-9292
(416) 367-2711 (FAX)
info@seabridgegold.net