Uite 400, Toronto, Onta R Io M5A 1E1 Canada
106 FRONT STREET EAST,
S
UITE 400, TORONTO, ONTA
R
IO M5A
1E1 CANADA
TEL. 416
-
367
-
9292 FAX.416
-
367
-
2711 WWW.SEABRIDGEGOLD.NET
News Release
Trading Symbols:
TSX: SEA
F
OR
I
MMEDIATE
R
ELEASE
NYSE: SA
Ma
y
26
, 2020
Seabridge Gold
Completes Acquisition of
3
Aces
Project in
Canada’s
Yukon
A h
igh
-
grade, near surface
gold
opportunity in a
mining
-
friendly jurisdiction
Toronto, Canada... Seabridge Gold (TSX:SEA, NYSE:SA) announced today that it has
completed the
acquisition of a
100% interest in the 3
Aces gold project in the Y
u
kon, Canada from
Golden Predator Mining
Corp.
for
300
,000 Seabridge common shares
,
potential future cash payments totalling $2.25 million
,
and
continuing royalty participation
in the project by
Golden Predator
.
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
po
sitive metallurgy
and establishing excellent relationshi
ps with local
First Nations
and commun
i
ties
.”
The acquisition agreement provides for additional payments to Golden Predator of $1 million upon
confirmation of a 3
Aces
NI
-
43
-
101 compliant
mineral
resource of 2.5 million ounces
of gold
and a further
$1.25 million
upon confirmation of
a
n
aggregate
mineral
resource of 5 million ounces
of gold
. The
agreement also
grants
Golden Predator a
0.5% net smelter royalty on the project.
“Our current plan is to assemble and evaluate the wealth of data developed by GPY for the targets in the
Central
Core Area with a
view to initiating an aggressive drill program next year
,” Fronk said.
3
Aces is a district scale, orogenic
-
gold project consisting of 1,
536
claims covering
approximately
35
0
km²
located
in a readily accessible part of
southeastern Yukon
(
see map
)
. The
target concept for this project
is
consistent with some of the biggest and richest gold deposits in the world, including the California Mother
Lode Belt, J
uneau Gold Belt, Murentau in Uzbekistan and
Obuasi in Ghana.
Historical work has identified
a broad area of gold
-
in
-
soil extending more than 20
kilometers
(12.4 miles)
along strike and recent drilling
in the Central Core Area has progressed to a point wher
e
, with
additional
exploration
drilling
,
the property
could
potentially
advance to an initial resource with exceptional grade
.
The Property is on the eastern margin of the Selwyn Basin, a thick package of sedimentary rocks extending
across the Yukon and
host to several enormous base metal deposits (Howard’s Pass District). Hyland Group
host rocks, the basal unit of the Selwyn Basin,
are
interbedded clastic and carbonate sedimentary rocks
exposed near a regional tectonic boundary. Polyphase fold and fault
systems overprint the stratigraphy,
creating ideal traps for gold
-
bearing fluids expressed as quartz veins. At 3
Aces,
discrete quartz veins
containing arsenopyrite
-
pyrrhotite
-
pyrite and free gold are found within
a broad zone of gold
-
bearing iron
carbona
te
-
clay alteration envelopes
which will be targeted in our exploration.
Past drilling ha
s
encounted a significant number of gold rich zones on the stratigraphic/structural contact
s
at 3
Aces. By early 2019 the project had completed about 300 holes; 37%
of these encountered +5.0 g/t
gold
intersections and 27% have returned +8.0g/t
gold
. Many of these holes were close
-
space off
-
sets on
106 FRONT STREET EAST,
S
UITE 400, TORONTO, ONTA
R
IO M5A
1E1 CANADA
TEL. 416
-
367
-
9292 FAX.416
-
367
-
2711 WWW.SEABRIDGEGOLD.NET
high
-
grade veins that crop out, but all veins identif
i
ed in the
Central
Core Area have encountered high grade
intersections. Significant effort was expended
by Golden Predator
to ensure th
at
sampling of these high
grade, nuggety intervals produced reliable and repeatable assay results. A sampling protocol i
s
now in place
to achieve reliable results.
The followi
ng table summ
a
rizes select
ed
intervals from previous drilling.
Hole ID
DH
Type
From
(m
eters
)
To
(m
eters
)
Intercept
(m
eters
)
Gold
Grade
(
g/
T)
Spades High Grade Zone
3A16
-
032
RC
16.76
27.43
10.67
32.86
3A16
-
042
RC
17.53
24.38
6.85
25.61
3A16
-
044
RC
17.53
35.05
17.52
3.65
3A17
-
100
RC
19.05
25.91
6.86
20.15
3A17
-
124
RC
6.10
10.67
4.57
58.75
3A17
-
132
DD
20.00
33.30
13.30
6.69
3A17
-
127
RC
12.95
19.05
6.10
22.30
3A17
-
133
DD
23.80
40.00
16.80
20.50
and
57.50
65.00
7.50
13.92
3A17
-
138
DD
7.50
15.50
8.00
50.40
3A17
-
157
DD
19.00
23.20
4.20
20.04
3A17
-
208
RC
0.76
5.33
4.57
81.35
3A17
-
209
RC
2.29
23.62
21.33
18.33
3A17
-
211
RC
1.52
9.91
8.39
14.05
3A17
-
218
RC
5.33
18.29
12.96
14.19
3A17
-
220
RC
1.52
15.24
13.72
43.02
3A17
-
224
RC
1.52
11.43
9.91
21.81
3A17
-
238
RC
0.76
9.91
9.15
41.03
H
e
arts Zone
3A16
-
048
RC
96.01
104.39
8.38
6.39
3A16
-
054
RC
38.86
58.67
19.81
4.76
3A16
-
055
RC
51.05
60.20
9.15
9.37
3A16
-
082
DD
42.67
60.96
18.29
16.75
3A16
-
084
DD
103.98
115.82
11.84
1.72
3A16
-
085
RC
86.87
96.01
9.14
8.65
3A17
-
203
RC
10.67
30.48
19.81
3.32
Other Occurrences
3A17
-
143
DD
12.70
32.00
19.30
16.15
3A17
-
144
RC
5.33
52.58
47.25
1.11
3A17
-
147
DD
13.00
15.50
2.50
15.51
and
18.50
22.00
3.50
21.44
3A17
-
275
RC
40.39
48.77
8.38
5.24
3A18
-
335
DD
16.20
33.06
16.86
1.35
3A17
-
175
RC
32.00
33.53
1.53
36.33
Seabridge Gold holds a 100% interest in several North American gold resource projects. The Company’s
principal assets are the KSM and Iskut properties located near Stewart, British Columbia, Canada and the
Courageous Lake gold project located in Canada’s N
orthwest Territories. For a breakdown of Seabridge’s
106 FRONT STREET EAST,
S
UITE 400, TORONTO, ONTA
R
IO M5A
1E1 CANADA
TEL. 416
-
367
-
9292 FAX.416
-
367
-
2711 WWW.SEABRIDGEGOLD.NET
current
mineral reserves and resources by project and category please visit the Company’s website at
http://www.seabridgegold.net/resources.php.
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts
responsibility for the adequacy or accuracy of this release.
All reserve and resource estimates reported by the Corporation were calculated in ac
cordance 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 wh
ich 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 li
mitation, statements regarding: (i) the potential of the Property to host a high grade
commercially
-
viable ore body;
(ii) the timing of the initiation of any drill program at the Property;
and (ii) the Company
, with
additional exploration drilling, potenti
ally
being able to
advance the property to an initial resource with exceptional grade
, 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, disc
ontinuity
or otherwise unexp
ected geology at the Project, 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 oblig
ation
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 and CEO
For further
information please contact:
Rudi Fronk, Chairman and CEO
Tel: (416) 367
-
9292
Fax: (416) 367
-
2711
Email: