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Project Description Report Filed for Seabridge Gold’s KSM Project
Permitting Process Begins with Federal and Provincial Regulators
TORONTO, CANADA–(April 29, 2008) – Seabridge Gold (TSX VENTURE:SEA)(AMEX:SA) announced today that the B.C. Government has formally initiated the review of the Company’s 100% owned Kerr-Sulphurets-Mitchell (“KSM”) project, located near Stewart, British Columbia, Canada. The environmental assessment review and permitting and licensing process are scheduled to be completed within three years. The KSM Project Description Report filed by Seabridge can be viewed at http://a100.gov.bc.ca/appsdata/epic/documents/p322/1209396840189_8e248a8d30d9c69d64febcf2407aab1ecb7 2483d1ec1.pdf.The Project Description Document envisages a large tonnage operation in the range of 80,000 to 120,000 metric tonnes per day of ore fed to a flotation mill which would produce a combined gold/copper/silver concentrate for transport by truck or pipeline to the nearby deep-sea port of Stewart. Combining production of all the resources from the Kerr, Sulphurets and Mitchell zones could sustain a mine life in excess of 30 years at this envisaged throughput rate. Preliminary open pit plans suggest a waste-to-ore strip ratio of 0.3 to 1 during the initial 10 years of production from the Mitchell zone, increasing to an overall life-of-mine average of 1.35 to 1 for all three zones combined. These figures are required for the filing, and are preliminary in nature and subject to change after further study and no reliance should be placed on their accuracy.
The KSM project represents one of the world’s largest undeveloped gold/copper projects. The following table summarizes 43-101 compliant mineral resources for all three zones at the KSM project using a 0.50 gram per tonne (g/t) gold equivalent cutoff grade (see news releases dated January 10, 2008 and February 20, 2008 for details):
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