Seabridge Gold Extends Iron Cap Deposit

TORONTO - Seabridge Gold reported that the remaining drill holes completed this year on the Iron Cap deposit at Seabridge Gold's 100%-owned KSM project in north western British Columbia have confirmed a northern down plunge extension of the high grade core zone originally discovered by Seabridge in 2016. Results include some exceptional widths of gold and copper mineralization with grades exceeding the KSM resource average. Work is now in progress on an updated resource estimate for Iron Cap.  

This year's principal exploration objectives were to test the down plunge projection of the high-grade core zone of the Iron Cap Deposit to the west of the current resource and evaluate the relative positioning between Iron Cap and the currently planned alignment of the Mitchell-Treaty Tunnel (MTT). Due to its proximity to the MTT and its higher grade, Iron Cap could potentially improve KSM's economics by mining it before the Kerr deposit. The 2018 program successfully tested the down plunge projection of the Iron Cap core zone, assessed the impact of post-mineral intrusions on the south end of the Iron Cap deposit and obtained data for the optimum alignment of the proposed Mitchell-Treaty Tunnel which would transfer ore to the proposed mill.

Seabridge Chairman and CEO Rudi Fronk commented: "Iron Cap has clearly become one of the best deposits in the KSM cluster, not only for its superior grade but also due to its proximity to infrastructure, which we expect will require less capital to develop than the Kerr and Sulphurets deposits, and also its size and orientation which favor efficient, cost-effective underground block cave mining. We believe the impact of Iron Cap on the economic potential of KSM will help us conclude a joint venture partnership on positive terms."