Seabridge Gold Inc.

Seabridge Gold Inc.

March 07, 2005 06:00 ET

Noranda to Drill Seabridge Gold's Kerr-Sulphurets Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SEABRIDGE GOLD INC.

TSX VENTURE SYMBOL: SEA
AMEX SYMBOL: SA

MARCH 7, 2005 - 06:00 ET

Noranda to Drill Seabridge Gold's Kerr-Sulphurets
Project

TORONTO, ONTARIO--(CCNMatthews - March 7, 2005) - Seabridge Gold Inc.
(TSX VENTURE:SEA)(AMEX:SA) -

Summer Program to Test Four New Priority Zones

Seabridge Gold announced today that it has received a report from its JV
partner, Noranda Inc., on the results of Noranda's exploration
activities at the Kerr-Sulphurets Property located in British Columbia,
Canada. Based on exploration results obtained during 2003 and 2004,
Noranda has identified four priority targets that they plan to drill
test during 2005. These four zones lie outside the resources previously
defined for the Kerr and Sulphurets deposits. An independent
petrographic report analyzing 58 polished thin sections taken by Noranda
from these zones concluded that "alteration and Cu-Au mineralization
observed at the property is probably due to structural leakage of, or
from the potassic-Cu-Au core zone of, a world-class-sized porphyry
system".

Seabridge acquired a 100% interest in the 68.8 square kilometer
Kerr-Sulphurets project from Placer Dome (CLA) Limited in June, 2001.
The project currently consists of two deposits which were modeled
separately by Placer Dome. Sulphurets is the collective name for at
least four intrusive-centered gold-rich zones spanning approximately
three kilometers of strike length. The resource calculations made by
Placer Dome for Sulphurets were confined to 1,000 meters of the three
kilometer strike length. The Kerr deposit was modeled by Placer Dome as
a copper-gold porphyry system. Resource estimates for these deposits
were prepared in 1993 and are as follows:



Kerr-Sulphurets Resources

---------------------------------------------------------------------
Indicated Resources
--------------------------------------------------
Gold Gold Cu Copper
Tonnes Grade Ounces Grade (Million
(000's) (g/T) (000's) (%) Pounds)
--------------------------------------------------
Sulphurets (1) 39,300 1.05 1,332 0.32 277
--------------------------------------------------
Kerr (2) 4,030 0.34 809 0.74 1,208
---------------------------------------------------------------------
Total 113,330 0.59 2,141 0.59 1,485
---------------------------------------------------------------------


---------------------------------------------------------------------
Inferred Resources
--------------------------------------------------
Gold Gold Cu Copper
Tonnes Grade Ounces Grade (Million
(000's) (g/T) (000's) (%) Pounds
--------------------------------------------------
Sulphurets (1) 15,500 0.92 458 0.33 113
--------------------------------------------------
Kerr (2) 66,780 0.37 794 0.76 1,119
---------------------------------------------------------------------
Total 82,280 0.47 1,252 0.68 1,232
---------------------------------------------------------------------

(1) Resources for Sulphurets deposit calculated at a 0.50 gram per
tonne gold cut-off grade.
(2) Resources for Kerr deposit calculated at a 0.40% copper
cut-off grade.


In September 2002, Seabridge granted Noranda an option whereby Noranda
can earn a 50% interest in the Kerr-Sulphurets project by spending
$6,000,000 on exploration at the project within six years. Noranda can
earn an additional 15% interest by funding all costs to complete a
feasibility study. If, after earning its 50% interest, Noranda elects
not to proceed with a feasibility study, Seabridge has the option to
acquire Noranda's interest for $3,000,000. After having earned its 50%
interest, Noranda has the right to delay its decision to proceed with a
feasibility study for up to three years by either spending $1.25 million
per year on the property or making payments to Seabridge which would
total $1.5 million over the three year period.

Noranda's objective in the 2003 and 2004 field programs was to explore
outside the known deposits in order to expand the known resources. The
programs consisted of mapping, rock and soil sampling, and IP surveys.
The size of mineralized zones at Iron Cap, Mitchell and Main Copper
(discussed below) were expanded into areas of recent glacier retreat
which were not accessible by Placer Dome. For 2005, Noranda is planning
to conduct a $1,000,000 helicopter supported drill program targeting
untested mineralized zones and geophysical anomalies. The four main
targets are as follows:

Iron Cap Zone

The 500 by 1,500 meter Iron Cap Zone is a large area of well-exposed,
intensely and pervasively quartz-sericite-pyrite altered intrusive and
volcanic rock located in the northeast corner of the claim block.
Alteration is controlled by northeast trending, near vertical structures
with associated stockwork fractures and veins. Pyrite content varies
from 10% to 70% and averages about 25%. To the west, the intense
quartz-sericite-pyrite alteration of the Iron Cap Zone gradually weakens
and primary intrusive textures can be observed. Mapping by Noranda has
delineated a northeast trending intrusion intermittently exposed over
200 by 800 meters now referred to as the Iron Cap West Zone. This zone
is a strongly altered granodiorite, laced with a fine to medium grained
quartz stockwork of varying intensity. Fracture coating and disseminated
chalcopyrite and malachite, with minor pyrite, occurs throughout the
intrusion. Forty partially leached rock chip samples collected by
Noranda over an area of 1,200 by 300 meters from the Iron Cap West and
adjacent Iron Cap Zone averaged 1.0 gram per tonne ("gpt") gold and
0.32% copper.

Main Copper Zone

At the Main Copper Zone, mineralization is associated with potassic
altered monzonitic porphyries which intrude quartz-chlorite-magnetite
altered volcanics. Rock chip samples collected by Noranda over a 1,300
by 700 meter area returned from 0.42 to 1.68% copper and 0.3 to 1.1 gpt
gold. The southeast slope of the Main Copper Zone is well exposed, and
exhibits strong chlorite-magnetite alteration and widespread malachite
and chalcopyrite mineralization. The zone lies north of the Sulphurets
fault, with the Sulphurets deposit occurring immediately to the south.
Immediately east of the Main Copper Zone, a second area of
mineralization was discovered by Noranda where melting of thin glacial
ice and snowfields has exposed new outcrop. Disseminated chalcopyrite,
minor pyrite and trace molybdenite occur in intensely silicified rocks
and hydrothermal breccias similar to the Sulphurets deposit. Ten rock
chip samples collected by Noranda over a 200 by 200 meter area averaged
0.41% copper and 0.6 gpt gold. Noranda refers to this area as
"Icefield", and believes that the zone may extend under remaining thin
ice cover for several hundred meters to the north and east.

Mitchell North Zone

Mineralization at the Mitchell North Zone is hosted by a distinctive,
reddish-purple Kspar-quartz porphryritic granite, which is conspicuously
lacking in ferromagnesian minerals. Sampling by Noranda in 2003
identified this style of mineralization over a 50 by 50 meter area, with
analytical results of up to 3.29% copper and 0.31 gpt gold. Noranda's
2004 program revealed the intrusion to underlie an area of at least 600
by 400 meters. Mineralization is richest near the margins, but is
widespread throughout. 26 samples taken by Noranda averaged 0.68% copper
and 0.1 gpt gold over a 700 by 400 meter area. Quartz veins and
stockworks with chalcopyrite and magnetite are locally well developed in
the intrusion and persist 100 meters into the country rock to the east.

MacQuillan Zone

The MacQuillan Zone occurs on the mostly forested slope north of the
Sulphurets glacier, southeast of the Sulphurets deposit. Disseminated
and veinlet chalcopyrite and pyrite is associated with an altered
feldspar porphyric intrusion, and mineralization occurs in both the
intrusion and surrounding hornfelsed sedimentary rocks. The intrusion is
strongly quartz-sericite altered, with variable stockwork of thin quartz
veinlets, and is typically weathered and partially leached. The
sedimentary rocks have been pervasively silicified and form massive,
prominent rusty-purple weathering outcrops. Less silicified sedimentary
rocks are calcareous, with local thin limestone beds that have been
marbleized. 10 partially leached rock chip samples taken by Noranda
averaged 0.29% copper and 0.23 gpt gold over an area of at least 600 by
300 meters.

National Instrument 43-101 Disclosure

The Kerr-Sulphurets property is located in the Iskut-Stikine River
region, approximately 65 km northwest of Stewart, British Columbia.
Noranda's exploration activities at Kerr-Suphurets are being conducted
under the supervision of Allan Huard, P. Geo. and Mike Savell, P. Geo.,
both of whom are Qualified Persons as defined by National Instrument
43-101.

Seabridge has been designed to provide its shareholders maximum leverage
to the price of gold. The Company has acquired a 100% interest in eight
North American gold projects which collectively contain an estimated
9.10 million ounces of resources in the measured and indicated
categories (246.3 million tonnes grading 1.15 grams of gold per tonne)
plus an additional estimated 7.55 million ounces of resources in the
inferred category (203.1 million tonnes grading 1.16 grams of gold per
tonne). (See http://www.seabridgegold.net/gold_resources.htm for a
breakdown of these gold resources by project as well as detailed
technical information in respect of the projects and the resource
calculations). The Company continues to seek expansion of its gold
resource base by acquisition of new projects and exploration programs
largely funded by partners.

All resource estimates reported in this disclosure are calculated in
accordance 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 which are not
mineral reserves do not have demonstrated economic viability.

Statements relating to the estimated or expected future production and
operating results and costs and financial condition of Seabridge,
planned work at the Company's projects and the expected results of such
work are forward-looking statements within the meaning of the United
States Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by words such as the following:
expects, plans, anticipates, believes, intends, estimates, projects,
assumes, potential and similar expressions. Forward-looking statements
also include reference to events or conditions that will, would, may,
could or should occur. Information concerning exploration results and
mineral reserve and resource estimates may also be deemed to be
forward-looking statements, as it constitutes a prediction of what might
be found to be present when and if a project is actually developed.
These forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable at the time
they are made, are inherently subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements,
including, without limitation: uncertainties related to raising
sufficient financing to fund the planned work in a timely manner and on
acceptable terms; changes in planned work resulting from logistical,
technical or other factors; the possibility that results of work will
not fulfill projections/expectations and realize the perceived potential
of the Company's projects; uncertainties involved in the interpretation
of drilling results and other tests and the estimation of gold reserves
and resources; risk of accidents, equipment breakdowns and labour
disputes or other unanticipated difficulties or interruptions; the
possibility of environmental issues at the Company's projects; the
possibility of cost overruns or unanticipated expenses in work programs;
the need to obtain permits and comply with environmental laws and
regulations and other government requirements; fluctuations in the price
of gold and other risks and uncertainties, including those described in
the Company's Annual Information Form filed with SEDAR in Canada
(available at www.sedar.com) for the year ended December 31, 2003 and in
the Company's 20-F filed with the U.S. Securities and Exchange
Commission (available at www.sec.gov/edgar.shtml).

Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management or its independent professional
consultants on the date the statements are made.

ON BEHALF OF THE BOARD

"Rudi Fronk," President & C.E.O.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Seabridge Gold Inc.
    Rudi P. Fronk
    President and C.E.O.
    (416) 367-9292
    (416) 367-2711 (FAX)
    info@seabridgegold.net
    www.seabridgegold.net
    The TSX-V Exchange has not reviewed and does not accept responsibility
    for the adequacy or accuracy of this release.