Seabridge Gold Inc.

Seabridge Gold Inc.

November 09, 2007 16:08 ET

Seabridge Gold Files Third Quarter Financial Statements and MD&A

TORONTO, CANADA--(Marketwire - Nov. 9, 2007) - Seabridge Gold Inc. (TSX VENTURE:SEA)(AMEX:SA) announced today that it has filed its Third Quarter Financial Statements, and Management's Discussion and Analysis for the period ended September 30, 2007 on SEDAR. To review these documents, please see

3rd Quarter Highlights

- 15,000 meter core drill program completed at Kerr-Sulphurets to upgrade and expand the Mitchell deposit

- Results of the first 17 Mitchell holes confirm north, south and depth extensions

- New 43-101 resource estimate for Noche Buena project underway

- Updated Preliminary Assessment for Courageous Lake project nearing completion

Financial Results

During the three month period ended September 30, 2007, Seabridge posted a net loss of $1,473,000 ($0.04 per share) compared to a loss of $1,878,000 ($0.06 per share) for the same period last year. At September 30, 2007, net working capital was $27,557,000 compared to $6,420,000 at December 31, 2006.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company's mineral resources by project and resource category please visit the Company's website at

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Hog Ranch project and the Kerr and Sulphurets deposits, were 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 for the year ended December 31, 2006 and in the Company's 20-F filed with the U.S. Securities and Exchange Commission (available at

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.


Rudi Fronk, President & C.E.O.

The TSX-V Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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