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Canadian Explorer Closes Yukon Project Acquisition
News Update

Source:

Seabridge Gold intends to initiate data collection and analysis on this orogenic gold asset.

In a news release, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced that its acquisition of the 3 Aces gold project in the Yukon closed.

"3 Aces is a first rate exploration play with the potential to host a high grade commercially-viable ore body," Seabridge Gold Chairman and CEO Rudi Fronk said in the release. "Golden Predator has done an excellent job of demonstrating the exploration potential at 3 Aces, confirming the project's positive metallurgy and establishing excellent relationships with local First Nations and communities."

The Toronto-based company purchased the property from Golden Predator Mining Corp. for a total consideration of 300,000 Seabridge common shares, potential future cash payments totaling $2.25 million and a 0.5% net smelter returns royalty on the project to Golden Predator.

Further, when Seabridge grows the NI 43-101 compliant gold resource at 3 Aces to 2.5 million ounces of gold, it will pay Golden Predator another $1 million and at 5 million ounces, it will pay another $1.25 million.

As for what's next for 3 Aces, Seabridge intends to collect and analyze the data "developed by Golden Predator for the targets in the central core area with a view to initiating an aggressive drill program next year," Fronk indicated in the release.

The orogenic gold 3 Aces project spans about 350 square kilometers, encompasses 1,536 claims and is easily accessible. It is high grade and near surface, the company stated.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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