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Drilling Upgrades and Expands Gold Resources at Seabridge's Courageous Lake Project

Results from the first 10 infill core holes drilled this summer at the Seabridge Gold Inc. (SEA.TO) 100% owned Courageous Lake Project are likely to expand and upgrade the project's multi-million ounce gold resource, the company said today. Another 38 infill holes will be drilled before the program ends this September, it added. According to a statement, this year's $16 million program at Courageous Lake is designed to generate the data required to complete a Preliminary Feasibility Study the second quarter of 2012. The drilling component of this program has four main objectives: (i) to upgrade inferred resources within the current FAT deposit pit plan by infill drilling, potentially qualifying them as reserves in the PFS; (ii) to complete geotechnical drilling required for pit slope and water management planning in the PFS; (iii) to condemn areas where project facilities will be located; and (iv) to look for new targets along the 53 kilometers of the Matthew's Lake greenstone belt held by Seabridge.

Seabridge President Rudi Fronk said: "The infill drilling this year is once again confirming the reliability of our resource model for the FAT deposit. Last year's similarly-sized program upgraded 2.5 million ounces of inferred gold resources to higher categories and also added new resources. Based on the first 10 holes drilled this year, we expect a similar result, which will have a significant positive impact on the project." An updated NI 43-101 compliant resource estimate is expected late this year incorporating the 2011 drilling results.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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