Seabridge Gold Files Third Quarter Financial Statements and MD&A
09 November 2007 - 10:08PM
Marketwired
TORONTO, CANADA (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
http://www.seabridgegold.net/2007-Q3.pdf.
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 http://www.seabridgegold.net/Resource.htm.
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 www.sedar.com) 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 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.
The TSX-V Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Seabridge Gold Inc. Rudi P. Fronk President and C.E.O.
(416) 367-9292 (416) 367-2711 (FAX) Email: info@seabridgegold.net
Website: www.seabridgegold.net