Federal Government Issues Key Water Licence for Seabridge Gold’s KSM Project
22 November 2016 - 12:00AM
Seabridge Gold Inc. (TSX:SEA) (NYSE:SA) announced
today it has received a licence from the Government of Canada
required for the construction, operation and maintenance of the
Water Storage Facility and associated ancillary water works at its
100%-owned KSM Project located in northwestern BC.
The licence, as authorized within the
International Rivers Improvement Act (IRIA), regulates all
structures and activities situated on transboundary waters shared
with the United States that have the potential to impact water
quality and quantity. The Water Storage Facility (WSF) and its
ancillary water works (water diversion ditches and tunnels) are the
primary water management control systems for the KSM Project. These
facilities separate water which has not contacted mined material
from so-called contact water originating from disturbed areas of
the mine site and then contain the contact water prior to treatment
and eventual release to the receiving environment. These facilities
are situated on Mitchell and Sulphurets creeks, tributaries of the
transboundary Unuk River system that flows into Alaska. The licence
was granted for a term of 25 years under the International Rivers
Improvements Regulations as administered by Environment and Climate
Change Canada.
Seabridge Gold Chairman and CEO Rudi Fronk
stated: "This important permit highlights the Government of
Canada’s continued support for the environmental standards
incorporated into our design of the KSM project. This approval
further validates the Environmental Impact Statement approval
received in 2014, also from the Government of Canada, which
concluded that the KSM Project would not result in ‘significant
impacts’ to the environment, including those waters which flow into
Alaska. On behalf of Seabridge and its stakeholders, I would like
to express our thanks to the Minister of Environment and Climate
Change Canada and her technical team for reviewing and approving
our permit application.”
Seabridge Gold holds a 100% interest in several
North American gold resource projects. The Company’s principal
assets are the KSM and Snip Gold properties located near Stewart,
British Columbia, Canada and the Courageous Lake gold project
located in Canada’s Northwest Territories. For a breakdown of
Seabridge’s mineral reserves and resources by project and category
please visit the Company’s website at
http://www.seabridgegold.net/resources.php.
Neither the Toronto Stock Exchange, New
York Stock Exchange, nor their Regulation Services Providers
accepts responsibility for the adequacy or accuracy of this
release.
All reserve and resource estimates
reported by the Corporation 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.
This news release includes certain
forward-looking statements or information. All statements other
than statements of historical fact included in this release,
including, without limitation, statements regarding mineral
reserves and resources of the Company are forward-looking
statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's plans or
expectations include regulatory issues, market prices, availability
of capital and financing, general economic, market or business
conditions, timeliness of government or regulatory approvals and
other risks detailed herein and from time to time in the filings
made by the Company with securities regulators. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise except as otherwise required by
applicable securities legislation.
ON BEHALF OF THE BOARD
"Rudi Fronk" Chairman and C.E.O.
For further information, please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367-9292
Fax: (416) 367-2711
Email: info@seabridgegold.net
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