Trading Symbols:
TSX: SEA
NYSE: SA
TORONTO, Dec. 22, 2014 /CNW/ - Seabridge Gold announced
today that the Federal Minister of the Environment, the Honourable
Leona Aglukkaq, has issued her
Environmental Assessment Decision Statement for Seabridge's KSM
Project. The Statement endorses the conclusions of the KSM
Comprehensive Study Report (CSR) prepared by the Canadian
Environmental Assessment Agency ("CEAA") which found that the KSM
Project is not likely to result in significant adverse effects on
the environment. The federal decision is consistent with the
Province of British Columbia's
approval of KSM which was received on July
30, 2014.
Seabridge Gold Chairman and CEO Rudi
Fronk stated that "with this positive decision, the Canadian
Government has concluded its lengthy and rigorous environmental
assessment process for the KSM Project, which began in 2009. I
would like to thank Minister Aglukkaq for her decision and also
acknowledge the professionalism of her technical team, led by the
dedicated staff from CEAA, who were ably supported by
representatives from Natural Resources Canada, including the Major
Projects Management Office, Environment Canada, Fisheries and
Oceans and Transport Canada. I would also like to acknowledge the
continuing support of the Nisga'a Nation as well as the other First
Nations and local communities whose involvement made substantial
contributions to the achievement of this significant milestone.
Finally, I want to thank the outstanding efforts made by our
talented environmental and permitting team at Seabridge who deserve
enormous credit for this accomplishment."
"Minister Aglukkaq's decision substantiates the findings of the
Government of British Columbia and
our own firm belief that KSM is a well-designed, environmentally
responsible project which is technically feasible and offers
significant economic benefits to both British Columbia and Canada. The federal and provincial approvals
impose important conditions on the development, operation and
closure of KSM which we fully support. In addition to meeting these
requirements, we pledge to continue the open, forthright and
respectful dialogue with all interested parties that characterized
the approval process. We regard these approvals as initiating the
next step in our deepening relationship with BC's northwest in
which we strive to ensure that KSM meets the legitimate
expectations of local communities as well our
shareholders."
The KSM Project underwent a joint harmonized federal-provincial
environmental assessment review as outlined by the British Columbia
Environmental Assessment Act and the Canadian Environmental
Assessment Act. This process began in March 2008 with the initiation of the provincial
review; the federal review process commenced in July 2009.
The provincial process concluded in July
2014 with the receipt of the BC Environmental Assessment
Certificate.
Seabridge holds a 100% interest in several North American gold
resource projects. The Company's principal assets are the KSM
property 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.
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
and the potential economic benefits of the Project 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 & CEO
SOURCE Seabridge Gold Inc.