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| March 18, 2010 --- Vol. 04, No. 11 | March 2010
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British Columbia
GOLD – A third-party, independent review of Seabridge Gold Inc.’s resource estimates for the KSM project has been completed by Behre Dolbear & Co., a leading international mining consulting firm. Based on its analysis, Behre Dolbear March 15 confirmed that the KSM resource model is reasonable and appropriate. Behre Dolbear also confirmed that the January 2010 multimillion-ounce resource estimates for KSM prepared by Resource Modeling Inc. are accurate, conform to industry practices and comply with the standards set out in National Instrument 43-101. In its review, Behre Dolbear considered alternate resource estimation procedures and parameters and concluded that any resulting differences in resource estimates and classifications are not significant, and that the earlier project-wide estimation of measured and indicated resources is conservative. The scope of work for Behre Dolbear’s review included visual inspection of drill core and a thorough examination of drilling, sampling, assaying and chain of custody procedures. Their review concluded that all Seabridge’s work met or exceeded industry standards. In addition, Behre Dolbear said that quality assurance and quality control procedures employed by Seabridge were excellent and that the gold and copper standard assay comparisons and blank sample analysis were outstanding. The Behre Dolbear review was commissioned as part of the process of preparing a Preliminary Feasibility Study, which is now nearing completion. Seabridge said Behre Dolbear is one of the oldest, continually operating, minerals industry advisory firms in the world.
COPPER/GOLD – Terrane Metals Corp. March 17 reported that the McLeod Lake Indian Band has confirmed that it will fully support the ongoing development of the Mt. Milligan copper-gold project located 150 kilometers northwest of Prince George, B.C. Terrane quoted Chief Derek Orr of the McLeod Lake Indian Band as saying: “The chief and council, after long discussions with Terrane, and after consultation with our membership, confirm that McLeod Lake is fully supportive of this project. The mine is situated in the traditional territory of the McLeod Lake Indian Band, and both the federal and provincial governments have affirmed our treaty rights over the project area in recognition of our historic use and occupation of the area. “Terrane has consulted with us, and addressed our concerns,” Orr said. “We understand that the project will be built, operated and closed in an environmentally sensitive manner. We understand as well that the mine will operate in a manner that will continue to take our treaty rights into account, and provide our community, and the region as a whole, with many benefits. We commend Terrane for its forward thinking, and we believe its conduct, through the environmental assessment processes and in its dealings with us, has been exemplary.” Terrane President and CEO Robert Pease said the mining company will ensure that members of the First Nations group will receive economic opportunities and benefits for the life of the project. Mt. Milligan will be a conventional truck-shovel open pit mine with a 60,000 metric-ton-per-day copper flotation process plant. A 2009 feasibility update study forecast average annual production of 262,100 ounces gold and 89 million pounds copper for the first six years of an estimated 22-year mine life. The project will provide about 400 direct permanent jobs and significant long-term economic benefits for the region. Pending receipt of the balance of operational permits and subject to financing, construction is scheduled to commence in the third quarter of 2010 with commercial production in the first quarter of 2013.
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