Check out the news from this huge project in BC.

NickCDN

Toronto (Canada) Seabridge Gold Inc. (TSX:SEA)(NYSE:SA) (the "Company") announced today that it has entered into an agreement with a syndicate of underwriters, led by Canaccord Genuity Corp. ("Canaccord-Genuity") and including National Bank Financial Inc. (collectively, the "Underwriters"), whereby the Underwriters have agreed to purchase, on a bought deal basis, 1,000,000 flow-through common shares (the "Flow-Through Common Shares") of the Company at a price of $12.00 per Flow-Through Common Share (a 23.5% premium to today's closing price on the TSX) for gross proceeds of $12 million (the "Offering"). The Company has granted the Underwriters an option to purchase from the Company up to an additional 150,000 Flow-Through Common Shares, at the same price as is applicable to the Offering, exercisable at least one week prior to the closing date. Canaccord-Genuity and Cowen and Company, LLC are acting as financial advisors to the Company on this transaction.

The gross proceeds from the Offering will be used to fund an increased exploration program at the Company's 100% owned KSM Project in north western British Columbia.

Seabridge Chairman and CEO Rudi Fronk noted that "this financing enables us to commit the necessary resources for an expanded 2014 program at KSM. We have been refining the targeting data obtained from the geophysical surveys completed this spring. This work has helped us to establish additional high-priority opportunities that we would like to test this year if possible. This financing will enable us to increase the number of rigs in the program.

"As with all our exploration spending, we expect to generate additional gold and copper resources which will more than offset the share dilution involved. Growing gold ownership per share continues to be a key objective for Seabridge," Fronk stated.

The Offering is being made by way of private placement in Canada. The Offering is scheduled to close on or about July 22, 2014, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange, the NYSE, and the relevant securities regulatory authorities. Shares issued under this Offering are subject to a four month hold period.

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.