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In August, 2003
Seabridge granted Romarco Minerals Inc. (“Romarco”)
an option to earn a 60% interest in the Hog Ranch
gold project. Romarco drilled 2123 meters in 9 holes during the 2004 field
season. Romarco encountered good drill intercepts but the results were not
consistent with Romarco´s objective of identifying deep bonanza veins.
Romarco terminated its option agreement on February 3, 2005.
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