ICN Icn Resources Ltd.

Icon Industries Limited ("Icon" or the "Company") (TSX VENTURE:ICN) is pleased
to announce that it has entered into a letter of agreement with Seabridge Gold
Inc. ("Seabridge") (NYSE Alternext US:SA) and its wholly-owned subsidiary,
Seabridge Gold Corporation, for the acquisition by Icon of an option to acquire
a 100% interest in Seabridge's claim groups known as the Hog Ranch and Estill
property (the "Property"), located in Washoe County, northwest Nevada, USA. The
property comprises 238 unpatented lode mining claims that cover approximately
4917 acres (1990 hectares), and a mining lease with Estill Ranches LLC
("Estill") on approximately 592 acres (239.6 hectares) of privately owned fee
land. The property is subject to the following annual fees and royalties:


- A 3% net smelter royalty (NSR) is due to Platoro West Inc. ("Platoro") on
production from the unpatented lode claims when gold is under $300 (US) per
ounce, rising to 5% above $500 per ounce, 40% of which can be purchased by the
property owner at any time for $2 million


- An advance royalty is due to Platoro of $20,000 (US) per annum, due in November

- Holding costs of approximately $30,000 (US) per year to the Bureau of Land
Management


- Under the terms of a 20 year lease on the Estill claims which commenced on
October 1, 2004, annual payments of $20 (US) per acre (total approximately
$12,000) are due to Estill until 2009, subsequent to which payments of $30 (US)
per acre are due


- Payment to Platoro a further $250,000 (US) in cash upon the earlier of (i)
confirmation by an independent third party of a measured and indicated gold
reserve of more than 1.0 million ounces, or (ii) completion of a positive
bankable feasibility study which demonstrates a mine capable of producing at
least 100,000 ounces of gold per annum


The transaction calls for the payment to Seabridge of $500,000 (CDN) and the
issuance of 1 million common shares of the Company, upon which Seabridge shall
grant the Company the option to purchase 100% of Seabridge's right, title and
interest in the property. In order to exercise the option, the Company must pay
Seabridge $525,000 (CDN) and issue 1 million common shares on or before 12
months from receipt of acceptance by the TSX Venture Exchange. The agreement is
subject to the completion of financial, legal, and technical due diligence on
the property; conclusion of a definitive agreement within 45 days and acceptance
by the TSX Venture Exchange.


The Hog Ranch Property is a large gold-bearing hydrothermal system which is the
westernmost of a series of gold deposits in the northern Nevada epithermal
district, which includes bonanza grade gold deposits such as the Sleeper Mine
(approximately 1.7M oz. production), Midas Mine currently operated by Newmont
Mining with 1998 historic pre-mining reserves of 2.7 million tons grading 1.115
oz/ton Au and 12.82 oz/t Ag (Goldstrand and Schmidt, 2000) and Great Basin Gold
Ltd's Hollister deposit (NI43-101 compliant reserves of 1.28 million tons
grading 0.90 oz/ton gold and 4.8 oz/ton silver; Feb. 23, 2009 news release). The
Midas reserves are historic and are believed reliable, but cannot be verified.
The deposits are related to the northern Nevada Rift system, a series of faults
associated with 17 to 14 million year old Miocene age volcanism that are
associated with the Yellowstone hotspot.


Gold was first discovered at Hog Ranch in 1980 by Noranda Exploration, Inc.
Subsequent explorers focused on open-pit deposits amenable to heap leach
processing, which led to a production decision in 1986 by Western Goldfields. In
1988, Western Mining Corporation purchased the property and continued mining
until 1993 when the mine was shut down. Total gold production during operations
was approximately 200,000 ounces (6.22 tonnes) of gold from 7.71 million tonnes
of ore that was derived from six separate open pit deposits with an average
grade of 1.24 grams per tonne (g/t) gold. Final reclamation from the mining
operations has been recently completed and approved.


The property still contains two deposits which were not mined by Western Mining
which contain historical resources: the White Mountain deposit, containing 1.45
million tonnes grading 1.13 g/T gold, and the Airport deposit, containing 0.4
million tonnes grading 1.85 g/T gold. These resources are of a historical
nature, are not in compliance with Canadian Institute of Mining, Metallurgy and
Petroleum standards, and consequently should not be relied upon. In 1996 Cameco
U.S. Ltd, continued exploration for the same target type - shallow, oxidized
deposits amenable to heap leach processing - and discovered a further zone of
mineralization for which no resources have yet been estimated. Drill hole
intercepts there included 16.8 m grading 1.7 g/t gold, 7.6 m grading 3.53 g/t
gold, and 6.1 m grading 57.9 g/t gold, although follow up drilling the following
year by Gold Valley Resources failed to reproduce the latter result. True widths
of these intercepts have not been determined.


Despite extensive drilling to define the shallow, low grade open pit resources,
only a small proportion of drill holes were drilled to a depth greater than 200
meters on the property prior to 2001. The shallow drilling did not
systematically test the potential for the discovery of high-grade gold
mineralization associated with the high-angle, structurally-controlled feeder
zones, such as is seen below near-surface low grade mineralization at the Midas,
Sleeper, and Hollister deposits. Recognizing this potential, Seabridge Resources
optioned the property in 2001, and drilled eight holes which followed up several
previous holes that were drilled beneath two of the past producing pits, and
along their strike extensions which had historically intersected gold values
ranging from trace up to 177 g/t of gold. The program was successful in
intercepting two different structures containing high-grade gold with a best
intercept of 0.76 m grading 19.9 g/t gold, however, the deepest angled drill
hole of their limited program was only 146 m, in which high-level silica
textures, clay mineralogy and Au-Sb-As geochemistry still suggested a greater
target depth.


The property was subsequently optioned to Romarco Minerals in 2003, who drilled
725 m in 3 Rotary Percussion holes in 2004. Results included 6 meters grading
13.1 g/t gold, 1.5 m grading 28.7 g/t, and 1.5 m grading 17.2 g/t gold (true
widths unknown). A second phase program of six core holes (1,398 m) included 1.5
m that assayed 15.3 g/t gold, as well as numerous broad zones of lower grade
gold mineralization. For example, HR 04-9, intercepted 10.7 m of 1.08 g/t and a
separate interval of 25.9 m of 0.42 g/t gold (true widths unknown). Other
Romarco drill hole results ranged from trace to the values discussed. Romarco
relinquished their option on the property in 2005 to focus their exploration
activities on other projects. No work has been done on the property since that
time.


Icon Industries believes that the Hog Ranch property contains high exploration
potential for the discovery of bonanza-grade epithermal gold mineralization
comparable to that seen in other deposits of the northern Nevada epithermal
district. The low grade and high level style of mineralization which was
historically mined is comparable to that seen above many higher grade systems,
including the Hollister deposit. The previous drilling results, and other high
grade intercepts which lie beneath the historically mined pits, also indicate
the potential for bonanza grade styles of mineralization, and the local
occurrence of chalcedonic banded quartz-adularia veins intersected in some drill
holes and pits are of the style seen in upper parts of productive epithermal
vein deposits.


Icon intends to continue exploration on the property by initially reviewing and
modeling of the exploration and historical mining data generated to date, and to
conduct additional surface mapping of structural patterns and alteration
zonation, which may help in the identification of potential faults that could
host, or control deeper vein systems. Once prospective areas are better defined,
ground geophysical surveys, particularly resistivity/induced polarization, which
have been proven to be useful in aiding in targeting for veins in similar large
alteration systems, will be undertaken, followed by drilling. Initial targets
will be in the vicinity of historical mining and resources, however, given the
large, greater than 50 km2 size of the zoned alteration system, and the
restriction of past drilling largely to the deposit areas, the company believes
additional targets may be defined during the program.


The technical information in this news release was reviewed by K. Ross, P.Geo.,
a Qualified Person as defined by N.I. 43-101.


A Finder's Fee is payable on the transaction based on the appropriate TSX
Venture policy.


On behalf of the Board of Directors of Icon Industries Limited.

T. Barry Coughlan, President

Certain matters discussed in this press release may contain forward-looking
statements. Investors are cautioned that all statements, other than statement of
historical fact, involve risks and uncertainties, including but not limited to:
exploration and mining risks and financing risks. There can be no assurance that
such statement will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Investors are
encouraged to review ICON's filings on SEDAR at www.sedar.com.

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