Icon Industries Limited ("Icon") (TSX VENTURE:ICN) and Seabridge Gold Inc.
("Seabridge") (TSX:SEA)(NYSE Amex:SA) and its wholly-owned subsidiary, Seabridge
Gold Corporation, announce the execution of the formal Option Agreement by which
Icon can 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 transaction calls for the payment to Seabridge of $500,000 (CDN) and the
issuance of 1 million common shares of Icon, upon which Seabridge shall grant
the Company the option to purchase 100% of Seabridge's right, title and interest
in the property. Icon has made the payments to purchase this option. In order to
exercise the option, the Company must pay Seabridge a further $525,000 (CDN) and
issue a further 1 million common shares, on or before 12 months from the
agreement date.


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,
Newmont's Midas Mine and Great Basin Gold Ltd's Hollister deposit.


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, prior to diamond drilling.


On Behalf of the Board of Directors of Seabridge Gold Inc.

Rudi P. Fronk, President & CEO

On Behalf of the Board of Directors of Icon Industries Ltd.

T. Barry Coughlan, Chairman & CEO
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