On June 21, 2016, Seabridge Gold acquired 100% of the issued and outstanding shares of SnipGold, giving Seabridge a 100% ownership interest in the Iskut and KSP Projects subject to an agreement by which Colorado Resources Ltd. was able to earn up to an 80% interest in the KSP Project (59 claims covering 30,500 hectares). Subsequently, Seabridge completed a sale of its interests in the KSP Project to Colorado Resources in exchange for $1,000,000 in cash, 2,000,000 Colorado common shares and a 2% NSR on the property (half of which can be repurchased by Colorado at any time for $2,000,000). For updates, please see the Colorado Resources website.