Seabridge Gold Inc T.SEA

QCYR aquires property from PIGCO

[mikenovak]

March 8, 2004 Quincy Resources Acquires Millers Project, Esmeralda County, NV Carson City, Nevada -- Quincy Resources Inc. (OTCBB - QCYR) is pleased to announce the acquisition of the Millers project located in the Walker Lane of central Nevada. The Millers property consists of 21 unpatented lode claims located in Esmeralda County, Nevada that have been leased from Pacific Intermountain Gold Corporation (PIGCO). PIGCO is a 75% owned subsidiary of Seabridge Gold Corporation (CDNX-SEA); Platoro West Incorporated, a privately held Nevada corporation, owns the minority 25% of PIGCO. Quincy has paid an initial consideration of $5,000 advance royalty for the first 12 months and must complete a $20,000 work commitment. The lease agreement calls for escalating yearly advance royalty payments, escalating work commitments, and a sliding scale NSR ranging from 2% for gold prices under $300.00/oz to 5% for gold prices in excess of $500.00/oz. Quincy’s interest in the property centers on a large chalcedonic vein that has been traced along surface for more than a mile. This vein ranges from 5 to more than 30 feet in width and displays classic high level, low temperature quartz textures. Calcite veining accompanies the chalcedony locally and in select vein segments is dominant. The main vein is the largest of at least 5 parallel to sub-parallel veins occurring in a broad vein zone measuring up to 400 feet in width. The veins cut a number of rock types including a Jurassic granite and sediments and metasediments of Cambrian age intruded by and partially covered by a variety of Tertiary rhyolitic intrusives and volcanics. A number of small prospects dating to the late 1800s are found throughout the area. Dickenson-Nevada held the property in the late 1980s and conducted extensive soil sampling which identified a rather large anomalous area in excess of one mile in length. Six holes totaling 2470 feet were drilled ranging from 355 to 505 feet in depth. Although the anomalies were targeted, the ve in characteristic of the chalcedony was not clearly recognized explaining why the veins were only intersected in two holes. Hole MS-1 intersected the quartz veining at about 115 feet with a high assay of .03 opt. Hole MS-2 hit a 40 foot thick zone of chalc edonic veining at 160-200 feet which ran .01 opt. Based upon the field observations of the texture of the veining, the boiling zone is likely to be 300-700 feet below the surface. The boiling zone would be the preferred target for bonanza style mineralization. It is significant to note that there is not a single vein trending N-S as suggested by some of the existing data but rather there is a zone on enechelon high-level epithermal veins each of which trends to the NNE. The existence of multiple veins, the length of the vein zone being well in excess of 5000 feet along strike, the evidence of multiple phase Tertiary igneous activity, the lack of modern exploration, along with the untested pediment potential are all positive indicators suggesting the potential of bonanza style epithermal mineralization at depth. The regional setting of Millers with respect to the Walker Lane, the nearby Castle -Black Rock deposit, and the Midway-Tonopah area further the attractiveness of this project. -2- Quincy Resources Inc. has assembled a select portfolio of advanced vein projects in the major gold producing areas of Nevada and adjacent states along with a distinguished technical team providing its shareholders with maximum exposure to potential high grade gold and silver discoveries within Nevada, Oregon and Idaho. For further information please see our website at www.quincyresources.com or contact: Dan Farrell, President and C.E.O. T: 416-540-6436 E: [e-mail] Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions in the Private Securities Legislation Reform Act of 1995. Forward-looking settlements involve known and unknown risks and uncertainties, which may cause Quincy’s actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: volatility of natural resource prices; product demand; market competition; and risks inherent in Quincy’s operations. These and other risks are described in the Company’s Annual Report or Form 10-K and other filings with the Securities and Exchange Commission.