SEA.TO · 2018-01-31 12:00:00

Seabridge Gold’s Growing Iron Cap Deposit Could Offer Promising Alternative Development Approach for KSM Project New resource estimate now in progress based on outstanding 2017 drill results Substantial resource additions of higher grade gold and copper expected

Drill Results

Seabridge Gold’s Growing Iron Cap Deposit Could Offer Promising

Alternative Development

Approach for KSM Project

New resource estimate now in progress based on outstanding 2017 drill results

Substantial

resource additions of higher grade gold and copper expected

TORONTO, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Seabridge Gold (TSX:SEA) (NYSE:SA) today released a complete summary of its 2017 dri ll

program on the Iron Cap Deposit at its 100%-owned KSM Project in northwestern British Columbia, Canada (see table below). An updated NI 43-

101- compliant resource estimate incorporating these results is now in progress.

Seabridge Chairman and CEO Rudi Fronk noted that the Company now intends to investigate moving Iron Cap sooner in the KSM mine

plan which currently proposes developing Iron Cap after Mitchell, Kerr and Sulphurets. "In the November 2016 KSM Technical Report, the Iron

Cap deposit was the last deposit of four to be mined with production s tarting in year 32 of the current 50 plus year mine plan. Iron Cap has

some advantages. It’s situated in the same valley as key planned infrastruc ture and is immediately adjacent to the proposed tunnel c onveying

ore to the processing plant. Kerr, on the other hand, is in the next valley approximately 10 kilometers away, requiring significant additional

infrastructure to develop and transport its ore to the mill. The reasons for deferral of Iron Cap were its comparatively small size and lower

grade which did not warrant earlier development in our 2016 KSM Technical Report," Fronk said.

"However, drilling over the past two years is changing our thinking. In our view, size and grade appear to be set to rise. We now believe that

exploiting Iron Cap earlier has the potential to significantly improve KSM’s economics becaus e it could defer significant capital costs and expedite

better grades into the mine sequence. We are planning another program at Iron Cap this year to expand the known zones of mineralization, fill in

some of the holes in past drilling and move these newly defined intervals towards reserve definition." See a long section of the Iron Cap Deposit

here with the 2017 drilling.

The Iron Cap Deposit has been permitted for block cave undergr ound mining within the Environmental Assessment approved by the British

olumbia and Canadian Governments in 2014.

rill results from the 2017 Iron Cap program were as follows:

Drill

Hole ID

Total

Depth

(meters)

From

(meters)

Interval

(meters)

Gold

(g/T)

Copper

Silver

(g/T)

Equivalent Grade

Gold

(g/T)

Copper

(%)

IC-17-63 957.4

Including

146.9 625.4 478.5 0.43 0.45 4.0 1.21 0.75

566.4 624.5 58.1 1.12 0.23 5.7 1.57 0.97

IC-17-64 776.3

Including

105.5 700.3 594.8 0.52 0.38 4.5 1.19 0.74

642.4 683.4 41.0 0.93 0.18 3.4 1.28 0.79

IC-17-65 686.0

Including

197.0 619.5 422.5 1.04 0.32 4.2 1.61 1.00

346.4 484.1 137.7 1.56 0.29 3.4 2.07 1.28

IC-17-66

1050.4

including

62.5 126.1 63.6 4.77 0.01 0.9 4.80 2.97

173.5 1050.4 876.9 0.32 0.37 2.8 0.95 0.59

173.5 277.1 103.6 0.58 0.68 2.8 1.71 1.06

975.4 1027.4 52.0 1.04 0.28 3.4 1.54 0.95

IC-17-67 689.3

Including

224.3 641.4 417.1 1.02 0.33 3.6 1.60 0.99

352.0 459.4 107.4 1.58 0.38 4.2 2.25 1.39

IC-17-68

948.4

including

711.4 948.4 237.0 0.36 0.38 6.6 1.06 0.66

711.4 749.4 38.0 0.27 1.01 13.0 2.07 1.28

904.0 948.4 44.4 0.93 0.09 3.5 1.12 0.70

IC-17-69 1200.1

Including

246.1 1200.1 954.0 0.38 0.31 2.5 0.91 0.57

441.4 559.4 118.0 0.71 0.38 1.9 1.35 0.84

IC-17-70

1138.7

including

212.0 1137.0 925.0 0.71 0.46 2.6 1.49 0.92

301.4 792.4 491.0 0.98 0.60 3.9 2.00 1.24

342.6 447.2 104.6 1.14 1.11 4.2 2.99 1.85

IC-17-71 1006.1

Including

306.3 1006.1 699.8 0.87 0.51 2.4 1.72 1.07

511.4 697.7 186.3 1.49 0.74 3.6 2.73 1.69

IC-17-72 1329.4

Including

400.0 1258.1 858.1 0.86 0.51 2.4 1.71 1.06

498.9 612.2 113.3 2.98 1.56 4.4 5.56 3.44

IC-17-73 603.4

Including

224.0 603.4 379.4 0.33 0.35 4.8 0.96 0.59

546.4 603.4 57.0 1.16 0.18 4.4 1.51 0.94

Note: The reported equivalent grades in the table above are derived from calculating t he revenues for gold, copper and silver f or each assay

interval at the following metal prices: $1275 per ounce for gold; $3.00 per pound for copper; and $17.50 per ounce of silver. T he gold equivalent

grade converts the copper and silver values to the equivalent amount of gold and adds them t ogether. The copper equivalent grad e coverts the

interval’s gold and silver values to the equivalent amount of copper and adds them together

The drill holes listed above were oriented using historical info rmation and were designed to intercept the mineralized target d own plunge of the

strike to the zone as closely as topographic constraints permi tted. This orientation will be refined with additional drilling, but current information

indicates that the intervals listed above are a reasonable estimate of true thickness of the mineralized zones.

The reserves and resources for Iron Cap used in the 2016 KSM Technical Report are as follows:

2016 Iron Cap Diluted Mineral Reserves at US$1200 Gold, US$2.70 Copper and US$17.50 Silver

Reserve

Category

Tonnes

(millions)

Average Grades Contained Metal

Gold

(gpt)

Copper

(%)

Silver

(gpt)

Moly

(ppm)

Gold

(million

ounces)

Copper

(million

pounds)

Silver

(million

ounces)

Moly

(million

pounds)

Indicated 347 0.51 0.23 4.5 14 5.7 1,758 50 11

Inferred 369 0.42 0.22 2.2 21 5.0 1,791 26 17

Note: The Mineral Resources reported above are inclusive of Mineral Reserves. Mineral Resources which are not Mineral Reserves do not have

demonstrated economic viability. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral

Resources with continued exploration.

*For details on the resource and reserve estimates, please see the news release of November 7th 2016.

Exploration activities by Seabridge at th e KSM Project are conducted under the supervis ion of William E. Threlkeld, Registered Professional

Geo

logist, Senior Vice President of the Company and a Qualified Person as defi ned by National Instrument 43-101. Mr. Threlkeld has reviewed

and approved

this news release. An ongoing and rigorous quality cont rol/quality assurance protocol is employed in all Seabridge dril ling

campaigns.

This program includes blank and refe rence standards; in addition, all copper assays exceeding 0.25% Cu are re-analyz ed using ore

grade analyti

cal techniques. Random cross-check analyses are conducted at a second external laboratory on at least 10% of the d rill samples.

amples are assayed at ISO and ASTM certified laboratories in Va ncouver, B.C., using fire assay atomic adsorption methods for g old and ICP

methods for other eleme

nts.

Seabridge Gold holds a 100% interest in several North American gol d resource projects. The Company’s principal assets are the KSM and Iskut

properti

es located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada’s Northwest Territories. For a

break

down of Seabridge’s mineral reserves and resources by pr oject and category please visit the Company’s websit e at

http://ww

w.seabridgegold.net/resources.php.

Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the

adequacy or accuracy of this release.

ll reserve and resource estimates reported by the Corporation were calculated in accordance with the Canadian National Instrum ent

43-101

and the Canadian Institute of Mining and Metallurgy Classification system. These standards diff er significantly from the

requirements of the U.S. Securities and Exchange Commission. Mi neral resources which are not mineral reserves do not have

demonstrated economic viability.

This document contains "forward-l ooking information" within t he meaning of Canadian securities l egislation and "forward-looking

statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and thes e

statements, referred

to herein as "forwa rd-looking statements" are made as of the date of this document. Forward-looking statements

relate

to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events

and include, but are not limi

ted to, statements with respect to: (i) the promise which could be offered by making revisions to the KS M’s

mine plan to

mine Iron Cap earlier than Kerr or Sulphurets potentially substantially improving project economics due to proximi ty to

the proposed ore conveyance tunnel and the related reduction in r equired infrastructure as well as earlier processing of higher value

ore;

(ii) the expectation of substantial resource additions at Iron Cap of higher grade gold and copper; (iii) the plan that th is year’s

program at Iron

Cap would expand t he known zones of mineralization, fill in some of the holes in past drilling and move these n ewly

defined intervals towards

reserve definition; (iv) the estimated amount and grade of mineral resources at KSM’s Iron Cap deposit; and

(v) the repo

rted intercepts being a reasonable estimate of true thickness of the miner alized zones. Any statements that express or

involve discussions with respect to predictions, expectations, beliefs, plans, projections, obj ectives or future events or perf ormance

(often, but not alway s, using words or phrases such as "expects", "anticipates", "p lans", "projects" , "estimates", "envisages",

"assumes", "intends", "strategy", " goals", "objectives" or variatio ns thereof or stating that cer tain actions, events or result s "may",

"could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressio ns) are

not statements of historical fact and may be forward-looking statements.

All forward-looking statements are based on Seabridge's or its consultants' curr ent beliefs as well as various assumptions made by

them an

d information currently available to them. The principl e assumptions are listed above, but others include: (i) the new r esource

for the Iron Cap dep

osit having an average grades higher than the Kerr deposit; (ii) the presence of and continuity of metals a t the

roject between drill holes, including at modeled grades; (ii) that costs of mining the Iron Cap deposit will be comparable to mining the

err deposit; (iii) the capaciti es of various machinery and equi pment; (iv) the avail ability of personnel, ma chinery and equipm ent at

estima

ted prices; (v) exchange rates; (vi) metals sales prices; (vii) block net smelter return values; (viii) conceptual cave f ootprints,

draw points and h

eights; (ix) appropriate discount rates; (x) tax rates and royalty rates applicable to the proposed mining operation; (xi)

financing structure and costs; (xii) anticipat ed mining losses and diluti on; (xiii) metallurgical performance; (xiv) reasonable

contingency requirements; (xv) success in r ealizing proposed operations; (xvi) receipt of regula tory approvals on acceptable te rms;

and (xvii) the negotiation of satisfactory terms with impacted Treaty and Fi rst Nations groups. Although management considers these

assumptions to be reasonable based on informatio n currently available to it, they may prove to be incorrect. Many forward-looki ng

statements are made assuming the correctness of other forward looking statements, such as statem ents of net present value and

internal rates of return, which are based on most of the other forward-looking statements and assumptions herein. The cost

information is also prepared using current values, but the time for incurring the costs will be in the future and it is assumed costs will

remain stable over the relevant period.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that

estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future

experience. We caution readers not to place undue reliance on these forw ard-looking statements as a number of important factors

could cause the actual outcomes to differ mate rially from the beliefs, plans, objectives, expectations, antic ipations, estimate s

assumptions and intentions expressed in such fo rward-looking statements. These risk factors may be generally stated as the risk that

the assumptions and estimates expressed above do not occur, but specifically include, without limitation: risks relating to variations in

the mineral content within the material i dentified as mineral reserves or mineral resources from that predicted; variations in rates of

recovery and extraction; developments in world metals markets; risks relating to fluctuations in the Canadian dollar relative t o the US

dollar; increases in the estimated capital and operating costs or unanticipated costs; difficulties at tracting the necessary wo rk force;

increases in financing costs or adverse changes to the terms of avai lable financing, if any; tax rates or royalties being great er than

assumed; changes in development or mining plans due to changes in l ogistical, technical or other factors; changes in project

parameters as plans continue to be re fined; risks relating to receipt of regulatory approvals or set tlement of an agreement wit h

impacted First Nations groups; the ef fects of competition in the markets in which Seabridge oper ates; operational and infrastru cture

risks and the additional risks described in Seabridge's Annual In formation Form filed with SEDAR in Canada (available at

www.sedar.com) for the year ended December 31, 2016 and in the Corporation' s Annual Report Form 40-F filed with the U.S. Securities

and Exchange Commission on EDGAR (available at www.sec.gov/edgar.shtml). Seabridge cautions that the fo regoing list of factors that

may affect future results is not exhaustive.

When relying on our forward-looking statements to make decisions with respect to Seabridge, investors and others should carefully

consider the foregoing factors and other uncertainties and potential events. Seabridge does not undertake to update any forward-

looking statement, whether written or oral, that may be made from time to time by Seabridge or on our behalf, except as required by

law.

ON BEHALF OF THE BOARD

"Rudi Fronk"

Chairman and C.E.O.

For further information, please contact:

Rudi P. Fronk, Chairman and C.E.O.

Tel: (416) 367-9292 · Fax: (416) 367-2711

Email: [email protected]

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