Mr. Rudi Fronk reports

SEABRIDGE GOLD ANNOUNCES SIGNING OF UNDERWRITING AGREEMENT FOR PREVIOUSLY ANNOUNCED BOUGHT DEAL PUBLIC OFFERING OF COMMON SHARES

Seabridge Gold Inc., in connection with its previously announced public offering of common shares of the company on March 29, 2017, has entered into an underwriting agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and Cantor Fitzgerald Canada Corp. and including Paradigm Capital Inc. to sell one million common shares at a price of $14.30 per common share for gross proceeds of $14.3-million. In addition, the company has granted the underwriters an option to purchase from the company up to an additional 100,000 common shares at the same price as is applicable to the common share offering for additional gross proceeds of up to $1.43-million. The option is exercisable at any time for a period of 30 days after and including the closing date of the common share offering.

The company intends to use the net proceeds from the common share offering to continue to advance the its KSM and Iskut projects and for general corporate purposes.

As previously announced, in a concurrent offering, the underwriters have agreed to purchase, on a bought deal private placement basis, one million flow-through common shares of the company at a price of $20 per flow-through share for gross proceeds of $20-million. In addition, the company will grant the underwriters an option to purchase from the company up to an additional 100,000 flow-through shares at the same price as is applicable to the flow-through share offering. The option is exercisable up to one week prior to the closing date of the flow-through share offering. The aggregate gross proceeds of both offerings is $34.3-million.

The gross proceeds from the flow-through share offering will be used to finance the 2017 exploration program at the company's KSM and Iskut projects in northwestern British Columbia, Canada.

Seabridge chairman and chief executive officer Rudi Fronk noted: "This year's exploration program includes drilling some of the most exciting targets in our history. We also aim to continue to improve the prospective economics of our KSM project. Increasing gold ownership per share remains an important objective for Seabridge. As in previous years, we are confident that this year's programs should add more than sufficient resource ounces of gold to offset the share issuances announced today."

The flow-through share offering is being made by way of private placement in Canada. The flow-through shares will not be registered in the United States, although some of the flow-through shares may be reoffered or resold into the U.S. to accredited investors pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933. Any such flow-through shares will be characterized as restricted securities under the U.S. Securities Act. The flow-through shares will be subject to a four-month hold period.

The common shares is being offered in Canada pursuant to a short form prospectus, and is being offered in the U.S. under a registration statement on Form F-10 registering the common shares under the U.S. Securities Act, as amended, pursuant to the multijurisdictional disclosure system (MJDS), and may also be offered on a private placement basis in certain jurisdictions outside of Canada and the U.S. pursuant to applicable prospectus exemptions.

An amended preliminary short form prospectus in respect of the common share offering that includes pricing and related information will be filed later today with the securities regulatory authorities in Canada in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and with the U.S. Securities and Exchange Commission under the company's registration statement on Form F-10 under the MJDS. A final short form prospectus in respect of the common share offering will be filed with the same regulatory authorities in Canada and the U.S.

The common share offering as well as the flow-through share offering are expected to close on or about April 27, 2017. Both the common share offering and flow-through share offering are subject to customary closing conditions including, but not limited to, the listing of the common shares and flow-through shares on the Toronto Stock Exchange and the New York Stock Exchange, and the receipt of all necessary approvals, including the approval of the TSX and the NYSE.

Copies of the final short form prospectus relating to the common shares may be obtained by visiting the SEC's website, on SEDAR, and from Canaccord Genuity or Cantor Fitzgerald Canada.

About Seabridge Gold Inc.

Seabridge holds a 100-per-cent interest in several North American gold resource projects. The company's principal assets are the KSM and Snip gold properties located near Stewart, B.C., and the Courageous Lake gold project located in Northwest Territories.

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