Mr. Rudi Fronk reports

DECISION TO ISSUE CONSTRUCTION PERMITS FOR SEABRIDGE GOLD'S KSM MITCHELL TREATY TUNNELS DELAYED

Seabridge Gold Inc. has received a letter from the Ministry of Mining and Critical Minerals of British Columbia advising that a decision to issue permit amendments for construction and operation of the Mitchell Treaty Tunnels (MTT) over their full length (the MTT authorization) has been delayed.

The MTT are an important infrastructure component of the KSM project consisting of two parallel tunnels connecting the mining operations in the Mitchell Valley with the processing operations in the Treaty Valley. Approximately 12.5 kilometres of the MTT will pass through mineral claims owned by a third party, Tudor Gold Corp. Seabridge holds a licence of occupation for the MTT route and authorizations to construct the MTT portals at three sites and approximately 100 metres of tunnel length at each portal location (including over areas of mineral claims owned by Tudor).

The decision maker reviewing the application for the MTT authorization has referenced a legal action commenced by Tudor challenging whether KSM's conditional mineral reserve (the CMR) for the MTT applies to Tudor's mineral claims. The question is whether the CMR applies to mineral claims that pre-existed the CMR. The terms of the CMR for the MTT state that "A free miner must not obstruct, endanger or interfere with the construction, operation or maintenance of [the MTT]." The ministry had previously confirmed on multiple occasions in writing that the CMR applies to Tudor's mineral claims. The decision maker has advised the company that he is not going to make a decision on its permit amendment application until the legal issue is resolved.

Seabridge chair and chief executive officer Rudi Fronk commented: "We are confident that the CMR is a means by which the B.C. government can legally reserve land for construction of infrastructure like the MTT over government owned lands, including lands subject to third party mineral claims such as Tudor's. KSM has been determined to be in the best interests of the province of B.C. on numerous occasions." Mr. Fronk noted that there are no plans to commence construction of the MTT until a final feasibility study has been completed.

Mr. Fronk also stated: "We have always been clear that if Tudor has an approved and permitted mine plan for its Goldstorm project, then we are willing to sit down and find an amicable solution to the MTT issue. However, agreeing to move the MTT route before Tudor has a defined project makes no sense."

About Seabridge Gold Inc.

Seabridge Gold holds a 100-per-cent interest in several North American gold projects. Its principal assets are the KSM and Iskut projects in British Columbia's Golden Triangle. Additional projects include Courageous Lake in the Northwest Territories, Snowstorm in Nevada's Getchell gold belt and the 3 Aces project in Yukon.

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