Mr. Rudi Fronk reports

SEABRIDGE GOLD ANNOUNCES AGREEMENT FOR AT-THE-MARKET OFFERING

Seabridge Gold Inc. has entered into a controlled equity offering sales agreement dated Jan. 22, 2021 with Cantor Fitzgerald & Co. and B. Riley Securities Inc. Pursuant to the sales agreement, the company will be entitled, at its discretion and from time to time during the term of the sales agreement, to sell, through the lead agent, such number of common shares of the company that would result in aggregate gross proceeds to the company of up to $75-million (U.S.). Sales of the common shares, if any, will be made in at-the-market distributions, as defined in National Instrument 44-102 -- Shelf Distributions, directly on the New York Stock Exchange (NYSE) or on any other existing trading market in the United States. No offers or sales of common shares will be made in Canada through the facilities of the Toronto Stock Exchange or other trading markets.

The program can be in effect until Seabridge's current $775-million (U.S.) shelf registration statement expires in January, 2023. Net proceeds from the ATM facility, if any, will be used to advance non-flow-through eligible exploration and development of the company's projects, potential future acquisitions, and for working capital and general corporate purposes.

The offering will be under a prospectus supplement dated Jan. 22, 2021, to the company's existing Canadian short-form base-shelf prospectus and U.S. registration statement on Form F-10, as amended (File No. 333-251081), dated Dec. 3, 2020. The prospectus supplement will be filed with securities commissions in Canada, and the U.S. Securities and Exchange Commission (SEC). The offering documents will contain important detailed information about the securities being offered. Before you invest, you should read the offering documents and the documents incorporated therein for more complete information about the company and the offering. Copies of the sales agreement and the offering documents will be available for free by visiting the company's profiles on the SEDAR website maintained by the Canadian Securities Administrators on SEDAR or the SEC's website, as applicable.

About Seabridge Gold Inc.

Seabridge holds a 100-per-cent interest in several North American gold projects. Seabridge's principal assets are the KSM project and Iskut project located near Stewart, B.C., Canada, the Courageous Lake gold project located in Canada's Northwest Territories, and Snowstorm in the Getchell gold belt of northern Nevada. For a full breakdown of Seabridge's mineral reserves and mineral resources by category, please visit Seabridge's website.

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