Iron Cap Drill Results Confirm Potentially Bulk Minable Deposit 

TORONTO - Rudi P. Fronk, President and CEO of Seabridge Gold Inc. said results from the first eight holes drilled this year at the Iron Cap target have confirmed a new large potentially bulk minable deposit at KSM, in British Columbia, which could substantially improve overall project economics. Results to date include wide intercepts of gold, copper and silver grades above the KSM average. The Iron Cap zone is at least 900 meters in strike length, 400 meters wide and up to 350 meters thick and is located immediately adjacent to the Mitchell zone. Infill drilling will now proceed at Iron Cap with the aim of establishing new proven and probable reserves to be included in future mine plans for the project.

Iron Cap appears to have zones of higher grade copper which could be blended with ore from Mitchell to maintain KSM╒s targeted 0.20% average copper grade to the mill. This average head grade is important because it generates a higher grade concentrate without sacrificing recoveries, which in turn commands better smelter returns and reduces shipping costs. The current mine plan calls for the early development of the more distant Kerr and Sulphurets zones to maintain copper head grades to the mill. Sequencing Iron Cap before Kerr and Sulphurets could have multiple potential benefits including lower operating and capital costs, deferring significant expenditures and extending mine life.

The Company commenced a work program to advance its 100% owned Courageous Lake gold project, in the Northwest Territories, towards a National Instrument 43-101 compliant Preliminary Feasibility Study. The main objective of the 2010 program is to conduct further diamond drilling designed to upgrade a substantial portion of the existing inferred resource at the project to the measured and indicated resource categories. The 2010 program also includes environmental and permitting work, engineering and metallurgical consulting and geotechnical, environmental and definition drilling. Approximately 18,000 meters of diamond drilling is planned in 40 holes which will target about half of the inferred resource.

Results from the first 11 holes have exceeded expectations, increasing confidence in the current resource and potentially expanding it. The results to date point towards success in upgrading inferred resources to higher categories. Mineralization is where it is expected, demonstrating that the Courageous Lake resource model is predictive. Grades are somewhat better than predicted by the model and we are also finding new mineralized zones. Overall, the data suggests that resource ounces and perhaps grade could increase as a result of this program, in addition to upgrading resource categories.

The Courageous Lake project consists of 27,263 hectares (67,366 acres) covering 53 kilometers (33 miles) of a greenstone belt in Canada's Northwest Territories, including the two kilometer long FAT deposit.

The company's address is 106 Front Street East, Suite 400, Toronto, ON M5A 1E1, 416.367.9292, fax: 416.367.2711, email: [email protected].