Major New Gold/Copper Resource at KSM's Iron Cap Zone 

TORONTO - An independent mineral resource model for Seabridge Gold's Iron Cap Zone at its 100% owned KSM project estimates a new indicated resource containing 5.1 million ounces of gold and 1.7 billion pounds of copper immediately adjacent to the Mitchell deposit. The indicated resource is flanked by a halo of inferred resources containing an additional 3.4 million ounces of gold and 1.3 billion pounds of copper. The Iron Cap resource estimate was prepared by Resource Modeling Inc. ("RMI") of Stites, Idaho and will be incorporated into an updated Preliminary Feasibility Study ("PFS") scheduled for completion in April 2011.

Seabridge Gold President and CEO Rudi Fronk said "the Iron Cap resource has exceeded our expectations. Our objective was to book a five million ounce gold resource in all categories. In fact, we have achieved more than five million ounces of indicated resources with a superior copper grade which should help us optimize mine plans to maintain a favorable copper head grade. We expect that most of the indicated resource should qualify as reserves in our new PFS and improve the economics for the KSM project." RMI estimated gold and copper grades using inverse distance weighting methods within geologically constrained gold and copper grade domains that were constructed for the Iron Cap zone. The grade models were validated visually and by comparisons with nearest neighbor models. The estimated block grades were classified into indicated and inferred mineral resource categories based on mineralized continuity that was determined both visually and statistically (i.e. variogram ranges) together with the proximity to drill hole data. To facilitate comparisons with previous resource estimates, recoverable gold equivalent grades were calculated using the same $650 gold price with a 70% recovery rate and a $2.00 copper price with an 85% recovery rate. The cutoff grade for resource tabulation was set at 0.50 grams per tonne (g/t) gold equivalent, also consistent with the cutoff grade used for previous KSM resource estimates. The resource model for Iron Cap incorporates data from a total of 51 core holes (41 drilled by Seabridge in 2010 plus 10 holes drilled by previous operators) totaling about 17,700 meters. Grades from the 10 holes drilled by previous operators were compared with nearby holes drilled by Seabridge. The grades of the older holes were found to be comparable with the newer holes. For example, the average gold grade of the old and new holes within 50 meters of one another was 0.43 and 0.45 g/t, respectively. RMI reviewed the quality assurance/quality control protocols and results from Seabridge's 2010 drilling program and has deemed that the number and type of gold and copper standard reference materials (standards, blanks, and duplicates) were reasonable. Based on the performance of those standard reference materials, RMI believes that the Seabridge drill samples are reproducible and suitable for estimating mineral resources. RMI constructed a preliminary block model in August 2010 using ten historic and eight 2010 Seabridge drill holes that had been completed as of that date. After the 2010 drilling campaign was completed, RMI compared the grades from 33 Seabridge core holes that were completed after the preliminary block model had been constructed. This comparison showed that the newly obtained drill hole intervals were slightly higher in grade (gold, copper, silver, and molybdenum) than the estimated preliminary model blocks. The infill drilling program also validated and expanded the volume of mineralization that was established by the initial ten drill holes. 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].