Mr. Rudi Fronk reports

SEABRIDGE GOLD FILES FIRST QUARTER FINANCIAL STATEMENTS AND MD&A

Seabridge Gold Inc. has filed its interim financial statements and management's discussion and analysis for the three-month period ended March 31, 2023, on SEDAR. These statements are also available on Seabridge's website.

On May 2, 2023, Seabridge published its 2022 annual report to shareholders entitled "Substantially Started" which refers to the physical improvements at the KSM site designed to extend its Environmental Assessment Certificate for the life of project. The 2022 annual report is available on the company's website.

On May 11, 2023, Seabridge announced that its wholly owned subsidiary, KSM Mining ULC (KSMCo), has agreed to the principal terms of a royalty agreement under which Sprott Resource Streaming and Royalty Corp. pays KSMCo $150-million (U.S.) (approximately $200-million (Canadian) at the current exchange rate) and KSMCo grants Sprott a 1.2-per-cent net smelter royalty on its 100-per-cent-owned KSM project located in Northern British Columbia, Canada. The proceeds will be used to complete the physical works at KSM for which Seabridge expects to achieve a designation of substantially started from the B.C. government. Closing of the transaction is subject to customary conditions including settling final documentation and obtaining all necessary third-party consents and regulatory approvals. Please see news release.

Chairman and chief executive officer Rudi Fronk said, "This is going to be a very busy and productive year as we move forward with site infrastructure at KSM and exploration drilling at three promising projects in Canada and the U.S."

About Seabridge Gold Inc.

Seabridge holds a 100-per-cent interest in several North American gold projects. Seabridge's assets include the KSM and Iskut projects located in northwest British Columbia, Canada's Golden Triangle, the Courageous Lake project located in Canada's Northwest Territories, the Snowstorm project in the Getchell gold belt of Northern Nevada and the 3 Aces project set in the Yukon Territory.