Mr. Rudi Fronk reports

SEABRIDGE GOLD'S 2023 ISKUT DRILL PROGRAM RAMPS UP FOCUSED ON MAKING NEW COPPER-GOLD PORPHYRY DISCOVERIES

Seabridge Gold Inc. has begun drilling at its 100-per-cent-owned Iskut property in northwestern British Columbia's Golden Triangle. Initial work is on the Snip North target and will then expand to the Bronson Slope target in coming weeks. The first of three helicopter-portable core drills has been mobilized to site and two other drills will arrive in coming weeks. The 2023 Iskut program plans to complete 12 to 15 drill holes exceeding 12,000 metres.

Rudi Fronk, Seabridge chairman and chief executive officer, commented: "We are excited to get our program started early in the field season after last years success at Iskut. At Snip North, we have extensive evidence of copper-gold mineralization in historical drilling and deep-penetrating geophysical surveys. As the season matures and snow melts, we'll move upslope, following a pronounced regional structural tend, to continue work below the Bronson Slope target. Our team is enthusiastic that both these targets are new copper-gold rich porphyry systems. In addition, we think there is significant potential to expand the existing Bronson Slope mineral resource."

Regional geophysical surveys and surface geology continue to confirm a district-scale structural feature that connects the Quartz Rise, Bronson Slope and Snip North targets. All the recognized mineral occurrences at Iskut are interpreted as high-level expressions of Cu-Au (copper-gold) porphyry systems aligned along this regional structural trend. The trend has similar characteristics to the one that hosts a cluster of porphyry systems Seabridge has defined at its nearby KSM project.

An MT (magnetotellurics) survey that began last season is being expanded at Snip North. This survey is investigating extensive sericite-pyrite alteration and Cu-Au geochemical anomalies in sedimentary rocks identified by 32 shallow diamond core holes previous operators drilled. Deeper drilling is planned to identify the source of this alteration and related copper-gold concentrations. The initial objective is to complete 3,500 metres of drilling in three to four holes at Snip North, which could then be expanded depending on results.

The main part of the 2023 program will continue the drilling below the Bronson Slope resource, which started last year and discovered a large, steeply plunging quartz-magnetite breccia pipe with clear indications of being sourced from hydrothermal eruptions out of an intrusion. The copper and gold concentrations within and on the margins of this breccia pipe are evidence the source intrusion could host a significant mineral system. Results from drilling in 2022 also identified copper and gold grades in sedimentary rocks outside of the Bronson Slope mineral resource. Resource expansion potential will be evaluated from results in the shallow parts of holes targeting the deeper breccia pipe and its intrusive source.

Exploration activities by Seabridge at the Iskut project are being conducted under the supervision of William E. Threlkeld, registered professional geologist, senior vice-president of the company and a qualified person as defined by National Instrument 43-101. Mr. Threlkeld has reviewed and approved this news release. A continuing and rigorous quality control/quality assurance protocol is employed in all Seabridge exploration campaigns. This program includes blank, duplicate and reference standards. Cross-check analyses are conducted at a second external laboratory on at least 10 per cent of the drill samples.

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 Yukon. For a full breakdown of Seabridge's mineral reserves and mineral resources by category, please visit the company's website.

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