Mr. Rudi Fronk reports

SEABRIDGE GOLD BEGINS DRILLING AT THE 3 ACES PROJECT

Drilling has commenced at Seabridge Gold Inc.'s wholly owned 3 Aces project in Canada's Yukon to complete the testing of a comprehensive exploration model. The program is scheduled to complete 7,500 metres of core and reverse circulation drilling in the central core area (CCA) of the 3 Aces project. Initial targets will focus on expanding mineralized zones on the Hearts and Spades targets.

Rudi Fronk, Seabridge chairman and chief executive officer, commented: "We are looking forward to executing our first full program at 3 Aces. Our team has been refining our new model and checking its concepts against field observations. They believe this model will provide the basis to integrate past and current drill results into meaningful zones of mineralization. We expect this program will help us prioritize mineralized zones and take us steps closer to delineating resources."

Mr. Fronk noted that Seabridge Gold's success as a company has relied extensively upon reserve and resource expansion at its 100-per-cent-owned KSM and Courageous Lake projects: "We are proud of our exploration record and we are now gunning for our next round of exploration successes at our 3 Aces and Iskut projects. The preparatory work has been done. At 3 Aces, we are looking for the continuity that eluded previous operators and which is needed for resource delineation. At Iskut, we are focusing on expansion of the Bronson deposit and the discovery of new copper-gold porphyries hinted at in last year's drilling."

The 3 Aces program plans to test four target zones: Spades, Hearts, Hearts West and Clubs. In these zones, dilation at the contacts between thick phyllite sequences and coarse interbedded sandstones and conglomerates along second-generation folding event (F2) has consistently shown better gold values. Evaluations of the target areas will include:

• The gold mineralization in historical drill holes that has not been pursued down plunge of the F2 folds;
• Untested synform-antiform pairs of the F2 folds, identified within the extensive gold-in-soil anomaly of the CCA;
• Interaction between structurally prepared rocks of the earlier F1 folding and the mineralizing F2 folds.

3 Aces was acquired by Seabridge in March, 2020, as a district-scale, orogenic gold project consisting of 1,734 claims covering 357 square kilometres (35,700 hectares). The property is in a readily accessible part of southeastern Yukon, on the eastern margin of the Selwyn basin, a thick package of sedimentary rocks extending across Yukon and host to several enormous base metal deposits (Howard's Pass district). Hosted in Hyland group rocks, interbedded clastics and carbonate sediments are exposed near a regional tectonic boundary. A polyphase fold and fault system overprints the stratigraphy, creating ideal traps for gold-bearing fluids expressed as quartz veins. Seabridge believe the 3 Aces target is consistent with some of the biggest and richest gold deposits in the world, including the California mother lode belt, Juneau gold belt, Muruntau in Uzbekistan and Obuasi in Ghana.

Seabridge holds a 100-per-cent interest in several North American gold projects. Seabridge's assets include the KSM and Iskut projects located in northwestern 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.

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