Mr. Rudi Fronk reports

SEABRIDGE GOLD TO EXPLORE WYOMING FOR GOLD AND CRITICAL MINERALS

Seabridge Gold Inc. has executed a purchase agreement with Orogen Royalties Inc. to acquire a 100-per-cent interest in properties and data of the Slaughterhouse project in southern Wyoming. This purchase includes 163 U.S. mining claims, geophysical survey results and geological mapping, sampling, and prospect evaluation. The Slaughterhouse project has been evaluated over the past several years by Orogen.

Southern Wyoming has been known for over a century as a copper and gold camp, but the historical occurrences have not had the comprehensive work required to explain its mineral deposits. In particular, copper and gold are typically associated with abundant hematite, an unusual feature which is found in a number of higher-grade mines elsewhere. Orogen's effective and persistent effort has built a compelling deposit concept for an undiscovered large and high-grade gold deposit with significant critical metals co-products.

Seabridge senior vice-president of exploration, Bill Threlkeld, noted that "hematite iron oxide copper-gold (IOCG) deposits -- including world-class giants like Olympic Dam and Prominent Hill in South Australia -- are highly prized because they can offer superior grades compared to porphyry deposits including concentrations of critical minerals. Our team likes the challenge of this specific target type because of its potential for a substantial discovery, and it offers an opportunity to advance exploration methods and geological models that have been underutilized in the Western US."

Chair and chief executive officer Rudi Fronk commented: "Our approach to the Slaughterhouse project will employ a novel concept that has never been tested in Wyoming with modern exploration thinking and tools. Although this is an early-stage project, we believe we have the potential to make a discovery that opens new possibilities for gold and critical metals exploration. We also think that using new technologies and aggressive exploration could unlock mineral systems relatively quickly."

Pursuant to the purchase agreement, Seabridge has agreed to purchase 100 per cent of the project for $300,000 (U.S.) and provide additional milestone payments totalling up to $2.55-million (U.S.) upon successful completion of specific goals. Orogen will retain a 2.5-per-cent net smelter return (NSR) royalty on the existing claims (subject to a partial buy down) and a 0.5-per-cent to 1-per-cent NSR royalty within a broader area of mutual interest. The transaction remains subject to customary closing conditions.

About Seabridge Gold Inc.

Seabridge Gold holds a 100-per-cent interest in several North American gold projects. Its principal assets are the KSM and Bronson Corridor projects in British Columbia's Golden Triangle. Additional projects include Snowstorm in Nevada's Getchell gold belt, and the 3 Aces project in Yukon.

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