Deep Kerr Inferred Resource Grows To Over One Billion Tonnes

TORONTO - Seabridge Gold Inc. reported an updated independent mineral resource estimate for the Deep Kerr Deposit at its 100%-owned KSM Project in northwestern British Columbia, Canada that now contains an inferred resource of 1.01 billion tonnes grading 0.53% copper and 0.35 g/T gold (11.3 million ounces of gold and 11.8 billion pounds of copper), an increase of 3.2 million ounces of gold and 2.1 billion pounds of copper over last years estimate.

Seabridge Chairman and CEO Rudi Fronk noted that The size of Deep Kerr continues to grow with no diminishment of grade. Furthermore, we have not yet found the limits of the immense mineralizing system that created Deep Kerr. In the three years since its discovery, Deep Kerr has taken its place among the world’s largest gold-copper deposits. The shape of the deposit continues to support cost-effective block-cave underground mining methods and the updated resource estimate has been carefully constrained by this mining method.

The 3.2 million ounce increase in gold resources more than offsets the 1.6 million share flow-through financing completed in April 2015 that funded a significant portion of the 2015 drill program. Growing ounces of gold per share remains an important component of Seabridge's corporate strategy, added Mr. Fronk.

The geological model for the Kerr deposit that encompasses Deep Kerr is a north-south trending, steep westerly dipping, tabular intrusive complex with a horizontal extent of 2,400 meters and a vertical extent of at least 2,200 meters. The complex includes higher grade east and west limbs that may coalesce near surface. The west limb is up to 500 meters thick, and the east limb up to 300 meters thick. Last year’s drilling focused on the west limb, successfully confirming continuity of mineralization, as predicted by modeling, and extending the west limb dip projection over 400 meters along a strike length of almost 500 meters. These holes established the western limits of the system as a north-south trending normal fault that placed unaltered fine-grained sedimentary rocks against the mineralized intrusive complex. East of this fault, the mineral system consists of several intrusive bodies, emplaced into an Early-Jurassic sedimentary sequence, with all these rocks containing varying copper and gold grades that warrant further exploration.