Seabridge Gold Announces $80M Offering Of 6.54M Shares At $12.25 Each With RBC Capital, Cantor Fitzgerald; $20M Private Placement With Strategic Investor

Seabridge Gold Inc. (TSX:SEA) (NYSE:SA) ("Seabridge" or the "Company") announced today it has entered into an agreement with RBC Capital Markets and Cantor Fitzgerald Canada Corporation (together the "Co-Lead Underwriters"), as co-lead underwriters and joint bookrunners on behalf of a syndicate of underwriters (collectively, the "Underwriters"), to purchase, on a bought deal basis, 6,540,000 common shares of the Company (the "Offered Shares") at the price of US$12.25 per Offered Share (the "Issue Price") for aggregate gross proceeds of approximately US$80 million (the "Offering"). The Underwriters will have an option to purchase up to an additional 15% of the Offered Shares issued in the Offering at the Issue Price to cover over-allotments, exercisable in whole or in part, at any time until 30 days after the closing of the Offering.

Concurrent with the Offering, Seabridge has also entered into a subscription agreement with a strategic investor (the "Strategic Investor") to purchase 1,640,000 common shares of the Company on substantially the same terms as the Offering for aggregate gross proceeds of approximately US$20 million (the "Private Placement"). Seabridge expects to raise aggregate gross proceeds of approximately US$100 million (equivalent to approximately C$143 million) between both the Offering and the Private Placement (together, the "Financing").