Seabridge Gold Plans $15M Drill Campaign Targeting High-Grade

Seabridge Gold Plans $15M Drill Campaign Targeting High-Grade at KSM 
Program to Focus on Resource Estimate at Deep Kerr Core Zone
Discovery 
Three More Prospective High-Grade Core Zones Also Targeted in Next
Year's Program 
TORONTO, CANADA -- (Marketwire) -- 12/12/12 -- Seabridge Gold
(TSX:SEA)(NYSE:SA) today reported final results from its 2012 drill
program designed to search for high-grade core zones underlying its
very large KSM gold-copper project. The remaining hole at Deep Kerr
provides strong confirmation that the Deep Kerr discovery has the
potential for a very large tonnage of high-grade copper and gold
mineralization; the hole reported long runs of elevated copper
including 22 meters of 0.98%. Drilling also found three more targets
with favorable markers characteristic of core zones (see attached map
at http://media3.marketwire.com/docs/sea1212map.pdf). The $15 million
2013 drill program to pursue these targets is expected to begin in
June, 2013. 
World-class gold-copper porphyry districts such as KSM customarily
consist of deeper, magmatic source ores linked upwards through
transitional porphyries and skarn zones hosted by shallow intrusions,
volcanic and sedimentary rocks to vein systems often characterized as
epithermal deposits. The six deposits 
in the area of KSM demonstrate
this vertical evolutionary architecture. All four porphyry zones at
KSM where reserves have been defined are open at depth and exhibit
the alteration mineralogy and textural indicators that suggest links
to a deeper source.  
This year's program used the evidence of temperature and pressure
variances, geochemical markers and deep penetrating geophysical
surveys to vector from known porphyry mineralization towards
potential source areas. A total of 19,813 meters of core drilling was
completed in the 2012 program resulting in: (1) the extraordinary
Deep Kerr discovery (see release of November 8, 2012); (2) discovery
of three more potential high grade zones at McQuillan, Iron Cap and
North Mitchell (see details below); and (3) discovery of an
unexpected epithermal gold deposit at the Camp Zone (see release of
September 5, 2012). Further results are awaited from another 10 holes
from the Camp Zone. 
Seabridge Chairman and CEO Rudi Fronk noted that "when we began our
search for a core zone at KSM, we assumed that the four main deposits
would probably link to one such zone. We now believe that there may
be several deep seated sources. Our first priority is to generate a
high quality resource for Deep Kerr which could have a very
significant economic impact on the KSM project particularly if it
proves to be accessible from the Sulphurets valley floor by way of an
inclined tunnel. Our second priority is to test the deep potential of
the McQuillan and Iron Cap core zone targets which are ideally
located for ease of access and integration into our project design."  
"We are increasingly confident that this core zone program is the
game-changing development we had hoped for. We have demonstrated that
exceptional exploration potential remains within the KSM project and
that we have the geological team to unlock it. Our aim for next year
is to establish KSM as an unparalleled opportunity for the world's
largest mining companies," Fronk said. 
Following is a summary of results from core zone targets with planned
exploration investment in 2013: 
Deep Kerr Target 
Evaluation of the dip projection at Kerr led to the discovery of the
Deep Kerr deposit. Alteration intensity and higher temperature
alteration mineralogy corresponded with a favorable increase in the
chalcopyrite to pyrite ratio down dip of the existing reserve at
Kerr. Additionally, gold-only mineralization in the periphery of the
deep zone increased in thickness and gold and copper grades showed
more complete overlap within the deep zone. The intersections within
the Deep Kerr target returned some of the highest metal values yet
found in the KSM porphyry systems. Results from drill hole K-12-22
reinforced the discovery of Deep Kerr and continue to support a
significant potential resource expansion of high-grade copper and
gold. Note that this hole deviated from the target zone as it began
to penetrate the best grades. 


 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                     Total                                    Gold    Copper
                     Depth      From        To Thickness     Grade     Grade
Hole ID           (meters)  (meters)  (meters)  (meters)     (g/T)       (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
K-12-22              862.5      21.0     177.0     156.0      0.24      0.65
                          --------------------------------------------------
                          --------------------------------------------------
                               227.0     552.0     325.0      0.27      0.48
                          --------------------------
------------------------
                          --------------------------------------------------
                               754.5     776.5      22.0      0.33      0.98
----------------------------------------------------------------------------
----------------------------------------------------------------------------

 
Plans for exploring and defining the Deep Kerr deposit are designed
as a two stage drill program. Initial drilling will concentrate on
establishing roughly 500 meter drill spacing in the target to confirm
the limits of the Deep Kerr zone. Follow-up and off-set drilling of
the better grades holes will then proceed, to reduce drill hole
spacing to a level that would permit meaningful resource estimation.
It is expected that this part of the program will be active
throughout the summer season and employ up to four diamond drills. 
McQuillan Target 
The McQuillan target is a resistivity anomaly down dip of a discrete
magnetic anomaly in the structural panel below the Mitchell Thrust
Fault and within a broad zone of surface alteration and
mineralization. Altered andesite rocks of the Hazelton Group and
coarse grained porphyritic intrusions were encountered throughout
these drill holes. Drill hole MQ-12-03, azimuth 0 degrees and
inclination of -90 degrees, dominantly encountered post mineral
intrusions and likely defines the north-east limit of the potential
core zone. Hole MQ-12-04, azimuth 335 degrees and -55 degrees, cut
altered and mineralized rocks higher in the mineral system. Drill
hole MQ-12-05, azimuth 335 degrees and dip of -55 degrees,
encountered the upper part of the mineral system down to 815.1 meters
where an intense breccia was intercepted that showed progressive
increases in favorable potassium feldspar, biotite and magnetite
alteration and increasing chalcopyrite to pyrite ratios down hole. At
915.3 meters in this hole, drilling conditions deteriorated while
penetrating a normal fault and the hole was terminated. Drill results
from the McQuillan target continue to be evaluated but appear to
confirm a north-west trending deep gold-copper zone. 


 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                     Total                                     Gold   Copper
                     Depth        From        To Thickness    Grade    Grade
Hole ID           (meters)    (meters)  (meters)  (meters)    (g/T)      (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MQ-12-03               921       474.0     501.0      27.0     1.68     0.01
                          --------------------------------------------------
                          --------------------------------------------------
                                 628.0     678.0      50.0     0.20     0.18
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MQ-12-04             773.3         6.0      24.0      18.0     2.98     0.07
                          --------------------------------------------------
                          --------------------------------------------------
                                 364.0     372.0       8.0     0.92     0.21
                          --------------------------------------------------
                          --------------------------------------------------
                                 656.7     778.4     121.7     0.56     0.02
                          --------------------------------------------------
                          --------------------------------------------------
                           incl. 700.0     720.0      20.0     1.62     0.03
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MQ-12-05             924.3       552.4     835.6     283.2     0.49     0.18
                          --------------------------------------------------
                          --------------------------------------------------
                           incl. 594.0     610.0      16.0     1.43     0.22
                          --------------------------------------------------
                          --------------------------------------------------
                                 643.0     679.0      36.0     1.59     0.24
                          --------------------------------------------------
                          --------------------------------------------------
                                 901.8     905.7   
    3.9     0.56     0.53
----------------------------------------------------------------------------
----------------------------------------------------------------------------

 
McQuillan is located under the ridge line between Mitchell Creek and
Sulphurets Creek and below the Sulphurets deposit. This target could
be exploited from a decline in either the Mitchell or Sulphurets
valleys and current plans have placed drainage tunnels in the
vicinity of this target. The potential value of this target is due in
part to its proximity to planned infrastructure. Two drill holes are
planned for early in the 2013 program to fully evaluate the potential
of the McQuillan target. 
Iron Cap Target 
Iron Cap is nearly contiguous with the Mitchell deposit on the east
and the deep potential on this target sits in an attractive position
for quick integration into the project development plan. All the past
drilling on the Iron Cap deposit has demonstrated that alteration
intensity and chalcopyrite concentrations improve with depth. In
addition, the progression of alteration suites shows that higher
temperature environments exist at depth in Iron Cap. One drill hole
was completed on this target in 2012. Hole IC-12-47 encountered
mineralization that supports potential for a high-grade core zone at
depth; however, the hole deviated severely and the target zone was
not intersected. 


 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                     Total                                     Gold   Copper
                     Depth        From        To Thickness    Grade    Grade
Hole ID           (meters)    (meters)  (meters)  (meters)    (g/T)      (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
IC-12-47             949.5         3.8     949.5     945.7     0.47     0.25
                          --------------------------------------------------
                          --------------------------------------------------
                           incl. 503.0     602.7      99.7     0.81     0.30
                          --------------------------------------------------
                          --------------------------------------------------
                           incl. 679.0     757.0      78.0     0.31     0.47
----------------------------------------------------------------------------
----------------------------------------------------------------------------

 
The proximity to both planned infrastructure and the Mitchell block
cave deposit makes this target a priority. Additional drilling is
planned on the Iron Cap deposit in 2013 to evaluate the potential for
a deep zone under the current reserves. 
North Mitchell Target 
The mineralized and altered intervals beneath the Sulphurets Thrust
Fault intersected by holes M-12-128 and M-12-129 (see release of
September 5, 2012) are interpreted to have intersected the periphery
of a new, blind (or buried) porphyry gold-copper hydrothermal system
at KSM. This target is being called North Mitchell and is represented
by a deep MT low resistivity anomaly between the Mitchell and Iron
Cap deposits. The zone is typified by potassic hornfels in andesite
that is pervasively chlorite altered, with pyrite, magnetite, and
minor but ubiquitous chalcopyrite. These characteristics suggest that
the North Mitchell target is associated with an unknown, very large
and robust mineral system.  
North Mitchell and its well defined MT anomaly are adjacent to the
designed twin Mitchell Access Tunnel which connects the deposits in
Mitchell and Sulphurets valleys with the planned Tailings Management
Facility. The proximity of this target to designed infrastructure
would likely enhance the value of the project. Consequently, this
target remains a priority for additional drilling in 2013. 
National Instrument 43-101 Disclosure. 
Exploration activities at KSM are being conducted by Seabridge
personnel under the supervision of William E. Threlkeld PGeo., Senior
Vice President of Seabridge and a Qualified Person as defined by
National Instrument 43-101. Mr. Threlkeld has reviewed and approved
this news release. An ongoing and rigorous quality control/quality
assurance protocol was employed during the 2012 program including
blank and reference standards in every batch of assays. Cross-check
analyses were conducted at a second external laboratory on 10% of the
samples. Samples were assayed using fire assay atomic adsorption
methods for gold, and ICP methods with atomic adsorption on
concentrations over detection limits for other elements.  
This initial drilling on deep core zone targets is orientated to
optimize the depth penetration and to intersect the identified
targets. Insufficient information is available on the orientation of
these targets consequently it is not known if these drill
intersection represent true widths of mineralized zones. 
Seabridge holds a 100% interest in several North American gold
projects. The Company's principal assets are the KSM property located
near Stewart, British Columbia, Canada and the Courageous Lake gold
project located in Canada's Northwest Territories. For a breakdown of
Seabridge's mineral reserves and mineral resources by category please
visit the Company's website at www.seabridgegold.net/resources.php. 
All reserve and resource estimates reported by the Corporation were
calculated in accordance with the Canadian National Instrument 43-101
and the Canadian Institute of Mining and Metallurgy Classification
system. These standards differ significantly from the requirements of
the U.S. Securities and Exchange Commission. Mineral resources which
are not mineral reserves do not have demonstrated economic viability. 
This document contains "forward-looking information" within the
meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United 
States Private
Securities Litigation Reform Act of 1995. This information and these
statements, referred to herein as "forward-looking statements" are
made as of the date of this document. Forward-looking statements
relate to future events or future performance and reflect current
estimates, predictions, expectations or beliefs regarding future
events and include, but are not limited to, statements with respect
to: (i) the accuracy and potential significance of exploration
results, including whether they represent one or more possible new
high-grade core zones for the KSM project, a sizeable new deposit or
a discovery that can make a very significant or "game-changing"
economic contribution to the KSM project; (ii) the timely completion
of drilling and other exploration programs which may have been
planned or scheduled and the expectation that further drilling or
other exploration activities may take place in the future or that
they may have a particular result, including defining a new resource;
(iii) the prospect that exploration work may enhance the value of KSM
to Seabridge shareholders or make it a compelling opportunity for
other mining companies; and (iv) the accessibility of any new zone
and its integration into mine plans. Any statements that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives or future events or
performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates",
"envisages", "assumes", "intends", "strategy", "goals", "objectives"
or variations thereof or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or
be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be
forward-looking statements.  
All forward-looking statements in this news release and other news
releases issued by Seabridge are based on Seabridge's or its
consultants' current beliefs as well as various assumptions made by
them and information currently available to them. These assumptions
include: (i) the presence of and continuity of metals at the Project
at observed or modeled grades; (ii) the capacities of various
machinery and equipment; (iii) the availability of personnel,
machinery and equipment at estimated prices; (iv) exchange rates; (v)
metals sales prices; (vi) appropriate discount rates; (vii) tax rates
and royalty rates applicable to the proposed mining operation; (viii)
financing structure and costs; (ix) anticipated mining losses and
dilution; (x) metallurgical performance; (xi) reasonable contingency
requirements; (xii) success in realizing proposed operations; (xiii)
receipt of regulatory approvals on acceptable terms, including the
necessary right of way for the proposed tunnels; and (xiv) the
negotiation of satisfactory terms with impacted Treaty and First
Nations groups. Although management considers these assumptions to be
reasonable based on information currently available to it, they may
prove to be incorrect. Many forward-looking statements are made
assuming the correctness of other forward looking statements, such as
statements of net present value and internal rates of return, which
are based on other forward-looking statements and assumptions. The
cost information is also prepared using current values, but the time
for incurring the costs will be in the future and it is assumed costs
will remain stable over the relevant period. 
By their very nature, forward-looking statements involve inherent
risks and uncertainties, both general and specific, and risks exist
that estimates, forecasts, projections and other forward-looking
statements will not be achieved or that assumptions do not reflect
future experience. We caution readers not to place undue reliance on
these forward-looking statements as a number of important factors
could cause the actual outcomes to differ materially from the
beliefs, plans, objectives, expectations, anticipations, estimates
assumptions and intentions expressed in such forward-looking
statements. These risk factors may be generally stated as the risk
that the assumptions and estimates expressed above do not occur, but
specifically include, without limitation: risks relating to
variations in the mineral content within the mineralized material
identified, in particular mineral reserves or mineral resources from
that predicted; variations in rates of recovery and extraction;
developments in world metals markets; risks relating to fluctuations
in the Canadian dollar relative to the US dollar; increases in the
estimated capital and operating costs or unanticipated costs;
difficulties attracting the necessary work force; increases in
financing costs or adverse changes to the terms of available
financing, if any; tax rates or royalties being greater than assumed;
changes in development or mining plans due to changes in logistical,
technical or other factors; changes in project parameters as plans
continue to be refined; risks relating to receipt of regulatory
approvals or settlement of an agreement with impacted First Nations
groups; the effects of competition in the markets in which Seabridge
operates; operational and infrastructure risks and the additional
risks described in Seabridge's Annual Information Form filed with
SEDAR in Canada (available at www.sedar.com) for the year ended
December 31, 2011 and in the Corporation's Annual Report Form 40-F
filed with the U.S. Securities and Exchange Commission on EDGAR
(available at www.sec.gov/edgar.shtml). Seabridge cautions that the
foregoing list of factors that may affect future results is not
exhaustive. 
When relying on our forward-looking statements to make decisions with
respect to Seabridge, investors and others should carefully consider
the foregoing factors and other uncertainties and potential events.
Seabridge does not undertake to update any forward-looking statement,
whether written or oral, that may be made from time to time by
Seabridge or on our behalf, except as required by law. 
ON BEHALF OF THE BOARD 
Rudi Fronk, Chairman & CEO
Contacts:
Seabridge Gold Inc.
Rudi P. Fronk
Chairman and CEO
(416) 367-9292
(416) 367-2711 (FAX)
info@seabridgegold.net
www.seabridgegold.net