Seabridge Begins Drilling Walsh Lake High Grade Gold Target at Courageous Lake Project

Seabridge Begins Drilling Walsh Lake High Grade Gold Target at Courageous Lake 
TORONTO, CANADA -- (Marketwire) -- 03/07/13 -- Seabridge Gold
(TSX:SEA)(NYSE:SA) has begun core drilling the high grade Walsh Lake
gold target at its 100%-owned Courageous Lake project in Canada's
Northwest Territories. The $3.1 million winter program is expected to
complete 16 holes totaling 7,400 meters with the aim of generating an
initial resource estimate for the Walsh Lake deposit which was
discovered last year (see news release of September 10, 2012). 
Last year's summer program at Walsh Lake completed 23 core holes
totaling 10,211 meters. The results exceeded expectations with 22 of
23 holes returning significant gold values including 26 intercepts
above 15 grams per tonne (approximately half an ounce per tonne). The
Walsh Lake zone now has a strike length of 850 meters and remains
open to the north, up dip and at depth. 
The Walsh Lake target is located about 10 kilometres south of the FAT
deposit where Seabridge has developed a 6.5 million ounce proven and
probable gold reserve (see reserve table below). The north part of
this target area is connected by a road network between the FAT
deposit and the historical high grade Tundra Gold Mine. Walsh Lake is
believed to be a series of structural zones, parts of which are on
strike with the deposits exploited in the Tundra Gold Mine. 
Seabridge Chairman and CEO Rudi Fronk noted that the remarkable
continuity of Walsh Lake's drill results to date support the
potential for the winter program to provide the basis for an initial
resource estimate for the deposit. "Walsh Lake could make a
significant contribution to the economics of the overall Courageous
Lake project. With its location and ease of access, higher grade
material from Walsh Lake could be processed first which would
accelerate payback of capital as well as extending mine life. This
result would certainly accomplish the objectives set last year when
we went looking for additional deposits at Courageous Lake." 
Mr. Fronk noted that, "Courageous Lake is an exciting asset, not only
because of the large FAT deposit but also because we own 53
kilometres of a Greenstone Belt which has gold mineralization over
its entire length. Investing in our extensive land package in the
belt beyond the FAT deposit is beginning to pay off. Our team has
developed other targets that we believe could also augment existing
Proven and probable gold reserves at Courageous Lake estimated as of
July 2012 are as follows (see news release dated July 24, 2012 for

                  Courageous Lake Reserves                  
Reserve                 Tonnes          Grade Contained Gold
Category               (000's)          (g/t)   (000 ounces)
Proven                  12,300           2.41            960
Probable                78,800           2.17          5,500
Total                   91,100           2.20          6,460

Exploration activities by Seabridge Gold at the Courageous Lake gold
project are being conducted under the supervision of William E.
Threlkeld, Registered Professional Geologist, Senior Vice President
of the Company and a Qualified Person as defined by National
Instrument 43-101. Mr. Threlkeld has approved the disclosure in this
news release. In order to verify the test data a rigorous quality
control/quality assurance protocol is being employed during the 2013
Courageous Lake drill program including blank and certified reference
standards inserted by the Company at a rate of not less than one of
each type in every 30 samples. Repeats and re-splits of the sample
rejects are being analyzed at a rate of not less than one sample in
every 25 for each type. Samples are being assayed at Acme
Laboratories, Vancouver, B.C. using fire assay atomic adsorption
methods for gold and total digestion ICP methods for other elements.
Intervals that exceed 10.0 g/t Au are methodically re-analyzed using
metallic screen fire assay techniques. Cross-check analyses are being
conducted at a second external laboratory on at least 10% of the
Seabridge holds a 100% interest in several North American gold
resource 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
resources by project and category please visit the Company's website
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 extent of the proposed program and whether its results
will enable the Company to prepare a resource estimate at Walsh Lake;
(ii) the Walsh Lake deposit making a significant economic
contribution to the Courageous Lake project and augmenting reserves;
(iii) the estimated amount and grade of mineral reserves and
estimates underlying the reserve determination, including estimates
of the capital costs of constructing mine facilities and bringing a
mine into production, the amount of future production and estimates
of operating costs, net cash flow and economic returns from an
operating mine; (vi) submission of an Environmental Impact Statement
and permit applications for Courageous Lake and the timing thereof;
and (vii) the prospect of obtaining necessary permits and proceeding
with the construction and operation of a mine. 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 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, 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 most of the other forward-looking statements and
assumptions herein. 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
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 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 cautions that the
foregoing list of factors that may affect future results is not
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. 
Rudi Fronk, Chairman and CEO
Seabridge Gold
Rudi P. Fronk
Chairman and CEO
(416) 367-9292
(416) 367-2711 (FAX)
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