Seabridge Arranges $16.8 Million Bought Deal Flow-Through Financing

TORONTO, ONTARIO--(Marketwired - Nov. 14, 2013) -

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Seabridge Gold Inc. (TSX:SEA)(NYSE:SA) (the "Company") announces that it has entered into an agreement with a syndicate of underwriters, led by Stonecap Securities Inc. ("Stonecap") and including National Bank Financial Inc. (collectively, the "Underwriters"), whereby the Underwriters have agreed to purchase, on a bought deal basis, 1,500,000 flow-through common shares (the "Flow-Through Common Shares") of the Company at a price of $11.17 per Flow-Through Common Share (a 22.5% premium to today's closing price on the TSX) for gross proceeds of $16.8 million (the "Offering"). Stonecap Securities Inc. and Cowen and Company, LLC are acting as financial advisors to the Company on this transaction.

The gross proceeds from the Offering will be used to fund exploration and development at the Company's 100% owned KSM Project in north western British Columbia, Canada and in particular to follow up on this year's extraordinary Deep Kerr discovery where an initial resource estimate is now being prepared.

Seabridge Chairman and CEO Rudi Fronk noted that "the best results at Deep Kerr came at the end of this year's program. As we moved to the north, we found a definite trend towards a broader zone with richer gold and copper grades, including hole K-13-34 which intersected 640 meters of 0.85% copper and 0.42 g/T gold. Next year's program will focus on this area, which is open along strike and at depth and where higher grade tonnage could be added quickly. Based on this year's results, we are confident that Deep Kerr will prove to be a very large deposit," he said.

"This financing enables us to commit the necessary resources for additional drilling in 2014 at Deep Kerr and other higher grade targets. We expect this work to generate additional gold and copper resources which will more than offset the share dilution involved, just as we expect the initial Deep Kerr resource now in preparation to more than offset the shares issued to fund this year's program. Growing gold ownership per share continues to be a key objective for Seabridge," Fronk stated.

The Offering is being made by way of private placement to accredited investors in Canada. The Offering is scheduled to close on or about December 10, 2013, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange, the NYSE, and the relevant securities regulatory authorities. Shares issued under this Offering are subject to a four month hold period.