Toronto, Ontario--(Newsfile Corp. - April 16, 2020) - Seabridge Gold Inc. (TSX:SEA) (NYSE:SA) (the "Company" or "Seabridge") announced today that it has closed its previously announced non-brokered private placement from an existing shareholder for 1.2 million common shares of the Company at a price of $11.75 per share for gross proceeds of $14,100,000. No commissions were payable on this transaction.

The financing was made by way of private placement in Canada and the issued shares are subject to a four-month hold period in Canada expiring August 17, 2020. Seabridge has granted the private placee an option to increase the size of the private placement by an additional 240,000 common shares exercisable until May 15, 2020.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.

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.

ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and CEO

For further information please contact:
Rudi P. Fronk, Chairman and CEO
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: [email protected]

NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS

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