Seabridge Gold Inc.

Seabridge Gold Inc.

January 11, 2005 12:38 ET

New 43-101 Technical Report on Seabridge Gold's Courageous Lake Project Confirms Higher Grades and Increased Ounces of New Resource Model




JANUARY 11, 2005 - 12:38 ET

New 43-101 Technical Report on Seabridge Gold's
Courageous Lake Project Confirms Higher Grades and
Increased Ounces of New Resource Model

TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2005) - Seabridge Gold Inc.

An updated 43-101 Technical Report has been prepared by Resource
Modeling Inc. ("RMI") of Tucson, Arizona on Seabridge Gold's 100% owned
Courageous Lake project in Canada's Northwest Territories. The report
confirms the previously announced resource model including a 12%
increase in gold resources and a 15% increase in average grade at a 1.0
gram per tonne cut-off. Gold resources for the project are now stated as

Courageous Lake Gold Resources at 1.0 gram per tonne cut-off
Measured Indicated Inferred
Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
(000's) (g/T) (000's) (000's) (g/T) (000's) (000's) (g/T) (000's)
3,041 2.74 268 41,161 2.47 3,269 65,501 2.32 4,886

Gold resource estimates included herein were prepared by Resource
Modeling Inc. under the direction of Michael Lechner and Abdullah Arik,
both of whom are independent of Seabridge and are Qualified Persons as
defined by National Instrument 43-101. The independent Technical Report
can be viewed on SEDAR at
. The foregoing mineral resources do not have demonstrated economic
viability and accordingly are not mineral reserves

Seabridge has been designed to provide its shareholders maximum leverage
to the price of gold. The Company has acquired a 100% interest in eight
North American gold projects which collectively contain an estimated
9.10 million ounces of resources in the measured and indicated
categories (246.3 million tonnes grading 1.15 grams of gold per tonne)
plus an additional estimated 7.39 million ounces of resources in the
inferred category (201.4 million tonnes grading 1.14 grams of gold per
tonne). (See for a
breakdown of these gold resources by project). The Company continues to
seek expansion of its gold resource base by acquisition of new projects
and exploration programs largely funded by partners.

All resource estimates reported in this disclosure are 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.

Statements relating to the estimated or expected future production and
operating results and costs and financial condition of Seabridge,
planned work at the Company's projects and the expected results of such
work are forward-looking statements within the meaning of the United
States Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by words such as the following:
expects, plans, anticipates, believes, intends, estimates, projects,
assumes, potential and similar expressions. Forward-looking statements
also include reference to events or conditions that will, would, may,
could or should occur. Information concerning exploration results and
mineral reserve and resource estimates may also be deemed to be
forward-looking statements, as it constitutes a prediction of what might
be found to be present when and if a project is actually developed.
These forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable at the time
they are made, are inherently subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements,
including, without limitation: uncertainties related to raising
sufficient financing to fund the planned work in a timely manner and on
acceptable terms; changes in planned work resulting from logistical,
technical or other factors; the possibility that results of work will
not fulfill projections/expectations and realize the perceived potential
of the Company's projects; uncertainties involved in the interpretation
of drilling results and other tests and the estimation of gold reserves
and resources; risk of accidents, equipment breakdowns and labour
disputes or other unanticipated difficulties or interruptions; the
possibility of environmental issues at the Company's projects; the
possibility of cost overruns or unanticipated expenses in work programs;
the need to obtain permits and comply with environmental laws and
regulations and other government requirements; fluctuations in the price
of gold and other risks and uncertainties, including those described in
the Company's Annual Information Form filed with SEDAR in Canada
(available at for the year ended December 31, 2003 and in
the Company's 20-F filed with the U.S. Securities and Exchange
Commission (available at

Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management or its independent professional
consultants on the date the statements are made.


"Rudi Fronk,"

President & C.E.O.


Contact Information

    Seabridge Gold Inc.
    Rudi P. Fronk
    President and C.E.O.
    (416) 367-9292
    (416) 367-2711 (FAX)
    The TSX-V Exchange has not reviewed and does not accept responsibility
    for the adequacy or accuracy of this release.