Seabridge Gold Inc.

Seabridge Gold Inc.

February 25, 2005 12:56 ET

Seabridge Gold Closes $2.1 Million Flow-Through Financing




FEBRUARY 25, 2005 - 12:56 ET

Seabridge Gold Closes $2.1 Million Flow-Through

TORONTO, ONTARIO--(CCNMatthews - Feb. 25, 2005) -

Proceeds to Fund Exploration Program at Courageous Lake

Seabridge Gold (TSX VENTURE:SEA)(AMEX:SA) announced today that it has
closed its previously announced private placement financing of 500,000
flow-through shares at $4.25 per share for gross proceeds of $2,125,000.
This financing will be used to fund a 7,500 meter core drilling program
at the Company's 100% owned Courageous Lake gold project located in
Canada's Northwest Territories.

The shares issued under this private placement are subject to a
four-month hold period expiring on June 26, 2005. Finders fees of 5%
will be paid on a portion of the financing to two independent

The drill program at Courageous Lake will test three targets on the FAT
deposit. Two of these targets are step-out drilling to define the
potential north and south strike extensions of the deposit. The third
target is designed to better understand the distribution of high-grade
gold within the deposit.

National Instrument 43-101 Disclosure

Seabridge's Courageous Lake project covers 53 kilometers of the Matthews
Lake Greenstone Belt which hosts the 2 kilometer long FAT deposit. The
FAT, Canada's largest known undeveloped gold deposit, contains an
estimated 3.54 million ounces in the measured and indicated categories
(44.2 million tonnes grading 2.49 grams of gold per tonne) plus an
additional estimated 4.89 million ounces in the inferred category (65.5
million tonnes grading 2.32 grams of gold per tonne).

Exploration activities 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.

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 7.55 million ounces of resources in the
inferred category (203.1 million tonnes grading 1.16 grams of gold per
tonne). (See for a
breakdown of these gold resources by project as well as detailed
technical information in respect of the projects and the resource
calculations). 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.