Seabridge Gold Inc.: Courageous Lake Drilling Yields Exceptional Assays

Market Wire, May, 2006

Results Expected to Improve Average Grade of FAT Deposit

Seabridge Gold (TSX VENTURE:SEA)(AMEX: SA) announced today that it has successfully drill-tested a number of structurally controlled zones within the existing FAT deposit at its 100% owned Courageous Lake gold project in the Northwest Territories, Canada. The results obtained are significantly higher than the grades predicted in the FAT deposit resource model and, as such, are expected to increase the grade of the deposit in those areas.

In February, Seabridge initiated a 15,000 meter core drill program at Courageous Lake. To date, 26 holes have been completed totaling approximately 7,100 meters. The balance of the program will be completed during the summer. The 2006 program was designed to increase the projected 8.5 year mine life of the project (see news release dated September 21, 2005) by testing: (1) higher grade structures within the FAT deposit which were not intersected in previous drilling; (2) two new structures to the west of the known deposit but within the projected open pit; and (3) a northern extension of the FAT deposit discovered in last year's drilling.

Of the 26 holes completed during the winter phase of the 2006 program, 10 holes tested for potential high grade zones (holes CL-047, 048, 049, 052, 054, 055, 058, 059, 060, and 061), eight holes tested for additional mineralization to the west (holes CL-041, 042, 043, 044, 046, 050, 053 and 056) and eight holes tested for strike extensions to the north (holes 045, 051, 057, 062, 063, 064, 065 and 066). Results of the 10 drill holes designed to test the controls of high grade zones have been received and compared to grades predicted in the existing resource block model. Results from the drill holes testing mineralization to the west and north of the FAT deposit are pending and will be released at a later date.

Based on the distribution of gold grades and geological observations over the past three drill campaigns, Seabridge geologists postulated that east-west trending structures could exert a control on the distribution of higher grade gold concentrations within the FAT deposit. Past drilling on the deposit was oriented in an east-west direction, limiting the potential to define and incorporate this control in the resource model. In 2005, Seabridge tested this concept with drill hole CL-039 which intersected gold mineralization that was 79% higher than predicted in the resource block model. Additional postulated east-west structures were therefore drilled in this year's winter program.

Seabridge's Senior Vice President William E. Threlkeld stated that "the assay results suggest that every one of the 10 new holes located high grade structures. Previous modeling of the deposit limited the impact of higher grade assays. With the new drilling, we can now more effectively define the distribution of high grade gold in the deposit. The impact on the overall grade of the deposit, however, will not be known until new wire frames are constructed incorporating this new information. We plan to update the FAT resource model later this year after the second round of drilling is completed this summer."

With the success of the winter program, Seabridge's geological team will now assess the potential for locating additional high grade structures.

The following table compares the results of selected high grade intersections of the 10 holes drilled this year versus the grades predicted by the current FAT deposit resource block model.

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            2006 Assay Results
----------------------------------------    Gold Grade    2006 Assay
                                   Gold   Predicted by       Results
Drill    From       To  Interval  Grade    Block Model  versus Model
Hole  (meters) (meters)  (meters)  (g/t)          (g/t) Results ( /-)
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CL-047   38.0     85.5      47.5   5.74           0.88        552.3%
         98.5    109.0      10.5   3.61           0.17       2023.5%
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CL-048   73.7    137.0      62.7   6.17           3.12         97.8%
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CL-049   76.5    104.1      27.6   3.45           1.49        131.5%
        140.1    164.0      23.9   3.08           0.63        388.9%
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CL-052   42.2    117.4      75.2   6.08           1.70        257.6%
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CL-054   51.1     74.1      23.0   1.92           1.15         67.0%
         92.5    106.5      14.0   5.94           0.71        736.6%
        115.5    157.5      42.0   5.30           1.81        192.8%
        167.0    190.0      23.0   4.74           0.83        471.1%
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CL-055   95.0    113.0      18.0   3.18           3.18          0.0
        239.0    260.0      21.0   4.24           0.20       2020.0%
        291.0    297.0       6.0   4.71           1.33        254.1%
        308.0    324.0      16.0   1.95           0.73        167.1%
        340.8    354.7      13.9   3.97           0.37        973.0%
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CL-058   79.5    109.5      30.0   4.73           4.03         17.4%
        142.2    158.5      16.0   2.12           2.52        -15.9%
        144.0    149.5       5.5   4.43           1.20        269.2%
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CL-059   33.1     39.0       5.9   3.37           4.04        -16.6%
        141.0    148.5       7.5   3.74           1.64        128.0%
        165.5    174.5       9.0   2.77           1.57         76.4%
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CL-060    8.4     67.5      59.1   1.65           1.22         35.2%
        192.9    200.0       7.1   5.82           0.65        795.4%
        219.1    235.9      16.8   8.14           0.85        857.6%
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CL-061    2.7    105.2     102.5   8.17           0.78        947.4%
        124.5    229.0     104.5   4.06           3.09         31.4%
        331.7    351.4      19.7   3.93           1.09        260.6%
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