IR

1. SEABRIDGE GOLD
Corporate Presentation
March 2015

2. SEABRIDGE GOLD
Forward Looking Statements
All reserve and resource estimates reported by the Company 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.
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 www.sedar.com) for the year ended December 31, 2013 and in the Company’s Annual Report
Form 40-F filed with the U.S. Securities and Exchange Commission on EDGAR (available at www.sec.gov/edgar.shtml).
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.
2

3. SEABRIDGE GOLD
The Case for Seabridge
• KSM: 38.2M oz gold plus 10B lbs copper
(2.2B tonnes at 0.55 gpt Au and 0.21% Cu)
• Courageous Lake: 6.5M oz gold
(91M tonnes at 2.2 gpt Au)
Proven and
Probable Reserves
• 48.4M shares outstandingLow Share Dilution
• $8 Enterprise Value per ounce of
gold reservesLow Valuation
• All reserves are located in CanadaLow Political Risk
• New discoveries could add significant higher
grade reserves to improve project economicsExploration Upside
3

4. SEABRIDGE GOLD
Gold Reserves
Reserves rank Seabridge among world’s top ten gold companies
4
Source: Company data. Data as of February 26, 2015.
Note: Companies shown include North America’s largest gold companies and selected gold project development companies.
GoldReserves(Moz)
-
20
40
60
80
100
Barrick
Polyus
Newmont
Newcrest
Anglogold
Goldcorp
Seabridge
Kinross
Agnico-Eagle
NovaGold
Yamana
NewGold
Detour
AlliedNevada
Gabriel
Buenaventura
Polymetal
AuRico
Alamos
45M oz

5. SEABRIDGE GOLD
-
0.20
0.40
0.60
0.80
1.00
Seabridge
Newmont
Anglogold
Newcrest
Agnico-Eagle
Detour
AlliedNevada
Barrick
NovaGold
Goldcorp
Kinross
Buenaventura
NewGold
Polyus
Gabriel
AuRico
Polymetal
Yamana
Alamos
Low Share Dilution
5
Seabridge ranks 1st in reserves/share among leading gold companies
Source: Company data. Data as of February 26, 2015.
Note: Companies shown include North America’s largest gold companies and selected gold project development companies.
GoldReservesperCommonShare
0.92 oz/share

6. SEABRIDGE GOLD
Low Share Dilution (cont.)
6
Source: Company data. Data as of February 26, 2015.
Note: For a breakdown of Seabridge’s mineral reserves and resources by project, tonnes and grade, please visit http://seabridgegold.net/resources.php
Reserves and Resources continue to grow faster than shares outstanding
-
10
20
30
40
50
60
70
80
90
-
10
20
30
40
50
60
70
80
90
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
SharesOutstanding(Millions)
OuncesofGold(Millions)

7. SEABRIDGE GOLD
-
$75
$150
$225
$300
$375
$450
Goldcorp
Agnico-Eagle
Buenaventura
Barrick
Yamana
Newmont
Alamos
AuRico
Newcrest
Anglogold
NewGold
Polyus
Detour
Kinross
AlliedNevada
NovaGold
Gabriel
Seabridge
EnterpriseValueperReserveozAttractive Valuation
7
Seabridge has a very low enterprise value per ounce of gold reserves
Source: Company data. Data as of February 26, 2015.
(1) Enterprise Value calculated as market capitalization (basic) plus net debt and minority interest
Note: Companies shown include North America’s largest gold companies and selected gold project development companies
$8/oz

8. SEABRIDGE GOLD
Low Political Risk
• Illegal strikes and local opposition delay approved projects (Conga, Santa
Anna, Tintaya)Peru
• Open pit mining and use of cyanide banned in certain areas
• 100% tax on export earnings for some resource projects (Famatina, San Jose)Argentina
• Increased taxes and royalties (Fruta del Norte)Ecuador
• Creeping expropriation through imposed local and government ownership
(Batu Hijau, Grasberg, Tujuh Bukit)Indonesia
• Increased royalty structure and challenging power supply issues (all projects)
• Local opposition delays approved projects (El Morro, Pascua-Lama)Chile
• Stable regulatory and tax regime
• Established, reliable procedures for obtaining permits include deadlines for
government agencies
Canada
8
Where would you rather be?

9. SEABRIDGE GOLD
KSM Project, British Columbia, Canada
9
• KSM is the world’s largest undeveloped
gold/copper project (by reserves)
• Located in “mining friendly” British
Columbia near past producers
• Highly favorable logistics
• Estimated cash costs and total costs
well below current industry averages
• Base Case exhibits outstanding
capital efficiency
• BC Environmental Assessment
approved July 30, 2014. Federal
approval received December 2014
• Signed Impact Benefit Agreement with
key Treaty Nation
• Newly discovered Deep Kerr deposit
adds significant upside potential

10. SEABRIDGE GOLD
KSM is World Class!
10
KSM is a world class gold-copper project
Source: Company data (updated annually)
-
2
4
6
8
10
12
-
10
20
30
40
KSM
Donlin
PuebloViejo
CerroCasale
Boddington
Caspiche
Pascua-Lama
Penasquito
Conga
Telfer
ElMorro
AguaRica
GaloreCreek
CuReserves(Blbs)
AuReserves(Moz)
-
2
4
6
8
10
12
-
10
20
30
40
KSM
Donlin
PuebloViejo
CerroCasale
Boddington
Caspiche
Pascua-Lama
Penasquito
Conga
Telfer
ElMorro
AguaRica
GaloreCreek
CuReserves(Blbs)
AuReserves(Moz)
Au Reserves Cu Reserves
-
2
4
6
8
10
12
-
10
20
30
40
KSM
Donlin
PuebloViejo
CerroCasale
Boddington
Caspiche
Pascua-Lama
Penasquito
Conga
Telfer
ElMorro
AguaRica
GaloreCreek
CuReserves(Blbs)
AuReserves(Moz)
Au Reserves Cu Reserves
-
2
4
6
8
10
12
-
0
0
0
0
KSM
Donlin
PuebloViejo
CerroCasale
Boddington
Caspiche
Pascua-Lama
Penasquito
Conga
Telfer
ElMorro
AguaRica
GaloreCreek
CuReserves(Blbs)
Au Reserves Cu Reserves
-
2
4
6
8
10
12
-
10
20
30
40
KSM
Donlin
PuebloViejo
CerroCasale
Boddington
Caspiche
Pascua-Lama
Penasquito
Conga
Telfer
ElMorro
AguaRica
GaloreCreek
CuReserves(Blbs)
AuReserves(Moz)
Au Reserves Cu Reserves

11. SEABRIDGE GOLD
KSM – Favorable Logistics
11

12. SEABRIDGE GOLD
KSM – Mitchell Zone
12

13. SEABRIDGE GOLD
KSM – Project Layout
13

14. SEABRIDGE GOLD
KSM – Preliminary Feasibility Study
14
The PFS projects a large, long-life mine
Unit Years 1-7 LOM 55-Year Plan
Average Grades:
Gold gpt 0.79 0.55
Copper % 0.23 0.21
Silver gpt 2.39 2.74
Molybdenum ppm 46.2 44.8
Average Annual Production:
Gold oz 851,000 508,000
Copper M lbs 195 147
Silver M oz 2.1 2.2
Molybdenum M lbs 1.3 1.1

15. SEABRIDGE GOLD
KSM – PFS Pre-Tax Economic Analysis
15
50+ year mine plan
Note: For Operating and Total Costs, copper, silver and molybdenum revenues are taken as a by-product credits.
Case
Unit Base Alternate May 2012 Spot
Initial Capital Cost $M $5,300 $5,300 $5,300
Net Cash Flow $M $20,500 $16,800 $31,200
NPV @ 5% $M $4,500 $3,500 $7,700
Internal Rate of Return % 11.5% 10.4% 14.7%
Payback Period years 6.2 6.7 5.2
Operating Costs (LOM) $/oz Au $141 $263 $60
Total Costs (includes all capital) $/oz Au $598 $720 $535
Metal Prices:
Gold $/oz $1,330 $1,320 $1,650
Copper $/lb $3.45 $3.00 $3.75
Silver $/oz $25.20 $25.60 $32.00
Molybdenum $/lb $15.00 $15.00 $15.00
US$/Cdn$ Exchange Rate - 0.96x 0.96x 1.00x

16. SEABRIDGE GOLD
KSM – PFS After Tax Economic Analysis
16
50+ year mine plan
Note: (1) For Operating and Total Costs, copper, silver and molybdenum revenues are taken as a by-product credits.
(2) Taxes include all Provincial taxes plus Federal Corporate Income Tax.
Case
Unit Base Alternate May 2012 Spot
Initial Capital Cost $M $5,300 $5,300 $5,300
Net Cash Flow $M $13,100 $10,900 $20,100
NPV @ 5% $M $2,500 $1,900 $4,700
Internal Rate of Return % 9.4% 8.5% 12.2%
Payback Period years 6.4 6.9 5.3
Metal Prices:
Gold $/oz $1,330 $1,320 $1,650
Copper $/lb $3.45 $3.00 $3.75
Silver $/oz $25.20 $25.60 $32.00
Molybdenum $/lb $15.00 $15.00 $15.00
US$/Cdn$ Exchange Rate
-
0.96x 0.96x 1.00x

17. SEABRIDGE GOLD
KSM – Approved by BC and Canada
17

18. SEABRIDGE GOLD
Earning our Social License
• Seabridge has entered into a Benefits
Agreement with the Nisga’a Nation including
their support of the project
Treaty/First
Nation Support
• Seabridge continues to support the training
of the local labour force
Employment
Training
• Seabridge has received the support of the
Mayor and Councils of Smithers and Terrace
for the development of the KSM Project
Local
Community
Support
18

19. SEABRIDGE GOLD
Support of Treaty and First Nations
19
NISGA'A NATION AND SEABRIDGE GOLD ENTER INTO KSM
BENEFITS AGREEMENT
June 2014
"We appreciate Seabridge's open and direct approach to working with the Nisga'a
Nation. They began consulting with us very early on in the development of the KSM
Project design. They listened to our concerns and took them seriously. They have
been very responsive to our concerns around the environmental and social impacts
of the project on Nisga'a Treaty interests. As well, Seabridge has demonstrated a
real willingness to assist the Nisga'a Nation in creating genuine economic
opportunities and building the capacity of Nisga'a citizens.”
- Mitchell Stevens, President of the Nisga’a Nation

20. SEABRIDGE GOLD 2020

21. SEABRIDGE GOLD 2121

22. SEABRIDGE GOLD
Deep Kerr Resources (March 2014)
22
More than 2.5 times the average KSM copper grade
Note: Mineral resources which are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources have a high degree of uncertainty as to their existence, and great
uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category.
Copper Gold Silver Moly
Tonnes Grade Inferred Grade Inferred Grade Inferred Grade Inferred
($/tonne) (K) % (M lbs) g/t (K oz) g/t (K oz) ppm (K lbs)
8.0 749,928 0.42 6,917 0.30 7,325 1.7 41,349 24 40,146
12.0 675,228 0.45 6,730 0.32 6,921 1.7 37,897 26 38,175
16.0 597,280 0.49 6,472 0.34 6,515 1.8 34,644 27 35,962
20.0 514,667 0.53 6,052 0.36 5,914 1.8 30,319 28 32,087
24.0 442,221 0.58 5,640 0.39 5,485 1.9 26,670 29 28,654
28.0 376,888 0.62 5,168 0.41 4,976 2.0 23,919 30 24,849
32.0 317,108 0.67 4,700 0.44 4,477 1.9 19,570 31 21,504
36.0 272,175 0.71 4,279 0.46 4,012 1.9 16,699 31 18,621
NSR
Cutoff
Value
Deep Kerr Inferred Resource

23. SEABRIDGE GOLD 2323

24. SEABRIDGE GOLD
K-14-34A
-
-
-
-
-
24

25. SEABRIDGE GOLD 2525

26. SEABRIDGE GOLD 26

27. SEABRIDGE GOLD
Courageous Lake
• At 6.5M oz, (91 million tonnes at 2.2 gpT
Au) Courageous Lake (“CL”) is Canada’s
2nd largest undeveloped gold reserve
(KSM is 1st)
• Excellent open pit grade of 2.2 gpt Au
• 2012 Preliminary Feasibility Study shows
viable project with exceptional leverage to
higher gold prices
• Wholly owned 53 km greenstone belt
provides excellent exploration potential
• Located in Northwest Territories within
100 km of Diavik and Ekati, two large
operating open pit diamond mines
27

28. SEABRIDGE GOLD
Courageous Lake – Project Location
• Project located on winter ice road,
in close proximity to the Diavik
and Ekati mines
– Demonstrating that year round
open pit bulk tonnage operations
are feasible
• Nearby mines provide “real-time”
estimates for capital and
operating costs
– Additionally, with mines scheduled
to close over the next several
years, a local and trained
workforce will be readily available
28

29. SEABRIDGE GOLD
Courageous Lake – PFS Pre-Tax Summary
29
Exceptional leverage to gold price
Case
Unit Base Alternate
Gold Price $/oz $1,384 $1,925
Initial Capital Cost $M $1,520 $1,520
Mine Life years 15.0 15.0
Average Annual Gold Production ounces 385,000 385,000
Net Cash Flow $M $1,507 $4,519
NPV @ 5% $M $303 $2,080
Internal Rate of Return % 7.3% 18.7%
Payback Period years 11.2 4.0
Operating Costs (years 1-5) $/oz Au $674 $689
Operating Costs (LOM) $/oz Au $780 $796
Total Costs (includes all capital) $/oz Au $1,123 $1,141
US$/Cdn$ Exchange Rate - 0.98x 0.99x

30. SEABRIDGE GOLD
Courageous Lake – PFS After Tax Summary
30
Exceptional leverage to gold price
Case
Unit Base Alternate
Gold Price $/oz $1,384 $1,925
Initial Capital Cost $M $1,520 $1,520
Mine Life years 15.0 15.0
Average Annual Gold Production ounces 385,000 385,000
Net Cash Flow $M $1,037 $2,973
NPV @ 5% $M $92 $1,285
Internal Rate of Return % 5.8% 15.3%
Payback Period years 11.4 4.2
US$/Cdn$ Exchange Rate -- 0.98 0.99
Note: Taxes include all Provincial taxes plus Federal Corporate Income Tax.

31. SEABRIDGE GOLD
CL – Value Enhancing Opportunities
• Access to hydro-electric generated power
• Examine year round road access
opportunities
Improve Capital
and Operating
Costs
• Exploring for higher grade material that could
be exploited in the early years of production
• History of high grade production along belt
Higher
Grades
• Exploring for additional bulk mineable
deposits that could extend project life beyond
the current 15 year estimate
Additional
Deposits
31

32. SEABRIDGE GOLD
Courageous Lake – Exploration Potential
• Existing 6.5M oz reserve (91 million
tonnes at 2.2 gpT Au) covers only
2 km of an under explored green-
stone belt that stretches 53 km
– Owned 100% by Seabridge
• Two former producing mines on belt
(Salmita and Tundra) had average
grades of ~1 opt Au (30 gpt)
• Seabridge now exploring for
additional deposits that could extend
the estimated 15 year mine life
– With potentially higher grades
mined in early years
32

33. SEABRIDGE GOLD
Walsh Lake Resources (March 2014)
33
Approximately twice the grade of Courageous Lake’s reserves
Note: Mineral resources which are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources have a high degree of uncertainty as to their existence, and great
uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category.
Walsh Lake Inferred Resource
Cut-Off Gold
Grade Tonnes Grade Inferred
(g/T) (K) g/t (K oz)
0.20 6,647 2.37 506
0.30 5,987 2.60 500
0.40 5,477 2.81 495
0.40 5,022 3.03 489
0.60 4,624 3.24 482
0.70 4,278 3.45 475
0.80 3,986 3.65 468
0.90 3,727 3.84 460
1.00 3,512 4.02 454

34. SEABRIDGE GOLD
Catalysts for Success
34
EA/EIS Approval
• BC environmental
approval received
July 2014
• Federal approval
received Dec 2014
Exploration Success
• Pursuing exploration
opportunities that will
improve project economics
• New resource estimate for
Deep Kerr and Lower Iron
Cap expected Q1 2015
• 20,000 meter program
planned for 2015 targeting
higher grade core zones
Joint Ventures
• KSM being de-risked to drive
joint venture terms
• World’s largest mining
companies under CA
• Transactions dependent on
improved market conditions

35. SEABRIDGE GOLD
Corporate Information
• NYSE: SA
• TSX: SEA
• Included in GDXJ
Listings
• 48.4 M shares outstanding
• 51.0 M fully dilutedShare Structure
• No debt
• C$15M in working capitalBalance Sheet
• Interests are aligned with shareholders
• Insiders own over 30% of common sharesManagement and Board
• Own ~35% of common shares
• Investors include Friedberg Mercantile, Royce, Van Eck, WeissFinancial Institutions
• Royal Gold (holds option to acquire NSR at KSM for $160 million in cash)Strategic Investors
35

36. SEABRIDGE GOLD
Experienced Management
36
• Over 30 years of experience in the gold business, primarily as a senior officer and director of publicly traded
companies including Greenstone Resources, Columbia Resources, Behre Dolbear & Company, Riverside
Associates, Phibro-Salomon, Amax, and DRX
Rudi Fronk
Co-Founder, Chairman & CEO
• Over 30 years of experience in the mining sector and responsible for designing and managing the technical
programs required to advance Seabridge's two main assets towards feasibility
• Former Vice President of Solutions and Innovation for Newmont Mining Company
Jay Layman
Director, President & COO
• Over 30 years of exploration experience and is responsible for the design and execution of Seabridge’s
exploration and resource delineation programs
• Previously served as Exploration Manager and Vice President with Placer Dome
Bill Threlkeld
Senior VP, Exploration
• Over 30 years of experience in mine engineering, design, strategic analysis and start-up
• Formerly a Group Executive, Mine Engineering at Newmont Mining Corporation
Peter Williams
Senior VP, Technical Services
• Has 20 years of mining industry and public accounting experience and has been a CGA since 1994
• Currently a director of Paramount Gold and Silver
Christopher Reynolds
VP, CFO
• Over 25 years of experience, Mr. Murphy is responsible for developing and managing Seabridge's
environmental programs and community engagement strategies
Brent Murphy
VP, Environmental Affairs
• Has practiced law in the areas of corporate finance and securities, corporate and mining since 1993 and
has been counsel to Seabridge Gold since 1999
Bruce Scott
VP, Corporate Affairs

37. SEABRIDGE GOLD
Board of Directors
• Founder and Chairman of Mintec, Inc. and one of the original developers of MineSight™, recognized as
the pre-eminent reserves modeling and mine design software system with more than 300
installations worldwide
Frederick Banfield
• Over 45 years of mining related experience, predominately in senior technical project management and
operational roles, including Newmont and FreeportScott Barr
• Over 40 years of accounting experience including senior audit partner with Deloitte Touche
Thomas Dawson
Chairman of Audit and
Nomination Committees
• Over 30 years of experience, Mr. Gonzalez-Urien is one of the most highly regarded exploration
geologists in the mining industry. Ran global exploration for Placer Dome from 1989 through 2001
Eliseo Gonzalez-
Urien
• Currently serves as the Executive Chairman of The RMH Group, Inc.
• Former CEO (and previously COO and CFO) of Echo Bay MinesRichard Kraus
• Over 40 years of legal expertise in mining, securities, financing, and mergers and acquisitions
• Former CEO of Anvil Mining and current director of Algold Resources Inc. and Uranium OneJohn Sabine
37