Seabridge Gold Files First Quarter 2022 Report to Shareholders, Financial Statements and MD&A

Toronto, Canada... Seabridge Gold (TSX: SEA, NYSE:SA) announced today that it has filed a Report toShareholders and its Interim Financial Statements and Management’s Discussion and Analysis for the three months period ended March 31, 2022 on SEDAR (www.sedar.com). These statements are also available on Seabridge’s website at https://www.seabridgegold.com/investors/financial-reports.

Recent Highlights

• Secured US$225 million to fund KSM early-stage construction activities
• Entered into Agreement with BC Hydro to supply green, low-cost construction power to KSM
• KSM site capture and substantially started activities move to the next level
• Updated mineral resource estimates reported for KSM’s Mitchell and East Mitchell deposits
• Drilling completed at the Snowstorm Project in Northern Nevada

• During the three-month period ended March 31, 2022 Seabridge posted a net loss of $6.3 million($0.08 per share) compared to a net loss of $4.3 million ($0.06 per share) for the same period last year.

• During the 1st quarter, Seabridge invested $10.1 million in mineral interests, property and equipment compared to $7.5 million during the same period last year. At March 31, 2022, net working capital was$294.2 million compared to $36.9 million at December 31, 2021.

• Seabridge holds a 100% interest in several North American gold projects. Seabridge’s assets include the KSM and Iskut projects located near Stewart, British Columbia, Canada, the Courageous Lake project located in Canada's Northwest Territories, the Snowstorm project in the Getchell Gold Belt ofNorthern Nevada and the 3 Aces project located in the Yukon Territory. For a full breakdown of Seabridge's mineral reserves and mineral resources by category please visit Seabridge's website athttp://www.seabridgegold.com.

None of the Toronto Stock Exchange, New York Stock Exchange, or their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding: (i) the Integration of these new results into our understanding being expected to further define targeting in our next campaign and that the next campaign will be designed to advance towards discovery of a Turquoise Ridge style opportunity; (ii) the presence of a thrust fault within the favourable Paleozoic stratigraphy, intruded by an intermediate composition igneous rock, indicating that it had provided a pathway for gold-bearing fluids; (iii) expectations that information from the drilling will be important and provide better understanding of the scale of the thrust fault target along with gold and pathfinder element dispersion around intrusions, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, discontinuity or otherwise unexpected geology at the Project, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and C.E.O.

For further information please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: info@seabridgegold.com

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