S E A B R I D G E G O L D

Corporate Presentation

February 2014

S E A B R I D G E G O L D

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, 2012 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.

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S E A B R I D G E G O L D

The Case for Seabridge

• 44.7M oz Au

• 10B lbs Cu

Proven and Probable Reserves

• 47.1M shares outstanding Low Share Dilution

• $8 enterprise value per ounce of gold reserves Low Valuation

• All reserves are located in Canada Low Political Risk

• New discoveries could add significant higher grade reserves to improve project economics Exploration Upside

3

S E A B R I D G E G O L D

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Gold Reserves

Reserves rank Seabridge among world’s top ten gold companies

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Source: Company data. Data as of January 27th, 2014.

Note: Companies shown include North America’s largest gold companies and selected gold project development companies.

Go

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(M

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45M oz

S E A B R I D G E G O L D

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Low Share Dilution

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Seabridge ranks 1st in reserves/share among leading gold companies

Source: Company data. Data as of January 27th, 2014.

Note: Companies shown include North America’s largest gold companies and selected gold project development companies.

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S E A B R I D G E G O L D

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Low Share Dilution (cont.)

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Proven & Probable Gold Reserves Measured & Indicated Gold Resources Inferred Gold Resources Common Shares Outstanding

Resources have grown more than 10x faster than shares outstanding

Source: Company data. Data as of January 27th, 2014.

Note: For a breakdown of Seabridge’s mineral reserves and resources by project, tonnes and grade, please visit http://seabridgegold.net/resources.php

S E A B R I D G E G O L D

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Attractive Valuation

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Seabridge has a very low enterprise value per ounce of gold reserves

Source: Company data. Data as of January 27th, 2014.

(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

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S E A B R I D G E G O L D

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 Hiju, Grassberg, 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 Canada

8

Where would you rather be?

S E A B R I D G E G O L D

Kerr, Sulphurets and Mitchell

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

• Environmental Assessment approval

expected mid 2014

• Nearing completion of Impact Benefit

Agreement with key Treaty Nation

• Newly discovered Deep Kerr deposit

adds significant upside potential

S E A B R I D G E G O L D

KSM is World Class!

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KSM is a World Class Gold-Copper Project

Source: Company data.

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S E A B R I D G E G O L D

KSM – Favorable Logistics

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S E A B R I D G E G O L D

KSM – Mitchell Zone

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S E A B R I D G E G O L D

KSM – Project Layout

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S E A B R I D G E G O L D

KSM – Preliminary Feasibility Study

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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

S E A B R I D G E G O L D

KSM – PFS Pre-Tax Summary

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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

S E A B R I D G E G O L D

KSM – EA Review Timeline

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S E A B R I D G E G O L D

KSM Working Group Meetings

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Since 2008 Seabridge has been engaged with a working group consisting

of Treaty and First Nations and Canadian and U.S. Regulators

S E A B R I D G E G O L D

Earning our Social License

• Seabridge has reached an agreement in principle on key elements of Benefits Agreement with the Nisga’a Nation

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

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S E A B R I D G E G O L D

Support of Treaty and First Nations

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NISGA'A NATION AND SEABRIDGE GOLD CONFIRM

AGREEMENT IN PRINCIPLE ON KEY ELEMENTS OF KSM

BENEFITS AGREEMENT

August 2013

"Seabridge has demonstrated a real willingness to assist the

Nisga'a Nation in creating genuine economic opportunities for, and

building the capacity of, Nisga'a citizens, [and] we look forward to

continuing our participation in the environmental assessment

process for the KSM Project.“

- Mitchell Stevens, President of the Nisga’a Nation

S E A B R I D G E G O L D

Gitxsan Summit

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Seabridge continues to meet with and inform Treaty and First Nations

on the local benefits that will be derived from the KSM Project.

S E A B R I D G E G O L D

Employment Training

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Seabridge continues to support employment training within local

communities for job skills that will be required at KSM

S E A B R I D G E G O L D

Terrace Open House

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Open and continued dialogue has resulted in the endorsement of

Seabridge and KSM by local communities

S E A B R I D G E G O L D 23

S E A B R I D G E G O L D

KERR ZONE

Plan View and

Cross Section Index 31 Oct. 2013

Conceptual Pit Limits (Mar. 2012)

400m

Hole trace histograms: Red = Au assays Green = Cu assays

A K-13-34

Hole trace histograms

K-13-24

K-13-31

A’

N

S 24

S E A B R I D G E G O L D 25 25

S E A B R I D G E G O L D 26 26

S E A B R I D G E G O L D 27 27

S E A B R I D G E G O L D

Deep Kerr Resources (February 2014)

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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

S E A B R I D G E G O L D

Deep Kerr - Favorable Comparison

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Favorable comparison to other world class gold-copper projects

Source: Most recent company reserve disclosures.

Grade

Owner/ Tonnes Copper Gold

Project Operator Location (Millions) % g/t

Batu Hiju Newmont Indonesia 439 0.40 0.28

Bingham Canyon Rio Tinto United States 704 0.49 0.20

Cadia East Newcrest Australia 1600 0.29 0.49

Grasberg Freeport Indonesia 488 0.93 0.88

Oyu Tolgoi Rio Tinto Mongolia 1040 0.46 0.31

S E A B R I D G E G O L D 30

S E A B R I D G E G O L D 31

S E A B R I D G E G O L D

Courageous Lake

• At 6.5M oz, Courageous Lake (“CL”) is Canada’s 2nd largest undeveloped gold reserve (KSM is 1st)

• Excellent open pit grade of 2.2 gpt Au

– More than twice the grade of Osisko and Detour Gold’s new mines

• Recently completed 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

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S E A B R I D G E G O L D

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

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S E A B R I D G E G O L D

Courageous Lake – 2012 PFS (July 2012)

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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

S E A B R I D G E G O L D

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

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S E A B R I D G E G O L D

Courageous Lake – Exploration Potential

• Existing 6.5M oz reserve covers only

2 km of an under explored

greenstone 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

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S E A B R I D G E G O L D 37 37

S E A B R I D G E G O L D

Catalysts for Success

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EA/EIS Approval

• Advancing through environmental approval and permitting process

• Approval expected mid 2014

Exploration Success

• Pursuing exploration opportunities that will improve project economics

• $16M committed for follow-up drilling at Deep Kerr and to test other potential higher grade core targets

Joint Ventures

• Projects being de-risked to drive joint venture terms

• IBA negotiations proceeding with Treaty and First Nations

• Transactions dependent on improved market conditions

S E A B R I D G E G O L D

Corporate Information

• NYSE: SA

• TSX: SEA

• Included in GDXJ Listings

• 47.1M shares outstanding

• 49.9 M fully diluted Share Structure

• No debt

• More than C$30M in working capital Balance Sheet

• Interests are aligned with shareholders

• Insiders own over 30% of common shares Management and Board

• Own ~35% of common shares

• Investors include Friedberg Mercantile, Royce, Van Eck, Weiss Financial Institutions

• Royal Gold (holds option to acquire NSR at KSM for $160 million in cash) Strategic Investors

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S E A B R I D G E G O L D

Experienced Management

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• 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

S E A B R I D G E G O L D

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 Freeport Scott Barr

• Over 40 years of accounting experience including senior audit partner with Deloitte Touche

Thomas Dawson Chairman of Audit and

Nomination Committees

• Over 25 years experience in precious metals trading, merchanting and merchant banking activities including J. Aron & Co,, Goldman Sachs and Gerald Metals Louis Fox

• 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 Mines Richard Kraus

41