Kerr-Sulphurets-Mitchell (KSM) Exploration Program — A new 43-101 resource estimate for the Mitchell zone has reported an indicated gold resource of 16.3 million ounces and an inferred resource of 13.3 million ounces, together representing an increase of 127% over the 13.1 million ounces, all inferred, previously estimated in 2007. Combining the Mitchell zone with the nearby Kerr and Sulphurets zones, resources for the KSM project now exceed 34 million ounces of gold and 8 billion pounds of copper, making it one of the world's largest gold-copper systems (SEE Feb. 20, 2008 news release). Work has commenced on an independent Preliminary Assessment, scheduled for completion in late 2008, which will include preliminary capital and operating cost estimates (SEE Dec. 6, 2007 news release). Environmental studies and associated base-line data collection are also proceeding for project permitting purposes. A new 15,000 meter core drilling program at KSM will begin in June to test higher grade targets and upgrade remaining inferred resources to the indicated category (SEE Mar. 25, 2008 news release).

Courageous Lake Exploration Program — A new 43-101 independent Preliminary Assessment has been completed which projects average annual production of 500,000 ounces of gold for 11.6 years at an average cash operating cost of US$848 million (SEE). The study confirms that the FAT deposit represents an excellent economic opportunity with increased capital and operating costs more than offset by a larger resource, extended mine life and higher gold prices.

Nevada Exploration Program — Seabridge geologists have completed a review of the Company's 30 gold projects in Nevada. Extensive mapping and surface sampling have identified two priority projects for further work — The Golden Arrow Project (SEE) and Four-Mile Basin (SEE). Both projects contain large gold targets which could generate additional resources for Seabridge.

Noche Buena Exploration Program — Seabridge staked additional ground around the existing deposit and completed a drill program designed to increase gold resources by testing multiple targets (SEE). A new 43-101 compliant resource estimate has been completed and the project is now being offered for sale (SEE).