UPDATED JULY 2005
Mineral Resources

For additional information on resource estimates, please see the Company's 2005 AIF at
http://www.seabridgegold.net/2005-AIF.pdf

PROJECT

Cut-Off
Grade
(g/T)

Measured

Indicated

Inferred

Tonnes
(000's)

Grade
(g/T)

Ounces
(000's)

Tonnes
(000's)

Grade
(g/T)

Ounces
(000's)

Tonnes
(000's)

Grade
(g/T)

Ounces
(000's)

Courageous Lake(1)

1.00

3,040

2.74

268

41,160

2.47

3,269

65,500

2.32

4,886

Quartz Mountain(2)

0.34

3,480

0.98

110

54,330

0.91

1,591

44,800

0.72

1,043

Red Mountain(3)

1.00

1,260

8.01

324

340

7.04

76

2,079

3.71

248

Castle/Black Rock(4)

0.25

4,120

0.57

75

8,260

0.53

140

7,950

0.37

93

Hog Ranch(5)

0.34

 

 

 

1,450

1.13

53

400

1.68

24
(1) See news release dated December 14,2004.
(2) See news release dated April 17, 2002. The Issuer's 100% interest in the Quartz Mountain Project is subject to the terms of an option agreement with Quincy Gold Corp under which Quincy can earn up to a 62.5% interest in the property.
(3) See news release dated February 17, 2005.
(4) See news release dated October 10, 2000.
(5) See news release dated November 7, 2000.

 
Historical Mineral Resources

PROJECT

Cut-Off
Grade

Measured

Indicated

Inferred

Tonnes
(000's)

Gold
Grade
(g/T)

Ounces
Gold
(000's)

Tonnes
(000's)

Gold
Grade
(g/T)

Ounces
Gold
(000's)

Copper
Grade
(%)

Copper
(million
pounds)

Tonnes
(000's)

Gold
Grade
(g/T)

Ounces
Gold
(000's)

Copper
Grade
(%)

Copper
(million
pounds)

Grassy Mountain(1)

0.68
(g/T Au)

11,790

1.79

680

3,740

3.07

369

n/a

n/a

120

0.90

4

n/a

n/a

Sulphurets(2)


Kerr(2) †

0.50
(g/T Au)

0.40%
copper

 

 

 

39,300



74,030

1.05



0.34

1,332



809

0.32



0.74

2.77



1,208

15,500



66,780

0.92



0.37

458



794

0.33



0.76

113



1,119
(1) Following a detailed review of the supporting data and the independent historic resource estimates prepared in 1990 by Pincock Allan & Holt, Inc. for the Grassy Mountain deposit, William Threlkeld (an officer of the Company and a Qualified Person under National Intrument 43-101) confirms that the historical mineral resource estimate stated above for the Grassy Mountain deposit is relevant and reliable. Mr. Threlkeld also confirms that the definitions of żmeasured resourceî, żindicated resourceî and żinferred resourceî used when calculating the resources do not differ from the definitions of those terms in National Instrument 43-101. The Company°s initial technical disclosure with respect to Grassy Mountain Property was disclosed in the Company's AIF filed on SEDAR on June 26, 2000, before the effective date of National Instrument 43-101. Mr Threlkeld also confirms that since the date of his review of the resource model, there has been no additional exploration activities conducted at the Grassy Mountain project which could result in a change in the above stated historical resource estimates. The Company has commissioned an independent Qualified Person to prepare a mineral resource estimate under National Instrument 43-101 guidelines, for the Grassy Mountain project which is expected to be completed during the 3rd quarter of 2005.
(2) Following a detailed review of the supporting data and the independent historical resource estimates prepared in 1993 by Placer Dome (CLA) Limited. for the Kerr and Sulphurets deposits, William Threlkeld (an officer of the Company and a Qualified Person under National Intrument 43-101) confirms that the historical mineral resource estimates stated above for the Kerr and Sulphurets deposits are relevant and reliable. Mr. Threlkeld also confirms that the definitions of żmeasured resourceî, żindicated resourceî and żinferred resourceî used when calculating the resources do not differ from the definitions of those terms in National Instrument 43-101. The Company°s initial technical disclosure with respect to the Kerr-Sulphurets project was filed in the Company's Material Change Report filed on SEDAR on June 7, 2000, before the effective date of National Instrument 43-101; Mr Threlkeld also confirms that since the date of his review of the resource model, there has been no additional exploration activities conducted at the Kerr-Sulphurets project which could result in a change in the above stated resources. The Company plans to commission an independent Qualified Person to prepare a mineral resource estimate under National Instrument 43-101 guidelines, for the Kerr-Sulphurets project following the completion of the current drill program being undertaken at the project by Falconbridge Limited. The Company°s 100% interest in the Kerr-Sulphurets property is subject to the terms of an option agreement with Falconbridge Limited. under which Falconbridge Limited can earn up to a 65% interest in the property.