Seabridge Gold

Snowstorm: ACQUISITION AGREEMENT

Acquisition Agreement

In June, 2017, Seabridge completed the purchase of all of the outstanding shares of PFR Gold Holdings, LP ("PFR"), a private company formerly known as Paulson Gold Holdings, LP. PFR held a 100% interest in the Snowstorm Project. The purchase price was 700,000 Seabridge common shares and 500,000 common share purchase warrants exercisable for four years at $15.65 per share. In addition, Seabridge agreed to pay: (i) a conditional cash payment of US$2.5 million if exploration activities at Snowstorm result in defining a minimum of five million ounces of gold resources compliant with National Instrument 43-101; and (ii) a further cash payment of US$5.0 million upon the delineation of an additional five million ounces of gold resources.