<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99.txt
<DESCRIPTION>PRESS RELEASE, AUGUST 5, 2004
<TEXT>
August 5, 2004

                   SEABRIDGE GOLD DRILLING EXPANDS FAT DEPOSIT
                  NEW HIGHER GRADE SOUTHERN EXTENSION CONFIRMED
  INFILL DRILLING SUGGESTS IMPROVED GRADE AND RELIABILITY OF INFERRED RESOURCES
         ENGINEERING STUDY RESCHEDULED TO INCORPORATE NEW DRILL RESULTS


TORONTO, CANADA...The first eight diamond drill holes from this summer's program
at Seabridge Gold's 100% owned Courageous Lake property in the Northwest
Territories have been drilled and assayed. The results confirm the strong
potential for a significant expansion in size and grade of the multi-million
ounce FAT deposit, already Canada's largest undeveloped gold project. Drilling
will resume on August 10 with an additional rig to increase meterage during the
short summer season.

In June, Seabridge commenced a core drilling program at Courageous Lake designed
to test three of nine new bulk mineable gold targets identified in the 2003
summer field program and to upgrade the resource model for the FAT deposit.
Approximately 3,000 meters have been drilled to date in eight holes. Another 12
core holes previously drilled into the FAT deposit by Noranda are now being
sampled with assay results expected in late August. Most of this core was not
sampled and assayed by Noranda.

SOUTH EXTENSION OF FAT DEPOSIT

Holes CL-004 through CL-006 were designed to test for the possible southern
extension of the three main mineralized zones which comprise the FAT deposit.
This potential was not fully explored by previous operators of the FAT deposit
because the ground to the south was independently owned. Seabridge recently
acquired control of the last remaining claim south of the FAT deposit,
consolidating the land position under one ownership for the first time. The
three holes drilled this summer confirm the extension of all three mineralized
zones to the south of the known deposit for at least 300 meters. Results from
these three holes are as follows:

   -------------------------------------------------------------------------
    DRILL HOLE ID    FROM        TO        INTERVAL         GOLD GRADE
                              (METERS)     (METERS)            (G/T)
   -------------------------------------------------------------------------
        CL-004       174.4      196.9        22.5              1.32
   -------------------------------------------------------------------------
        CL-005        31.0       37.0         6.0              3.94
                     183.4      187.9         4.5              1.23
                     200.9      203.8         2.9              1.12
   -------------------------------------------------------------------------
        CL-006       107.7      124.0        16.3              3.28
                     209.7      244.2        34.5              3.91
   -------------------------------------------------------------------------

CL-004 and CL-005 were likely located too far west to intersect the main
mineralized zones. CL-006 found the target zones with the first zone encountered
approximately 75 metres from surface, 300 metres south of the FAT deposit.
Seabridge plans immediately to commence a new 6,000 meter program to drill this
300 meter extension on 50 meter sections so as to define a new resource. It is
important to note that the grade encountered in CL-006 is approximately 80%
higher than the average grade of the FAT deposit resource model.


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INFILL DRILLING ON FAT DEPOSIT
Hole CL-008 was designed to upgrade inferred resources within the heart of the
FAT deposit. These inferred resources generally lie between the upper portion of
the deposit drilled intensively by Placer Dome and the lower part of the deposit
drilled intensively from underground by Noranda. The better than-expected
results from CL-008 not only successfully upgraded inferred resources, but also
encountered wider zones of mineralization (+23%) and higher grades (+67%) than
predicted by the FAT deposit block model. A comparison of actual versus expected
results are as follows:

  ACTUAL RESULTS FROM CL-008                PREDICTED RESULTS FROM BLOCK MODEL
--------------------------------------------------------------------------------
                               GOLD                                       GOLD
 FROM       TO    INTERVAL    GRADE        FROM      TO     INTERVAL     GRADE
(METERS) (METERS) (METERS)    (G/T)      (METERS) (METERS)  (METERS)     (G/T)
--------------------------------------------------------------------------------
 269.1    347.4     78.3       2.98        277.3   341.1      63.8       1.78
--------------------------------------------------------------------------------

Seabridge intends to drill additional infill holes in the current program. The
12 Noranda holes now being sampled and assayed will also assist in upgrading the
inferred resource.

NEW EXPLORATION TARGETS
Seabridge drilled three holes (CL-001 to CL-003) into the Olsen target located
approximately 3.5 kilometers south of the FAT deposit and one hole (CL-007) into
the Walsh Lake target located approximately 7 kilometers south of the FAT
deposit. The Olsen target proved to be more structurally controlled than the FAT
deposit, lacking the dissemination required for a bulk mineable target. Olsen is
therefore being downgraded as a target.

The Walsh Lake target is a 750 meter long zone which has many of the geologic
markers associated with the FAT deposit but has not been previously drilled as a
bulk mineable target. A 10-meter surface channel sample taken from outcrop
across the structure by Seabridge earlier this summer produced a result of
approximately 2.0 grams of gold per tonne. This part of the structure had not be
drilled previously and could not be drilled in the current program due to soft
ground conditions. Hole CL-007 was drilled approximately 100 meters to the south
of the surface sample where little historical information was available.
Exploration results at Walsh Lake to date suggest the potential for a bulk
mineable zone at a satisfactory grade. Detailed geological and geophysical
surveys will be undertaken as the next step to better define this target with
additional drilling during the winter season when ground conditions will not be
a factor.

Results of the Olsen and Walsh Lake drilling are as follows:

    DRILL HOLE ID    FROM        TO        INTERVAL         GOLD GRADE
                   (METERS)    (METERS)    (METERS)           (G/T)
    ----------------------------------------------------------------------------
       CL-001         40.2       55.3         15.1             2.01
    ----------------------------------------------------------------------------
       CL-002                    No significant intercepts
    ----------------------------------------------------------------------------
       CL-003        161.0      165.5          4.5             1.96
    ----------------------------------------------------------------------------
       CL-007        106.7      110.5          3.8             2.53
                     140.3      142.0          1.7             6.28
    ----------------------------------------------------------------------------

Seabridge's Courageous Lake project covers 53 kilometers of the Matthews Lake
Greenstone Belt which hosts the 2 kilometer long FAT deposit. The FAT deposit


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contains an estimated 3.18 million ounces in the measured and indicated
categories (48.0 million tonnes grading 2.06 grams of gold per tonne) plus an
additional estimated 4.33 million ounces in the inferred category (65.1 million
tonnes grading 2.07 grams of gold per tonne).

The Company has commissioned Hatch, an independent consulting firm, to prepare a
Technical Assessment of the FAT deposit. This study was originally scheduled to
be completed in July 2004. The better-than-expected drill results from the
current program point to the potential for a significant enhancement of the FAT
deposit resource model and mine plan. Therefore, on the recommendation of Hatch,
Seabridge has elected to reschedule the completion of the engineering study
until the 2004 drilling program has been completed and the data incorporated
into a revised model. Hatch estimates that their final report should now be
completed in December 2004. Seabridge is also considering a larger drill program
to upgrade the inferred resource as would be required for a feasibility study.

NATIONAL INSTRUMENT 43-101 DISCLOSURE
Exploration activities at the Courageous Lake gold project are being conducted
under the supervision of William E. Threlkeld, Registered Professional
Geologist, Senior Vice President of the Company and a Qualified Person as
defined by National Instrument 43-101.

Seabridge has been designed to provide its shareholders maximum leverage to the
price of gold. The Company has acquired a 100% interest in eight North American
gold projects which collectively contain an estimated 8.74 million ounces of
resources in the measured and indicated categories (250.1 million tonnes grading
1.09 grams of gold per tonne) plus an additional estimated 6.83 million ounces
of resources in the inferred category (201.0 million tonnes grading 1.06 grams
of gold per tonne). (See HTTP://WWW.SEABRIDGEGOLD.NET/GOLD_RESOURCES.HTM for a
breakdown of these gold resources by project). The Company continues to seek
expansion of its gold resource base by acquisition of new projects and
exploration programs largely funded by partners.

All resource estimates reported in this disclosure are 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.

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)


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for the year ended December 31, 2002 and in the Company's 20-F filed with the
U.S. Securities and Exchange Commission (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. Seabridge undertakes no obligation to update these
forward-looking statements if such beliefs, estimates or opinions or other
factors should change.

ON BEHALF OF THE BOARD

"Rudi Fronk,"
President & C.E.O.

FOR FURTHER INFORMATION PLEASE CONTACT:
Rudi P. Fronk, President and C.E.O.
Tel: (416) 367-9292  Fax: (416) 367-2711
Email: INFO@SEABRIDGEGOLD.NET              HOME            STOCK QUOTE
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