April 29, 2003

News Release: Drilling Begins at Thunder Mountain Gold Project

Seabridge announced today that the initial phase of a 6,000 foot drill program is underway at the Thunder Mountain gold project in Nevada which is designed to test targets similar to, and on strike with, the Midway gold-silver deposit (now being explored by Newmont) immediately adjacent to the northwest. The first two targets being drilled are the margins of a rhyolite intrusion and a hydrothermally altered zone at a projected structural intersection. These targets contain the most extensive past production, favorable geochemical indicators, highest temperature mineral assemblages in the altered rock and discrete geophysical targets (magnetic and VLF). The second phase of the drilling will be undertaken after a hiatus to return assays from the first several holes. A detailed description of the target concepts is available on the Company's website at http://www.seabridgegold.net/explor_thund_mtn.htm.

The 4,500 acre 228 claim Thunder Mountain project, located 25 miles east of Tonopah, Nevada, is a joint venture between a 75% owned subsidiary of Seabridge and Castleworth Ventures Inc. Castleworth can earn a 50% interest in the project by (i) spending US$1.5 million in exploration over a three year period and (ii) issuing 1.5 million of its common shares. At the completion of the earn-in, a 50-50 joint venture will be formed with Castleworth as operator.

Seabridge has been designed to provide its shareholders maximum leverage to the price of gold. The Company has acquired a 100% interest in 13.8 million unhedged ounces of gold resources in North America, of which 8.0 million ounces are measured and indicated. (see http://www.seabridgegold.net/gold_resources.htm and press releases dated July 18, 2002, April 17, 2002, April 15, 2002, June 14, 2001; November 7, 2000; October 10, 2000 and April 27, 2000). The Company continues to seek expansion of its gold resource base by acquisition of new projects and exploration programs largely funded by partners.

ON BEHALF OF THE BOARD

Rudi Fronk, President &C.E.O.

Seabridge Gold Inc. Rudi P. Fronk President and C.E.O. (416) 367-9292 (416) 367-2711 (FAX) Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.seabridgegold.net

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