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Seabridge Gold Issued 6,433,000 Common Shares and 4,567,000 Special Warrants of Calico Resources Corp.

Seabridge Gold Inc. ( SA ) announced that it has been issued, on behalf of its wholly-owned subsidiary, Seabridge Gold Corporation, 6,433,000 common shares and 4,567,000 Special Warrants of Calico Resources Corp. (CKB.V) upon exercise, by Calico, of its option to acquire a 100% interest in the Grassy Mountain Project from Seabridge. Each Special Warrant is exercisable to acquire one additional common share of Calico for no additional consideration. The Special Warrants can only be exercised to the extent that, after exercise, Seabridge holds less than 20% of the outstanding shares of Calico.

The Acquired Shares represent 15.3% of the outstanding shares of Calico. The Acquired Shares together with the Special Warrant Shares, if issued, would represent 23.5% of the outstanding shares of Calico. In total, Seabridge now owns and controls 8,433,000 common shares of Calico and 4,567,000 Special Warrants of Calico, representing 19.99% of the outstanding common shares and 100% of the outstanding Special Warrants of Calico. If Seabridge could and did exercise the Special Warrants in full, it would hold 13,000,000 common shares of Calico, representing 27.8% of Calico's outstanding shares. Seabridge is not acting jointly or in concert with any person.

The Acquired Shares and the Special Warrants were issued in a private transaction and are subject to a Canadian hold period expiring on June 6, 2013 and US resale restrictions.

Seabridge intends to exercise its Special Warrants to the extent they become exercisable from time to time. Seabridge does not presently intend to make further investments in Calico.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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