Seabridge Gold Ups the Ante with Nevada Acquisition Deal and Updated Resource at Deep Kerr

Disclosures from National Bank Financial, Seabridge Gold Inc., Feb. 16, 2017
Research Analysts – The Research Analyst(s) who prepare these reports certify that their respective report accurately reflects his or her personal opinion and that no part of his/her compensation was, is, or will be directly or indirectly related to the specific recommendations or views as to the securities or companies.

NBF compensates its Research Analysts from a variety of sources. The Research Department is a cost centre and is funded by the business activities of NBF including, Institutional Equity Sales and Trading, Retail Sales, the correspondent clearing business, and Corporate and Investment Banking.

All of the views expressed in this research report accurately reflect the research analysts’ personal views regarding any and all of the subject securities or issuers. No part of the analysts’ compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report. The analyst responsible for the production of this report certifies that the views expressed herein reflect his or her accurate personal and technical judgment at the moment of publication. Because the views of analysts may differ, members of the National Bank Financial Group may have or may in the future issue reports that are inconsistent with this report, or that reach conclusions different from those in this report. To make further inquiry related to this report, United States residents should contact their NBCFI registered representative. 

Additional Company related disclosures for Seabridge Gold Inc.
--National Bank Financial Inc. has provided investment banking services for Seabridge Gold Inc. within the past 12 months.

--National Bank Financial Inc. or an affiliate has managed or co-managed a public offering of securities with respect to Seabridge Gold Inc. within the past 12 months

--National Bank Financial Inc. or an affiliate has received compensation for investment banking services from Seabridge Gold Inc. within the past 12 months.

--Seabridge Gold Inc. is a client, or was a client, of National Bank Financial Inc. or an affiliate within the past 12 months.

--As of the end of the month immediately preceding the date of publication of this research report (or the end of the second most recent month if the publication date is less than 10 calendar days after the end of the most recent month), National Bank Financial Inc. or an affiliate beneficially own 1% or more of any class of common equity securities of Seabridge Gold Inc..

--National Bank Financial Inc. has acted as an underwriter with respect to Seabridge Gold Inc. within the past 12 months.

Click on the following link to see National Bank Financial Markets Statement of Policies http://nbfm.ca/en/statement-of-policies/.

Cantor Fitzgerald, Precious Metals & Mining Macro Industry Report, Jan. 23, 2017
The author of this report is compensated based in part on the overall revenues of Cantor, a portion of which are generated by investment banking activities. Cantor may have had, or seek to have, an investment banking relationship with companies mentioned in this report. Cantor and/or its officers, directors and employees may from time to time acquire, hold or sell securities mentioned herein as principal or agent. Although Cantor makes every effort possible to avoid conflicts of interest, readers should assume that a conflict might exist, and therefore not rely solely on this report when evaluating whether or not to buy or sell the securities of subject companies.

 Disclosures as of January 23, 2017
--Cantor has provided investment banking services or received investment banking related compensation from Seabridge within the past 12 months: No.
--The analysts responsible for this research report do not have, either directly or indirectly, a long or short position in the shares or options of any of the companies under coverage.
--The analyst responsible for this report has visited the material operations of Seabridge. No payment or reimbursement was received for the related travel costs.

Analyst certification
The research analyst whose name appears on this report hereby certifies that the opinions and recommendations expressed herein accurately reflect his personal views about the securities, issuers or industries discussed herein.