FCMI Financial Corporation Acquires Shares of Seabridge Gold Inc.

    TORONTO, Feb. 18 /CNW/ - FCMI Financial Corporation ("FCMI Financial")
has acquired 375,000 common shares of Seabridge Gold Inc. (TSX-V:SEA, AMEX:  
SA) through the facilities of the American Stock Exchange at prices ranging
between US$17.22 and US$17.40 per common share.
    FCMI Financial, a company controlled by Albert D. Friedberg and members
of his immediate family, owns 555,000 common shares, its affiliate Pan
Atlantic Bank and Trust Ltd. owns 7,474,116 common shares and Albert D.
Friedberg and his spouse own 43,400 common shares, so that FCMI Financial and
persons acting jointly or in concert with it, own an aggregate of 8,072,516
common shares, representing 21.61% of the total outstanding common shares.
    FCMI Financial has purchased such common shares for investment purposes
and intends, subject to market conditions, to make additional acquisitions or
dispositions in securities of Seabridge in the future.
    In addition, accounts managed by affiliates of FCMI Financial have
disposed of an aggregate of 372,032 common shares of Seabridge at prices
ranging between US$17.40 and US$17.43 per common share and no longer hold any
common shares of Seabridge.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.

For further information:

For further information: Henry Fenig: Tel: (416) 350-2890, Fax: (416)

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Seabridge Gold Inc.

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