Seabridge Gold Inc. engages in the acquisition, exploration, engineering and permitting of gold and copper properties in North America. Its principal projects are the 100%-owned KSM and Iskut projects located in northwest British Columbia, Canada’s “Golden Triangle”; the Courageous Lake property situated in Northwest Territories, Canada; the 3 Aces project located in the Yukon Territory, Canada; and the Snowstorm project located on the Getchell Gold Belt of Northern Nevada.

The 2022 Preliminary Feasibility Study (“PFS”) on KSM estimates proven and probable reserves totalling 47.3 million ounces of gold, 7.3 billion pounds of copper and 160 million ounces of silver. At $1742 gold and $3.53 copper, the study projects a 33 year, open-pit only mine life, generating an after tax net present value (at 5%) of US$7.9 billion and a life of mine total cost (including all capital, reclamation and closure costs) of US$601 per ounce of gold produced after base metal credits. At current spot metal prices and exchange rates, the after-tax NPV increases to over US$19B and the life mine average total costs decreases to below US$450 per ounce. Over the 33- year mine life, average annual metal production is estimated at 1.0 million ounces of gold, 178 million pounds of copper and 3.0 million ounces of silver.

Courageous Lake hosts 11.0 million ounces of measured and indicated gold resources at an average grade of 2.4 grams per tonne. A new 43-101 Technical report on Courageous Lake demonstrates the potential for a mine life of 28 years producing on average 200,000 ounces of gold per year.

For 25 years Seabridge has focused on generating optionality and leverage to the gold price for its shareholders by growing ounces in the ground faster than shares outstanding. From 2003 through 2024, Seabridge’s ounces of gold resources have grown by 1,075% while shares outstanding have only grown by 233%.

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