Seabridge Gold Files Third Quarter 2025 Report to Shareholders and Its Financial Statements and MD&A

Core Viewpoint - Seabridge Gold reported a net loss for Q3 2025, while increasing investments in mineral interests and improving net working capital compared to the previous year [3][4]. Financial Results - Seabridge Gold posted a net loss of $32.3 million ($0.32 per share) for the three-month period ended September 30, 2025, compared to a net loss of $27.6 million ($0.31 per share) for the same period last year [3]. - The company invested $52.9 million in mineral interests during Q3 2025, up from $28.1 million in Q3 2024 [3]. - As of September 30, 2025, Seabridge's net working capital was $83.2 million, an increase from $37.8 million at December 31, 2024 [3]. Company Assets - Seabridge Gold holds a 100% interest in several North American gold projects, including the KSM and Iskut projects in Northwest British Columbia, the Courageous Lake project in the Northwest Territories, the Snowstorm project in Northern Nevada, and the 3 Aces project in the Yukon Territory [4]. Operational Updates - KSM field activities and partnership discussions are ongoing, with a 24,000 meter drill program at Iskut in 2025 confirming a new large porphyry deposit at Snip North [7]. - Court hearings have been completed on petitions challenging KSM's substantially started designation, with three additional challenges filed by Tudor Gold against KSM's Mitchell-Treaty-Tunnel authorizations [7]. - The 2025 exploration program at the 3 Aces project has been completed [7].