Seabridge Gold Provides Updated Mineral Resource Estimates for KSM Project

Core Viewpoint - Seabridge Gold Inc. has updated its Mineral Resource Estimates for the KSM Project, reflecting significant increases in measured and inferred resources due to revised metal price assumptions and operating costs [1][3]. Summary by Category Mineral Resource Estimates - Measured and Indicated Mineral Resources increased by: - 6.8 million ounces of gold - 1.5 billion pounds of copper - 42.7 million ounces of silver - 93 million pounds of molybdenum compared to the last update in January 2024 [2] - Inferred Mineral Resources increased by: - 12.9 million ounces of gold - 4.2 billion pounds of copper - 108.8 million ounces of silver - 140 million pounds of molybdenum compared to the last update in January 2024 [2] Resource Model and Assumptions - The mineral resource model remains unchanged; only the metal prices and costs used to constrain the resources and calculate cut-offs have been updated [2][10]. - The updated estimates are based on metal prices of: - US$2,000/oz Au - US$4.00/lb Cu - US$25/oz Ag - US$22/lb Mo - Currency exchange rate of 0.746 US$ per 1.00 Cdn$ [1][7]. Detailed Resource Breakdown - Total Measured and Indicated Resources: - 6,255,000 tonnes with 95.5 million ounces of gold, 21,146 million pounds of copper, 459.9 million ounces of silver, and 837 million pounds of molybdenum [4]. - Inferred Resources: - 8,469,000 tonnes with 84.4 million ounces of gold, 42,722 million pounds of copper, 570 million ounces of silver, and 606 million pounds of molybdenum [4]. Management Commentary - Seabridge's Chair and CEO, Rudi Fronk, stated that the resource restatements reflect gains from updated metal price parameters and operating costs, aligning with Tier 1 mining company disclosures as the company moves towards a joint venture on KSM [3]. Technical Validation - The Mineral Resource Estimates have been verified and endorsed by an independent Qualified Person, ensuring compliance with CIM Definition Standards for Mineral Resources and Mineral Reserves [5][6].