Seabridge Gold Inc. Announces Updated Mineral Resource Estimates for KSM Project

Seabridge Gold's KSM Project reveals massive mineral reserve expansion in 2024

Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) ("Seabridge") announced today updated Mineral Resource Estimates for its KSM Project located in northwestern British Columbia using metal prices of US$2,000/oz Au, US$4.00/lb Cu, US$25/oz Ag, and US$ 22/lb Mo at a currency exchange rate of 0.746 US$ per 1.00 Cdn$.

Key Highlights

• Measured and Indicated Mineral Resources increase by 6.8 million ounces of gold, 1.5 billion pounds of copper, 42.7 million ounces of silver and 93 million pounds of molybdenum compared to the last resource update in January 2024.
• Inferred Mineral Resources increase by 12.9 million ounces of gold, 4.2 billion pounds of copper, 108.8 million ounces of silver and 140 million pounds of molybdenum compared to the last resource update in January 2024.

Mineral Resource Estimates

The updated Mineral Resource Estimates for KSM are as follows:

Measured Resources

| Deposit | Tonnes (000) | Gold Grade (g/t) | Gold Ounces (millions) | Copper Grade (%) | Copper Pounds (millions) | Silver Grade (g/t) | Silver Ounces (millions) | Molybdenum Grade (ppm) | Molybdenum Pounds (millions) | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Mitchell - OP | 700,000 | 0.67 | 15.1 | 0.19 | 2,932 | 3.26 | 73.4 | 52 | 80 | | East Mitchell - OP | 1,105,000 | 0.62 | 22.0 | 0.11 | 2,680 | 1.78 | 63.2 | 86 | 210 | | Total Measured | 1,805,000 | 0.64 | 37.1 | 0.14 | 5,612 | 2.35 | 136.6 | 73 | 290 |

Indicated Resources

| Deposit | Tonnes (000) | Gold Grade (g/t) | Gold Ounces (millions) | Copper Grade (%) | Copper Pounds (millions) | Silver Grade (g/t) | Silver Ounces (millions) | Molybdenum Grade (ppm) | Molybdenum Pounds (millions) | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Mitchell - OP | 1,922,000 | 0.46 | 28.4 | 0.13 | 5,508 | 2.7 | 166.8 | 65 | 274 | | East Mitchell - OP | 1,069,000 | 0.36 | 12.4 | 0.08 | 1,885 | 1.5 | 52.9 | 73 | 172 | | Sulphurets - OP | 477,000 | 0.53 | 8.1 | 0.20 | 2,103 | 1.0 | 15.3 | 50 | 53 | | Kerr - OP | 396,000 | 0.21 | 2.7 | 0.38 | 3,318 | 1.1 | 14 | 4 | 4 | | Kerr - UG | 31,000 | 0.21 | 0.2 | 0.40 | 273 | 1.5 | 1.5 | 12 | 1 | | Iron Cap - UG | 555,000 | 0.37 | 6.6 | 0.20 | 2,447 | 4.1 | 72.8 | 35 | 43 | | Total Indicated | 4,450,000 | 0.41 | 58.4 | 0.16 | 15,534 | 2.3 | 323.3 | 56 | 547 |

Measured plus Indicated Resources

| Deposit | Tonnes (000) | Gold Grade (g/t) | Gold Ounces (millions) | Copper Grade (%) | Copper Pounds (millions) | Silver Grade (g/t) | Silver Ounces (millions) | Molybdenum Grade (ppm) | Molybdenum Pounds (millions) | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Mitchell - OP | 2,622,000 | 0.52 | 43.5 | 0.15 | 8,440 | 2.8 | 240.2 | 61 | 354 | | East Mitchell - OP | 2,174,000 | 0.49 | 34.4 | 0.10 | 4,565 | 1.7 | 116.1 | 80 | 382 | | Sulphurets - OP | 477,000 | 0.53 | 8.1 | 0.20 | 2,103 | 1.0 | 15.3 | 50 | 53 | | Kerr - OP | 396,000 | 0.21 | 2.7 | 0.38 | 3,318 | 1.1 | 14.0 | 4 | 4 | | Kerr - UG | 31,000 | 0.21 | 0.2 | 0.40 | 273 | 1.5 | 1.5 | 12 | 1 | | Iron Cap - UG | 555,000 | 0.37 | 6.6 | 0.20 | 2,447 | 4.1 | 72.8 | 35 | 43 | | Total Measured + Indicated | 6,255,000 | 0.48 | 95.5 | 0.15 | 21,146 | 2.3 | 459.9 | 61 | 837 |

Inferred Resources

| Deposit | Tonnes (000) | Gold Grade (g/t) | Gold Ounces (millions) | Copper Grade (%) | Copper Pounds (millions) | Silver Grade (g/t) | Silver Ounces (millions) | Molybdenum Grade (ppm) | Molybdenum Pounds (millions) | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Mitchell - OP | 1,980,000 | 0.26 | 16.6 | 0.12 | 5,238 | 2.36 | 150.2 | 45.8 | 200 | | East Mitchell - OP | 589,000 | 0.30 | 5.7 | 0.06 | 779 | 1.83 | 34.7 | 58.1 | 75 | | Sulphurets - OP | 326,000 | 0.39 | 4.1 | 0.11 | 791 | 1.35 | 14.1 | 26.0 | 19 | | Kerr - OP | 106,000 | 0.24 | 0.8 | 0.18 | 421 | 1.07 | 3.6 | 4.9 | 1 | | Kerr - UG | 2,699,000 | 0.27 | 23.4 | 0.34 | 20,231 | 1.7 | 147.5 | 21.1 | 126 | | Iron Cap - UG | 2,769,000 | 0.38 | 33.8 | 0.25 | 15,262 | 2.47 | 219.9 | 30.3 | 185 | | Total Inferred | 8,469,000 | 0.31 | 84.4 | 0.23 | 42,722 | 2.1 | 570 | 32.5 | 606 |

Qualified Persons

Henry Kim P.Geo., the independent Qualified Person and Principal Resource Geologist with Wood Canada Limited, has reviewed and approved the scientific and technical information contained in this press release.

About Seabridge Gold

Seabridge holds a 100% interest in several North American gold projects. Seabridge's principal asset, the KSM project, and its Iskut projects are located in Northwest British Columbia, Canada's "Golden Triangle", the Courageous Lake project is in Canada's Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada, and the 3 Aces project is in the Yukon Territory.