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Seabridge Gold Files Second Quarter 2021 Report to Shareholders and…

TORONTO, ON – (Newsfile Corp. – August 12, 2022) – Seabridge Gold (TSX: SEA) (NYSE: SA) announced today that it has completed its report to shareholders, interim financial statements and management’s discussion and analysis for the three month period ended June 30, 2022 on SEDAR (www.sedar.com). To view these documents on the company’s website, please see https://www.seabridgegold.com/investors/financial-reports.

Current Highlights

  • NI-43-101 Technical Report Submitted for the KSM Project
  • 2022 PFS Elevates KSM’s profitability and sustainability to a much higher level
  • 2022 PEA shows potential to extend mine life by an additional 39 years with focus on copper
  • At KSM, activities that have already started will essentially be continued
  • Exploration is ongoing at Iskut focused on gold-copper porphyry opportunities
  • Two new internal senior officer appointments

Financial results
For the three month period ended June 30, 2022, Seabridge reported net income of $19.1 million ($0.24 per share) compared to net income of $14.5 million ($0.19 per share). per share) for the same period in 2021. In the second quarter, Seabridge invested $27.2 million in project expenditures on mineral interests compared to $12.2 million in the second quarter of 2021. At June 30, 2022, net working capital was 244.8 $36.9 million compared to $36.9 million as of December 31, 2021.

Seabridge holds 100% interest in several North American gold projects. Seabridge’s assets include the KSM and Iskut projects in northwestern British Columbia, Canada’s “Golden Triangle”, the Courageous Lake project in the Northwest Territories of Canada, the Snowstorm project in the Getchell Gold Belt of northern Nevada and the 3 Aces project in the Yukon Area. A complete breakdown of Seabridge’s Mineral Reserves and Mineral Resources by category is available on Seabridge’s website at http://www.seabridgegold.com.

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