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Seabridge Gold Releases Financial Results and Updates on Strategic Initiatives

Toronto, Ontario–(Newsfile Corp. – March 27, 2025) – Seabridge Gold (TSX: SEA) (NYSE: SA) has announced today the filing of its Annual Information Form, Audited Consolidated Financial Statements, and Management’s Discussion and Analysis for the fiscal year that ended on December 31, 2024. These essential documents are available for public access on the SEDAR platform (www.sedarplus.ca) and can also be found on the Company’s official website at Seabridge Gold Financial Reports. Furthermore, the Company will be submitting its Form 40-F to the SEC soon, which will be accessible through EDGAR (www.sec.gov/). Shareholders interested in receiving a hard copy of the complete 2024 audited consolidated financial statements can do so by submitting a written request, and these will be provided free of charge.

Financial Overview and Performance Metrics

For the year ending December 31, 2024, Seabridge Gold reported a net loss of $31.2 million, or $0.35 per share, reflecting a decline when compared to the previous year’s loss of $29.3 million, which also stood at $0.35 per share. Notably, during 2024, Seabridge made a significant investment of $106.3 million into mineral interests, property, and equipment. This figure marks a considerable reduction from the previous year’s investment of $230.2 million. As of December 31, 2024, Seabridge’s net working capital stood at $37.8 million, down from $54.5 million at the same time in 2023.

Key Accomplishments and Future Objectives

Rudi Fronk, the Chairman and CEO of Seabridge Gold, expressed pride in the important milestones achieved throughout 2024. He noted the receipt of a Substantially Started Determination from the BC government, as well as the discovery of a vast system rich in gold and copper mineralization on the Company’s Iskut project. In addition, Fronk highlighted ongoing discussions with leading global mining companies regarding the possibility of forming a strategic partnership for the KSM project. Looking ahead, he emphasized that the overriding corporate objective for 2025 is to successfully secure a partner for the KSM project that possesses the requisite technical, financial, and social expertise necessary to move towards a production decision.

Recent Financial Moves to Strengthen the Company

In February 2025, Seabridge bolstered its financial position by successfully completing two equity financing initiatives, garnering gross proceeds totaling $142.5 million (or US$100 million). This comprised a bought-deal financing of 6,540,000 common shares at a price of US$12.25 per share, accompanied by a similar private placement involving an additional 1,640,000 shares sold at the same price to a strategic investor. The net proceeds from these financings are earmarked for several important tasks. These include payments to BC Hydro related to the completion of the KSM switching station, the gathering of field data critical for a bankable feasibility study, addressing data requirements associated with the joint venture process, funding ongoing operations at Seabridge’s wholly-owned KSM gold-copper project in northeast British Columbia, and covering general corporate expenses.

Exploration and Project Holdings

Seabridge Gold boasts a 100% ownership stake in numerous gold projects across North America, including its premier assets such as the KSM and Iskut projects located within British Columbia’s famed "Golden Triangle." Additionally, the Courageous Lake project is positioned in Canada’s Northwest Territories, the Snowstorm project resides within Northern Nevada’s Getchell Gold Belt, and the 3 Aces project is situated in the Yukon Territory. For a detailed breakdown of Seabridge’s mineral reserves and resources classified by category, interested parties should visit the Company’s website at Seabridge Gold.

Role of AI legalese decoder in Analyzing Financial Documentation

As Seabridge Gold releases significant financial information and corporate strategies, stakeholders must navigate through extensive legal and financial documentation. This complexity can be daunting, especially for shareholders and potential investors who may be unfamiliar with legal terminology and jargon present in these filings. This is where the AI legalese decoder can play a pivotal role. The AI-driven tool simplifies complex legal language, making it more accessible and understandable for laypersons. By using the AI legalese decoder, stakeholders can grasp essential details and analyses of the financial statements and corporate announcements, enhancing their ability to make informed decisions regarding their investments and engagement with the company.

Disclaimer

Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accept responsibility for the adequacy or accuracy of this release.

Contact Information

For further inquiries or more information, please contact:

• Rudi P. Fronk, Chairman and CEO
• Tel: (416) 367-9292
• Fax: (416) 367-2711
• Email: info@seabridgegold.com

To view the source version of this press release, please visit Newsfile Source.

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