Seabridge Gold Inc. - KSM Project Update

Seabridge Gold Inc. announced that the decision to issue permit amendments for the construction and operation of the Mitchell Treaty Tunnels (MTT) for their KSM Project has been delayed. The delay is due to a legal challenge by Tudor Gold Corp. regarding the applicability of Seabridge's conditional mineral reserve (CMR) over Tudor's pre-existing mineral claims. The Ministry of Mining and Critical Minerals of British Columbia will not make a decision on the permit until this legal issue is resolved. Seabridge is confident in the CMR's validity but acknowledges the legal dispute. The company also stated that construction of the MTT will not commence until a Final Feasibility Study is complete. Seabridge remains open to amicable solutions with Tudor if they present an approved mine plan for their Goldstorm Project.