Mr. Rudi Fronk reports

SEABRIDGE GOLD ANNOUNCES RESULTS FROM METALLURGICAL TEST PROGRAM AT SNIP NORTH

Seabridge Gold Inc. has received robust results from its inaugural metallurgical test program on drill core samples from the Snip North deposit, one of the targets on the 100-per-cent-owned Iskut gold-copper project in British Columbia's Golden Triangle. The program confirms that Snip North mineralization responds very well to conventional flotation and excellent recoveries can be expected.

Highlights

A total of 10 drill core interval samples and four composite samples from the Snip North deposit taken from the 2025 exploration program have been tested at ALS Metallurgy in Kamloops, B.C., representing the first systematic metallurgical assessment of the Snip North deposit. The test procedures followed the flotation flow sheet established for Seabridge's KSM project. Snip North metallurgy is similar to the Mitchell deposit.

Locked cycle tests (LCTs) at a primary grind size of 80 per cent passing approximately 130 microns summarized in table 1 show copper-gold-molybdenum concentrates with grades ranging from 20 per cent to 28 per cent copper and 83 grams per tonne (g/t) to 525 g/t gold from samples with head grades ranging from 0.04 per cent to 0.26 per cent copper and 0.4 g/t to 1.21 g/t gold. Gold and copper recovery to the bulk flotation concentrate was excellent.

Molybdenum recovery indicates that a separate molybdenum concentrate can also be produced. Copper and gold grades in the LCT concentrates are expected to increase further after molybdenum concentrate separation.

Cyanide leaching completed on the first three pyritic concentrates from LCTs had excellent recoveries as shown in table 2 with overall gold recoveries increasing to between 85.3 per cent and 92.7 per cent.

Initial bond work index tests results ranged from 9.9 to 11.9 kilowatt-hours per tonne, indicating that mineralization is generally soft and will be suitable for conventional SAB or SABC grinding circuits.

These results confirm a robust metallurgical response to flotation and will support the development of a maiden resource statement for Snip North.

Commenting on the study, Seabridge chair and chief executive officer Rudi Fronk said, "These robust metallurgical results from the Snip North maiden test program provide a strong foundation to support the upcoming maiden resource estimate."

Qualified persons

Tracey Meintjes, PEng, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained in this news release on behalf of Seabridge Gold.

About Seabridge Gold Inc.

Seabridge holds a 100-per-cent interest in several North American gold projects. Seabridge's principal asset, the KSM project, and its Iskut projects are located in northwestern British Columbia, Canada's Golden Triangle, the Courageous Lake project is in Canada's Northwest Territories, the Snowstorm project is in the Getchell gold belt of northern Nevada, and the 3 Aces project is in Yukon. For a full breakdown of Seabridge's mineral reserves and mineral resources by category, please visit Seabridge's website.

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