05:31:58 EDT Mon 06 Apr 2020
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Seabridge Gold Inc
Symbol SEA
Shares Issued 63,504,403
Close 2020-03-24 C$ 12.76
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Seabridge mulls over Iskut, Snowstorm drill programs

2020-03-25 07:30 ET - News Release

Mr. Rudi Fronk reports


Seabridge Gold Inc. has provided an update on its response to the special challenges posed by COVID-19. The company's first priority is the safety and well-being of its employees and contractors. As a result, Seabridge has taken steps to accentuate its operation as a virtual company by eliminating in-person meetings and business travel and encouraging work from home. The company is also exploring having its annual meeting on-line so that more shareholders can attend while in the safety of their own homes.

Further responses to COVID-19

Updated National Instrument 43-101 KSM technical report

The company's most important work product this year is the completion of an updated NI 43-101 technical report on its 100-per-cent-owned KSM project located in British Columbia, Canada. This work should be completed in the next 30 to 45 days despite the impact of COVID-19. The updated report is of great importance to us because it embraces a redesign of KSM that should enable the company to capture the potential of the new higher-grade additions it has made to the Iron Cap resource. The redesign is expected to reduce the project's footprint while enhancing estimated metal production and improving capital and operating costs.

Planned 2020 field activities

This year's budget includes drill programs at the company's 100-per-cent-owned Iskut project in British Columbia, Canada, and at its 100-per-cent-owned Snowstorm project in Nevada. The company is evaluating whether or not it makes sense to proceed with these programs given the difficult operating requirements imposed by the virus and the need to protect the company's work crews. The company expects to make decisions on these programs in May once it knows more about the evolution of the virus and the impact of public health measures being taken to address it. Delaying these programs by a year would not impact the company's obligations or its landholdings but the company remains hopeful that it can proceed this year since it thinks each of these targets is ripe for a new discovery. Continuing compliance with the company's existing permits and regulatory authorizations will continue as required.

About Seabridge Gold Inc.

Seabridge Gold holds a 100-per-cent interest in several North American gold resource projects. The company's principal assets are the KSM and Iskut properties located near Stewart, B.C., Canada, and the Courageous Lake gold project located in Canada's Northwest Territories. For a breakdown of Seabridge's mineral reserves and resources by project and category please visit the company's website.

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