Seabridge Gold (SEA) Corporate presentation summary

Growth and leverage to gold and copper

• Achieved over 1,075% growth in gold resources since 2003, with shares outstanding up 286% in the same period, outpacing dilution.

• Ranks first among North American gold and copper companies in reserves and resources per share.

• Delivered 20,000% relative stock performance since 1999, outperforming major gold peers.

• Maintains a 26-year track record of creating shareholder value in rising gold markets.

KSM project highlights

• KSM is the world’s largest gold resource and third largest copper development resource, with 89M oz M&I and 71M oz inferred gold, and 9M tonnes M&I and 17M tonnes inferred copper.

• 2022 PFS outlines a 33-year mine life, averaging over 1M oz gold and 178M lbs copper annually, with robust economics and significant upside at higher metal prices.

• Over $500M invested in early works, securing key permits and a 'Substantially Started' designation in July 2024.

• Extensive infrastructure in place, including power, roads, bridges, and fish habitat, with strong First Nations partnerships.

• JV discussions advancing with major mining companies, with no fatal technical, economic, or social flaws identified.

Project portfolio and exploration

• Owns 100% of five major North American projects: KSM, Courageous Lake, Iskut, 3 Aces, and Snowstorm.

• Courageous Lake PFS (2024) shows a profitable mine with 201,000 oz/year gold production, $999/oz AISC, and a 20.6% IRR; spin-out to shareholders planned for 2026.

• Iskut project expanded resources by 3.2M oz gold and 0.5B lbs copper; new discovery at Snip North with maiden resource estimate expected Q1 2026.

• 3 Aces project in Yukon features high-grade gold zones, with 2024–2025 drilling refining the model and a $5M 2025 exploration program.

• Snowstorm project in Nevada targets major gold discoveries at the intersection of three prolific gold belts.