Mr. Rudi Fronk reports

SEABRIDGE GOLD FILES THIRD QUARTER 2023 REPORT TO SHAREHOLDERS AND ITS FINANCIAL STATEMENTS AND MD&A

Seabridge Gold Inc. has filed its report to shareholders, interim financial statements, and management's discussion and analysis for the three-month period ended Sept. 30, 2023, on SEDAR+. These documents are available on the company's website.

Recent highlights:

• KSM substantially started activities continue with plans to file application in January, 2024;
• KSM joint venture process advancing with five companies completing site tours;
• 23 hole drill program completed at Iskut testing Bronson slope and Snip North target;s
• 27-hole drill program completed at 3 Aces designed to confirm geologic model;
• 2023 drill program completed at Snowstorm focused on testing prospective fault zones.

Financial results

During the three-month period ended Sept. 30, 2023, Seabridge posted a net loss of $5.3-million (six cents per share) compared with a net profit of $5.0-million (six cents per share) for the same period last year. During the third quarter, Seabridge invested $73.7-million in mineral interests, compared with $63.4-million during the same period last year. At Sept. 30, 2023, net working capital was $79.9-million compared with $88.4-million at Dec. 31, 2022.

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