In KSM and Courageous Lake, Seabridge has explored and developed two world-class assets with a combined resource of 90.3Moz, of which 63.1% is in the measured and indicated categories. Both are in North America, both have the potential to form the basis of large, long-life, low-cost mines and both have been the subject of pre-feasibility studies conducted in 2012. KSM will be the subject of an updated PFS, which is scheduled for imminent release. In the meantime, investors can buy shares in SEA at a resource multiple (market cap/total attributable resource) of c US$7/oz, which is less than the global average cost of discovery of such a resource.

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