10 August 2020
Seabridge Gold reported today that it has filed its Report to Shareholders, Interim Financial Statements and Management’s Discussion and Analysis for the three and six months ended June 30, 2020 on SEDAR (www.sedar.com ). To view the Report on the Company’s website, please see: http://seabridgegold.net/sharefinrep.php.
Recent Highlights
Filed new NI-43-101 Technical Report confirming dramatic improvement in KSM’s economic potential
Completed the acquisition of the 3 Aces exploration project in Yukon, Canada
Initiated geotechnical drill program along KSM’s tunnel route; drilling now in progress
Initiated an exploration program at our Iskut gold-copper porphyry target; drilling now in progress
Began mobilizing for 3rd Quarter Snowstorm drill campaign; drilling to begin in late August
Closed $37.1 million in equity financings during the 2nd Quarter
During the three-month period ended June 30, 2020 Seabridge posted a net loss of $4.1 million ($0.06 per share) compared to a loss of $2.0 million ($0.03 per share) for the same period in 2019. During the 2nd quarter, Seabridge invested $4.4 million in mineral interests project spending compared to $4.3 million in the second quarter of 2019. At June 30, 2020, net working capital was $40.3 million compared to $12.5 million at December 31, 2019.
Seabridge Gold holds a 100% interest in several North American gold resource projects. The Company's principal assets are the KSM and Iskut properties located near Stewart, British Columbia, 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 at www.seabridgegold.net/resources.php .