17 December 2020
Seabridge Gold Inc. announced today it has closed its previously announced acquisition of the Snowfield Property from Pretium Resources Inc. The Snowfield Property hosts a large gold resource immediately adjacent to Seabridge’s 100%-owned KSM gold-copper project in northeast British Columbia, Canada. The acquisition enables exciting new development opportunities for KSM which could have a significant positive impact on project economics.
The Snowfield Property, located in the same valley that hosts KSM’s Mitchell Deposit (see attached map), was purchased from Pretivm for US$100 million (the "Cash Payment"), a 1.5% net smelter royalty (NSR) on Snowfield Property production and a future contingent payment of US$20 million of which US$15 million can be credited against future royalty payments. Cantor Fitzgerald Canada Corporation acted as financial advisor to Seabridge on the acquisition.