In September 2022, Seabridge was awarded the 2022 Jake McDonald Annual Mine Reclamation Award presented annually by the British Columbia Technical and Research Committee on Reclamation (TRCR) to recognize outstanding achievement in mine reclamation in British Columbia The award recognizes the multi-year $12 million environmental and reclamation program Seabridge is voluntarily undertaking with the Tahltan Nation at our 100%-owned Iskut Project, located in the transboundary region of northwest British Columbia, bordering southeast Alaska. The comprehensive program is reclaiming the former Johnny Mountain Mine (JMM) which operated in the late 1980s, by bringing the site back to its pre-mining conditions.

Seabridge has a 25-year track record of significantly outperforming the gold price and other gold equities. Since inception, the gold price is up by over 600% while Seabridge’s share price is up by over 7,000%.

The KSM Mine has the potential to be an exemplary operation generating one of the world’s lowest levels of greenhouse gas (GHG) emissions per tonne of copper produced. There are a numberof advantageous conditions that support targeting KSM as a low emission mine including:

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1. The KSM mine will be hydro-electric powered

KSM will obtain electrical power from the BC Hydro grid which derives power from hydro-electric dams. With hydro-electric generation capacity of 43,000 gigawatt hours annually and an additional 1,100 megawatts (MW) of hydro power coming online in 2025 from itsSite C project, BC Hydro will be the primary source of energy for the KSMProject. The KSM processing facilities will be the largest energy consumer and will entirely rely on low emissions hydro power.

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2. Mine Electrification

Most of the estimated GHG emissions from the KSM Mine are from waste and ore hauling in the mine area. We are engaged in making innovative design changes to substantially reduce this area of concern. In our 2022 PFS, we changed the project design from conventional diesel haul trucks to electric trolley assist to reduce GHG emissions.

Seabridge’s 100%-owned KSM and Courageous Lake projects provide more than 50 million ounce of gold and 7 billion pounds of copper in proven and probable reserves all in Canada. Furthermore, KSM’s 47.3 million ounces of gold and 7.3 billion pounds of copper reserves have obtained federal and provincial environmental assessment approvals and construction permits are in hand (refer to Reserves/Resource table for grade/grams per ton).

Seabridge’s guiding principle since inception has been to grow ounces of gold reserves and resources faster than shares outstanding. Over the past 20 years, our ounce count has increased almost five-fold compared to our share count.

Seabridge provides significantly more gold ownership per share than the leading gold companies AND more copper ownership per share than the leading copper producers (Refer to Corporate Presentation slides).