The Snowstorm Project is a district scale exploration play with multiple exploration targets on trend and contiguous with producing mines in Northern Nevada.  The two best target concepts are (i) a Getchell-Turquoise Ridge or Twin Creek analog on the west side of the property and (ii) a Midas analog on the east side of the property. Structural intersections and rock assemblages similar to these deposits have been identified and were the reason for assembling the Snowstorm land package.  Host rocks for the target deposit types at Snowstorm are covered by younger rocks; however, part of the Midas stratigraphic section has been identified on the property, while drilling and geophysical results confirm that both the structural and stratigraphic setting of Getchell-Turquoise Ridge and Twin Creeks deposits are present on the property.

Seabridge has concentrated exploration efforts on the west side of the Snowstorm property.  Work programs have been following evidence of a Turquoise Ridge/Twin Creeks type of high-grade gold system along the projected continuation of the Getchell Trend on which these successful deposits are found. Twin Creeks and Turquoise Ridge are respectively located about 6 and 15 kilometers southwest of Snowstorm with Twin Creeks reporting remaining reserves of 3.2 million ounces grading 1.9 g/T gold and Turquoise Ridge of 9.1 million ounces grading 13.0 g/T gold.

Historical geophysical information in conjunction with newly collected Magnetotelluric (MT) surveys and geological mapping are providing evidence of potential for a multi-million-ounce Getchell-style deposit at Snowstorm. Permissive Paleozoic host rock and structures conforming to the Getchell-style deposit model have been identified. Clay mineralogy and geochemical studies indicate that parts of the Paleozoic stratigraphy have been exposed to potentially gold-bearing hydrothermal fluids. Surface geological mapping along MT structures has identified extinct hot spring sinter deposits, and surface geochemistry is being used to characterize the trace element signatures along these faults. Seabridge’s multi-prong approach continues to refine and improve exploration targeting for multimillion-ounce blind gold systems.

The scientific and technical information in respect of the KSM Project herein was derived from the technical Report entitled KSM (Kerr – Sulphurets – Mitchell) Prefeasibility Study and Preliminary Economic Assessment dated effective August 8, 2022. This information was prepared by leading consulting firms and their Qualified Persons (as defined in NI 43-101), all of who are independent of Seabridge and are listed below along with their areas of responsibility:
(i) Tetra Tech, Inc. under the direction of Hassan Ghaffari P.Eng (surface infrastructure, capital estimate and financial analysis), John Huang P.Eng. (metallurgical testing review, permanent water treatment, mineral process design and operating cost estimation for process, general and administrative (“G&A”) and site services, and overall report preparation)
(ii) Wood Canada Limited, under the direction of Henry Kim P.Geo. (Mineral Resources)
(iii) Moose Mountain Technical Services under the direction of Jim Gray P.Eng. (open pit Mineral Reserves, open pit mining operations, mine capital and mine operating costs, MTT and rail ore conveyance design, tunnel capital costs)
(iv) N. Brazier Associates Inc. under the direction of W.N. Brazier P.Eng. (Electrical power supply, energy recovery plants)
(v) ERM Consultants Canada Ltd. under the direction of Rolf Schmitt P.Geo. (environment and permitting)
(vi) Klohn Crippen Berger Ltd. under the direction of David Willms P.Eng (design of surface water diversions, diversion tunnels, tailing management facility, water treatment dam and RSF and tunnel geotechnical)
(vii) BGC Engineering Inc. under the direction of Derek Kinakin P.Geo., P.L.Eng., P.G. (rock mechanics, geohazards and mining pit slopes)
(viii) WSP Golder Inc., under the direction of Ross Hammett P.Eng (Block Cave mining)