Toronto, Ontario--(Newsfile Corp. - September 25, 2024) - Seabridge Gold (TSX: SEA) (NYSE: SA) announced today that B.C. government renewed the License of Occupation ("LoO") for the Mitchell Treaty Tunnels ("MTT") at Seabridge's KSM Project until September 27, 2044.

The LoO provides Seabridge's wholly owned subsidiary, KSM Mining ULC ("KSMCo"), with the right to occupy the area in which it intends to construct the MTT. The MTT are the two 23 km long parallel tunnels planned to connect the east and west sides of the KSM Project Mine Site. Approximately 12.5 km of the MTT route passes through 11 mineral claims owned by a joint venture consisting of Tudor Gold Corp. ("Tudor"), Teuton Resources Corp. and American Creek Resources Ltd. (the "Treaty Project Claim Holders") of which Tudor is the operator. The original LoO was scheduled to expire on September 27, 2024.

This new LoO replaces the original LoO for the MTT granted in 2014. The wording in the original LoO which provided that KSMCo's rights under the LoO were "subject to the prior rights" of the holder of the 11 mineral claims owned by the Treaty Project Claim Holders has been removed from the newly issued LoO because it served no purpose. The LoO grants KSMCo no interest in the minerals within the LoO. The "prior rights" of the Treaty Project Claim Holders to the area of the LoO that traverses the 11 mineral claims of the Treaty Project Claim Holders are subject to a conditional mineral reserve (the "Mineral Reserve") established in 2012. see & read more on
https://www.newsfilecorp.com/release/224458/