KSM Project - Application for Substantially Started Status

Seabridge Gold (TSX: SEA) (NYSE: SA) has announced that its wholly owned subsidiary, KSM Mining ULC ("KSM Co"), has applied to the British Columbia Environment Assessment Office ("BC EAO") for Substantially Started Status for its 100% owned KSM Project.

Under the B.C. Environmental Assessment Act, a project's environmental assessment certificate ("EAC") expires if the project has not been substantially started by the deadline specified in its EAC. However, the B.C. Minister of Environment and Climate Change Strategy or Associate Deputy Minster (the "Minister") may determine that a project has been 'substantially started' before the deadline, in which case the EAC remains in effect for the life of the project. KSM's current EAC deadline is July 29, 2026. In determining whether a project has been substantially started, the Minister assesses on a project-specific basis whether sufficient permanent on-site physical improvements have been completed to warrant the designation.