Seabridge Gold Files First Quarter Financial Statements and MD&A

Rhea-AI Summary

Seabridge Gold (NYSE: SA) reported strong Q1 2025 financial results, posting net earnings of $10.6 million ($0.11 per share), compared to a net loss of $8.2 million in Q1 2024. The company secured US$100 million in new financing, including US$20 million from a strategic investor. Working capital significantly improved to $148.7 million, up from $37.8 million in December 2024.

The company invested $14.3 million in mineral interests during Q1 2025, down from $39.3 million in Q1 2024. Seabridge's portfolio includes 100% interests in several North American gold projects, including KSM and Iskut in British Columbia's Golden Triangle, Courageous Lake in Northwest Territories, Snowstorm in Nevada, and 3 Aces in Yukon Territory. The company noted that gold prices reached an all-time high of US$3,500 per ounce.

Positive

• Net earnings of $10.6 million in Q1 2025, compared to $8.2 million loss in Q1 2024
• Secured US$100 million in new financing, including US$20 million from strategic investor
• Working capital increased significantly to $148.7 million from $37.8 million
• Gold price reaching all-time high of US$3,500 per ounce benefits company's gold assets
• Fully funded exploration programs for multiple projects

Negative

• Reduced investment in mineral interests ($14.3M vs $39.3M in Q1 2024)
• Legal challenges to KSM's substantially started designation requiring government response

Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - Seabridge Gold (TSX: SEA) (NYSE: SA) announced today that it has filed its Interim Financial Statements and Management's Discussion and Analysis for the three-month period ended March 31, 2025 on SEDAR+ (https://www.sedarplus.ca). These statements are also available on Seabridge's website at https://www.seabridgegold.com/investors/financial-reports.

Seabridge's Q1 2025 Report to Shareholders can be found here.

Recent Highlights

• Secures US$100 million in new financings including US$20 million from a strategic investor
• 2025 field programs underway at KSM
• Issues 2024 report card and 2025 corporate objectives
• BC Government files responses to petitions challenging KSM's substantially started designation
• Fully funded exploration programs planned at Iskut and 3 Aces
• Gold price hits all-time high at US$3,500 per ounce

Financial Results

During the first quarter of 2025, Seabridge posted net earnings of $10.6 million ($0.11 per share) compared to a net loss of $8.2 million ($0.09 per share) for the same period in 2024. During the first quarter of 2025, Seabridge invested $14.3 million in mineral interests, property and equipment compared to $39.3 million invested in the first quarter of 2024. The working capital position increased by $110.9 million, from $37.8 million on December 31, 2024 to $148.7 million on March 31, 2025.

Seabridge holds a 100% interest in several North American gold projects. Seabridge's assets include the KSM and Iskut projects located in northwest British Columbia, Canada's "Golden Triangle", the Courageous Lake project located in Canada's Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project set in the Yukon Territory. For a full breakdown of Seabridge's mineral reserves and mineral resources by category please visit Seabridge's website at http://www.seabridgegold.com.

None of the Toronto Stock Exchange, New York Stock Exchange, or their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.

ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and C.E.O.

For further information please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: info@seabridgegold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252040

FAQ

What were Seabridge Gold's (NYSE: SA) earnings for Q1 2025?

Seabridge Gold reported net earnings of $10.6 million ($0.11 per share) in Q1 2025, compared to a net loss of $8.2 million ($0.09 per share) in Q1 2024.

How much new financing did Seabridge Gold secure in Q1 2025?

Seabridge Gold secured US$100 million in new financing, including US$20 million from a strategic investor.

What is Seabridge Gold's current working capital position?

Seabridge Gold's working capital position increased to $148.7 million as of March 31, 2025, up from $37.8 million on December 31, 2024.

What major gold projects does Seabridge Gold (SA) own?

Seabridge Gold owns 100% interest in KSM and Iskut projects in British Columbia's Golden Triangle, Courageous Lake in Northwest Territories, Snowstorm in Nevada, and 3 Aces in Yukon Territory.

How much did Seabridge Gold invest in mineral interests during Q1 2025?

Seabridge Gold invested $14.3 million in mineral interests, property and equipment during Q1 2025, compared to $39.3 million in Q1 2024.