Seabridge Gold 2024 Drill Program to Pursue Confirmed Exploration Model at 3 Aces Project
106 Front Street East, Suite 400, Toronto, ON M5A 1E1, Canada
416-367-9292 www.seabridgegold. com
NEWS RELEASE
Trading Symbols: TSX: SEA FOR IMMEDIATE RELEASE
NYSE: SA May 1, 2024
Seabridge Gold 2024 Drill Program to Pursue
Confirmed Exploration Model at 3 Aces Project
Drilling aims to move towards resource estimation
Toronto, Canada... Seabridge Gold (TSX:SEA, NYSE:SA) today announced that preparations are
well underway at the wholly-owned 3 Aces proj ect in Canada’s Yukon to expand upon the
comprehensive exploration model confirmed from last season’s drill program . This year’s
program is a multi -pronged effort to apply the exploration model to new targets within the
Central Core, evaluate the size and potential of existing zones, and assess the exploration
model at regional targets across the larger 3 Aces property.
The fully funded program plans to complete additional geophysical surveys and about 8,000
meters of core and reverse circulation drilling in the Central Core Area and outlaying targets on
the 357 km2 3 Aces property at a budgeted cost of $6.0M.
Commenting on this year’s program, Rudi Fronk, Seabridge Chairman and CEO, noted “ our
team has confirmed several key parameters that are critical to localizing gold concentrations in
the Central Core Area. Findings from last season’s program give us confidence in our ability to
expand mineralized zones utilizing our robust exploration model . We are excited to apply this
understanding across more of the 3 Aces land package. We view this year’s work as pivotal for
moving the project towards resource delineation.”
The 3 Aces exploration model predicts continuity of mineralization, including high-grade gold,
localized along the limbs of second -order folds (F 2). Mineralized zones are best expressed at
the contacts between thick phyllite sequences and coarse interbedded sandstones and
conglomerates. Shearing along fold limbs at th ese rheologic contact s result in brittle
fracturing and Au bearing quartz veining preferentially hosted in coarser clastic units.
Evidence indicates that this structural architecture is regional in nature and multiple F 2
synforms and antiforms have been identified across the property. Substantiating the presence
of these controls on gold mineralization outside of the Central Core Area would provide
Seabridge with confirmation of a district scale project.
Additional exploration efforts planned for this season will evaluate the limit of several targets
within the Central Core Area. This work is intended to deliver indications of size potential on
several known high-grade zones and provide additional refinements on the controls for gold.
Last year ’s exploration work also revealed the potential for additional target concepts not
previously recognized. S urface mapping and geophysical surveys are planned to assist in
refining these early-stage concepts.
Seabridge will also resume its previously initiated reclamation activities at the site,
concentrating on exploration roads. Environmental monitoring activities focusing on wildlife
management, water sampling and understanding environmental baseline conditions will
continue in support of exploration activities.
3 Aces was acquired by Seabridge in March
2020 consisting of 1,734 claims covering 357
km² (35,700 ha) located in a readily accessible
part of southeastern Yukon . Historical work
identified a broad area of gold -in-soil
extending more than 20 kilometers and past
drilling encountered extensive gold. We
believe t he characteristics of the 3 Aces
project are indicative of a district scale,
orogenic gold project consistent with other
deposits in the vicinity and around the world.
Exploration activities on the 3 Aces project are
being conducted under the supervision of
William E. Threlkeld, Registered Professional
Geologist, Senior Vice President of the
Company and a Qualified Person as defined
by National Instrument 43 -101. Mr. Threlkeld
has reviewed and approved this news release.
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 the Company's website at http://www.seabridgegold.com.
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes certain forward -looking statements or forward -looking information. This information and these
statements, referred to herein as "forward-looking statements" are made as of the date of this news release. All statements other
than statements of historical fact included in this release, including, without limitation, statements regarding: (i) the Com pany
completing additional geophysical surveys and about 8,000 meters of core and reverse circulation drilling in the Central Core
Area and outlaying targets in 2024; (ii) the exploration program costing $6.0M; (iii) the Company’s ability to expand mineral ized
zones utilizing its exploration model; (iv) the exploration model predicting continuity of mineralization, including high-grade gold,
localized along the limbs of second -order folds (F2) ; and (v) the Company’s belief the characteristics of the 3 Aces Project are
indicative of a district scale, orogenic gold project consistent with other deposits in the vicinity and around the world, are forward-
looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company’s plans or expectations include regulatory and
program execution issues, the geology at the Project not conforming to the Company’s model of it, general economic, market or
business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time i n
the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or
revise any forward -looking statements whether as a result of new information, future events or otherwise except as otherwise
required by applicable securities legislation. We caution readers not to place undue reliance on these forward -looking
statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans,
objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements.
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: [email protected]