Seabridge Gold Reports on its COVID - 19 Response
Seabridge Gold Inc.
News Release
Trading Symbols:
TSX: SEA
F
OR
I
MMEDIATE
R
ELEASE
NYSE: SA
March
25
, 20
20
Seabridge Gold Reports on its COVID
-
19 Response
Toronto,
Can
ada
…
Seabridge Gold Inc.
(TSX:SEA)(NYSE:SA) reported today on its response to the
special challenges posed by COVID
-
19. The Company’s first priority is the safety and well
-
being of its
employees and contractors. As a result, Seabridge has taken steps to accentuate its operation as
a virtual
company by eliminating in
-
person meetings and business travel and encouraging work from home. We are
also exploring having our annual meeting
online
so that more shareholders can attend while in the safety of
their own homes.
Further
responses to COVID
-
19 are as follows:
Updated NI
-
43
-
101 KSM Technical Report
Our most important work product this year is the completion of an updated NI
-
43
-
101 Technical Report on
our 100%
-
owned KSM project located in British Columbia, Canada.
This work
should
be completed in the
next 30 to 45 days
despite the impact of COVID
-
19.
Th
e updated Report
is of great importance to us because
it embraces a redesign of KSM
that should enable us to capture the potential of the new higher
-
grade
additions we have made to the Iron Cap resource
.
The
redesign is expected to reduce the project’s f
ootprint
while enhancing estimated metal production
and improving
capital and operating costs
.
Planned 2020 Field Activities
This year’s
budget includes drill programs at our 100%
-
owned Iskut Project in British Columbia, Canada
and at our
100%
-
owned Snowstorm project in Nevada
, USA
. We are evaluating whether or not
it makes
sense to proceed with
these programs given the difficult operating requirements imposed by the virus and
the need to protect our work crews. We
expect to make decisions
on these programs in
May
once we know
more about the evolution of the virus
and the
impact of
public health measures being taken to address it
.
Delaying these programs by a year would not impact our obligations or our land holdings but
we remain
hopeful th
at we can proceed this year
since we think each of these
targets
is ripe for a new discovery.
Ongoing compliance with our existing permits and regulatory authorizations will continue as required.
Seabridge Gold holds a 100% interest in several North Amer
ican gold resource projects. The Company’s
principal assets are the KSM and Iskut properties located near Stewart, British Columbia, Canada and the
Courageous Lake gold project located in Canada’s Northwest Territories. For a breakdown of Seabridge’s
curre
nt
mineral reserves and resources by project and category please visit the Company’s website at
http://www.seabridgegold.net/resources.php.
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts
responsibility for the adequacy or accuracy of this release.
All reserve and resource estimates reported by the Corporation were calculated in ac
cordance with the Canadian National Instrument
43
-
101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the
requirements of the U.S. Securities and Exchange Commission. Mineral resources wh
ich are not mineral reserves do not have
demonstrated economic viability.
This news release includes certain forward
-
looking statements or information. All statements other than statements of historical fact
included in this release, including, without l
imitation, statements regarding: (i) the
estimated date of completion of the updated KSM
Technical Report
; (ii)
the potential for the new KSM Technical Report
to reduce the
KSM P
roject’s footprint while enhancing
estimated metal production,
and improving
capital and operating costs
, and (i
i
i) the
potential for the Company’s planned field
programs to go ahead this year and the timing of that decision
. There can be no assurance that such statements will prove to be accurate
and actual results a
nd 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 issues, discontinuity o
r otherwise
unexpe
cted geology at the Project, timeliness of government or regulatory approvals
, onerous working regulations for protection
against spread of the COVID
-
19 virus,
and other risks detailed herein and from time to time in the filings made by the Company with
s
ecurities 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.
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and CEO
For further information please contact:
Rudi Fronk, Chairman and CEO
Tel: (416) 367
-
9292
Fax: (416) 367
-
2711
Email: