Seabridge Gold Files Second Quarter Report to Shareholders and its Financial Statements and MD&A Toronto, Canada…
106 Front Street East, Suite 400, Toronto, OntarioM5A 1E1, Canada
Telephone: (416) 367
-
9292 www.seabridgegold.net
News Release
Trading Symbols: TSX: SEA
FOR
I
MMEDIATE
R
ELEASE
NYSE: SA
August 10, 2020
Seabridge Gold Files Second Quarter Report to Shareholders and its
Financial Statements and MD&A
Toronto, Canada…
Seabridge Gold (TSX:SEA) (NYSE:SA) reported today that it has filed its Report to
Shareholders, Interim Financial Statements and Management’s Discussion and Analysis for the three and
six months ended June 30, 2020 on SEDAR (
www.sedar.com
). To view the Report on the Company’s
website, please see:
http://seabridgegold.net/sharefinrep.php
.
Recent Highlights
Filed new NI
-
43
-
101 Technical Report confirming dramatic improvement in KSM’s economic potential
Completed the acquisition of the 3 Aces exploration project in Yukon, Canada
Initiated geotechnical drill program along KSM’s tunnel route;
drilling now in progress
I
nitiated an exploration
program at our Iskut gold
-
copper porphyry target; drilling now in progress
Began mobilizing for 3rd Quarter Snowstorm drill campaign; drilling to begin in late August
Closed $37.1 million in equity financ
ings during the 2nd Quarter
During the three
-
month period ended June 30, 2020
,
Seabridge posted a net loss of $4.1 million ($0.
06
per share) compared to a loss of $2.0 million ($0.03 per share) for the same period in 2019. During the
2nd quarter, Seabridge invested $4.4 million in mineral interests project spending compared to $4.3
million in the second quarter of 2019. At June 30,
2020, net working capital was $40.3 million compared
to $12.5 million at December 31, 2019.
Seabridge Gold holds a 100% interest in several North American gold resource projects. The Company's
principal assets are the KSM and Iskut properties located nea
r Stewart, British Columbia, Canada and the
Courageous Lake gold project located in Canada's Northwest Territories. For a breakdown of Seabridge's
mineral reserves and resources by project and category please visit the Company's website at
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
resource estimates reported by the Corporation were calculated in accordance 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 which are not mineral reserves do not have
demonstrated economic viability.
ON BEHALF OF THE BOARD
Chairman & C.E.O.
Rudi P. Fronk
106 Front Street East, Suite 400, Toronto, OntarioM5A 1E1, Canada
Telephone: (416) 367
-
9292 www.seabridgegold.net
For further information please
contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367
-
9292
Fax: (416) 367
-
2711
Email: