Seabridge Gold updates KSM project mineral resource estimates

Seabridge Gold Inc. (NYSE: SA) announced updated mineral resource estimates for its KSM Project in northwestern British Columbia using revised metal price assumptions. The company applied metal prices of $2,000 per ounce for gold, $4.00 per pound for copper, $25 per ounce for silver, and $22 per pound for molybdenum at a currency exchange rate of 0.746 US dollars per Canadian dollar.

The updated estimates show measured and indicated mineral resources increased by 6.8 million ounces of gold, 1.5 billion pounds of copper, 42.7 million ounces of silver and 93 million pounds of molybdenum compared to the January 2024 resource update. Inferred mineral resources increased by 12.9 million ounces of gold, 4.2 billion pounds of copper, 108.8 million ounces of silver and 140 million pounds of molybdenum.

The mineral resource model remains unchanged, with only the metal price assumptions and costs used to constrain the resources and calculate cut-offs being updated. The previous resource disclosure used metal prices of $1,300 per ounce for gold, $3.00 per pound for copper, $20 per ounce for silver, and $9.70 per pound for molybdenum at an exchange rate of 0.83 US dollars per Canadian dollar.

Total measured and indicated resources now stand at 95.5 million ounces of gold, 21.1 billion pounds of copper, 459.9 million ounces of silver and 837 million pounds of molybdenum across 6.3 million tonnes. Inferred resources total 84.4 million ounces of gold, 42.7 billion pounds of copper, 570 million ounces of silver and 606 million pounds of molybdenum across 8.5 million tonnes.

Chair and CEO Rudi Fronk said the resource restatements reflect gains from updated metal price parameters and operating costs. The estimates use the same grade models from the KSM Preliminary Feasibility Study and Preliminary Economic Assessment Technical Report dated August 8, 2022. Independent qualified person Henry Kim verified and endorsed the mineral resource estimates.

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