Toronto, Canada – Seabridge Gold announced today the results of an updated Preliminary Feasibility Study(the “2022 PFS”) for its 100% owned KSM project located in northern British Columbia, Canada. The 2022 PFS shows a considerably more sustainable and profitable mining operation than its 2016 predecessor, now consisting of an all open pit mine plan that includes the Mitchell, East Mitchell and Sulphurets deposits only.The primary reasons for the improvements in the plan arise from the acquisition of the East Mitchell open pit resource and an expansion to planned mill throughput. The many design improvements over the 2016 PFS include a smaller environmental footprint, reduced waste rock production, reduced green house gas emissions by electrification of the mine haul fleet, a 50% increase in mill throughput, and the elimination of capital-intensive block cave mining.
The 2022 PFS was prepared by Tetra Tech, Inc. (“Tetra Tech”), the firm that had also authored the 2016 PFS.The 2022 PFS results released herein propose mining only 25% of the KSM resource inventory and do not include material from the copper-rich Kerr and Iron Cap deposits. An analysis of a stand-alone development of these deposits will be included as a Preliminary Economic Assessment (“PEA”) forming a separate part of the NI 43-101 Technical Report to be filed within the next 45 days.