Seabridge Gold Inc.

Seabridge Gold Inc. is designed to provide its shareholders with exceptional leverage to a rising gold price. From 1999 through 2002, when the gold price was lower, Seabridge acquired nine North American projects with substantial gold resources, including Courageous Lake and KSM. Subsequent exploration by Seabridge has significantly expanded its acquired gold resource base.

Seabridge considers each of its common shares to represent an indirect ownership interest in its reserves and resources. Our aim is to increase the value of this ownership interest by growing reserves and resources faster than shares outstanding. Project acquisitions, exploration and engineering programs are carefully designed and monitored to ensure that equity dilution required to fund these activities is more than offset by additional reserves and resources.

Seabridge is pursuing three value-enhancing strategies. First, the Company continues to search for gold projects in North America which would be accretive in terms of gold resources. Second, Seabridge funds exploration and engineering work considered likely to expand resources and upgrade them to reserves. Third, Seabridge sells or partners its projects when they reach the production stage, to limit risk and share dilution.

Expert Comments:

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Joe Reagor, ROTH Capital Partners

"We believe a rising gold and silver market should benefit Seabridge Gold Inc. and could help the company attract a joint venture partner. . .additionally, we believe Seabridge could take advantage of rising precious metals prices and divest of noncore assets."

The transaction enhances the company's existing nearby project, where maiden drilling recently started.
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The purpose of the work is to build a high-grade resource there.
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The Canadian company is testing for the presence of Getchell-style, high-grade gold there.
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Joe Reagor, ROTH Capital Partners

"Our most significant takeaway from Seabridge Gold Inc.'s KSM tour was that as the resource base has grown, the project has gained optionality as to the timing and method of development. . .this optionality could be the driving force behind the company bringing in a joint venture partner in the coming quarters."

Dalton Baretto, Canaccord Genuity

"Our site visit to Seabridge Gold Inc.'s KSM project was productive; in addition to being impressed with the sheer scale of the deposits, we left with a good sense of the optimization efforts underway and directional answers to all of our questions. We expect more definitive and numeric answers when the company releases an updated mine plan later this year or early next year."

The goal now is to understand the entire project and its potential.
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Derek Macpherson, Red Cloud Klondike Strike Inc.

"Seabridge Gold Inc. has announced a comprehensive plan to test the district scale potential of its KSM property, providing several positive catalysts for the near term. We believe that a significant discovery nearby could be additive to the company's inventory at KSM as it seeks a potential joint venture partner to develop the project."

Mike Kozak, Cantor Fitzgerald

"Seabridge Gold Inc. will now shift its focus to two new exploration targets found on the margins of the existing Mitchell and Iron Cap deposits. The company will continue to improve on its understanding of the entire KSM project and surrounding opportunities; its efforts will ensure that it will be well-positioned to realize the project's full potential once a larger-tier company is ready to partner up."

Company is in the final stages of determining drill targets.
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The document serves as the foundation for a continuing partnership.
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Derek Macpherson, Red Cloud Klondike Strike Inc.

"Seabridge Gold Inc. has announced that it has reached an agreement with the Tahltan Nation on the terms of an impact benefit agreement in connection with Seabridge's KSM project. . .we view this as an important milestone in derisking the KSM project by securing its social license to operate in the region."

The transaction will enhance this company's nearby existing project.
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More Expert Comments

Experts Following This Company

Dalton Baretto – Canaccord Genuity
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Gary Baschuk – Raymond James
Mike Kozak, Analyst – Cantor Fitzgerald
headshot of Chen Lin
Chen Lin What Is Chen Buying? What Is Chen Selling?
headshot of Derek Macpherson
Derek Macpherson, VP Mining Analysis – Red Cloud Klondike Strike Inc.
Jim Marrone, Analyst – SingularResearch
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners

The information provided above is from analysts, newsletters, the company and other contributors.

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