On January 24, 2025, Seabridge Gold Inc. launched a US$100 million (C$143.71 million) at-the-market (ATM) offering of common shares under a Controlled Equity OfferingSM Sales Agreement with Cantor Fitzgerald & Co., RBC Capital Markets, LLC, Cantor Fitzgerald Canada Corporation, and RBC Dominion Securities Inc. Shares will be sold on the NYSE at market prices, with a 2% commission paid to the agents.

Proceeds will fund exploration, early construction at the KSM Project, and general corporate purposes. The offering is under the Multi-Jurisdictional Disclosure System (MJDS) between Canada and the U.S. and follows National Instrument 44-102 – Shelf Distributions.

Legal counsel includes DuMoulin Black LLP and Thorsteinssons LLP (Canada) and Carter Ledyard & Milburn LLP (U.S.), with Bennett Jones LLP and Cooley LLP advising the agents. Seabridge’s KSM Project in British Columbia is among the world’s largest undeveloped gold resources.