Seabridge Gold announced that drilling has been completed and assay results received from its limited 2022 drill program. The program commenced in mid-September after receiving a Class 4 Quartz Exploration Permit from the
Yukon Government Department of Energy, Mines, and Resources for its 100% owned 3 Aces project. As one of the permit conditions requires that drilling cease each year at the end of October, only four holes were drilled. The limited program was designed to begin testing our 3-dimensional model around the Hearts zone and determine which structural settings would enable us to begin establishing an initial resource. One drill hole was used to confirm that gold-bearing structures are hosted within secondary aniticlinal folds and thrust faults as predicted by our model. The assays from this hole were highly rewarding, as expected. The three additional holes were used to test for controls on down dip extensions to the high grade. These holes determined that the gold-bearing structures are pronouced as they continue down plunge but only carry coherent high grades where they exhibit flexures that enhance permeability. Additionally, required upgrades were completed at the exploration camp, environmental monitoring programs were initiated, and ongoing rehabilitation and reclamation work was begun. These efforts were supported by First Nation contractors from Watson Lake and Ross River under difficult weather conditions and time constraints. This work has prepared the project for a much larger 2023 program. Hearts Main Zone: Two drill holes were completed at the Hearts Main Zone to evaluate the character and controls of gold hosted in this target. The initial hole, 3A22-355, pierced the Hearts Main Zone structure on the limb of a secondary anticline intersecting a broad zone of gold mineralization with a high-grade core. Results from that hole are consistent with previous intersections in the Hearts Main Zone, near the apex of a secondary fold. A second hole, 3A22-356, was drilled down dip of 355 to confirm the continuity of the structure. The structural corridor was found to continue down dip where it was expected but as multiple sheared intervals or splays. Additional drilling is required to evaluate the changing geometry and character of high-grade gold mineralization down dip. Preliminary CSAMT geophysical data suggests the gold-bearing structural corridor is folded down dip. We believe these flexures are likely to provide the fracturing required to accommodate and trap the gold-bearing fluids. The CSAMT survey will be expanded in 2023 to identify these variations in the structural corridor and improve targeting. Hearts West Zone: The Hearts West Zone is directly west of the Hearts Main Zone across a post-mineral normal fault. This separate structural block hosts a broad gold and arsenic in soil anomaly and extensive surface exposures. Surface mapping confirms the Hearts West Zone hosts the same geology and deformation events as the Hearts Main Zone. The Hearts West Zone is deformed by secondary anticlines and synclines with recognized thrust faults on the limbs of the folds.precisely the characteristics predicted to be productive by our model. Little previous drilling has been conducted on this zone. Two holes were drilled into this target zone and both intersected low-grade mineralization in host rocks similar to those at the Hearts Main Zone. The drill results are inconsistent with highly anomalous soil geochemistry which appear to identify grade-enhancing flexures. Additional drilling and surface work within this separate structural block is required to locate favourable structural intersections along strike.