Business
Seabridge Gold Plans to Spin-Out 11.0 Million Ounce Courageous Lake Gold Project
"Newco" to Unlock Value of Advanced-Stage, High Grade Gold Project to Seabridge ShareholdersToronto, Ontario--(Newsfile Corp. - December 16, 2025...
About this update from Seabridge Gold Inc
[{"type":"text","content":""Newco" to Unlock Value of Advanced-Stage, High Grade Gold Project to Seabridge Shareholders","length":102,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - December 16, 2025) - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) ("Seabridge" or the "Company") announces today its intention to spin-out its wholly owned subsidiary, Seabridge Gold (NWT) Inc. (to be renamed "Valor Gold") which owns 100% of the Courageous Lake Gold Project ("Courageous Lake" or the "Project"), located in Canada's Northwest Territories. Following the spin-out, Valor Gold will be focused on advancing the Project through exploration, engineering and permitting. It is contemplated that Valor Gold shares would be distributed to Seabridge shareholders and listed on, at least, one major public stock exchange. Seabridge would continue focusing primarily on its KSM gold/copper project and its other exploration assets.","length":823,"tagName":"p"},{"type":"text","content":"Courageous Lake is one of Canada's largest undeveloped gold projects with total contained gold inventory, comprising Measured and Indicated Resources, of 11.0 million oz of gold (145.2 million tonnes at an average grade of 2.36 grams per tonne), plus an additional 3.3 million ounces of gold in the inferred category (40.6 million tonnes at 2.52 grams per tonne). The reported measured and indicated resources incorporate 2.8 million ounces of proven and probable reserves (33.9 million tonnes at 2.6 grams per tonne) which would make it one of the highest-grade open pit gold projects in Canada.","length":600,"tagName":"p"},{"type":"text","content":"Rudi Fronk, Seabridge's Chair and CEO stated: "We have always believed, as we have shown in our recent studies, that Courageous Lake is a valuable project with enormous additional district potential in a Tier 1 jurisdiction. We also believe that Courageous Lake is being attributed little to no value in the price of Seabridge shares today."","length":355,"tagName":"p"},{"type":"text","content":"Fronk continued: "A spin-out of Courageous Lake should give our shareholders more optionality around a gold asset that has been overshadowed for too long by KSM, which remains our primary development focus. We b...