Agreement Entered On The Coulter Creek Access

TORONTO - Seabridge Gold and Eskay Mining Corp. has entered into an agreement whereby Seabridge and Eskay Mining will share the costs equally on construction of the first 9 kilometers (First Segment of the CCAR) of the Coulter Creek Access Road (CCAR).

As background, the CCAR is one of two main access roads planned and permitted for Seabridge's 100% owned KSM project situated within the Golden Triangle in British Columbia, Canada. The road is designed to connect the KSM project with the existing Eskay mine road to the northwest. Approximately 2.92 kilometers of the First Segment of the CCAR is situated on mineral tenures held by Eskay Mining.

Seabridge Gold Chairman and CEO, Rudi Fronk, said, “We are delighted to be working with Eskay Mining on the First Segment of the CCAR. This initial segment will provide Seabridge with a lower elevation staging site closer to the KSM camp, thereby reducing Seabridge's helicopter costs and improving both safety and certainty of access to KSM, while at the same time providing cost-saving logistical benefits for Eskay Mining's planned exploration activities. More important for Seabridge, constructing this segment now will shorten the time needed to establish early site access to the KSM deposits, enabling more rapid development of the project once we have consummated our anticipated joint venture. Cooperation between neighboring companies will help facilitate the emergence of B.C.'s Golden Triangle as one of Canada's most important new mining camps."

Eskay Mining's President and CEO, Mac Balkam, said “The construction of the First Segment of the CCAR will provide cost-saving logistical benefits for Eskay Mining's planned exploration activities. Once the First Segment of the CCAR is complete, we will have use of the First Segment of the CCAR for a minimum of 15 years pursuant to a Road Access Agreement subject to payment of our pro rata share of maintenance costs. This will provide Eskay Mining with a tremendous benefit as it continues exploration on its 100% owned Consolidated Eskay precious metal-rich volcanogenic massive sulphide ("VMS") project in the Golden Triangle, British Columbia. This summer, Eskay Mining plans to drill at least 30,000 m of diamond core at multiple targets across its 526 sq km of land holdings commencing with focussed drilling at its Jeff and TV targets to follow up on encouraging gold-silver mineralization, some high-grade, encountered by 18 of 20 holes completed in 2020. This is the most aggressive drill campaign yet conducted by Eskay Mining."