Seabridge Gold Inc. (TSX: SEA) has executed an agreement for an unsecured, short-term loan facility of up to US$100 million with a strategic investor. The facility is designed to bolster the company’s liquidity position as it progresses through its active summer field season. While the credit line is available for use, no funds have been drawn from the facility as of the announcement date.

The financing structure allows the developer to access the capital in minimum draws of US$10 million. The loan carries an interest rate of 7%, which is compounded monthly and capitalized, with a maturity date set for December 31, 2026. At the end of the term, the company retains the option to repay the loan in cash or, subject to regulatory approval from the Toronto Stock Exchange, in common shares.

The primary objective of this capital is to fund ongoing development work at the KSM project located in British Columbia. The company intends to utilize the proceeds to advance essential site preparation and data collection efforts that form a critical part of its current development strategy for the asset.

"We are pleased to secure financing to support the significant investments we are making in our summer season work programs at our 100% owned KSM Project. Our 2026 work programs at KSM include building of roads to provide improved access to future infrastructure areas and the collection of geotechnical, metallurgical and environmental data from drilling, test pitting and sampling required to support KSM's feasibility level design and engineering activities."

— Rudi Fronk, Chair and CEO

The current work program is centered on technical and logistical milestones necessary for project advancement. Specifically, the field teams are focused on road construction to enhance physical access to planned infrastructure zones. Simultaneously, crews are conducting extensive geotechnical, metallurgical, and environmental drilling and sampling. This field data is intended to provide the technical foundation required to support the project's ongoing feasibility-level engineering and design efforts.

By securing this flexible, short-term financing, the company ensures that its 2026 summer programs can proceed as scheduled without liquidity constraints. The ability to draw capital as required provides a buffer for the high-cost, seasonal work programs characteristic of remote project development. The loan agreement includes standard covenants, representations, and warranties common for a facility of this nature. As the summer progresses, these initiatives will continue to move the project closer to meeting the data requirements for its next phase of engineering design. The company remains focused on executing these seasonal field targets to keep the project development timeline on track for the remainder of the year.

Read the full announcement: Seabridge Gold Arranges US$100M Credit Facility to Support Ongoing Activities at KSM