Seabridge Gold posted net income of $117.5 million, or $1.08 per share, for the three months ended June 30, 2026, marking an increase from a net profit of $12.3 million, or $0.12 per share, for the same period in 2025.

The stronger quarterly bottom line was driven largely by gains realized on the corporate spin-out of the Courageous Lake project to shareholders, which was completed during the second quarter of 2026.

Alongside the portfolio restructuring, Seabridge invested $32.5 million in mineral interests, property and equipment during the quarter, outpacing the $21.1 million invested in the second quarter of 2025. Net working capital stood at $53.6 million as of June 30, 2026, compared to $109.8 million at December 31, 2025.

To support ongoing summer field programs at the KSM project, Seabridge arranged an unsecured, short-term loan agreement in July 2026 with a strategic investor for up to US$100 million. The facility is drawable at the company's election in minimum calls of US$10 million, carries an interest rate of 7% compounded monthly, and matures on December 31, 2026. The loan is repayable in cash or, under specific conditions and subject to Toronto Stock Exchange approval, in common shares at maturity. The company intends to draw on the loan if required to strengthen its consolidated liquidity position, with no amounts currently drawn.

Field work at KSM continues to advance on schedule to support a feasibility study, while engagement with a preferred candidate for an earn-in joint venture at the project also continues. Development activities are also navigating a British Columbia Supreme Court ruling that requires a reconsideration of the project's Substantially Started Designation.

Seabridge holds a 100% interest in several North American gold projects, including the Bronson Corridor in British Columbia's Golden Triangle, the Snowstorm project in Nevada's Getchell Gold Belt, and the 3 Aces project in the Yukon. During the period, the company published its 2025 Sustainability Report and was awarded the Smithers Resource and Mining Excellence Award.

Financial reporting for the quarter arrives amid broader strength in precious metals. Over the 30-day period ended August 13, 2026, gold traded at a price of US$4,355.80 per ounce, representing a 7.57% increase.

Read the full announcement: Seabridge Gold Files Second Quarter 2026 Report to Shareholders and Its Financial Statements and MD&A