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Court conditions Seabridge Gold (NYSE: SA) KSM status on new 90-day review

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Seabridge Gold reports a mixed court outcome on its KSM project in British Columbia. The Supreme Court of British Columbia found that the provincial Environmental Assessment Office’s determination that KSM was “substantially started” as of July 24, 2024 was reasonable. However, the Court ruled that the Tsetsaut Skii km Lax Ha must be given 90 days to provide written submissions, after which the EAO must reconsider its determination. A separate petition by SkeenaWild Conservation Trust was dismissed. Management states that work at KSM will continue during the consultation and reconsideration. Since applying for substantially started status in January 2024, Seabridge has spent an additional $208 million on permanent works at KSM, bringing total project expenditures to about $1.2 billion.

Positive

  • Court upholds reasonableness of KSM status: The Supreme Court of British Columbia found the Environmental Assessment Office’s substantially started determination for KSM to be reasonable, and dismissed a separate petition by SkeenaWild Conservation Trust.

Negative

  • Mandatory reconsideration after new consultation: The Court ordered a 90-day consultation period with the Tsetsaut Skii km Lax Ha and requires the Environmental Assessment Office to reconsider the substantially started determination afterward, creating regulatory outcome risk for KSM.

Insights

Court backs KSM status as reasonable but forces new review after added consultation.

The decision confirms that the KSM project’s “substantially started” status was reasonably determined by the Environmental Assessment Office, which helps preserve continuity for Seabridge Gold’s flagship asset. The dismissal of the SkeenaWild petition removes one legal challenge entirely.

At the same time, the Court requires a 90-day consultation window for the Tsetsaut Skii km Lax Ha and a subsequent reconsideration of the determination. That introduces outcome uncertainty, because the EAO must revisit its decision after reviewing new submissions.

Seabridge highlights that work at KSM continues and that permanent physical improvements have been “significantly enhanced,” with total expenditures rising to about $1.2 billion. Subsequent EAO reconsideration, after the 90-day submission period, will be an important milestone for the project’s regulatory path.

Consultation period 90 days Time granted to Tsetsaut Skii km Lax Ha to submit views on KSM
Additional KSM expenditures $208 million Spent on permanent works since substantially started application in January 2024
Total KSM expenditures $1.2 billion Cumulative spending on KSM project after recent investments
Substantially started date July 24, 2024 Date as of which KSM was determined substantially started
Application timing January 2024 Month Seabridge applied for substantially started status for KSM
substantially started regulatory
"the determination by the BC Environmental Assessment Office ("EAO") that Seabridge Gold's KSM project ... was substantially started as of July 24, 2024"
Environmental Assessment Office regulatory
"the determination by the BC Environmental Assessment Office ("EAO") that Seabridge Gold's KSM project ... was substantially started"
An environmental assessment office is a government or regulatory unit that reviews proposed projects to judge their likely effects on air, water, land and wildlife, and decides whether extra studies, changes or approvals are needed. For investors, its decisions act like a permit or safety check for a project — they can change timelines, add costs, or create legal conditions that affect whether a development or operation can proceed and how profitable it may be.
consultation regulatory
"the EAO had not engaged in sufficient consultation with one of the petitioners, the Tsetsaut Skii km Lax Ha"
permanent works financial
"Seabridge has incurred an additional $208 million of expenditures on permanent works at KSM"
foreign private issuer regulatory
"FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16"
A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number 1-32135

SEABRIDGE GOLD INC.
(Name of Registrant)

106 Front Street East, Suite 400, Toronto, Ontario, Canada M5A 1E1
(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [   ]          Form 40-F [X]

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  Seabridge Gold Inc.
  (Registrant)
     
  By:  /s/ Gregory Martin
  Name: Gregory Martin
  Title: Chief Financial Officer
     
     
Date: June 8, 2026    

EXHIBITS

Exhibit Description
  
99.1   News Release dated June 8, 2026

News Release

Trading Symbols: TSX: SEA For Immediate Release
  NYSE: SA June 8, 2026

BC Supreme Court Decides Seabridge Gold's KSM

Substantially Started Determination Reasonable

Court Requires BC to Consult Further

with TSKLH before Reconsidering Determination

Toronto, Canada - Seabridge Gold Inc. ("Seabridge") (TSX:SEA) (NYSE:SA) reports today that the Supreme Court of British Columbia ("the Court") issued its decision on two petitions challenging the determination by the BC Environmental Assessment Office ("EAO") that Seabridge Gold's KSM project located in northwestern British Columbia was substantially started as of July 24, 2024. The Court found that the determination was reasonable but that the EAO had not engaged in sufficient consultation with one of the petitioners, the Tsetsaut Skii km Lax Ha ("TSKLH"). The Court has ruled that the EAO must provide a specific period of 90 days for TSKLH to provide written submissions on whether the project was substantially started, after which the EAO must reconsider the substantial started determination. The Court also dismissed a second petition that was filed by SkeenaWild Conservation Trust against the Substantially Started determination. The decision can be found in its entirety here.

Seabridge Chair and CEO Rudi Fronk noted that work at KSM would continue during the consultation process and EAO reconsideration of the Substantially Started determination. "We are satisfied that the Court has confirmed the reasonableness of the EAO determination. We will continue to execute our work plans for KSM and look forward to meeting with the EAO to receive an update on their additional consultation activities in due course. Meanwhile, the permanent physical improvements we have made at KSM which were considered appropriate for the determination have been significantly enhanced. We remain appreciative of the continued support of the Nisga'a and Tahltan Nations, and the Gitxsan Hereditary Chiefs Office, for KSM."

Since its application for Substantially Started Status in January, 2024, Seabridge has incurred an additional $208 million of expenditures on permanent works at KSM, bringing total expenditures at KSM to $1.2 billion

About Seabridge Gold

Seabridge Gold holds a 100% interest in several North American gold projects. Its principal assets are the KSM and Bronson Corridor projects in British Columbia's Golden Triangle. Additional projects include Snowstorm in Nevada's Getchell Gold Belt, and the 3 Aces project in the Yukon. Further information on Seabridge's mineral reserves and resources is available at www.seabridgegold.com.

Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.

ON BEHALF OF THE BOARD

"Rudi Fronk"

Chair & C.E.O.

For further information please contact:

Rudi P. Fronk, Chair and C.E.O.

Tel: (416) 367-9292  •  Fax: (416) 367-2711 / Email: 

info@seabridgegold.com

 

106 Front Street East, Suite 400, Toronto, ON M5A 1E1, Canada

416-367-9292   www.seabridgegold.com 

 

Source: View Original Filing on SEC EDGAR

FAQ

What did the BC Supreme Court decide about Seabridge Gold’s KSM project?

The Court held the Environmental Assessment Office’s decision that KSM was “substantially started” was reasonable, but ordered a new 90-day consultation period with the Tsetsaut Skii km Lax Ha before the EAO reconsiders that determination.

How does the ruling affect ongoing work at Seabridge Gold’s KSM project (SA)?

Seabridge states work at KSM will continue during the Court-ordered 90-day consultation and subsequent Environmental Assessment Office reconsideration, emphasizing that permanent physical improvements at the site have been significantly enhanced while regulatory review continues.

What happened to the SkeenaWild Conservation Trust petition against KSM?

The Supreme Court of British Columbia dismissed the petition filed by SkeenaWild Conservation Trust challenging the substantially started determination for KSM, leaving only the consultation-related issues raised by the Tsetsaut Skii km Lax Ha for further regulatory consideration.

How much has Seabridge Gold spent on the KSM project so far?

Since applying for substantially started status in January 2024, Seabridge incurred an additional $208 million on permanent works at KSM, bringing total project expenditures to approximately $1.2 billion, reflecting significant capital already invested in the large gold-copper project.

What consultation did the Court require regarding Seabridge Gold’s KSM project?

The Court ruled the Environmental Assessment Office must provide a 90-day period for the Tsetsaut Skii km Lax Ha to submit written views on whether KSM was substantially started, after which the EAO must reconsider its determination in light of those additional submissions.

Filing Exhibits & Attachments

1 document

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