Gold Co.'s Shareholders Approve Spin Out of Courageous Lake in Northwest Territories

• •Spinning it out into its own entity, specifically to focus on bringing it to production, seems like a smart move.
• •It could unlock a lot of value that was just sitting there, not really getting the attention it deserved as part of the bigger Seabridge picture.
• •I'm hoping this creates two strong, focused companies, and as a shareholder, I'm definitely looking for that value crystallization.

Hey everyone, just read this article about Seabridge Gold shareholders approving the Courageous Lake spin-out: https://www.streetwisereports.com/article/2026/05/27/gold-co-s-shareholders-approve-spin-out-of-courageous-lake-in-northwest-territories.html

My initial reaction is pretty positive. I've been holding SEA for a while now, mostly for long-term diversification in my retirement portfolio, and honestly, the Courageous Lake asset has always felt a bit sidelined by KSM. Spinning it out into its own entity, specifically to focus on bringing it to production, seems like a smart move. It could unlock a lot of value that was just sitting there, not really getting the attention it deserved as part of the bigger Seabridge picture. I'm hoping this creates two strong, focused companies, and as a shareholder, I'm definitely looking for that value crystallization. Plus, with the current gold price environment, getting another project closer to actual ounces in the ground is a good thing for the sector.

What do you all think? Are you existing Seabridge holders, and how does this impact your view of your position? Or for those on the sidelines, does this spin-out make either the new Courageous Lake company or the streamlined core Seabridge look more appealing? Always interesting to hear different perspectives on these kinds of corporate moves, especially when they could affect my grandkids' inheritance someday!