Seabridge Gold Inc. announced on October 29, 2025, that it has received $4.4 million in recovered funds from the Canada Revenue Agency (CRA). This recovery resulted from the Supreme Court of British Columbia (SCBC) reversing CRA's previous decision to deny BC Mineral Exploration Tax Credits (BC METC) for the years 2010 and 2011.
The company had already received reimbursement for trial costs and has now fully recovered the funds held by CRA during the appeal process, along with accrued interest. The SCBC judgment in March 2025 ruled substantially in favor of Seabridge's position, confirming that over 92% of the claimed expenses qualified as mining exploration expenses.
Seabridge believes this BC METC ruling should trigger a further recovery of $9.4 million in tax, penalties, and interest currently held by CRA. This larger amount relates to CRA's denial of flow-through mining expenditures incurred in the company's 2014-2016 exploration programs, which were denied for the same reasons rejected by the SCBC.
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