Seabridge Gold (SA) 40-F21 Mar 182017 FY Annual report (Canada)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2017shares
Document And Entity Information
Entity Registrant Name	SEABRIDGE GOLD INC
Entity Central Index Key	1,231,346
Document Type	40-F
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	57,667,118
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017

Consolidated Statements of Fina

Consolidated Statements of Financial Position - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 4,049	$ 1,646
Short-term deposits	12,056	6,120
Amounts receivable and prepaid expenses	622	637
Investments	6,861	4,661
Total current assets	23,588	13,064
Non-current assets
Mineral interests	358,135	322,930
Reclamation deposits	1,185	1,991
Total non-current assets	359,320	324,921
Total assets	382,908	337,985
Current liabilities
Accounts payable and accrued liabilities	3,961	5,721
Flow-through share premium	2,230	0
Total current liabilities	6,191	5,721
Non-current liabilities
Deferred income tax liabilities	18,598	17,395
Provision for reclamation liabilities	2,481	3,510
Total non-current liabilities	21,079	20,906
Total liabilities	27,270	26,627
Shareholders’ equity	355,638	311,358
Total liabilities and shareholders’ equity	$ 382,908	$ 337,985

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statement of profit or loss and other comprehensive income [abstract]
Corporate and administrative expenses	$ (13,673)	$ (9,679)
Other income - flow-through shares	5,374	4,321
Gain on disposition of mineral interests	2,183	0
Environmental rehabilitation costs	(2,056)	0
Gain on investments	612	866
Impairment of investments	(680)	0
Interest income	149	149
Finance expense (income) and other expense (income)	(32)	28
Loss before income taxes	(8,123)	(4,315)
Income tax expense	(2,164)	(2,977)
Loss for the year	(10,287)	(7,289)
Items that may be reclassified subsequently to profit or loss:
Reclassification of previously deferred gains on available for sale investments	(331)	(278)
Unrealized gain on available for sale investments	234	734
Total other comprehensive income (loss)	(98)	456
Comprehensive loss for the year	$ (10,385)	$ (6,833)
Basic and diluted net loss per Common Share	$ (0.18)	$ (0.14)
Basic and diluted weighted average number of common shares outstanding	56,428,233	53,328,938

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders’ Equity - CAD ($) $ in Thousands	Share Capital	Warrants	Stock-based Compensation	Contributed Surplus	Deficit	Accumulated Other Comprehensive Income	Total
Shares, beginning of period at Dec. 31, 2015	52,139,626
Balance, beginning of period at Dec. 31, 2015	$ 325,624	$ 0	$ 22,591	$ 22,707	$ (89,075)	$ 137	$ 281,984
Share issuance, shares	1,000,000
Share issuance	$ 17,400						17,400
Share issuance acquisition of SnipGold Corp., shares	695,277
Share issuance acquisition of SnipGold Corp.	$ 12,452						12,452
Share issuance costs	$ (1,597)						(1,597)
Stock-based compensation			3,670				3,670
Stock options and warrants - acquisition of SnipGold Corp.			619				619
Exercised options, shares	303,644
Exercised options	$ 4,517		(1,273)				3,244
Expired options			(9,021)	9,021			0
Shares - RSUs, shares	183,250
Shares - RSUs	$ 1,835		(1,835)				0
Deferred tax	$ 419						419
Other comprehensive income						456	456
Net loss for the year					(7,289)		(7,289)
Shares, end of period at Dec. 31, 2016	54,321,797
Balance, end of period at Dec. 31, 2016	$ 360,650	0	14,751	31,728	(96,364)	593	311,358
Share issuance, shares	2,400,000
Share issuance	$ 33,470						33,470
Share issuance - acquisition of Snowstorm, shares	700,000
Share issuance - acquisition of Snowstorm	$ 10,073						10,073
Share issuance costs	$ (2,660)						(2,660)
Stock-based compensation			7,518				7,518
Warrant issuance - acquisition of Snowstorm		3,275					3,275
Exercised options, shares	190,984
Exercised options	$ 3,002		(737)				2,265
Exercised warrants, shares	1,587
Exercised warrants	$ 30		(15)				15
Expired options			(4,312)	4,312			0
Shares - RSUs, shares	62,750
Shares - RSUs	$ 656		(656)				0
Deferred tax	$ 709						709
Other comprehensive income						(98)	(98)
Net loss for the year					(10,287)		(10,287)
Shares, end of period at Dec. 31, 2017	57,677,118
Balance, end of period at Dec. 31, 2017	$ 405,930	$ 3,275	$ 16,549	$ 36,040	$ (106,651)	$ 495	$ 355,638

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating Activities
Net loss	$ (10,287)	$ (7,289)
Items not affecting cash:
Stock-based compensation	7,518	3,670
Gain on disposition of mineral interests	(2,183)	0
Other income - flow-though shares	(5,374)	(4,321)
Income tax expense	2,164	2,977
Gain on investments	(612)	(866)
Impairment of investments	680	0
Finance expense (income) and other expense (income)	32	(33)
Changes in non-cash working capital items:
Amounts receivable and prepaid expenses	15	(3)
Accounts payable and accrued liabilities	(2,094)	690
Net cash used in operating activities	(10,141)	(5,178)
Investing Activities
Mineral interests	(21,916)	(24,070)
Acquisition of SnipGold Corp.	0	(1,602)
Acquisition of Snowstorm Exploration LLC	(979)	0
Investment of short-term deposits	(28,000)	(18,000)
Investment in associate	(1,638)	0
Redemption of reclamation deposits	892	0
Redemption of short-term deposits	22,064	26,420
Cash proceeds from sale of investments	1,426	700
Net cash used in investing activities	(28,151)	(16,552)
Financing Activities
Issue of share capital (net of costs)	38,414	22,386
Exercise of options and warrants	2,281	0
Net cash from financing activities	40,695	22,386
Net increase in cash and cash equivalents during the year	2,403	656
Cash and cash equivalents, beginning of the year	1,646	990
Cash and cash equivalents, end of the year	$ 4,049	$ 1,646

1. Reporting Entity

1. Reporting Entity	12 Months Ended
1. Reporting Entity	Dec. 31, 2017
Reporting Entity
Reporting Entity	Seabridge Gold Inc. is comprised of Seabridge Gold Inc. (“Seabridge” or the “Company”) and its subsidiaries (Seabridge Gold (NWT) Inc., Seabridge Gold Corp., SnipGold Corp. and Snowstorm Exploration LLC) and is a company engaged in the acquisition and exploration of gold properties located in North America. The Company was incorporated under the laws of British Columbia, Canada on September 4, 1979 and continued under the laws of Canada on October 31, 2002. Its common shares are listed on the Toronto Stock Exchange trading under the symbol “SEA” and on the New York Stock Exchange under the symbol “SA”. The Company is domiciled in Canada, the address of its registered office is 10th Floor, 595 Howe Street, Vancouver, British Columbia, Canada V6C 2T5 and the address of its corporate office is 106 Front Street East, 4th Floor, Toronto, Ontario, Canada M5A 1E1.

2. Statement of Compliance and

2. Statement of Compliance and Basis of Presentation	12 Months Ended
2. Statement of Compliance and Basis of Presentation	Dec. 31, 2017
Statement Of Compliance And Basis Of Presentation
Statement of Compliance and Basis of Presentation	These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These financial statements were authorized for issuance by the Board of Directors of the Company on March 19, 2018.

3. Significant Accounting Polic

3. Significant Accounting Policies	12 Months Ended
3. Significant Accounting Policies	Dec. 31, 2017
Significant Accounting Policies
Significant Accounting Policies	The significant accounting policies used in the preparation of these consolidated financial statements are described below. (a) Basis of measurement The consolidated financial statements have been prepared on the historical cost basis, except for available-for-sale financial instruments, which are measured at fair value. (b) Basis of consolidation – subsidiaries Subsidiaries are entities over which the Company has control. Control over an entity exists when the Company is exposed or has rights to returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date on which control ceases. Business acquisitions are accounted for using the acquisition method whereby acquired assets and liabilities are recorded at fair value as of the date of acquisition with the excess of the purchase consideration over such fair value being recorded as goodwill and allocated to cash generating units. Non-controlling interest in an acquisition may be measured at either fair value or at the non-controlling interest’s proportionate share of the fair value of the acquiree’s net identifiable assets. If the fair value of the net assets acquired exceeds the purchase consideration, the difference is recognized immediately as a gain in the consolidated statement of operations and comprehensive loss. Where a business combination is achieved in stages, previously held equity interests in the acquiree are re-measured at acquisition-date fair value and any resulting gain or loss is recognized in the consolidated statement of operations and comprehensive loss. Acquisition related costs are expensed during the period in which they are incurred, except for the cost of debt or equity instruments issued in relation to the acquisition which is included in the carrying amount of the related instrument. Certain fair values may be estimated at the acquisition date pending confirmation or completion of the valuation process. Where provisional values are used in accounting for a business combination, they may be adjusted retrospectively in subsequent periods. However, the measurement period will not exceed one year from the acquisition date. (c) Associates An associate is an entity over which the Company has significant influence but not control and one that is neither a subsidiary nor an interest in a joint arrangement. Significant influence is presumed to exist where the Company has between 20% and 50% of the voting rights, but can also arise where the Company has less than 20% if influence is exerted over policy decisions that affect the entity. The Company’s share of the net assets and net income or loss of associates is accounted for in the consolidated financial statements using the equity method of accounting. (d) Translation of foreign currencies These consolidated financial statements are presented in Canadian dollars, which is the Company’s, and each of its subsidiary’s, functional currency. Foreign currency transactions are translated into Canadian dollars using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses are recognized in the consolidated statement of operations and comprehensive loss. Monetary assets and liabilities of the Company denominated in a foreign currency are translated into Canadian dollars at the rate of exchange at the statement of financial position date. Non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at average exchange rates prevailing during the period. Exchange gains and losses are included in the determination of profit or loss for the year. (e) Critical accounting judgments and estimation uncertainty In applying the Company’s accounting policies in conformity with IFRS, management is required to make judgments, estimates and assumptions about the carrying amounts of certain assets and liabilities. These estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. (i) Critical accounting judgments The following are the critical judgments, that the Company has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements (refer to appropriate accounting policies for details). (a) Mineral reserves and resources To calculate reserves and resources, the Company uses assumptions and evaluates technical, economic and geological conditions for each ore body. Measured grade of the ore and geotechnical considerations can have a significant effect on the carrying value of mineral properties and therefore the recoverability of costs. Future market prices for gold and copper and other commodities are also factored into valuation models. Changes to these factors can affect the recoverability of mineral properties and impairment thereto. (b) Impairment of assets When the Company has judged that an indication of impairment exists such as a significant or prolonged decline in the fair value of an available-for-sale investment or mineral interests, the investment or carrying value is written down to fair value and the loss is recognized in the statement of operations and comprehensive loss. (c) Asset retirement obligations When the Company has judged that a constructive or legal obligation exists for reclamation and rehabilitation activities on mineral claims disturbed through exploration or historical mining activities, an estimate of future costs is recognized as an expense on the statement of operations and comprehensive loss. (ii) Key sources of estimation uncertainty (a) Mineral properties The recoverability of the carrying value of mineral properties and associated deferred exploration expenses is based on market conditions for minerals, underlying mineral resources associated with the properties and future costs that may be required for ultimate realization through mining operations or by sale. The Company is in an industry that is dependent on a number of factors including environmental, legal and political risks, the existence of economically recoverable reserves, the ability of the Company and its subsidiaries to obtain necessary financing to complete the development, and future profitable production or the proceeds of disposition thereof. (b) Asset retirement obligations The provision for asset retirement obligations is the best estimate of the present value of the future costs of reclaiming the environment that has been subject to disturbance through exploration activities or historical mining activities. The Company uses assumptions and evaluates technical conditions for each project that have inherent uncertainties, including changes to laws and practices and to changes in the status of the site from time-to-time. The timing and cost of the rehabilitation is also subject to uncertainty. These changes, if any, are recorded on the statement of financial position as incurred. (c) Share based payments The factors affecting stock-based compensation include estimates of when stock options and restricted share units might be exercised and share price volatility. The timing for exercise of options is out of the Company’s control and will depend upon a variety of factors, including the market value of the Company’s shares and financial objectives of the share-based instrument holders. The Company uses historical data to determine volatility in accordance with appropriate fair value methodology. However, the future volatility is uncertain and the model has its limitations. (d) Deferred Income taxes The Company has operations in Canada and the United States and files corporate tax returns in each. Deferred tax liabilities are estimated for tax that may become payable in the future. Future payments could be materially different from our estimated deferred tax liabilities. We have deferred tax assets related to non-capital losses and other deductible temporary differences. Deferred tax assets are only recognized when it is probable that there will be sufficient taxable income in the future to recover them. (f) Cash and cash equivalents and short-term deposits Cash and cash equivalents and short-term deposits consist of balances with banks and investments in money market instruments. These instruments are carried at fair value through profit or loss. Cash and cash equivalents consist of investments with maturities of up to 90 days at the date of purchase. Short-term deposits consist of investments with maturities from 91 days to one year at the date of purchase. (g) Investments Investments in marketable securities accounted for as available-for-sale securities are recorded at fair value. The fair values of the investments are determined based on the closing prices reported on recognized securities exchanges and over-the-counter markets. Such individual market values do not necessarily represent the realizable value of the total holding of any security, which may be more or less than that indicated by market quotations. Increases or decreases in the market value of investments are recorded in other comprehensive income net of related income taxes. When there has been a loss in the value of an investment in marketable securities that is determined to be significant or prolonged, the investment is written down and the loss is recorded in the statement of operations and comprehensive loss. (h) Mineral interests Mineral resource properties are carried at cost. The Company considers exploration and development costs and expenditures to have the characteristics of property and equipment and, as such, the Company capitalizes all exploration costs, which include license acquisition costs, advance royalties, holding costs, field exploration and field supervisory costs and all costs associated with exploration and evaluation activities relating to specific properties as incurred, until those properties are determined to be economically viable for mineral production. General and administrative costs are only included in the measurement of exploration and evaluation costs where they are related directly to activities in a particular area of interest. The fair value of any recoveries from the disposition or optioning of a mineral property is credited to the carrying value of mineral properties. Once a project has been established as commercially viable and technically feasible, related development expenditures are capitalized. This includes costs incurred in preparing the site for mining operations. Capitalization ceases when the mine is capable of commercial operations. The actual recovery value of capitalized expenditures for mineral properties and deferred exploration costs will be contingent upon the discovery of economically viable reserves and the Company’s financial ability at that time to fully exploit these properties or determine a suitable plan of disposition. When a decision is made to proceed with development in respect of a particular area of interest, the relevant exploration and evaluation asset is tested for impairment, reclassified to development properties, and then amortized over the life of the reserves associated with the area of interest once mining operations have commenced. (i) Property and equipment Property and equipment are stated at cost, less accumulated depreciation and accumulated impairment losses. The cost of property and equipment comprises its purchase price, any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management and the estimated closure and restoration costs associated with the asset. Depreciation is provided using the straight-line method at an annual rate of 20% from the date of acquisition. Residual values and useful lives are reviewed, and adjusted if appropriate, at each statement of financial position date. Changes to the estimated residual values or useful lives are accounted for prospectively. (j) Impairment of non-financial assets The carrying value of the Company's mineral interests is assessed for impairment when indicators of such impairment exist. If any indication of impairment exists, an estimate of the asset's recoverable amount is calculated to determine the extent of the impairment loss, if any. The recoverable amount is determined as the higher of the fair value less costs to sell for the asset and the asset's value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Impairment is determined on an asset by asset basis, whenever possible. If it is not possible to determine impairment on an individual asset basis, then impairment is considered on the basis of a cash generating unit (“CGU”). CGUs represent the lowest level for which there are separately identifiable cash inflows that are largely independent of the cash flows from other assets or other group of assets. If the carrying amount of the asset exceeds its recoverable amount, the asset is impaired and an impairment loss is charged immediately to comprehensive loss within the statement of operations and comprehensive loss so as to reduce the carrying amount to its recoverable amount. An assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such indication exists, the Company makes an estimate of the recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset's recoverable amount since the last impairment loss was recognized. If this is the case, the carrying amount of the asset is increased to its recoverable amount. The increased amount cannot exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the statement of operations and comprehensive loss. (k) Reclamation liabilities Provisions for environmental restoration are recognized when: (i) the Company has a present legal or constructive obligation as a result of past exploration, development or production events; (ii) it is probable that an outflow of resources will be required to settle the obligation; (iii) and the amount can be reliably estimated. Provisions do not include any additional obligations which are expected to arise from future disturbance. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation incorporating risks specific to the obligation using a pre-tax rate that reflects current market assessments of the time value of money. When estimates of obligations are revised, the present value of the changes in obligations is recorded in the period by a change in the obligation amount and a corresponding adjustment to the mineral interest asset. The amortization or ‘unwinding’ of the discount applied in establishing the net present value of provisions due to the passage of time is charged to the statement of operations and comprehensive loss in each accounting period. The ultimate cost of environmental remediation is uncertain and cost estimates can vary in response to many factors including changes to the relevant legal requirements, the emergence of new restoration techniques or experience at other mine sites. The expected timing of expenditure can also change, for example in response to changes in ore reserves or production rates. As a result there could be significant adjustments to the provisions for restoration and environmental cleanup, which would affect future financial results. Funds on deposit with third parties provided as security for future reclamation costs are included in reclamation deposits on the statement of financial position. (l) Income taxes Income tax expense comprises current and deferred tax. Current and deferred tax are recognized in profit or loss except to the extent that it relates to a business combination or items recognized directly in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized using the asset and liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is measured at the rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantially enacted by the reporting date. Deferred tax is not recognized for the following temporary differences; the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill which is not deductible for tax purposes. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. The Company has certain non-monetary assets and liabilities for which the tax reporting currency is different from its functional currency. Any translation gains or losses on the remeasurement of these items at current exchange rates versus historic exchange rates that give rise to a temporary difference is recorded as a deferred tax asset or liability. (m) Stock-based compensation (options and restricted share units) The Company applies the fair value method for stock-based compensation and other stock-based payments. The fair value of options is valued using the Black Scholes option-pricing model and other models for the two-tiered options and restricted share units as may be appropriate. The grant date fair value of stock-based payment awards granted to employees is recognized as an employee expense, with a corresponding increase in equity, over the period that the employees unconditionally become entitled to the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date (Note 10). The Company reviews estimated forfeitures of options on an ongoing basis. (n) Flow-through shares The Company finances a portion of its exploration activities through the issuance of flow-through common shares. The tax deductibility of qualifying expenditures is transferred to the investor purchasing the shares. Consideration for the transferred deductibility of the qualifying expenditures is often paid through a premium price over the market price of the Company’s shares. The Company reports this premium as a liability on the statement of financial position and the balance is reported as share capital. At each reporting period, and as qualifying expenditures have been incurred, the liability is reduced on a proportionate basis and income is recognized in the statement of operations and comprehensive loss. (o) Net profit (loss) per common share Basic profit (loss) per common share is computed based on the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method for calculating diluted earnings per share which assumes that stock options and RSUs with an exercise price lower than the average quoted market price were exercised at the later of the beginning of the year, or time of issue. Stock options with an exercise price greater than the average quoted market price of the common shares and RSUs are not included in the calculation of diluted profit per share as the effect is anti-dilutive. (p) Financial assets and liabilities Financial assets within the scope of IAS 39 are classified as either financial assets at fair value through profit or loss, loans and receivables, held-to-maturity investments or available-for-sale financial assets, as appropriate. When financial assets are recognized initially, they are measured at fair value, plus, in the case of financial assets not at fair value through profit or loss, directly attributable transaction costs. The Company determines the classification of its financial assets at initial recognition and, where allowed and appropriate, re-evaluates this designation at each financial year-end. The Company’s financial instruments are comprised of the following: Financial assets: Classification: Cash and cash equivalents Fair value through profit or loss Short-term deposits Fair value through profit or loss Amounts receivable Loans and receivables Investments Available-for-sale Financial liabilities: Classification: Accounts payable and other liabilities Other financial liabilities (i) Financial assets at fair value through profit or loss: Financial assets at fair value through profit or loss include financial assets held for trading and financial assets designated upon initial recognition as fair value through profit or loss. (ii) Loans and receivables: Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market, do not qualify as trading assets and have not been designated as either fair value through profit or loss or available for sale. After initial measurement, loans and receivables are subsequently measured at amortized cost using the effective interest method less any allowance for impairment. Amortized cost is calculated taking into account any discount or premium on acquisition and includes fees that are an integral part of the effective interest rate and transaction costs. Gains and losses are recognized in the consolidated statement of operations and comprehensive loss when the loans and receivables are derecognized or impaired, as well as through the amortization process. (iii) Available-for-sale investments: Financial assets classified as available-for-sale are measured at fair value, with changes in fair values recognized in other comprehensive income, except when there is objective evidence that the asset is impaired, at which point the cumulative loss that had been previously recognized in other comprehensive income is recognized within the consolidated statement of operations and comprehensive loss. (iv) Fair value: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value. (v) Impairment of financial assets: Financial assets are assessed for indicators of impairment at each financial reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the instrument have been impacted. Evidence of impairment could include: · significant financial difficulty of the issuer or counterparty; or · default or delinquency in interest or principal payments; or · it becoming probable that the borrower will enter bankruptcy or financial re-organization. The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of amounts receivable, where the carrying amount is reduced through the use of an allowance account. When an amount receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognized in profit or loss. If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment reversed does not exceed what the amortized cost would have been had the impairment not been recognized. In the case of an impairment loss reversal being recorded for available-for-sale marketable securities, the reversal is recorded in other comprehensive income. (q) New accounting standards On January 19, 2016, the IASB issued Recognition of Deferred Tax Assets for Unrealized Losses (Amendments to IAS 12). The amendments apply retrospectively for annual periods beginning on or after January 1, 2017 and have been implemented as of that date. The amendments clarify that the existence of a deductible temporary difference depends only on a comparison of the carrying value of an asset and its tax base at the end of the reporting period. It is not affected by possible future changes in the carrying value or expected recovery of the asset. The amendments also clarify the methodology to be used to determine future taxable profits while assessing the utilization of deductible temporary differences. The implementation of this amendment did not have a material impact on the Company’s financial statements. (r) New accounting standards not yet adopted New standards and amendments to standards that have been issued and that are relevant to the Company and are not yet effective and have therefore not been applied in preparing these consolidated financial statements are: IFRS 9, Financial instruments (“IFRS 9”) introduces new requirements for classification and measurement of financial assets, additional changes to financial liabilities and a new general hedge accounting standard. The mandatory effective date is for annual periods beginning on or after January 1, 2018. The Company will apply IFRS 9 on the effective date. The Company expects to record a reclassification, within shareholders’ equity, reducing deficit and increasing accumulated other comprehensive income by $2.3 million related to the accumulated impairments recorded on investments it held at December 31, 2017. The Company expects the revised approach to hedge accounting to have no effect on the financial statements. IFRS 15, Revenue from contracts with customers (“IFRS 15”) will replace IAS 18 Revenue, IAS 11 Construction contracts, and some revenue-related interpretations. The new standard is effective for annual periods beginning on or after January 1, 2018. The standard contains a single model that applies to contracts with customers and two approaches to recognizing revenue at either a point in time or over time. The model features a five-step analysis of transactions to determine when and how much revenue should be recognized. New estimates and judgmental thresholds were introduced, which may affect the amount and/or timing of revenue recognized. The Company has evaluated the impact of the adoption of IFRS 15 and does not expect its adoption will have a material impact on the financial statements. IFRS 16, Leases (“IFRS 16”) will replace IAS 17 Leases. The new standard requires lessees to recognize assets and liabilities for most leases. Application of the standard is mandatory for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted, provided the new revenue standard, IFRS 15 has been applied or is applied at the same date as IFRS 16. The Company plans to apply IFRS 16 on the effective date. The Company is currently evaluating the impact of the changes to its financial statements based on the characteristics of any leases in place before the effective date expects to report additional details on the anticipated impact, if any, in subsequent periods. IFRS 2, Share-based payments amendments (“Amendments to IFRS 2”). The Amendments to IFRS 2 clarify the classification and measurement of share-based payments for cash-settled share-based payment transactions or for share-based payment transactions with net settlement features for withholding tax obligations or for any modifications to the terms and conditions of a share-based payment transaction that changes its classification from cash-settled to equity-settled. The effective date of the amendments is January 1, 2018 and the Company intends to adopt the amendments on the effective date. The Company does not expect the amendments to have a material impact on the financial statements based on current stock-based payment practices.

4. Cash and Cash Equivalents an

4. Cash and Cash Equivalents and Short-term Deposits	12 Months Ended
4. Cash and Cash Equivalents and Short-term Deposits	Dec. 31, 2017
Cash And Cash Equivalents And Short-term Deposits
Cash and Cash Equivalents and Short-term Deposits	($000s) December 31, 2017 December 31, 2016 Cash and cash equivalents 4,049 1,646 Short-term deposits 12,056 6,120 16,105 7,766 All of the cash and cash equivalents are held in a Canadian Schedule I bank. Short-term deposits consist of Canadian Schedule I bank guaranteed deposits and are cashable in whole or in part with interest at any time to maturity.

5. Amounts Receivable and Prepa

5. Amounts Receivable and Prepaid Expenses	12 Months Ended
5. Amounts Receivable and Prepaid Expenses	Dec. 31, 2017
Amounts Receivable And Prepaid Expenses
Amounts Receivable and Prepaid Expenses	($000s) December 31, 2017 December 31, 2016 HST 265 250 Prepaid expenses and other receivables 357 387 622 637

6. Investments

6. Investments	12 Months Ended
6. Investments	Dec. 31, 2017
Investments Abstract
Investments	($000s) January 1, 2017 Dispositions Gain on disposition Loss of associates Impairment Additions Other comprehensive loss December 31, 2017 Available-for-sale investments 2,765 (1,426 ) 718 — (680 ) 2,154 (98 ) 3,433 Investment in associate 1,896 — — (106 ) — 1,638 — 3,428 4,661 (1,426 ) 718 (106 ) (680 ) 3,792 (98 ) 6,861 ($000s) January 1, 2016 Dispositions Gain on disposition Gain of associates Impairment Additions Other comprehensive income December 31, 2016 Available-for-sale investments 2,731 (700 ) 278 — — — 456 2,765 Investment in associate 1,308 — — 588 — — — 1,896 4,039 (700 ) 278 588 — — 456 4,661 The Company holds common shares of several mining companies that were received as consideration for optioned mineral properties and other short-term investments, including one gold exchange traded receipt. These available-for- sale financial assets are recorded at fair value of $3.4 million (2016 - $2.8 million) on the consolidated statements of financial position. During 2017 the Company received common shares of two mining companies in return for the disposition of mineral properties. These common shares had a fair value of $2.2 million at the time of receipt. Since the time of receipt these investments were impaired and a $0.7 million expense was recorded on the consolidated statement of operations and comprehensive loss. During 2017 the Company disposed of a portion of its holdings in two investments and recorded a gain of $0.7 million on the consolidated statement of operations and comprehensive loss. During the year ended December 31, 2017, the Company recorded its proportionate share of the net loss of an investment in an associate accounted for on the equity basis of $0.1 million (2016 – $0.6 million income) within loss on investments on the consolidated statement of operations and comprehensive loss. During 2017, the Company purchased 883,200 common shares and 51,600 warrants of the associate for $1.6 million. Each warrant allowed the Company to purchase one common share of the associate for US$2.00 per share until February 14, 2018 and allows for the same purchase at US$2.25 within the period February 15, 2018 to February 13, 2019, when they expire. Subsequent to December 31, 2017, the option to purchase the common shares at US$2.00 lasped and the Company did not purchase additional shares. At December 31, 2017 the carrying value of the Company’s investment in the associate was $3.4 million (2016 - $1.9 million) on the statement of financial position.

7. Mineral Interests

7. Mineral Interests	12 Months Ended
7. Mineral Interests	Dec. 31, 2017
Mineral Interests
Mineral Interests	Mineral interest expenditures on projects are considered as exploration and evaluation and their related costs consist of the following: ($000s) Balance, Expenditures / Acquisitions Recoveries Balance, January 1, 2017 2017 2017 December 31, 2017 KSM 233,662 14,899 — 248,561 Courageous Lake 68,702 885 — 69,587 Iskut 19,795 7,311 (1,885 ) 25,221 Snowstorm — 13,995 — 13,995 Grassy Mountain 771 — — 771 322,930 37,090 (1,885 ) 358,135 ($000s) Balance, Expenditures / Acquisitions Recoveries Balance, January 1, 2016 2016 2016 December 31, 2016 KSM 209,929 23,733 — 233,662 Courageous Lake 68,098 604 — 68,702 Iskut — 19,795 — 19,795 Grassy Mountain 771 — — 771 278,798 44,132 — 322,930 Continued exploration of the Company’s mineral properties is subject to certain lease payments, project holding costs, rental fees and filing fees. a) KSM (Kerr-Sulphurets-Mitchell) In 2001, the Company purchased a 100% interest in contiguous claim blocks in the Skeena Mining Division, British Columbia. The vendor maintains a 1% net smelter royalty interest on the project, subject to maximum aggregate royalty payments of $4.5 million. The Company is obligated to purchase the net smelter royalty interest for the price of $4.5 million in the event that a positive feasibility study demonstrates a 10% or higher internal rate of return after tax and financing costs. In 2002, the Company optioned the KSM property to Noranda Inc. (which subsequently became Falconbridge Limited and then Xstrata plc.- now Glencore plc) which could earn up to a 65% interest by incurring exploration expenditures and funding the cost of a feasibility study. In April 2006, the Company reacquired the exploration rights to the KSM property from Falconbridge. On closing of the formal agreement in August 2006, the Company issued Falconbridge 200,000 common shares of the Company with a deemed value of $3,140,000 excluding share issue costs. The Company also issued 2 million warrants to purchase common shares of the Company with an exercise price of $13.50 each. The 2,000,000 warrants were exercised in 2007 and proceeds of $27,000,000 were received by the Company. In July 2009, the Company agreed to acquire various mineral claims immediately adjacent to the KSM property for further exploration and possible mine infrastructure use. The terms of the agreement required the Company to pay $1 million in cash, issue 75,000 shares and pay advance royalties of $100,000 per year for 10 years commencing on closing of the agreement. The property is subject to a 4.5% net smelter royalty from which the advance royalties are deductible. The purchase agreement closed in September 2009, with the payment of $1 million in cash, the issuance of 75,000 shares valued at $2,442,750 and the payment of the first year’s $100,000 advance royalty. In February 2011, the Company acquired a 100% interest in adjacent mineral claims mainly for mine infrastructure purposes for a cash payment of $675,000, subject to a 2% net smelter returns royalty on these adjacent claims. In 2011 and 2012, the Company completed agreements granting a third party an option to acquire a 2% net smelter royalty on all gold and silver production sales from KSM for a payment equal to the lesser of $160 million or US$200 million. The option is exercisable for a period of 60 days following the announcement of receipt of all material approvals and permits, full project financing and certain other conditions for the KSM Project. In 2013, the Company applied for $4.4 million of refundable provincial tax credits related to exploration expenditures incurred in 2010 at KSM. The recovery was credited to mineral properties in 2013 and the Company collected the funds during 2014. Similarly, in 2014, the Company applied for $4.1 million of refundable provincial tax credits related to exploration expenditures incurred in 2011 at KSM and the recovery was credited to mineral properties in 2014 and in 2015 the Company collected the funds. In 2014, approval of an environmental assessment application, submitted to provincial and federal regulators in 2013 was obtained. In 2015, $18 million of expenditures were incurred on the KSM project as the Company finalized the analysis of the resource update on Deep Kerr and Iron Cap Lower Zone from the 2014 exploration drilling and executed the 2015 exploration and drilling program. In 2016, the Company charged $23.7 million to mineral interests while completing its 2016 exploration program and completing and filing a National Instrument 43-101 Technical Report that included an updated Preliminary Feasibility Study and a new Preliminary Economic Assessment. Included in the total is $3.6 million in respect of refundable provincial tax credits as described in note 8. In 2017, the Company incurred $14.9 million of exploration expenditures related to the KSM Project while conducting the 2017 drilling and exploration program. b) Courageous Lake In 2002, the Company purchased a 100% interest in the Courageous Lake gold project from Newmont Canada Limited and Total Resources (Canada) Limited (“the Vendors”) for US$2.5 million. The Courageous Lake gold project consists of mining leases located in Northwest Territories of Canada. In 2004, an additional property was optioned in the area. Under the terms of the agreement, the Company paid $50,000 on closing and was required to make option payments of $50,000 on each of the first two anniversary dates and subsequently $100,000 per year up to a total of $1,250,000. The Company has made $1,150,000 in payments and will make the final annual payments in 2017. The property may be purchased outright at any time with the accelerated payment of the remaining balance. In each of 2015 and 2016, the Company incurred $0.6 million of exploration and other costs completing a limited exploration program while the Company continued its primary focus on exploration programs at KSM in 2015 and KSM and Iskut in 2016. The Company conducted a small geophysical study at Courageous Lake in 2017 and combined with other carrying costs has incurred approximately $0.9 millon of costs. c) Iskut On June 21, 2016, the Company purchased 100% of the common shares of SnipGold Corp. (“SnipGold”) which owns the Iskut Project, located in northwestern British Columbia. On the acquisition date, the Company issued 695,277 common shares, 54,968 stock options and 1,587 warrants with a combined fair value of $13.1 million. The Company also incurred $1.7 million of acquisition costs. Based on the relative fair values of the net assets acquired, $16.4 million was attributed to mineral interests on the the statement of financial position. Since the acquisition date, the Company commenced and substantially completed an exploration program at Iskut spending, approximately $3.4 million on the project. A full description of the allocation of purchase price of SnipGold is contained in note 10. The Company incurred $7.3 million of exploration costs in 2017. In 2017, the Company entered into an agreement with Colorado Resources Ltd. (“Colorado”) whereby Colorado agreed to purchase SnipGold’s 49% interest in the KSP Project. KSP adjoins the Iskut Project. The transaction resulted in Colorado owning a 100% interest in the KSP Project upon the payment to the Company of $1.0 million in cash, 2,000,000 Colorado common shares, with a fair value of $0.8 million, and a 2% net smelter return (“NSR”) on the property. Half of the NSR can be repurchased at any time for $2.0 million. The Company obtained its interest in the KSP Project as part of its acquisition of SnipGold Corp. in June, 2016. At the time of the SnipGold acquisition, the KSP Project was subject to an exploration earn-in agreement in favour of Colorado as operator. In May, 2017, Colorado earned a 51% interest in KSP with the payment of $0.1 million. The disposition has been recorded as a derecognition of the carrying value of KSP within mineral interests on the consolidated statement of financial position. d) Snowstorm On June 7, 2017, the Company purchased 100% of the common shares of Snowstorm Exploration LLC (“Snowstorm”) which owns the Snowstorm Project, located in northern Nevada. On the acquisition date, the Company issued 700,000 common shares, with a fair value of $14.39 per share and 500,000 common share purchase warrants with a fair value of $6.55 per common share purchase warrant for a combined fair value of $13.3 million. The common share purchase warrants are exercisable for four years at $15.65 per share. In addition the Company has agreed to make a conditional cash payment of US$2.5 million if exploration activities at the Snowstorm Project result in defining a minimum of five million ounces of gold resources compliant with National Instrument 43-101 and a further cash payment of US$5.0 million on the delineation of an additional five million ounces of gold resources. The Company also incurred $1.0 million of acquisition costs. Based on the relative fair values of the net assets acquired, $14 million was added to mineral interests on the statement of financial position. A full description of the allocation of purchase price of Snowstorm is contained in note 10(b). e) Other Nevada Projects In the first quarter of 2017, the Company disposed of its leasehold interest in the Castle Black Rock Project and received 1,500,000 common shares of Columbus Gold Corp., with a fair value of $1.4 million as payment. All historical costs related to the Castle Black Rock Project had been recovered or impaired in prior years and there was no carrying value recorded for the project at the time of receipt of the payment. As such, the fair value of the common shares received has been recorded as a gain on the disposition of mineral interests on the consolidated statement of operations and comprehensive loss. f) Grassy Mountain In 2000, the Company acquired an option on a 100% interest in mineral claims located in Malheur County, Oregon, USA. During 2002, the Company paid US$50,000 in option payments. On December 23, 2002, the agreement was amended and the Company made a further option payment of US$300,000 and in March 2003 acquired the property for a payment of US$600,000. In April 2011, the Company announced that an agreement had been reached to option the Grassy Mountain Project to Calico Resources Corp. (“Calico”) which was subsequently amended in 2013. In the original agreement, in order to exercise the option, Calico was to issue to the Company (i) two million of its common shares following TSX Venture Exchange approval; (ii) four million of its common shares at the first anniversary, and (iii) eight million of its shares when the project has received the principal mining and environmental permits necessary for the construction and operation of a mine. The Company received the first two million common shares of Calico in 2011 and a value of $740,000 was recorded as a reduction to the carrying value of the mineral properties. In February 2013, the agreement was amended to allow for an accelerated exercise of the option and Calico issued 6,433,000 common shares and 4,567,000 special warrants to acquire a 100% interest in the Grassy Mountain Project. Each special warrant was exercisable to acquire one common share of Calico for no additional consideration. The fair value of the shares and special warrants reduced the carrying value of the mineral properties at the time of receipt of the securities. During 2013 and 2014, the Company elected to convert all of the special warrants into common shares. Following the de-recognition of the Grassy Mountain net assets, in 2013, a value of $771,000 has been retained within mineral properties. In July 2016 Calico was acquired by Paramount Gold Nevada Corp. (“Paramount”) through a plan of arrangement. In addition to the shares and special warrants received as consideration for the Grassy Mountain Project, after the delivery of a National Instrument 43-101 compliant feasibility study on the project, Paramount must either grant the Company a 10% net profits interest or pay the Company $10 million in cash, at the sole election of the Company. g) Other mineral properties (i) Red Mountain In 2001, the Company purchased a 100% interest in an array of assets associated with mineral claims in the Skeena Mining Division, British Columbia, together with related project data and drill core, an owned office building and a leased warehouse, various mining equipment on the project site, and a mineral exploration permit which was associated with a cash reclamation deposit of $1 million. The Company assumed all liabilities associated with the assets acquired, including all environmental liabilities, all ongoing licensing obligations and ongoing leasehold obligations including net smelter royalty obligations on certain mineral claims ranging from 2.0% to 6.5% as well as an annual minimum royalty payment of $50,000. In 2014, the Company entered into an agreement with IDM Mining (“IDM”) to option the Red Mountain Project. In order to exercise its option, IDM paid the Company $1 million in 2014 and another $1 million in 2015. IDM also issued to the Company 4,955,500 common shares, the fair value of which was $1.5 million, and was recorded in investments on the statement of financial position. IDM is also obligated to spend $7.5 million on the Red Mountain Project over a three year period. At the time of the receipt of the cash and shares mentioned above, there was no carrying value recorded for Red Mountain, as all historical acquisition and exploration costs had been fully recovered through option payments and other recoveries and as such, the $1 million received in 2015 and the combined value of the cash and shares of $2.5 million received in 2014 has been recorded on the statement of operations and comprehensive loss as a gain on the disposition of mineral properties in the respective years. Upon commencing commercial production IDM must pay the Company an additional $1.5 million and either an additional $4 million or sell to the Company up to 50,000 ounces of gold at a pre-determined price. In 2017 IDM exercised its option to acquire the Red Mountain Project and the Company derecognized approximately $1.0 million of accrued reclamation liabilities. The Company released a reclamation deposit of $1.0 million into cash and pursuant to purchase agreements, made a third party payment of $0.3 million. The derecognition of the reclamation liability net with the third party payment resulted in a $0.8 million gain on the consolidated statement of operations and comprehensive loss. (ii) Quartz Mountain In 2001, the Company purchased a 100% interest in mineral claims in Lake County, Oregon. The vendor retained a 1% net smelter royalty interest on unpatented claims acquired and a 0.5% net smelter royalty interest was granted to an unrelated party as a finder’s fee. In 2011, subject to an agreement between the Company and Orsa Ventures Corp. (“Orsa”) the Company granted Orsa the exclusive option to earn a 100% interest in the Quartz Mountain gold property and all of Seabridge's undivided 50% beneficial joint venture interest in an adjacent peripheral property. The agreement stipulated that Orsa would pay the Company $0.5 million on or before the fifth day following regulatory approval of the option agreement and make staged payments of $5 million in cash or common shares of Orsa, at the discretion of the Company. In 2013, Alamos Gold Inc. (“Alamos”) acquired Orsa and its option to acquire Quartz Mountain and the Company received the next staged payment of $2 million from Alamos. There is no carrying value recorded for Quartz Mountain as all historical acquisition and exploration costs have been fully recovered through option payments and other recoveries. Upon the completion of a feasibility study, Alamos must pay the Company $3 million and either an additional $15 million or provide a 2% net smelter return royalty on production at Quartz Mountain, at the option of the Company.

8. Accounts Payable and Accrued

8. Accounts Payable and Accrued Liabilities	12 Months Ended
8. Accounts Payable and Accrued Liabilities	Dec. 31, 2017
Accounts Payable And Accrued Liabilities
Accounts Payable and Accrued Liabilities	($000s) December 31, 2017 December 31, 2016 Trade payables 1,773 1,637 Trade and other payables due to related parties 74 148 Non-trade payables and accrued expenses 2,114 3,936 3,961 5,721 In 2014 and 2015, the Company received $8.5 million related to the application for refund under the British Columbia Mineral Exploration Tax Credit program, for spending in 2010 and 2011. During 2016, upon the completion of an audit of the application by tax authorities, the Company was assessed $3.6 million, including accrued interest, for expenditures related to the application that the tax authority has categorized as not applicable to the recovery program. The Company recorded a $3.6 million provision within accounts payable and accrued liabilities on the consolidated statement of financial position as at December 31, 2016, with a corresponding increase to mineral interests. In 2017 the Company filed an objection to the reassessment and paid one-half of the accrued balance while the objection is reviewed.

9. Provision for Reclamation Li

9. Provision for Reclamation Liabilities	12 Months Ended
9. Provision for Reclamation Liabilities	Dec. 31, 2017
Provision For Reclamation Liabilities
Provision for Reclamation Liabilities	($000s) December 31, 2017 December 31, 2016 Beginning of the year 3,510 1,329 Acquisition of SnipGold (note 10) - 2,224 Derecognition of Red Mountain (1,039) - Accretion 10 19 Current year adjustment - (62) End of the year 2,481 3,510 The Company’s policy on reclamation liabilities is described in Note 3. Although the ultimate costs to be incurred are uncertain, the Company’s estimates are based on independent studies or agreements with the respective government body for each project using current restoration standards and techniques. The estimate of the asset retirement obligations, as at December 31, 2017, was calculated using the total estimated cash flows, of $2.5 million (December 31, 2016 - $3.5 million) required to settle estimated obligations and expected timing of cash flow payments required to settle the obligations between 2017 and 2026. The discount rate used to calculate the present value of the reclamation obligations was 1.6% at December 31, 2017 (1.7% - December 31, 2016). In 2017, the Company derecognized approximately $1.0 million of accrued reclamation liabilities related to the Red Mountain Project (see Note 7). The Company has placed a total of $1.2 million (December 31, 2016 - $2.0 million) on deposit with financial institutions that are pledged as security against the reclamation liability. In 2017, the Company charged $2.1 million of rehabilitation costs to the consolidated statement of operations and comprehensive loss related to the remediation and closure planning of the Johnny Mountain Mine site contained within the Iskut property in British Columbia. Costs included site cleanup and work being performed on an annual filing to the British Columbia Ministry of Energy, Mines and Petroleum Resources.

10. Shareholders_ Equity

10. Shareholders’ Equity	12 Months Ended
10. Shareholders’ Equity	Dec. 31, 2017
Shareholders Equity
Shareholders’ Equity	The Company is authorized to issue an unlimited number of preferred shares and common shares with no par value. No preferred shares have been issued or were outstanding at December 31, 2017 or December 31, 2016. The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to support the acquisition, exploration and development of mineral properties. The Board of Directors does not establish quantitative return on capital criteria for management, but rather relies on the expertise of the Company's management to sustain future development of the business. The properties in which the Company currently has an interest are in the exploration stage; as such the Company is dependent on external financing to fund its activities. In order to carry out the planned exploration and pay for administrative costs, the Company will spend its existing working capital and raise additional amounts as needed. The Company will continue to assess new properties and seek to acquire an interest in additional properties that would be accretive and meaningful to the Company. The Company is not subject to externally imposed capital requirements. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. There were no changes in the Company's approach to capital management during 2017. The Company considers its capital to be share capital, stock based compensation, contributed surplus and deficit. a) Equity financings In April 2017, the Company completed two equity financings. For the first financing, the Company issued 1,100,000 common shares at a price of C$14.30 per common share for aggregate gross proceeds of $15.7 million. For the second financing, the Company issued 1,100,000 flow-through common shares at a price of $20.00 per flow-through share for aggregate gross proceeds of $22 million. Share issuance costs of $2.7 million were incurred in relation to the two offerings and have been included in equity. The Company committed to renounce its ability to deduct qualifying exploration expenditures for the equivalent value of the gross proceeds of the flow-through financing and transfer the deductibility to the purchasers of the flow-through shares. The effective date of the renouncement was December 31, 2017. At the time of issuance of the flow-through shares, a $7 million premium was recognized as a liability on the statement of financial position with the balance recorded as share capital. At each reporting period, as qualifying expenditures are incurred, the liability is being reduced on a proportionate basis and income is being recognized on the statement of operations and comprehensive loss. Since the closing of the financing and to the end of 2017, based on qualifying expenditures incurred, $5.4 million was recognized through other income on the consolidated statement of operations and comprehensive loss. In December 2017, the Company issued 200,000 flow-through common shares at a price of $16.72 per flow-through share for aggregate gross proceeds of $3.3 million. The Company committed to renounce its ability to deduct qualifying exploration expenditures for the equivalent value of the gross proceeds of the flow-through financing and transfer the deductibility to the purchasers of the flow-through shares. The effective date of the renouncement was December 31, 2017. At the time of issuance of the flow-through shares, a $0.6 million premium was recognized as a liability on the statement of financial position with the balance recorded as share capital. b) Acquisitions – shares, warrants and options issuances In June 2017, the Company acquired all of the issued and outstanding shares of Snowstorm Exploration LLC. in exchange for the issuance of 700,000 common shares and 500,000 common share purchase warrants exercisable for four years at $15.65 per share. In addition, Seabridge has agreed to pay the vendor (i) a conditional cash payment of US$2.5 million if exploration activities at Snowstorm result in defining a minimum of five million ounces of gold resources compliant with National Instrument 43-101; and (ii) a further cash payment of US$5.0 million on the delineation of an additional five million ounces of gold resources. The Company also incurred $1.0 million of acquisition costs. The fair value of the total consideration at the closing date of the acquisition and additional costs totaling $14.3 million has been allocated to the fair value of the assets acquired. All financial assets acquired and financial liabilities assumed were recorded at fair value. The fair value of the common share purchase warrants was estimated on the date of acquisition using a Black Scholes option pricing model with the following assumptions: dividend yield 0%; expected volatility 62%, risk-free rate of return 0.87%; and expected life of four years. Assets acquired ($000s) Current assets 2 Mineral interests 13,988 Reclamation deposits 337 14,327 Consideration paid (000s) Share issuance 10,073 Warrants 3,275 Acquisition costs 979 14,327 In 2016, the Company acquired all of the issued and outstanding common shares of SnipGold by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia). Pursuant to the arrangement agreement, holders of SnipGold common shares received 1/63rd of a common share of the Company in exchange for 1 SnipGold common share held. 695,277 common shares of the Company were issued to existing SnipGold shareholders. The Company also issued 54,968 stock options and 1,587 warrants to existing SnipGold holders of similar securities. The fair value of the shares, stock options and warrants was $13.1 million. The Company also incurred $1.7 million of acquisition costs. The total purchase price of $14.8 million has been allocated to the assets acquired and the liabilities assumed based on the fair value of the total consideration at the closing date of the acquisition. All financial assets acquired and financial liabilities assumed were recorded at fair value. Assets acquired and liabilities assumed ($000s) Current assets 566 Mineral interests 16,441 Current liabilities (8) Provision for reclamation liabilities (2,224) 14,775 Consideration paid ($000s) Share issuance 12,452 Options and warrants 619 Acquisition costs 1,704 14,775 c) Stock options and Restricted share units The Company provides compensation to directors and employees in the form of stock options and a Restricted Share Units (“RSU”s). Pursuant to the Share Option Plan, the Board of Directors has the authority to grant options, and to establish the exercise price and life of the option at the time each option is granted, at a price not less than the closing price of the common shares on the Toronto Stock Exchange on the date of the grant of such option and for a period not exceeding five years. All exercised options are settled in equity. Pursuant to the Company’s RSU Plan, the Board of Directors has the authority to grant RSUs, and to establish terms of the RSUs including the vesting criteria and the life of the RSU. The life of the RSU is not to exceed two years. Stock option and RSU transactions were as follows: Options RSUs Total Weighted Average Exercise Price ($) Amortized Value of options ($000s) Amortized Value of RSUs ($000s) Stock-based Compensation ($000s) Outstanding January 1, 2017 3,701,595 11.76 14,653 125,500 98 14,751 Granted 605,000 13.14 - 65,000 136 136 Exercised option or vested RSU (190,984) 11.87 (752) (62,750) (656) (1,408) Expired (497,102) 16.47 (4,312) - - (4,312) Amortized value of stock based compensation granted in prior years - - 6,169 - 1,213 7,382 Outstanding December 31, 2017 3,618,509 11.34 15,758 127,750 791 16,549 Exercisable at December 31, 2017 1,721,287 Options RSUs Total Weighted Average Exercise Price ($) Amortized Value of options ($000s) Amortized Value of RSUs ($000s) Stock-based Compensation ($000s) Outstanding January 1, 2016 3,585,000 14.15 21,602 183,250 989 22,591 Granted 1,145,801 12.04 1,873 125,500 98 1,971 Exercised option or vested RSU (303,644) 10.68 (1,273) (183,250) (1,835) (3,108) Expired (725,562) 24.41 (9,021) - - (9,021) Amortized value of stock based compensation granted in prior years - - 1,472 - 846 2,318 Outstanding December 31, 2016 3,701,595 11.76 14,653 125,500 98 14,751 Exercisable at December 31, 2016 2,115,762 The outstanding share options at December 31, 2017 expire at various dates between March 2018 and December 2022. A summary of options outstanding, their remaining life and exercise prices as at December 31, 2017 is as follows: Options Outstanding Options Exercisable Exercise price Number Remaining Number outstanding contractual life Exercisable $12.60 530,000 2 months 530,000 $12.61 100,000 6 months 100,000 $8.00 50,000 1 years 50,000 $10.36 400,000 1 years 3 months 400,000 $9.72 50,000 1 years 6 months 50,000 $9.00 425,000 2 years 4 months - $11.13 350,000 3 years 360,000 $13.52 100,000 3 years 66,666 $17.16 50,000 3 year 5 months 16,667 $17.14 50,000 3 year 8 months - $10.45 865,833 4 years 105,278 $13.14 605,000 5 year - $6.30 42,676 1 year 1 month to 3 years 3 months 42,676 3,618,509 1,721,287 In December 2017, 605,000 five-year options with an exercise price of $13.14, to purchase common shares of the Company, with a fair value, at the date of the grant, of $4.1 million, were granted to members of the Board of Directors and management. Of these, 300,000 options were granted to board members and are subject to shareholder approval at which time the fair value will be re-estimated. Vesting of these options is subject to the Company entering into a major transaction on one of the Company’s two core assets or other transformative transaction. The remaining 305,000 options were granted members of management and vest over a three year period. The fair value of these options is being amortized over the service life of the options. In March 2016, 100,000 five-year options, with an exercise price of $13.52 and in August 2016, 50,000 options, with an exercise price of $17.14, to purchase common shares of the Company were granted to a members of management. The options had a fair value, at the grant date, of $0.7 million and $0.4 million respectively and vest over a two-year period. In May 2016, 50,000 five-year options, with an exercise price of $17.16, to purchase common shares of the Company were granted to a new director of the Company. The options had a fair value of $0.5 million and vest upon the Company entering into a major transaction on one of the Company’s two core assets or other transformative transaction. In December 2016, 890,833 five-year options with an exercise price of $10.45, to purchase common shares of the Company, with a fair value, at the date of the grant, of $4.9 million, were granted to members of the Board of Directors and management. The 575,000 options granted to board members were subject to shareholder approval which was obtained on June 27, 2017 at which time the fair value was re-estimated. Vesting of these options is subject to the Company entering into a major transaction on one of the Company’s two core assets or other transformative transaction. The remaining 315,833 options were granted members of management and vest over a three year period. The fair value of these options is being amortized over the service life of the options. Also in 2016, in conjunction with the acquisition of SnipGold, 54,968 stock options and 1,587 warrants with a combined fair value, at the date of the grant, of $0.6 million and has been included in the costs of the net assets acquired. The fair value of the options granted is estimated on the dates of grant using a Black Scholes option-pricing model with the following assumptions: 2017 2016 Dividend yield Nil Nil Expected volatility 59-62% 44-73% Risk-free rate of return 1.2-1.7% 0.5-1.2% Expected life of options 4.5 - 5 years 2 months-5 years In 2016, the Board granted 125,500 RSUs to members of management. The fair value of the grants, of $1.3 million, was estimated as at the grant date and is being amortized over the expected service period of the grants. The expected service periods vary from three to eleven months from the date of the grant depending on certain corporate objectives being met. In 2016, 183,250 RSUs vested and were exchanged for common shares of the Company. Subsequent to December 31, 2016, 61,250 RSUs, of the 125,500 RSUs outstanding at the time, vested and were exchanged for common shares of the Company. Subsequent to December 31, 2017, 530,200 options were exercised for proceeds of $6.7 million and 65,000 RSUs vested. In total, 595,200 common shares were issued. d) Basic and diluted net loss per common shares For the years ended December 31, 2017 and 2016 basic and diluted net loss per common share are computed by dividing the net loss for the period by the weighted average number of common shares outstanding for the period. The potential effect of stock options, RSUs and warrants has been excluded from the calculation of diluted loss per common share as the effect would be anti-dilutive. At December 31, 2017 there was a total of 3,618,509 stock options and 127,750 RSUs outstanding (December 31, 2016 – 3,828,682 and 125,500 respectively).

11. Fair Value of Financial Ass

11. Fair Value of Financial Assets and Liabilities	12 Months Ended
11. Fair Value of Financial Assets and Liabilities	Dec. 31, 2017
Fair Value Of Financial Assets And Liabilities
Fair Value of Financial Assets and Liabilities	Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value. Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs are quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability (for example, interest rate and yield curves observable at commonly quoted intervals, forward pricing curves used to value currency and commodity contracts, volatility measurements used to value option contracts and observable credit default swap spreads to adjust for credit risk where appropriate), or inputs that are derived principally from or corroborated by observable market data or other means. Level 3: Inputs are unobservable (supported by little or no market activity). The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. The Company’s financial assets and liabilities as at December 31, 2017 and December 31, 2016 are cash and cash equivalents, short-term deposits, amounts receivable, available-for-sale investments, and accounts payable and accrued liabilities. Other than investments, the carrying values approximate their fair values due to the immediate or short-term maturity of these financial instruments. The Company’s available-for-sale investments are measured at fair value based on quoted market prices and are classified as a level 1 measurement. The Company's financial risk exposures and the impact on the Company's financial instruments are summarized below: Credit Risk The Company's credit risk is primarily attributable to short-term deposits, and receivables included in amounts receivable and prepaid expenses. The Company has no significant concentration of credit risk arising from operations. Short-term deposits consist of Canadian Schedule I bank guaranteed notes, with terms up to one year but are cashable in whole or in part with interest at any time to maturity, for which management believes the risk of loss to be remote. Management believes that the risk of loss with respect to financial instruments included in amounts receivable and prepaid expenses to be remote. Liquidity Risk The Company's approach to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when due. As at December 31, 2017, the Company had a cash and cash equivalents of $4 million and short-term deposits of $12.1 million (2016 - $1.6 million and $6.1 million, respectively) for settlement of current financial liabilities of $4 million (2016 - $5.7 million). In addition, as at December 31, 2017, the Company had commitments of $9.3 million required to be paid in 2018, including $0.7 million to maintain its mineral property claims in good standing. If required, the Company will seek additional sources of cash, in 2018 to cover its proposed exploration and development programs at its key projects, in the form of equity financings and from the sale of non-core assets. The short-term deposits consist of Canadian Schedule I bank guaranteed deposits and are cashable in whole or in part with interest at any time to maturity The Company's financial liabilities primarily have contractual maturities of 30 days and are subject to normal trade terms. The Company’s ability to fund its operations and capital expenditures and other obligations as they become due is dependent upon market conditions. Market Risk (a) Interest Rate Risk The Company has no interest-bearing debt. The Company's current policy is to invest excess cash in Canadian bank guaranteed notes (short-term deposits). The short-term deposits can be cashed in at any time and can be reinvested if interest rates rise. (b) Foreign Currency Risk The Company's functional currency is the Canadian dollar and major purchases are transacted in Canadian and US dollars. The Company funds certain operations, exploration and administrative expenses in the United States on a cash call basis using US dollar currency converted from its Canadian dollar bank accounts held in Canada. Management believes the foreign exchange risk derived from currency conversions is not significant to its operations and therefore does not hedge its foreign exchange risk. As at December 31, 2017 the Company had no foreign currency denominated financial instruments. (c) Investment Risk The Company has investments in other publicly listed exploration companies which are included in investments. These shares were received as option payments on certain exploration properties the Company owns. In addition, the Company holds units of a gold exchange traded receipt that is recorded on the statement of financial position in investments. The risk on these investments is significant due to the nature of the investment.

12. Corporate and Administrativ

12. Corporate and Administrative Expenses	12 Months Ended
12. Corporate and Administrative Expenses	Dec. 31, 2017
Corporate And Administrative Expenses
Corporate and Administrative Expenses	($000s) 2017 2016 Employee compensation 3,423 3,344 Stock-based compensation 7,518 3,670 Professional fees 872 929 Other general and administrative 1,860 1,736 13,673 9,679

13. Related Party Disclosures

13. Related Party Disclosures	12 Months Ended
13. Related Party Disclosures	Dec. 31, 2017
Related Party Disclosures
Related Party Disclosures	Compensation to key management personnel of the Company: ($000s) 2017 2016 Compensation of directors: Directors fees 329 369 Services - 71 Stock-based compensation 1,024 693 1,353 1,133 Compensation of key management personnel: Salaries and consulting fees 3,712 3,398 Stock-based compensation 4,817 2,838 8,529 6,236 Total remuneration of key management personnel 9,882 7,369 During 2017, other than compensation paid to key management personnel, a private company controlled by an officer was paid $200,400 (2016 -$192,600) for legal services rendered. During the year ended December 31, 2016, a private company previously controlled by a director of the Company was paid $71,000 for technical services provided by the company. These transactions were in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties.

14. Income Taxes

14. Income Taxes	12 Months Ended
14. Income Taxes	Dec. 31, 2017
Income Taxes
Income Taxes	$000s) 2017 2016 Current tax expense 252 - Deferred tax expense 1,912 2,977 2,164 2,977 Tax recovery recognized directly in equity ($000's) 2017 2016 Financing costs 709 420 In 2017, the Company recognized income tax expense of $2.2 million (2016 - $3.0 million) primarily related to a deferred tax expense arising due to the renouncement of expenditures related to 2016 and 2017 flow-through shares which are capitalized for accounting purposes, offset by a deferred tax recovery arising from the losses in the current year. (a) Rate Reconciliation The provision for income taxes differs from the amount that would have resulted by applying the combined Canadian Federal, Ontario, British Columbia and Northwest Territories statutory income tax rates of 26.29% (2016 - %26.33). ($000s) 2017 2016 Loss before income taxes (8,123) (4,315) 26.29% 26.33% Tax recovery calculated using statutory rates (2,136) (1,136) Non-deductible items 568 (170) Difference in foreign tax rates 35 47 Rate differential 736 21 Tax benefits not recognized (1,437) (1,141) Impact of true-up of prior year balances - 311 Impact of current year renouncements 4,429 5,027 Other (31) 17 Income tax expense 2,164 2,977 (b) Deferred Income Tax The following table summarizes the components of deferred income tax. Deferred tax assets Property and equipment 65 64 Provision for reclamation liabilities 69 339 Financing costs 991 667 Non-capital loss carryforwards 19,532 15,731 Deferred tax liabilities Mineral interests (39,254) (34,196) (18,598) (17,395) (c) Unrecognized Deferred Tax Assets Deferred income tax assets have not been recognized in respect of the following tax effected deductible temporary differences. Investment in subsidiaries 5,534 5,029 Marketable securities 276 624 Loss carry forwards 974 2,108 Investment tax credit 1,481 1,481 Foreign Tax Credit 268 16 Mineral Properties 203 435 The tax losses not recognized expire as per the amount and years noted below. The deductible temporary differences do not expire under the current tax legislation. Deferred tax assets have not been recognized in respect of these items because it is not probable that future taxable profit would be available against which the Company can utilize the benefits therefrom. (d) Income Tax Attributes As at December 31, 2017, the Company had the following income tax attributes to carry forward. Canadian non-capital losses 74,608 2037 Canadian capital losses 1,742 Indefinite Canadian tax basis of mineral interest 182,057 Indefinite US non-capital losses 237 2037 US capital losses 1,192 2022 US tax basis of mineral interest 1,564 Indefinite

15. Commitments

15. Commitments	12 Months Ended
15. Commitments	Dec. 31, 2017
Commitments
Commitments	($000s) Payments due by years Total 2018 2019-20 2021-22 2023-24 Mineral interests 4,996 687 982 1,075 2,253 Flow-through share expenditures 8,496 8,496 - - - Business premises operating lease 720 144 288 288 - 14,212 9,327 1,270 1,363 2,253

3. Significant Accounting Pol21

3. Significant Accounting Policies (Policies)	12 Months Ended
3. Significant Accounting Policies (Policies)	Dec. 31, 2017
Significant Accounting Policies Policies
Basis of measurement	The consolidated financial statements have been prepared on the historical cost basis, except for available-for-sale financial instruments, which are measured at fair value.
Basis of consolidation - subsidiaries	Subsidiaries are entities over which the Company has control. Control over an entity exists when the Company is exposed or has rights to returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date on which control ceases. Business acquisitions are accounted for using the acquisition method whereby acquired assets and liabilities are recorded at fair value as of the date of acquisition with the excess of the purchase consideration over such fair value being recorded as goodwill and allocated to cash generating units. Non-controlling interest in an acquisition may be measured at either fair value or at the non-controlling interest’s proportionate share of the fair value of the acquiree’s net identifiable assets. If the fair value of the net assets acquired exceeds the purchase consideration, the difference is recognized immediately as a gain in the consolidated statement of operations and comprehensive loss. Where a business combination is achieved in stages, previously held equity interests in the acquiree are re-measured at acquisition-date fair value and any resulting gain or loss is recognized in the consolidated statement of operations and comprehensive loss. Acquisition related costs are expensed during the period in which they are incurred, except for the cost of debt or equity instruments issued in relation to the acquisition which is included in the carrying amount of the related instrument. Certain fair values may be estimated at the acquisition date pending confirmation or completion of the valuation process. Where provisional values are used in accounting for a business combination, they may be adjusted retrospectively in subsequent periods. However, the measurement period will not exceed one year from the acquisition date.
Associates	An associate is an entity over which the Company has significant influence but not control and one that is neither a subsidiary nor an interest in a joint arrangement. Significant influence is presumed to exist where the Company has between 20% and 50% of the voting rights, but can also arise where the Company has less than 20% if influence is exerted over policy decisions that affect the entity. The Company’s share of the net assets and net income or loss of associates is accounted for in the consolidated financial statements using the equity method of accounting.
Translation of foreign currencies	These consolidated financial statements are presented in Canadian dollars, which is the Company’s, and each of its subsidiary’s, functional currency. Foreign currency transactions are translated into Canadian dollars using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses are recognized in the consolidated statement of operations and comprehensive loss. Monetary assets and liabilities of the Company denominated in a foreign currency are translated into Canadian dollars at the rate of exchange at the statement of financial position date. Non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at average exchange rates prevailing during the period. Exchange gains and losses are included in the determination of profit or loss for the year.
Critical accounting judgments and estimation uncertainty	In applying the Company’s accounting policies in conformity with IFRS, management is required to make judgments, estimates and assumptions about the carrying amounts of certain assets and liabilities. These estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. (i) Critical accounting judgments The following are the critical judgments, that the Company has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements (refer to appropriate accounting policies for details). (a) Mineral reserves and resources To calculate reserves and resources, the Company uses assumptions and evaluates technical, economic and geological conditions for each ore body. Measured grade of the ore and geotechnical considerations can have a significant effect on the carrying value of mineral properties and therefore the recoverability of costs. Future market prices for gold and copper and other commodities are also factored into valuation models. Changes to these factors can affect the recoverability of mineral properties and impairment thereto. (b) Impairment of assets When the Company has judged that an indication of impairment exists such as a significant or prolonged decline in the fair value of an available-for-sale investment or mineral interests, the investment or carrying value is written down to fair value and the loss is recognized in the statement of operations and comprehensive loss. (c) Asset retirement obligations When the Company has judged that a constructive or legal obligation exists for reclamation and rehabilitation activities on mineral claims disturbed through exploration or historical mining activities, an estimate of future costs is recognized as an expense on the statement of operations and comprehensive loss. (ii) Key sources of estimation uncertainty (a) Mineral properties The recoverability of the carrying value of mineral properties and associated deferred exploration expenses is based on market conditions for minerals, underlying mineral resources associated with the properties and future costs that may be required for ultimate realization through mining operations or by sale. The Company is in an industry that is dependent on a number of factors including environmental, legal and political risks, the existence of economically recoverable reserves, the ability of the Company and its subsidiaries to obtain necessary financing to complete the development, and future profitable production or the proceeds of disposition thereof. (b) Asset retirement obligations The provision for asset retirement obligations is the best estimate of the present value of the future costs of reclaiming the environment that has been subject to disturbance through exploration activities or historical mining activities. The Company uses assumptions and evaluates technical conditions for each project that have inherent uncertainties, including changes to laws and practices and to changes in the status of the site from time-to-time. The timing and cost of the rehabilitation is also subject to uncertainty. These changes, if any, are recorded on the statement of financial position as incurred. (c) Share based payments The factors affecting stock-based compensation include estimates of when stock options and restricted share units might be exercised and share price volatility. The timing for exercise of options is out of the Company’s control and will depend upon a variety of factors, including the market value of the Company’s shares and financial objectives of the share-based instrument holders. The Company uses historical data to determine volatility in accordance with appropriate fair value methodology. However, the future volatility is uncertain and the model has its limitations. (d) Deferred Income taxes The Company has operations in Canada and the United States and files corporate tax returns in each. Deferred tax liabilities are estimated for tax that may become payable in the future. Future payments could be materially different from our estimated deferred tax liabilities. We have deferred tax assets related to non-capital losses and other deductible temporary differences. Deferred tax assets are only recognized when it is probable that there will be sufficient taxable income in the future to recover them.
Cash and cash equivalents and short-term deposits	Cash and cash equivalents and short-term deposits consist of balances with banks and investments in money market instruments. These instruments are carried at fair value through profit or loss. Cash and cash equivalents consist of investments with maturities of up to 90 days at the date of purchase. Short-term deposits consist of investments with maturities from 91 days to one year at the date of purchase.
Investments	Investments in marketable securities accounted for as available-for-sale securities are recorded at fair value. The fair values of the investments are determined based on the closing prices reported on recognized securities exchanges and over-the-counter markets. Such individual market values do not necessarily represent the realizable value of the total holding of any security, which may be more or less than that indicated by market quotations. Increases or decreases in the market value of investments are recorded in other comprehensive income net of related income taxes. When there has been a loss in the value of an investment in marketable securities that is determined to be significant or prolonged, the investment is written down and the loss is recorded in the statement of operations and comprehensive loss.
Mineral interests	Mineral resource properties are carried at cost. The Company considers exploration and development costs and expenditures to have the characteristics of property and equipment and, as such, the Company capitalizes all exploration costs, which include license acquisition costs, advance royalties, holding costs, field exploration and field supervisory costs and all costs associated with exploration and evaluation activities relating to specific properties as incurred, until those properties are determined to be economically viable for mineral production. General and administrative costs are only included in the measurement of exploration and evaluation costs where they are related directly to activities in a particular area of interest. The fair value of any recoveries from the disposition or optioning of a mineral property is credited to the carrying value of mineral properties. Once a project has been established as commercially viable and technically feasible, related development expenditures are capitalized. This includes costs incurred in preparing the site for mining operations. Capitalization ceases when the mine is capable of commercial operations. The actual recovery value of capitalized expenditures for mineral properties and deferred exploration costs will be contingent upon the discovery of economically viable reserves and the Company’s financial ability at that time to fully exploit these properties or determine a suitable plan of disposition. When a decision is made to proceed with development in respect of a particular area of interest, the relevant exploration and evaluation asset is tested for impairment, reclassified to development properties, and then amortized over the life of the reserves associated with the area of interest once mining operations have commenced.
Property and equipment	Property and equipment are stated at cost, less accumulated depreciation and accumulated impairment losses. The cost of property and equipment comprises its purchase price, any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management and the estimated closure and restoration costs associated with the asset. Depreciation is provided using the straight-line method at an annual rate of 20% from the date of acquisition. Residual values and useful lives are reviewed, and adjusted if appropriate, at each statement of financial position date. Changes to the estimated residual values or useful lives are accounted for prospectively.
Impairment of non-financial assets	The carrying value of the Company's mineral interests is assessed for impairment when indicators of such impairment exist. If any indication of impairment exists, an estimate of the asset's recoverable amount is calculated to determine the extent of the impairment loss, if any. The recoverable amount is determined as the higher of the fair value less costs to sell for the asset and the asset's value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Impairment is determined on an asset by asset basis, whenever possible. If it is not possible to determine impairment on an individual asset basis, then impairment is considered on the basis of a cash generating unit (“CGU”). CGUs represent the lowest level for which there are separately identifiable cash inflows that are largely independent of the cash flows from other assets or other group of assets. If the carrying amount of the asset exceeds its recoverable amount, the asset is impaired and an impairment loss is charged immediately to comprehensive loss within the statement of operations and comprehensive loss so as to reduce the carrying amount to its recoverable amount. An assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such indication exists, the Company makes an estimate of the recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset's recoverable amount since the last impairment loss was recognized. If this is the case, the carrying amount of the asset is increased to its recoverable amount. The increased amount cannot exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the statement of operations and comprehensive loss.
Reclamation liabilities	Provisions for environmental restoration are recognized when: (i) the Company has a present legal or constructive obligation as a result of past exploration, development or production events; (ii) it is probable that an outflow of resources will be required to settle the obligation; (iii) and the amount can be reliably estimated. Provisions do not include any additional obligations which are expected to arise from future disturbance. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation incorporating risks specific to the obligation using a pre-tax rate that reflects current market assessments of the time value of money. When estimates of obligations are revised, the present value of the changes in obligations is recorded in the period by a change in the obligation amount and a corresponding adjustment to the mineral interest asset. The amortization or ‘unwinding’ of the discount applied in establishing the net present value of provisions due to the passage of time is charged to the statement of operations and comprehensive loss in each accounting period. The ultimate cost of environmental remediation is uncertain and cost estimates can vary in response to many factors including changes to the relevant legal requirements, the emergence of new restoration techniques or experience at other mine sites. The expected timing of expenditure can also change, for example in response to changes in ore reserves or production rates. As a result there could be significant adjustments to the provisions for restoration and environmental cleanup, which would affect future financial results. Funds on deposit with third parties provided as security for future reclamation costs are included in reclamation deposits on the statement of financial position.
Income taxes	Income tax expense comprises current and deferred tax. Current and deferred tax are recognized in profit or loss except to the extent that it relates to a business combination or items recognized directly in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized using the asset and liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is measured at the rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantially enacted by the reporting date. Deferred tax is not recognized for the following temporary differences; the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill which is not deductible for tax purposes. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. The Company has certain non-monetary assets and liabilities for which the tax reporting currency is different from its functional currency. Any translation gains or losses on the remeasurement of these items at current exchange rates versus historic exchange rates that give rise to a temporary difference is recorded as a deferred tax asset or liability.
Stock-based compensation (options and restricted share units)	The Company applies the fair value method for stock-based compensation and other stock-based payments. The fair value of options is valued using the Black Scholes option-pricing model and other models for the two-tiered options and restricted share units as may be appropriate. The grant date fair value of stock-based payment awards granted to employees is recognized as an employee expense, with a corresponding increase in equity, over the period that the employees unconditionally become entitled to the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date (Note 10). The Company reviews estimated forfeitures of options on an ongoing basis.
Flow-through shares	The Company finances a portion of its exploration activities through the issuance of flow-through common shares. The tax deductibility of qualifying expenditures is transferred to the investor purchasing the shares. Consideration for the transferred deductibility of the qualifying expenditures is often paid through a premium price over the market price of the Company’s shares. The Company reports this premium as a liability on the statement of financial position and the balance is reported as share capital. At each reporting period, and as qualifying expenditures have been incurred, the liability is reduced on a proportionate basis and income is recognized in the statement of operations and comprehensive loss.
Net profit (loss) per common share	Basic profit (loss) per common share is computed based on the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method for calculating diluted earnings per share which assumes that stock options and RSUs with an exercise price lower than the average quoted market price were exercised at the later of the beginning of the year, or time of issue. Stock options with an exercise price greater than the average quoted market price of the common shares and RSUs are not included in the calculation of diluted profit per share as the effect is anti-dilutive.
Financial assets and liabilities	Financial assets within the scope of IAS 39 are classified as either financial assets at fair value through profit or loss, loans and receivables, held-to-maturity investments or available-for-sale financial assets, as appropriate. When financial assets are recognized initially, they are measured at fair value, plus, in the case of financial assets not at fair value through profit or loss, directly attributable transaction costs. The Company determines the classification of its financial assets at initial recognition and, where allowed and appropriate, re-evaluates this designation at each financial year-end. The Company’s financial instruments are comprised of the following: Financial assets: Classification: Cash and cash equivalents Fair value through profit or loss Short-term deposits Fair value through profit or loss Amounts receivable Loans and receivables Investments Available-for-sale Financial liabilities: Classification: Accounts payable and other liabilities Other financial liabilities (i) Financial assets at fair value through profit or loss: Financial assets at fair value through profit or loss include financial assets held for trading and financial assets designated upon initial recognition as fair value through profit or loss. (ii) Loans and receivables: Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market, do not qualify as trading assets and have not been designated as either fair value through profit or loss or available for sale. After initial measurement, loans and receivables are subsequently measured at amortized cost using the effective interest method less any allowance for impairment. Amortized cost is calculated taking into account any discount or premium on acquisition and includes fees that are an integral part of the effective interest rate and transaction costs. Gains and losses are recognized in the consolidated statement of operations and comprehensive loss when the loans and receivables are derecognized or impaired, as well as through the amortization process. (iii) Available-for-sale investments: Financial assets classified as available-for-sale are measured at fair value, with changes in fair values recognized in other comprehensive income, except when there is objective evidence that the asset is impaired, at which point the cumulative loss that had been previously recognized in other comprehensive income is recognized within the consolidated statement of operations and comprehensive loss. (iv) Fair value: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value. (v) Impairment of financial assets: Financial assets are assessed for indicators of impairment at each financial reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the instrument have been impacted. Evidence of impairment could include: · significant financial difficulty of the issuer or counterparty; or · default or delinquency in interest or principal payments; or · it becoming probable that the borrower will enter bankruptcy or financial re-organization. The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of amounts receivable, where the carrying amount is reduced through the use of an allowance account. When an amount receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognized in profit or loss. If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment reversed does not exceed what the amortized cost would have been had the impairment not been recognized. In the case of an impairment loss reversal being recorded for available-for-sale marketable securities, the reversal is recorded in other comprehensive income.
New accounting standards	On January 19, 2016, the IASB issued Recognition of Deferred Tax Assets for Unrealized Losses (Amendments to IAS 12). The amendments apply retrospectively for annual periods beginning on or after January 1, 2017 and have been implemented as of that date. The amendments clarify that the existence of a deductible temporary difference depends only on a comparison of the carrying value of an asset and its tax base at the end of the reporting period. It is not affected by possible future changes in the carrying value or expected recovery of the asset. The amendments also clarify the methodology to be used to determine future taxable profits while assessing the utilization of deductible temporary differences. The implementation of this amendment did not have a material impact on the Company’s financial statements.
New accounting standards not yet adopted	New standards and amendments to standards that have been issued and that are relevant to the Company and are not yet effective and have therefore not been applied in preparing these consolidated financial statements are: IFRS 9, Financial instruments (“IFRS 9”) introduces new requirements for classification and measurement of financial assets, additional changes to financial liabilities and a new general hedge accounting standard. The mandatory effective date is for annual periods beginning on or after January 1, 2018. The Company will apply IFRS 9 on the effective date. The Company expects to record a reclassification, within shareholders’ equity, reducing deficit and increasing accumulated other comprehensive income by $2.3 million related to the accumulated impairments recorded on investments it held at December 31, 2017. The Company expects the revised approach to hedge accounting to have no effect on the financial statements. IFRS 15, Revenue from contracts with customers (“IFRS 15”) will replace IAS 18 Revenue, IAS 11 Construction contracts, and some revenue-related interpretations. The new standard is effective for annual periods beginning on or after January 1, 2018. The standard contains a single model that applies to contracts with customers and two approaches to recognizing revenue at either a point in time or over time. The model features a five-step analysis of transactions to determine when and how much revenue should be recognized. New estimates and judgmental thresholds were introduced, which may affect the amount and/or timing of revenue recognized. The Company has evaluated the impact of the adoption of IFRS 15 and does not expect its adoption will have a material impact on the financial statements. IFRS 16, Leases (“IFRS 16”) will replace IAS 17 Leases. The new standard requires lessees to recognize assets and liabilities for most leases. Application of the standard is mandatory for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted, provided the new revenue standard, IFRS 15 has been applied or is applied at the same date as IFRS 16. The Company plans to apply IFRS 16 on the effective date. The Company is currently evaluating the impact of the changes to its financial statements based on the characteristics of any leases in place before the effective date expects to report additional details on the anticipated impact, if any, in subsequent periods. IFRS 2, Share-based payments amendments (“Amendments to IFRS 2”). The Amendments to IFRS 2 clarify the classification and measurement of share-based payments for cash-settled share-based payment transactions or for share-based payment transactions with net settlement features for withholding tax obligations or for any modifications to the terms and conditions of a share-based payment transaction that changes its classification from cash-settled to equity-settled. The effective date of the amendments is January 1, 2018 and the Company intends to adopt the amendments on the effective date. The Company does not expect the amendments to have a material impact on the financial statements based on current stock-based payment practices.

4. Cash and Cash Equivalents 22

4. Cash and Cash Equivalents and Short-term Deposits (Tables)	12 Months Ended
	Dec. 31, 2017
Cash And Cash Equivalents And Short-term Deposits Tables
Cash and cash equivalents	($000s) December 31, 2017 December 31, 2016 Cash and cash equivalents 4,049 1,646 Short-term deposits 12,056 6,120 16,105 7,766

5. Amounts Receivable and Pre23

5. Amounts Receivable and Prepaid Expenses (Tables)	12 Months Ended
5. Amounts Receivable and Prepaid Expenses (Tables)	Dec. 31, 2017
Amounts Receivable And Prepaid Expenses Tables
Amounts receivable and prepaid expenses	($000s) December 31, 2017 December 31, 2016 HST 265 250 Prepaid expenses and other receivables 357 387 622 637

6. Investments (Tables)

6. Investments (Tables)	12 Months Ended
6. Investments (Tables)	Dec. 31, 2017
Investments Tables
Investments	($000s) January 1, 2017 Dispositions Gain on disposition Loss of associates Impairment Additions Other comprehensive loss December 31, 2017 Available-for-sale investments 2,765 (1,426 ) 718 — (680 ) 2,154 (98 ) 3,433 Investment in associate 1,896 — — (106 ) — 1,638 — 3,428 4,661 (1,426 ) 718 (106 ) (680 ) 3,792 (98 ) 6,861 ($000s) January 1, 2016 Dispositions Gain on disposition Gain of associates Impairment Additions Other comprehensive income December 31, 2016 Available-for-sale investments 2,731 (700 ) 278 — — — 456 2,765 Investment in associate 1,308 — — 588 — — — 1,896 4,039 (700 ) 278 588 — — 456 4,661

7. Mineral Interests (Tables)

7. Mineral Interests (Tables)	12 Months Ended
7. Mineral Interests (Tables)	Dec. 31, 2017
Mineral Interests Tables
Mineral interest expenditures	($000s) Balance, Expenditures / Acquisitions Recoveries Balance, January 1, 2017 2017 2017 December 31, 2017 KSM 233,662 14,899 — 248,561 Courageous Lake 68,702 885 — 69,587 Iskut 19,795 7,311 (1,885 ) 25,221 Snowstorm — 13,995 — 13,995 Grassy Mountain 771 — — 771 322,930 37,090 (1,885 ) 358,135 ($000s) Balance, Expenditures / Acquisitions Recoveries Balance, January 1, 2016 2016 2016 December 31, 2016 KSM 209,929 23,733 — 233,662 Courageous Lake 68,098 604 — 68,702 Iskut — 19,795 — 19,795 Grassy Mountain 771 — — 771 278,798 44,132 — 322,930

8. Accounts Payable and Accru26

8. Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
8. Accounts Payable and Accrued Liabilities (Tables)	Dec. 31, 2017
Accounts Payable And Accrued Liabilities Tables
Accounts payable and accrued liabilities	($000s) December 31, 2017 December 31, 2016 Trade payables 1,773 1,637 Trade and other payables due to related parties 74 148 Non-trade payables and accrued expenses 2,114 3,936 3,961 5,721

9. Provision for Reclamation 27

9. Provision for Reclamation Liabilities (Tables)	12 Months Ended
9. Provision for Reclamation Liabilities (Tables)	Dec. 31, 2017
Provision For Reclamation Liabilities Tables
Reclamation liabilities	($000s) December 31, 2017 December 31, 2016 Beginning of the year 3,510 1,329 Acquisition of SnipGold (note 10) - 2,224 Derecognition of Red Mountain (1,039) - Accretion 10 19 Current year adjustment - (62) End of the year 2,481 3,510

10. Shareholders_ Equity (Table

10. Shareholders’ Equity (Tables)	12 Months Ended
10. Shareholders’ Equity (Tables)	Dec. 31, 2017
Shareholders Equity Tables
Acquisition	Snowstorm Exploration LLC Assets acquired ($000s) Current assets 2 Mineral interests 13,988 Reclamation deposits 337 14,327 Consideration paid (000s) Share issuance 10,073 Warrants 3,275 Acquisition costs 979 14,327 SnipGold Assets acquired and liabilities assumed ($000s) Current assets 566 Mineral interests 16,441 Current liabilities (8) Provision for reclamation liabilities (2,224) 14,775 Consideration paid ($000s) Share issuance 12,452 Options and warrants 619 Acquisition costs 1,704 14,775
Stock option and RSU transactions	Options RSUs Total Weighted Average Exercise Price ($) Amortized Value of options ($000s) Amortized Value of RSUs ($000s) Stock-based Compensation ($000s) Outstanding January 1, 2017 3,701,595 11.76 14,653 125,500 98 14,751 Granted 605,000 13.14 - 65,000 136 136 Exercised option or vested RSU (190,984) 11.87 (752) (62,750) (656) (1,408) Expired (497,102) 16.47 (4,312) - - (4,312) Amortized value of stock based compensation granted in prior years - - 6,169 - 1,213 7,382 Outstanding December 31, 2017 3,618,509 11.34 15,758 127,750 791 16,549 Exercisable at December 31, 2017 1,721,287 Options RSUs Total Weighted Average Exercise Price ($) Amortized Value of options ($000s) Amortized Value of RSUs ($000s) Stock-based Compensation ($000s) Outstanding January 1, 2016 3,585,000 14.15 21,602 183,250 989 22,591 Granted 1,145,801 12.04 1,873 125,500 98 1,971 Exercised option or vested RSU (303,644) 10.68 (1,273) (183,250) (1,835) (3,108) Expired (725,562) 24.41 (9,021) - - (9,021) Amortized value of stock based compensation granted in prior years - - 1,472 - 846 2,318 Outstanding December 31, 2016 3,701,595 11.76 14,653 125,500 98 14,751 Exercisable at December 31, 2016 2,115,762
Options outstanding	Options Outstanding Options Exercisable Exercise price Number Remaining Number outstanding contractual life Exercisable $12.60 530,000 2 months 530,000 $12.61 100,000 6 months 100,000 $8.00 50,000 1 years 50,000 $10.36 400,000 1 years 3 months 400,000 $9.72 50,000 1 years 6 months 50,000 $9.00 425,000 2 years 4 months - $11.13 350,000 3 years 360,000 $13.52 100,000 3 years 66,666 $17.16 50,000 3 year 5 months 16,667 $17.14 50,000 3 year 8 months - $10.45 865,833 4 years 105,278 $13.14 605,000 5 year - $6.30 42,676 1 year 1 month to 3 years 3 months 42,676 3,618,509 1,721,287
Fair value of options granted assumptions	2017 2016 Dividend yield Nil Nil Expected volatility 59-62% 44-73% Risk-free rate of return 1.2-1.7% 0.5-1.2% Expected life of options 4.5 - 5 years 2 months-5 years

12. Corporate and Administrat29

12. Corporate and Administrative Expenses (Tables)	12 Months Ended
12. Corporate and Administrative Expenses (Tables)	Dec. 31, 2017
Corporate And Administrative Expenses Tables
Corporate and administrative expenses	($000s) 2017 2016 Employee compensation 3,423 3,344 Stock-based compensation 7,518 3,670 Professional fees 872 929 Other general and administrative 1,860 1,736 13,673 9,679

13. Related Party Disclosures (

13. Related Party Disclosures (Tables)	12 Months Ended
13. Related Party Disclosures (Tables)	Dec. 31, 2017
Related Party Disclosures Tables
Compensation to key management personnel	($000s) 2017 2016 Compensation of directors: Directors fees 329 369 Services - 71 Stock-based compensation 1,024 693 1,353 1,133 Compensation of key management personnel: Salaries and consulting fees 3,712 3,398 Stock-based compensation 4,817 2,838 8,529 6,236 Total remuneration of key management personnel 9,882 7,369

14. Income Taxes (Tables)

14. Income Taxes (Tables)	12 Months Ended
14. Income Taxes (Tables)	Dec. 31, 2017
Income Taxes Tables
Income tax expense	$000s) 2017 2016 Current tax expense 252 - Deferred tax expense 1,912 2,977 2,164 2,977 Tax recovery recognized directly in equity ($000's) 2017 2016 Financing costs 709 420
Reconciliation of the effective rate of income tax	($000s) 2017 2016 Loss before income taxes (8,123) (4,315) 26.29% 26.33% Tax recovery calculated using statutory rates (2,136) (1,136) Non-deductible items 568 (170) Difference in foreign tax rates 35 47 Rate differential 736 21 Tax benefits not recognized (1,437) (1,141) Impact of true-up of prior year balances - 311 Impact of current year renouncements 4,429 5,027 Other (31) 17 Income tax expense 2,164 2,977
Deferred income tax assets and liabilities	Deferred tax assets Property and equipment 65 64 Provision for reclamation liabilities 69 339 Financing costs 991 667 Non-capital loss carryforwards 19,532 15,731 Deferred tax liabilities Mineral interests (39,254) (34,196) (18,598) (17,395)
Unrecognized deferred tax assets	Investment in subsidiaries 5,534 5,029 Marketable securities 276 624 Loss carry forwards 974 2,108 Investment tax credit 1,481 1,481 Foreign Tax Credit 268 16 Mineral Properties 203 435
Income tax attributes	Canadian non-capital losses 74,608 2037 Canadian capital losses 1,742 Indefinite Canadian tax basis of mineral interest 182,057 Indefinite US non-capital losses 237 2037 US capital losses 1,192 2022 US tax basis of mineral interest 1,564 Indefinite

15. Commitments (Tables)

15. Commitments (Tables)	12 Months Ended
15. Commitments (Tables)	Dec. 31, 2017
Commitments Tables
Commitments	($000s) Payments due by years Total 2018 2019-20 2021-22 2023-24 Mineral interests 4,996 687 982 1,075 2,253 Flow-through share expenditures 8,496 8,496 - - - Business premises operating lease 720 144 288 288 - 14,212 9,327 1,270 1,363 2,253

4. Cash and Cash Equivalents 33

4. Cash and Cash Equivalents and Short-term Deposits (Details) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash And Cash Equivalents And Short-term Deposits Details
Cash and cash equivalents	$ 4,049	$ 1,646	$ 990
Short-term deposits	12,056	6,120
Total	$ 16,105	$ 7,766

5. Amounts Receivable and Pre34

5. Amounts Receivable and Prepaid Expenses (Details) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Amounts Receivable And Prepaid Expenses Details
HST	$ 265	$ 250
Prepaid expenses	357	387
Total	$ 622	$ 637

6. Investments (Details)

6. Investments (Details) - CAD ($) $ in Thousands	12 Months Ended
6. Investments (Details) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
DisclosureOfInvestmentsLineItems [Line Items]
Beginning balance	$ 4,661	$ 4,039
Dispositions	(1,426)	(700)
Gain on disposition	718	278
Gain (loss) of associates	(106)	588
Impairment	(680)	0
Additions	3,792	0
Other comprehensive income	(98)	456
Ending Balance	6,861	4,661
Available-for-sale investments
DisclosureOfInvestmentsLineItems [Line Items]
Beginning balance	2,765	2,731
Dispositions	(1,426)	(700)
Gain on disposition	718	278
Gain (loss) of associates	0	0
Impairment	(680)	0
Additions	2,154	0
Other comprehensive income	(98)	456
Ending Balance	3,433	2,765
Investment in associate
DisclosureOfInvestmentsLineItems [Line Items]
Beginning balance	1,896	1,308
Dispositions	0	0
Gain on disposition	0	0
Gain (loss) of associates	(106)	588
Impairment	0	0
Additions	1,638	0
Other comprehensive income	0	0
Ending Balance	$ 3,428	$ 1,896

7. Mineral Interests (Details)

7. Mineral Interests (Details) - CAD ($) $ in Thousands	12 Months Ended
7. Mineral Interests (Details) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
DisclosureOfMineralInterestTableLineItems [Line Items]
Beginning balance	$ 322,930	$ 278,798
Expenditures / Acquisitions	37,090	44,132
Recoveries	(1,885)
Ending Balance	358,135	322,930
KSM
DisclosureOfMineralInterestTableLineItems [Line Items]
Beginning balance	233,662	209,929
Expenditures / Acquisitions	14,899	23,733
Recoveries	0	0
Ending Balance	248,561	233,662
Courageous Lake
DisclosureOfMineralInterestTableLineItems [Line Items]
Beginning balance	68,702	68,098
Expenditures / Acquisitions	885	604
Recoveries	0	0
Ending Balance	69,587	68,702
Iskut
DisclosureOfMineralInterestTableLineItems [Line Items]
Beginning balance	19,795	0
Expenditures / Acquisitions	7,311	19,795
Recoveries	(1,885)	0
Ending Balance	25,221	19,795
Snowstorm
DisclosureOfMineralInterestTableLineItems [Line Items]
Beginning balance	0
Expenditures / Acquisitions	13,995
Recoveries	0
Ending Balance	13,995	0
Grassy Mountain
DisclosureOfMineralInterestTableLineItems [Line Items]
Beginning balance	771	771
Expenditures / Acquisitions	0	0
Recoveries	0	0
Ending Balance	$ 771	$ 771

8. Accounts Payable and Accru37

8. Accounts Payable and Accrued Liabilities (Details) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts Payable And Accrued Liabilities Details
Trade payables	$ 1,773	$ 1,637
Trade and other payables due to related parties	74	148
Non-trade payables and accrued expenses	2,114	3,936
Accounts payable and accrued liabilities	$ 3,961	$ 5,721

9. Provision for Reclamation 38

9. Provision for Reclamation Liabilities (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Provision For Reclamation Liabilities Details
Beginning balance	$ 3,510	$ 1,329
Acquisition of SnipGold (note 10)	0	2,224
Derecognition of Red Mountain	(1,039)	0
Accretion	10	19
Current year adjustment	0	(62)
Ending balance	$ 2,481	$ 3,510

10. Shareholders_ Equity (Detai

10. Shareholders’ Equity (Details) $ in Thousands	12 Months Ended
10. Shareholders’ Equity (Details) $ in Thousands	Dec. 31, 2017CAD ($)
Snowstorm Exploration LLC
Disclosure of detailed information about business combination [line items]
Assets acquired and liabilities assumed	$ 14,327
Consideration paid	14,327
Snowstorm Exploration LLC \| Share issuance
Disclosure of detailed information about business combination [line items]
Consideration paid	10,073
Snowstorm Exploration LLC \| Warrants
Disclosure of detailed information about business combination [line items]
Consideration paid	3,275
Snowstorm Exploration LLC \| Acquisition costs
Disclosure of detailed information about business combination [line items]
Consideration paid	979
Snowstorm Exploration LLC \| Current assets
Disclosure of detailed information about business combination [line items]
Assets acquired and liabilities assumed	2
Snowstorm Exploration LLC \| Mineral interests
Disclosure of detailed information about business combination [line items]
Assets acquired and liabilities assumed	13,988
Snowstorm Exploration LLC \| Reclamation deposits
Disclosure of detailed information about business combination [line items]
Assets acquired and liabilities assumed	337
SnipGold
Disclosure of detailed information about business combination [line items]
Assets acquired and liabilities assumed	14,775
Consideration paid	14,775
SnipGold \| Share issuance
Disclosure of detailed information about business combination [line items]
Consideration paid	12,452
SnipGold \| Acquisition costs
Disclosure of detailed information about business combination [line items]
Consideration paid	1,704
SnipGold \| Options and warrants
Disclosure of detailed information about business combination [line items]
Consideration paid	619
SnipGold \| Current assets
Disclosure of detailed information about business combination [line items]
Assets acquired and liabilities assumed	566
SnipGold \| Mineral interests
Disclosure of detailed information about business combination [line items]
Assets acquired and liabilities assumed	16,441
SnipGold \| Current liabilities
Disclosure of detailed information about business combination [line items]
Assets acquired and liabilities assumed	(8)
SnipGold \| Provision for reclamation liabilities
Disclosure of detailed information about business combination [line items]
Assets acquired and liabilities assumed	$ (2,224)

10. Shareholders_ Equity (Det40

10. Shareholders’ Equity (Details 1)	12 Months Ended
10. Shareholders’ Equity (Details 1)	Dec. 31, 2017CAD ($)shares	Dec. 31, 2016CAD ($)shares
Shareholders Equity Details 1
Stock options outstanding, beginning \| shares	3,701,595	3,585,000
Stock options, granted \| shares	605,000	1,145,801
Stock options, exercised \| shares	(190,984)	(303,644)
Stock options, expired \| shares	(497,102)	(725,562)
Stock options outstanding, ending \| shares	3,618,509	3,701,595
Stock options exercisable, ending \| shares	1,721,287	2,115,762
Stock options, weighted average exercise price, beginning	$ 11.76	$ 14.15
Stock options, weighted average exercise price, granted	13.14	12.04
Stock options, weighted average exercise price, exercised	11.87	10.68
Stock options, weighted average exercise price, expired	16.47	24.41
Stock options, weighted average exercise price, ending	11.34	11.76
Amortized value of options, beginning	14,653,000	21,602,000
Amortized value of options, granted	0	1,873,000
Amortized value of options, exercised	(752,000)	(1,273,000)
Amortized value of options, expired	(4,312,000)	(9,021,000)
Amortized value of options, stock based compensation granted in prior years	6,169,000	1,472,000
Amortized value of options, ending	$ 15,758,000	$ 14,653,000
RSUs outstanding, beginning \| shares	125,500	183,250
RSUs, granted \| shares	65,000	125,500
RSUs, vested \| shares	(62,750)	(183,250)
RSUs, expired \| shares	0	0
RSUs outstanding, ending \| shares	127,750	125,500
Amortized value of RSUs, beginning	$ 98,000	$ 989,000
Amortized value of RSUs, granted	136,000	98,000
Amortized value of RSUs, vested	(656,000)	(1,832,000)
Amortized value of RSUs, expired	0	0
Amortized value of RSUs, stock based compensation granted in prior years	1,213,000	846,000
Amortized value of RSUs, ending	791,000	98,000
Stock-based compensation, beginning	14,751,000	22,591,000
Stock-based compensation, granted	136,000	1,971,000
Stock-based compensation, exercised or vested	(1,408,000)	(3,108,000)
Stock-based compensation, expired	(4,312,000)	(9,021,000)
Stock-based compensation, stock based compensation granted in prior years	7,382,000	2,318,000
Stock-based compensation, ending	$ 16,549,000	$ 14,751,000

10. Shareholders_ Equity (Det41

10. Shareholders’ Equity (Details 2)	Dec. 31, 2017sharesyr	Dec. 31, 2016shares	Dec. 31, 2015shares
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	3,618,509	3,701,595	3,585,000
Options exercisable	1,721,287	2,115,762
$ 12.60
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	530,000
Remaining contractual life \| yr	.17
Options exercisable	530,000
$ 12.61
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	100,000
Remaining contractual life \| yr	.50
Options exercisable	100,000
$ 8
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	50,000
Remaining contractual life \| yr	1
Options exercisable	50,000
$ 10.36
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	400,000
Remaining contractual life \| yr	1.25
Options exercisable	400,000
$ 9.72
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	50,000
Remaining contractual life \| yr	1.50
Options exercisable	50,000
$ 9
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	425,000
Remaining contractual life \| yr	2.33
Options exercisable	0
$ 11.13
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	350,000
Remaining contractual life \| yr	3
Options exercisable	360,000
$ 13.52
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	100,000
Remaining contractual life \| yr	3
Options exercisable	66,666
$ 17.16
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	50,000
Remaining contractual life \| yr	3.42
Options exercisable	16,667
$ 17.14
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	50,000
Remaining contractual life \| yr	3.67
Options exercisable	0
$ 10.45
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	865,833
Remaining contractual life \| yr	4
Options exercisable	105,278
$ 13.14
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	605,000
Remaining contractual life \| yr	5
Options exercisable	0
$ 6.30
Disclosure of range of exercise prices of outstanding share options [line items]
Options outstanding	42,676
Options exercisable	42,676
$6.30 \| Minimum
Disclosure of range of exercise prices of outstanding share options [line items]
Remaining contractual life \| yr	1.08
$6.30 \| Maximum
Disclosure of range of exercise prices of outstanding share options [line items]
Remaining contractual life \| yr	3.25

10. Shareholders_ Equity (Det42

10. Shareholders’ Equity (Details 3) - yr	12 Months Ended
10. Shareholders’ Equity (Details 3) - yr	Dec. 31, 2017	Dec. 31, 2016
DisclosureOfOptionAssumptionsLineItems [Line Items]
Expected dividend yield	0.00%	0.00%
Minimum
DisclosureOfOptionAssumptionsLineItems [Line Items]
Expected stock price volatility	59.00%	44.00%
Risk-free interest rate	1.20%	0.50%
Expected life	4.50	.17
Maximum
DisclosureOfOptionAssumptionsLineItems [Line Items]
Expected stock price volatility	62.00%	73.00%
Risk-free interest rate	1.70%	12.00%
Expected life	5	5

10. Shareholders_ Equity (Det43

10. Shareholders’ Equity (Details Narrative)	12 Months Ended
10. Shareholders’ Equity (Details Narrative)	Dec. 31, 2017	Dec. 31, 2016
Shareholders Equity Details Narrative
Anti-dilutive shares excluded from the calculation of earnings per share	3,746,259	3,827,095

11. Fair Value of Financial A44

11. Fair Value of Financial Assets and Liabilities (Details Narrative) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value Of Financial Assets And Liabilities Details Narrative
Cash and cash equivalents	$ 4,049	$ 1,646	$ 990
Short-term deposits	12,056	6,120
Total current liabilities	$ 6,191	$ 5,721

12. Corporate and Administrat45

12. Corporate and Administrative Expenses (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
DisclosureOfCorporateAndAdministrativeExpensesLineItems [Line Items]
Corporate and administrative expenses	$ 13,673	$ 9,679
Employee compensation
DisclosureOfCorporateAndAdministrativeExpensesLineItems [Line Items]
Corporate and administrative expenses	3,423	3,344
Stock-based compensation
DisclosureOfCorporateAndAdministrativeExpensesLineItems [Line Items]
Corporate and administrative expenses	7,518	3,670
Professional fees
DisclosureOfCorporateAndAdministrativeExpensesLineItems [Line Items]
Corporate and administrative expenses	872	929
Other general and administrative
DisclosureOfCorporateAndAdministrativeExpensesLineItems [Line Items]
Corporate and administrative expenses	$ 1,860	$ 1,736

13. Related Party Disclosures46

13. Related Party Disclosures (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [line items]
Compensation of key management personnel	$ 9,882	$ 7,369
Compensation of directors
Disclosure of transactions between related parties [line items]
Compensation of key management personnel	1,353	1,133
Compensation of directors \| Directors fees
Disclosure of transactions between related parties [line items]
Compensation of key management personnel	329	369
Compensation of directors \| Services
Disclosure of transactions between related parties [line items]
Compensation of key management personnel	0	71
Compensation of directors \| Stock-based compensation
Disclosure of transactions between related parties [line items]
Compensation of key management personnel	1,024	693
Compensation of key management personnel
Disclosure of transactions between related parties [line items]
Compensation of key management personnel	8,529	6,236
Compensation of key management personnel \| Stock-based compensation
Disclosure of transactions between related parties [line items]
Compensation of key management personnel	4,817	2,838
Compensation of key management personnel \| Salaries and consulting fees
Disclosure of transactions between related parties [line items]
Compensation of key management personnel	$ 3,712	$ 3,398

14. Income Taxes (Details)

14. Income Taxes (Details) - CAD ($) $ in Thousands	12 Months Ended
14. Income Taxes (Details) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Taxes Details
Current tax expense	$ 252	$ 0
Deferred tax expense	1,912	2,977
Income tax expense	2,164	2,977
Share issuance costs	$ 709	$ 420

14. Income Taxes (Details 1)

14. Income Taxes (Details 1) - CAD ($) $ in Thousands	12 Months Ended
14. Income Taxes (Details 1) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Taxes Details 1
Loss before income taxes	$ (8,123)	$ (4,315)
Income tax rates	26.29%	26.33%
Tax recovery calculated using statutory rates	$ (2,136)	$ (1,136)
Non-deductible items	568	(170)
Difference in foreign tax rates	35	47
Rate differential	736	21
Tax benefits not recognized	(1,437)	(1,141)
Impact of true-up of prior year balances	0	311
Impact of current year renouncements	4,429	5,027
Other	(31)	17
Income tax expense	$ 2,164	$ 2,977

14. Income Taxes (Details 2)

14. Income Taxes (Details 2) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
DisclosureOfDeferredTaxAssetsAndLiabilitiesLineItems [Line Items]
Net deferred tax assets/liabilities	$ (18,598)	$ (17,395)
Property and equipment
DisclosureOfDeferredTaxAssetsAndLiabilitiesLineItems [Line Items]
Deferred tax assets	65	64
Provision for reclamation liabilities
DisclosureOfDeferredTaxAssetsAndLiabilitiesLineItems [Line Items]
Deferred tax assets	69	339
Financing costs
DisclosureOfDeferredTaxAssetsAndLiabilitiesLineItems [Line Items]
Deferred tax assets	991	667
Non-capital loss carryforwards
DisclosureOfDeferredTaxAssetsAndLiabilitiesLineItems [Line Items]
Deferred tax assets	19,532	15,731
Mineral interests
DisclosureOfDeferredTaxAssetsAndLiabilitiesLineItems [Line Items]
Deferred tax liabilities	$ (39,254)	$ (34,196)

14. Income Taxes (Details 3)

14. Income Taxes (Details 3) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investments in subsidiaries
DisclosureOfUnrecognisedDeferredTaxAssetsLineItems [Line Items]
Unrecognized deferred tax assets	$ 5,534	$ 5,029
Marketable securities
DisclosureOfUnrecognisedDeferredTaxAssetsLineItems [Line Items]
Unrecognized deferred tax assets	276	624
Loss carry-forwards
DisclosureOfUnrecognisedDeferredTaxAssetsLineItems [Line Items]
Unrecognized deferred tax assets	974	2,108
Investment tax credits
DisclosureOfUnrecognisedDeferredTaxAssetsLineItems [Line Items]
Unrecognized deferred tax assets	1,481	1,481
Foreign tax credits
DisclosureOfUnrecognisedDeferredTaxAssetsLineItems [Line Items]
Unrecognized deferred tax assets	268	16
Mineral properties
DisclosureOfUnrecognisedDeferredTaxAssetsLineItems [Line Items]
Unrecognized deferred tax assets	$ 203	$ 435

14. Income Taxes (Details 4)

14. Income Taxes (Details 4) $ in Thousands	12 Months Ended
14. Income Taxes (Details 4) $ in Thousands	Dec. 31, 2017CAD ($)
Canadian non-capital losses
DisclosureOfIncomeTaxAttributesLineItems [Line Items]
Income tax attributes	$ 74,608
Expiration date	2,037
Canadian capital losses
DisclosureOfIncomeTaxAttributesLineItems [Line Items]
Income tax attributes	$ 1,742
Expiration date	Indefinite
Canadian tax basis of mineral interest
DisclosureOfIncomeTaxAttributesLineItems [Line Items]
Income tax attributes	$ 182,057
Expiration date	Indefinite
US non-capital losses
DisclosureOfIncomeTaxAttributesLineItems [Line Items]
Income tax attributes	$ 237
Expiration date	2,037
US capital losses
DisclosureOfIncomeTaxAttributesLineItems [Line Items]
Income tax attributes	$ 1,192
Expiration date	2,022
US tax basis of mineral interest
DisclosureOfIncomeTaxAttributesLineItems [Line Items]
Income tax attributes	$ 1,564
Expiration date	Indefinite

14. Income Taxes (Details Narra

14. Income Taxes (Details Narrative) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Taxes Details Narrative
Income tax expense	$ 2,164	$ 2,977
Income tax rates	26.29%	26.33%

15. Commitments (Details)

15. Commitments (Details) $ in Thousands	Dec. 31, 2017CAD ($)
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	$ 14,212
2,018
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	9,327
2019-20
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	1,270
2021-22
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	1,363
2023-24
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	2,253
Mineral interests
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	4,996
Mineral interests \| 2018
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	687
Mineral interests \| 2019-20
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	982
Mineral interests \| 2021-22
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	1,075
Mineral interests \| 2023-24
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	2,253
Flow-through share expenditures
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	8,496
Flow-through share expenditures \| 2018
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	8,496
Flow-through share expenditures \| 2019-20
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	0
Flow-through share expenditures \| 2021-22
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	0
Flow-through share expenditures \| 2023-24
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	0
Business premises operating lease
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	720
Business premises operating lease \| 2018
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	144
Business premises operating lease \| 2019-20
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	288
Business premises operating lease \| 2021-22
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	288
Business premises operating lease \| 2023-24
DisclosureOfCommitmentsLineItems [Line Items]
Commitment payments	$ 0