Additional Mineralization Identified In 23 Zone

VANCOUVER - Skeena Resources Limited reported the delineation of additional Rhyolite-hosted mineralization located in the 23 Zone as part of the recently completed 2022 regional and near mine exploration drilling campaigns at the Eskay Creek gold-silver Project in the Golden Triangle of British Columbia.

The new mineralization continues to expand 23 Zone. Infill drill holes SK-22-1092 and SK-22-1089 have successfully confirmed additional Rhyolite-hosted gold-silver mineralization from surface, intersecting 0.92 g/t Au, 12.5 g/t Ag (1.05 g/t AuEq) over 79.97 m and 0.77 g/t Au, 7.9 g/t Ag (0.86 g/t AuEq) over 29.90 m , respectively . These drill holes were collared from the same pad as previously reported drill hole SK-22-1090, which intersected 1.13 g/t Au, 6.6 g/t Ag (1.20 g/t AuEq) over 96.02 m.

The results highlighted above confirm the excellent downhole continuity of mineralization from the surface and have potential to positively impact the future open-pit strip ratio once the updated resource and engineering studies are completed. Results from additional nearby infill drill holes are pending and expected in the near future.

"Exploration and infill drilling by Skeena continues to confirm and expand zones of mineralization in areas deemed non-prospective by previous operators. We are excited about the drill results we are seeing and expect a steady stream of new results,” said, Adrian Newton, Director of Exploration.

Randy Reichert, President and CEO, said, "We continue to be impressed by the discovery and definition of additional near surface mineralization in close proximity to the Feasibility Study Main Pit. Targets such as the 23 Zone are expected to provide positive benefits to the Feasibility Study update that we plan to release in H2 2023."