Mr. Randy Reichert reports

SKEENA ANNOUNCES POSITIVE DECISION ON ITS APPLICATION FOR LEAVE TO APPEAL INVOLVING ALBINO LAKE STORAGE FACILITY

Justice Fisher of the Court of Appeal for British Columbia has granted Skeena Resources Ltd.'s application for leave to appeal from the decision of the Supreme Court of British Columbia, which dismissed the company's appeal from the Feb. 7, 2022, decision of the chief gold commissioner. The chief gold commissioner had concluded that Richard Mill, and not Skeena, owns the mineral rights to materials contained in the Albino Lake storage facility at Eskay Creek.

The decision allows Skeena's appeal to proceed. The court decided that Skeena's appeal raises legal issues of sufficient merit to warrant review by the Court of Appeal, and that the proper interpretation of the relevant legislation will be important to the resource extraction industry and other stakeholders.

No date has been set for the hearing of Skeena's appeal. The company will provide updates when more is known.

The material contained in the Albino Lake storage facility is not part of the company's resource or reserve statements for Eskay Creek nor has it been included in any studies, including the September, 2022, feasibility study for the Eskay Creek project.

About Skeena Resources Ltd.

Skeena Resources is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan territory in the Golden Triangle of northwest British Columbia, Canada. The company released a feasibility study for Eskay Creek in September, 2022, which highlights an after-tax net present value discounted at 5 per cent of $1.4-billion, a 50-per-cent internal rate of return and a one-year payback at $1,700 (U.S.)/ounce gold and $19 (U.S.)/ounce silver.

Qualified person

In accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, Paul Geddes, PGeo, senior vice-president, exploration and resource development, is the qualified person for the company, and has prepared, validated and approved the technical and scientific content of this news release. The company strictly adheres to CIM (Canadian Institute of Mining, Metallurgy and Petroleum) best practices guidelines in conducting, documenting and reporting the exploration activities on its projects.

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