Mr. Walter Coles reports

SKEENA GOLD & SILVER RECEIVES APPROVAL FOR BULK TECHNICAL SAMPLE AT ESKAY CREEK AND PROVIDES UPDATE ON OTHER REGULATORY ACTIVITIES

Skeena Resources Ltd. has made positive progress on permitting activities for the development of the company's 100-per-cent-owned Eskay Creek gold-silver project.

Walter Coles, executive chairman of Skeena, commented: "The receipt of the bulk technical sample permit is a major milestone for the company as it grants us the necessary authorizations for all planned development activities at Eskay Creek in 2025. It is also significant because it is a key condition precedent for the release of $200-million (U.S.) in gold stream project funding from Orion Resource Partners. Over the next 12 months, Skeena will continue advancing Eskay through B.C.'s environmental assessment process, in close collaboration with our Tahltan First Nation partners."

Bulk technical sample permit approved

The B.C. Ministry of Mining and Critical Minerals has provided approval to Skeena for the extraction of a 10,000-tonne bulk sample. The bulk sample application has been the subject of consultation with local indigenous groups and local communities. Additionally, extensive environmental baseline monitoring, engineering design, geotechnical investigation, stockpile assessment, and safety and reclamation studies have been completed to support the bulk sample program. As outlined in the financing agreement with Orion Resource Partners (see news release dated June 25, 2024), the receipt of the bulk technical sample permit is a condition precedent for release of subsequent tranches of the $200-million (U.S.) gold stream financing ($195-million (U.S.) remaining) to continue advancing development of Eskay Creek.

Environmental assessment application and public consultation

Following the company's initial environmental assessment application submission in mid-August, 2024, the project has formally commenced the 180-day legislated application review process under the B.C. Environmental Assessment Act. Skeena is currently receiving and responding to comments from the technical advisory committee, which includes participation from indigenous nations, including the Tahltan Nation (as represented by Tahltan central government), and regulatory agencies. In June, 2022, the Tahltan Nation and the Province of British Columbia entered into the first consent-based decision-making agreement under the Declaration on the Rights of Indigenous Peoples Act, which will make Eskay Creek the first mining project to have its environmental assessment certificate authorized by a first nations government. As a result, the environmental assessment process for Eskay Creek is a major step forward toward sustainable mining with active participation from the Tahltan central government in the decision-making process.

Skeena is also in the process of gathering and responding to feedback from local community members and stakeholders during the public consultation period. This includes a series of both in-person and virtual information sessions designed to encourage community participation and feedback. Input from this phase of the review process will inform the final environmental assessment application submission in late first quarter 2025.

Within Tahltan territory, engagement sessions have been held in the communities of Iskut, Dease Lake and Telegraph Creek. Regional engagement sessions have been carried out in Terrace and Smithers. The company has also launched a virtual information room for those who are interested but have been unable to attend the local in-person information sessions. This virtual tool provides summaries of key chapters in the Eskay Creek environmental assessment application.

About Skeena Resources Ltd.

Skeena is a leading precious metal developer that is focused on advancing the Eskay Creek gold-silver project -- a past-producing mine located in the renowned Golden Triangle in British Columbia, Canada. Eskay Creek will be one of the highest-grade and lowest-cost open-pit precious metal mines in the world, with substantial silver byproduct production that surpasses many primary silver mines. Skeena is committed to sustainable mining practices and maximizing the potential of its mineral resources. In partnership with the Tahltan First Nation, Skeena strives to foster positive relationships with indigenous communities while delivering long-term value and sustainable growth for its stakeholders.

We seek Safe Harbor.