VANCOUVER – Skeena Resources Limited (TSX: SKE; NYSE: SKE) announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, pursuant to which the Underwriters have agreed to purchase, on bought deal basis 8,700,000 common shares of the Company at a price of C$7.35 per Common Share, for total gross proceeds of approximately C$64 million. The Company will also grant to the Underwriters an over-allotment option to purchase up to 1,305,000 additional Common Shares. The Over-Allotment Option will be exercisable for a period of 30 days following closing.

The Common Shares will be offered by way of a prospectus supplement to the Company’s base shelf prospectus in all of the provinces of Canada, except the province of Quebec, and may also be offered by way of private placement in the United States.

The net proceeds of the Offering will be used for continued advancement of the Company’s Eskay Creek gold-silver project and for general corporate purposes.

The Offering is expected to close on or about May 24, 2023, and is subject to Skeena receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and the Common Shares having been approved for listing on the New York Stock Exchange.

Skeena Resources Limited 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 NPV5% of C$1.4B, 50% IRR, and a 1-year payback at US$1,700/oz Au and US$19/oz Ag.

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