Vancouver, BC (January 9, 2020) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF) (“Skeena” or the “Company”) is pleased to announce the remaining analytical results from the 2019 Phase I surface exploration drilling program at the 100% owned Snip gold project (“Snip”) located in the Golden Triangle of British Columbia. The 2019 exploration program consisted of 10 surface drill holes totaling 1,934 m which tested the 200 Footwall Corridor (“200 Footwall”). Reference images are presented at the end of this release as well as on the Company’s website.

2019 Phase I Snip Project Drilling Highlights:

16.64 g/t Au over 5.10 m (S19-035)
    Including: 96.20 g/t Au over 0.50 m
    And 39.80 g/t Au over 0.85 m
57.90 g/t Au over 0.65 m (S19-041)
57.00 g/t Au over 0.50 m (S19-041)
12.00 g/t Au over 1.35 m (S19-043)

Core lengths are reported due to a lack of supporting data to properly calculate true widths. Length weighted composites were constrained by geological and grade considerations. Grade capping of individual assays has not been applied to the Au assays informing the length weighted composites. Samples below detection limit were nulled to a value of zero.

New Mineralization Intersected in 200 Footwall

Phase I surface drill hole S19-035 has successfully intersected a new zone of high-grade gold mineralization averaging 16.64 g/t Au over 5.10 m including two sub-intervals grading 96.20 g/t Au over 0.50 m and 39.80 g/t Au over 0.85 m in the 200 Footwall. This zone is located 100 m vertically below surface and 370 m east of the recently reported Phase I 200 Footwall discovery intercept which graded 1,131.91 g/t (36.39 oz/t) Au over 1.50 m (S19-044). The area surrounding the new zone is open down-dip and down-plunge.

The outstanding analytical results for drill holes S19-043 and S19-044 have been received. The high-grade intercept in S19-044 occurred at a depth of 249.60 m. Additional results for this drill hole include 12.60 g/t Au over 0.50 m and 7.41 g/t Au over 0.60 m occurring at 242.35 m and 214.80 m respectively.

Phase I drill hole S19-043 was completed prior to the newly discovered mineralization in drill hole S19-044 and intersected anomalous gold grades associated with sheared veining including 12.00 g/t Au over 1.35 m. Recently completed modelling of the 200 Footwall mineralization indicates that this drill hole did not extend deep enough to adequately test the 200 Footwall and will be deepened during the next phase of drilling at Snip.

About Skeena

Skeena Resources Limited is a junior Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada. The Company’s primary activities are the exploration and development of the past-producing Snip mine and the Eskay Creek mine. In addition, the Company has completed a Preliminary Economic Assessment on the GJ copper-gold porphyry project.

On behalf of the Board of Directors of Skeena Resources Limited,

Walter Coles Jr.

President & CEO

Original Press Release Follows from skeenaresources.com: