OF AMERICA Skeena Closes First Tranche of Strategic Investment

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Skeena Closes First Tranche of Strategic Investment

Vancouver, BC ( October 10, 2017) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the

“Company”) is pleased to report that it has closed the first tranche of the strategic investment

financing (the “ Financing”) announced on October 2, 2017 . The Company expects to close the

balance of the Financing before October 20, 2017.

Skeena collected gross proceeds of C$3,000,000 from the sale of 41,666,668 flow through units (the

“Units”) at a price of C$0.0 72 per Unit. Each Unit consist s of one flow through common share and

one half of a warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire

one additional non-flow through common share of Skeena at a price of C$0.10 for 24 months following

closing.

The net proceeds of the F inancing will be used to fund ongoing exploration programs. All of th e

securities issued under th e Financing will be subject to a hold period of 4 months from th e closing

date of the offering. Finders’ fees may be payable to qualified finders in accordance with applicable

regulations.

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 region of northwest British

Columbia, Canada. The Company’s primary activities are the e xploration and development of the

past-producing Snip gold mine, acquired from Barrick Gold, and the past-producing Porter Idaho silver

mine. The Company also recently announced Preliminary Economic Assessment results for the

Spectrum-GJ copper-gold porphyry project.

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

Walter Coles Jr.

President & CEO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the Unit ed States of

America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the

“U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined

in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemp tion from

such registration requirement is available.

NR: 17-16

October 10, 2017

Cautionary note regarding forward-looking statements

Certain statements made and information contained herein may constitute “forward -looking information” and “forward -looking

statements” within the meaning of applicable Canadian and United States securities legislation, including, among other things ,

information with respect to the expected size and terms of the Offering, the expected timing for closing of the Offering and the expected

use of proceeds of the Offering. These statements and information are based on facts currently available to the Company and there is

no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified

by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “w ould”. Forward-looking

statements and information contained herein are based on certain factors and assumptions regarding, among other things, the

estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation,

timing and amount of future exploration and development, capital and operating costs, the availability of financing, the rece ipt of

regulatory approvals, environmental risks, title disputes and other matters. While the Company c onsiders its assumptions to be

reasonable as of the date hereof, forward -looking statements and information are not guarantees of future performance and readers

should not place undue importance on such statements as actual events and results may differ materially from those described herein.

The Company does not undertake to update any forward -looking statements or information except as may be required by applicable

securities laws.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts

responsibility for the adequacy or accuracy of this release.