Skeena Files Early Warning Report Regarding TDG Gold Corp.
Skeena Gold + Silver TSX: SKE | NYSE: SKE 1
www.skeenagoldsilver.com
Skeena Files Early Warning Report Regarding TDG Gold Corp.
Vancouver, BC (February 28, 2025) Skeena Resources Limited (TSX: SKE; NYSE: SKE) (“Skeena Gold &
Silver” , “Skeena” or the “Company”) reports that it has filed an early warning report under National Instrument
62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection to
its shareholdings in TDG Gold Corp. (TSXV: TDG) (“TDG”).
On February 14, 2025, Skeena, together with its wholly -owned subsidiary, QuestEx Gold & Copper Ltd.
(“QuestEx”), acquired 22,000,000 Shares of TDG (the “ Transaction”). The aggregate consideration paid by
Skeena and QuestEx in respect of the Transaction was C$11,000,000, or C$0.50 per Share, consisting of the
sale by QuestEx of its Sofia property at a deemed price of C$4,000,000 and a payment by Skeena of
C$7,000,000.
Immediately prior to the Transaction, Skeena owned and controlled a total of 1,000,000 Shares, representing
approximately 0.65% of the issued and outstanding Shares of TDG. As a result of and immediately following
the Transaction, Skeena owned and controll ed a total of 23,000,000 Shares of TDG, representing
approximately 13% of the issued and outstanding Shares of TDG.
The acquisition of the Shares was for investment purposes. Skeena may from time to time acquire additional
securities of TDG, dispose of some or all of the existing or additional securities or may continue to hold its
Shares.
TDG’s head office is located at Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6 Canada.
To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with
the transactions hereunder, please see TDG’s profile on the SEDAR+ website at www.sedarplus.ca.
About Skeena
Skeena is a leading precious metals 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 cos t open -pit precious metals mines in the world, with
substantial silver by-product production that surpasses many primary silver mines. Skeena is committed to
sustainable mining practices and maximizing the potential of its mineral resources. In part nership with the
Tahltan Nation, Skeena strives to foster positive relationships with Indigenous communities while delivering
long-term value and sustainable growth for its stakeholders.
On behalf of the Board of Directors of Skeena Gold & Silver,
Walter Coles Randy Reichert
Executive Chairman President & CEO
For further information, please contact:
Galina Meleger
Vice President Investor Relations
T: 604-684-8725
2 Skeena Gold + Silver TSX: SKE | NYSE: SKE
W: www.skeenagoldsilver.com
Skeena’s Corporate Head office is located at Suite #2600 – 1133 Melville Street, Vancouver BC V6E 4E5
Cautionary note regarding forward-looking statements
Certain statements and information contained or incorporated by reference in this news release constitute “forward -looking
information” and “forward -looking statements” within the meaning of applicable Canadian and United States securities
legislation (collectively, “forward-looking statements”). These statements relate to future events or our future performance. The
use of words such as “anticipates” , “believes” , “proposes” , “contemplates” , “generates” , “targets” , “is projected” , “is planned” ,
“considers” , “estimates” , “expects” , “is expected” , “potential” and similar expressions, or statements that certain actions,
events or results “may” , “might” , “will” , “could” , or “would” be taken, achieved, or occur, may identify forward-looking
statements. All statements other than statements of historical fact are forward -looking statements. Specific forward -looking
statements contained herein include, but are not limited to, statements regarding the progress of development at Eskay,
including the construction budget, schedule and required funding in respect thereof; the timing for and the Company's progress
towards commencement of commercial production; the Company's capital structure; and the results of the Definitive Feasibility
Study, processing capacity of the mine, anticipated mine life, probable reserves, estimated project capital and operating costs,
sustaining costs, results of test work and studies, planned environmental assessments, the future price of metals, metal
concentrate, and future exploration and de velopment. Such forward -looking statements are based on material factors and/or
assumptions which include, but are not limited to, 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 receipt of regulatory approvals, environmental risks, title disputes and the
assumptions set forth herein and in the Company’s MD&A for the year ended December 31, 2023, its most recently filed interim
MD&A, and the Company’s Annual Information Form (“AIF”) dated March 28, 2024. Such forward-looking statements represent
the Company’s management expectations, estimates and projections regarding future events or circumstances on the date the
statements are made, and are necessarily based on several estimates and assumptions that, while considered reasonable by
the Company as of the date hereof, are not guarantees of future pe rformance. Actual events and results may differ materially
from those described herein, and are subject to significant operational, business, economic, and regulatory risks and
uncertainties. The risks and uncertainties that may affect the forward -looking statements in this news release include, among
others: the inherent risks involved in exploration and development of mineral properties, including permitting and other
government approvals; changes in economic conditions, including changes in the price of gold and other key variables; changes
in mine plans and other factors, including accidents, equipment breakdown, bad weather and other project execution delays,
many of which are beyond the control of the Company; environmental risks and unanticipated reclamation expenses; and other
risk factors identified in the Company’s MD&A for the year ended December 31, 2023, its most recently filed interim MD&A, the
AIF dated March 28, 2024, the Company’s short form base shelf prospectus dated January 31, 2023, and in the Company’s other
periodic filings with securities and regulatory authorities in Canada and the United States that are available on SEDAR+ at
www.sedarplus.ca or on EDGAR at www.sec.gov.
Readers should not place undue reliance on such forward -looking statements. Any forward-looking statement speaks only as
of the date on which it is made and the Company does not undertake any obligations to update and/or revise any forward-looking
statements except as required by applicable securities laws.