Skeena Files Technical Report for Snip MRE
Skeena Files Technical Report for Snip MRE
Vancouver, BC (September 26, 2023) Skeena Resources Limited (TSX: SKE, NYSE: SKE)
(“Skeena” or the “Company”) is pleased to announce that it has filed a detailed Technical Report (the
“Report”) for the Mineral Resource Estimate (“MRE”) at its 100% owned Snip Gold Project (“Snip” or
the “Project”). The Report is titled “Independent Technical Report for the Snip Project, Canada” and is
compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects . The key
results from the Report were summarized in the Company’s news release dated September 5, 2023.
A copy of the full report is available on Skeena’s website and has been filed on SEDAR+ at
www.sedarplus.ca and EDGAR at www.sec.gov.
About Skeena
Skeena Resources Limited is a Canadian mining exploration and development company focused on
revitalizing the Eskay Creek and Snip Projects, two past-producing mines 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. Skeena is currently continuing exploration
drilling and plans on releasing a Definitive Feasibility Study for Eskay Creek in Q4 2023.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Randy Reichert
Executive Chairman President & CEO
Contact Information
Investor Inquiries: [email protected]
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com
Qualified Persons
In accordance with National Instrument 43 -101 Standards of Disclosure for Mineral Projects, Paul
Geddes, P.Geo., Senior Vice President, Exploration & Resource Development, is the Qualified Person
for the Company and has reviewed and approved the technical and scientific content of this news
release.
Sheila Ulansky , P.Geo., Senior Resource Geologist for SRK Consulting (Canada) Inc. , is an
independent Qualified Person as defined by N ational I nstrument 43-101 and has reviewed and
approved the contents of this news release. Ms. Ulansky is responsible for the 2023 Mineral
Resources Estimate for the Snip Project.
Jeff Austin, P.Eng., President of International Metallurgical and Environmental Inc., is an independent
Qualified Person as define d by N ational I nstrument 43-101 and has reviewed and approved the
contents of this news release. Mr. Austin is responsible for mineral processing and metallurgical
testing for the Snip Project.
NR: 23-19 | September 26, 2023
The Company strictly adheres to CIM Best Practices Guidelines in conducting, do cumenting, and
reporting the exploration activities on its projects.
Cautionary note regarding forward-looking statements
Certain statements and information contained or incorporated by reference in this press 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”, “progressing towards”, “in
search of”, “targets”, “is projec ted”, “plans to”, “is planned”, “considers”, “estimates”, “expects”, “is expected”, “often”,
“likely”, “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 results of the Feasibility Study, processing capacity of the mine, anticipated
mine life, probable reserves, the potential impact of the Definitive Feasibility Study for Eskay Creek, and the Maiden
Engineering Study for Snip on the anticipated mine life and/or the conversion of resource ounces from the Inferred to
Indicated categories or from Measured or Indicated categories to the Reserve category, estimated project capital and
operating costs, potential reductions in process plant 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
development generally and specifically in relation to the potential for additional mineralizat ion in the recently increased
land package. 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 es timates, 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 assumptio ns set
forth herein and in the Company’s MD&A for the year ended December 31, 2022, its most recently filed interim MD&A,
and the Company’s Annual Information Form (“AIF”) dated March 22, 2023. Such forward -looking statements represent
the Company’s manage ment 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 performance. 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, i ncluding 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; environme ntal risks and
unanticipated reclamation expenses; and other risk factors identified in the Company’s MD&A for the year ended
December 31, 2022, its most recently filed interim MD&A, the AIF dated March 22, 2023, the Company’s short form base
shelf prospec tus 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 a t
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.
Cautionary note to U.S. Investors concerning estimates of mineral Reserves and mineral Resources
Skeena’s mineral Reserves and mineral Resources included or incorporated by reference herein have been e stimated in
accordance with National Instrument 43 -101 – Standards of Disclosure for Mineral Projects (“NI 43 -101”) as required by
Canadian securities regulatory authorities, which differ from the requirements of U.S. securities laws. The terms “mineral
reserve”, “proven mineral reserve”, “probable mineral reserve”, “mineral resource”, “measured mineral resource”,
“indicated mineral resource” and “inferred mineral resource” are Canadian mining terms as defined in accordance with NI
43-101 and the Canadian I nstitute of Mining, Metallurgy and Petroleum (“CIM”) “CIM Definition Standards – For Mineral
Resources and Mineral Reserves” adopted by the CIM Council (as amended, the “CIM Definition Standards”). These
standards differ significantly from the mineral prop erty disclosure requirements of the U.S. Securities and Exchange
Commission in Regulation S-K Subpart 1300 (the “SEC Modernization Rules”). Skeena is not currently subject to the SEC
Modernization Rules. Accordingly, Skeena’s disclosure of mineralization a nd other technical information may differ
significantly from the information that would be disclosed had Skeena prepared the information under the standards
adopted under the SEC Modernization Rules.
In addition, investors are cautioned not to assume that any part or all of Skeena’s mineral Resources constitute or will be
converted into Reserves. These terms have a great amount of uncertainty as to their economic and legal feasibility.
Accordingly, investors are cautioned not to assume that any “measured”, “indicated”, or “inferred” mineral Resources that
Skeena reports are or will be economically or legally mineable. Further, “inferred mineral Resources” have a great amount
of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed
that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian securities
laws, estimates of “inferred mineral Resources” may not form the basis of feasibility or prefeasibility studies, except in rare
cases where permitted under NI 43-101.
For these reasons, the mineral reserve and mineral resource estimates and related information presented herein may not
be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements
under the U.S. federal securities laws and the rules and regulations thereunder.