Skeena Gold & Silver Signs Interconnection Agreement with Coast Mountain Hydro and Secures Access to Clean, Cost-Effective Energy Supply for Eskay Creek
Skeena Gold + Silver TSX: SKE | NYSE: SKE 1
www.skeenagoldsilver.com
Skeena Gold & Silver Signs Interconnection Agreement with Coast
Mountain Hydro and Secures Access to Clean, Cost-Effective Energy
Supply for Eskay Creek
Vancouver, BC ( May 22, 2025) Skeena Resources Limited (TSX: SKE, NYSE: SKE) ( “Skeena Gold & Silver”,
“Skeena” or the “Company”) is pleased to complete a signed interconnection and transmission agreement
(the “agreement”) with Coast Mountain Hydro Limited Partnership (“CMH”). The agreement allows Skeena to
connect to CMH’s transmission line for the Company’s 100%-owned Eskay Creek Gold-Silver Project (“Eskay”
or the “Project”). CMH operates three run -of-river hydroelectric facilities including Forrest Kerr, McLymont
Creek, and Volcano Creek Hydro Projects which provide power to the BC Hydro Northwest Transmission Line.
CMH is partly owned by the Tahltan Nation and provides clean renewable power to Tahltan communities within
the Northwest British Columbia Corridor.
Randy Reichert, President & Chief Executive Office r, commented: “The agreement
signed with CMH allows for power connection 17km from the Project. By securing this tie-
in, we eliminate the need to construct our own transmission line and infrastructure to
connect to the BC Hydro grid, saving significant capital costs. Over the past month, we’ve
successfully completed the first tie-ins to the 287-kilovolt(“kV”) CMH transmission line.
This gateway will enable Skeena to secure industrial electricity rates from BC Hydro of
approximately CAD $0.06/ kWh for the project—a highly competitive rate that will lower
both operating costs and emissions, as compared to the global mining industry standard.
This agreement marks another step forward in de-risking the Project and brings us one
step closer to securing clean, cost-effective power at Eskay Creek.”
The Interconnection and Transmission Service Agreement
Under this agreement, Skeena will connect to CMH’s transmission line, which is linked to the BC Hydro
network. This connection will enable Skeena to purchase electricity for the Project directly from BC Hydro by
paying a tolling charge to CMH. As part of the project design, Skeena will construct a substation with a 30-year
design life together with metering devices to monitor the energy consumption of the project . The agreement
will automatically renew every annum and can support the Project’s power requirements.
Electrical Power Connection Schedule
Over the last month, Skeena has completed the first tie-ins to the 287kV transmission line at Volcano Creek,
during a planned maintenance shutdown of the CMH facilities. Continued work on the electrical power
infrastructure to the Project will continue over the next 12 months , with the ring bus and transformer
installation at the new Eskay substation starting in May. Power lines to the site will start this year and are
expected to be completed by H2 2026.
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 cost 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 o f 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.
2 Skeena Gold + Silver TSX: SKE | NYSE: SKE
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
W: www.skeenagoldsilver.com
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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 need for additional interconnections to the
BC Hydro grid, the future price of electricity, the emissions associated with power to be purchased from BC Hydro, plans to build
a substation, plans to connect to the CMH transmission system, the sufficiency of the agreement to support the Project’s power
requirements, the timing and completion of installation of the ring bus, transformer and power lines to site, planned production,
the grade of metals mined during production, and costs during production. Such forward-looking statements are based on
material factors and/or assumptions which include, but are not limited to, the amount of electricity needed at Eskay Creek, the
current price of electricity, 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, 202 4, its most recently filed interim MD&A, and the
Company’s Annual Information Form (“AIF”) dated March 31, 2025. 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 perform ance. 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; the
future industrial rate from BC Hydro and the tolling and wheeling c harges from CMH; changes in plans to increase or decrease
electrification at Eskay Creek; 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 Decembe r 31, 2024, its most recently filed interim
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MD&A, the AIF dated March 31, 202 5, the Company’s short form base shelf prospectus dated March 19, 2025 , 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.