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Skeena Grants Stock Options

Share Capital & Compensation

Skeena Grants Stock Options

Vancouver, BC (January 31, 2017) Skeena Resources L imited (TSX.V: SKE ) (“ Skeena ” or the

“Company ”) reports that the Board of Directors has granted 8,300,000 incentive stock options to

directors, officers and consultants of the Company, subject to TSX Venture Exchange approval. The

options will have a term of 5 years, expiring on Ja nuary 31, 2022. Each option will allow the holder

to purchase one common share in the Company at a pr ice of $0.10. A total of 75,000 of the options

are subject to vesting over a period of one year in accordance with Exchange regulations. Any

shares issued on the exercise of these stock option s will be subject to a four month hold period from

date of grant.

About Skeena

Skeena Resources Limited is a junior Canadian minin g exploration company focused on developing

prospective base and precious metal properties in t he Golden Triangle region of northwest British

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

Spectrum-GJ gold-copper project as well as explorat ion on the past-producing Snip gold mine,

acquired from Barrick Gold, and the past-producing Porter Idaho silver mine. Skeena’s management

includes a highly experienced team of mine-finders, including Ron Netolitzky, Chairman of the

Board.

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

Walt Coles Jr.

President & CEO

Cautionary note regarding forward-looking statement s

Certain statements made and information contained h erein may constitute “forward looking information” and “forward

looking statements” within the meaning of applicabl e Canadian and United States securities legislation , including, among

other things, information with respect to this pres entation. 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 expectat ions. Forward-

looking statements and information may be identifie d by such terms as “anticipates”, “believes”, “targ ets”, “estimates”,

“plans”, “expects”, “may”, “will”, “could” or “woul d”. Forward-looking statements and information con tained herein are

based on certain factors and assumptions regarding, among other things, the estimation of mineral reso urces and

reserves, the realization of resource and reserve e stimates, metal prices, taxation, the estimation, t iming and amount of

future exploration and development, capital and ope rating costs, the availability of financing, the re ceipt of regulatory

approvals, environmental risks, title disputes and other matters. While the Company considers its ass umptions to be

reasonable as of the date hereof, forward-looking s tatements and information are not guarantees of fut ure performance

and readers should not place undue importance on su ch statements as actual events and results may diff er materially

from those described herein. The Company does not u ndertake to update any forward-looking statements o r information

except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor the Investment Ind ustry Regulatory Organization of Canada accepts res ponsibility

for the adequacy or accuracy of this release.

NR: 17-02

January 31, 2017