Skeena Resources Announces C$64 Million Bought Deal Financing
PRESS RELEASE
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.
SKEENA RESOURCES ANNOUNCES C$64 MILLION BOUGHT DEAL FINANCING
Vancouver, BC (May 16, 2023) Skeena Resources Limited (TSX: SKE; NYSE: SKE) (“Skeena” or the
“Company”) announced today that it has entered into an agreement with a syndicate of underwriters led
by BMO Capital Markets (the “Underwriters”) , pursuant to which the Underwriters have agreed to
purchase, on bought deal basis 8,700,000 common shares of the Company (the “Common Shares”) at
a price of C$7.35 per Common Share , for total gross proceeds of approximately C$64 million (the
“Offering”). The Company will also grant to the Underwriters an over-allotment option (the “ Over-
Allotment Option”) to purchase up to 1,305,000 additional Common Shares (the “Over -Allotment
Shares”). The Over-Allotment Option will be exercisable for a period of 30 days following closing.
The Common Shares will be offered by way of a prospectus supplement (the “Supplement”) to the
Company’s base shelf prospectus in all of the provinces of Canada, except the province of Quebec, and
may also be offered by way of private placement in the United States.
The net proceeds of the Offering will be used for continued advancement of the Company’s Eskay Creek
gold-silver project and for general corporate purposes.
The Offering is expected to close on or about May 24, 202 3, and is subject to Skeena receiving all
necessary regulatory approvals, including the approval of the Toronto Stock Exchange and the Common
Shares having been approved for listing on the New York Stock Exchange.
No securities regulatory authority has either approved or disapproved of the contents of this news
release. The Common Shares being offered have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state
of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States,
absent registration or an exemption from the registration requirements of the U.S. Securities Act and
applicable state securities laws. This news release shall not constitute an offe r to sell or the solicitation
of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About Skeena
Skeena Resources Limited is a Canadian mining exploration and d evelopment company focused on
revitalizing the past -producing Eskay Creek gold -silver mine 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.
For further information, please contact:
Walter Coles Jr. Randy Reichert
Executive Chairman President & CEO
Contact Information
Investor Inquiries: [email protected]
Office Phone: +1 604 684 8725
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 prepared, validated, and approved the technical and scientific content of this
news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting,
documenting, 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 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 stateme nts of historical fact are
forward-looking statements. Specific forward -looking statements contained herein include, but are not
limited to, statements regarding the expected use of net proceeds from the Offering and anticipated
closing date for the Offering, results of the Feasibility Study for Eskay Creek, 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 development. Such forward-looking statements are based
on material factors and/or assumptions which include, but are not limited to, the estimation of mine ral
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 regul atory approvals, environmental risks, title disputes and the
assumptions 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 2 2,
2023. 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 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 permit ting 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, 2022, its most recently filed interim MD&A, the AIF dated March 22, 2023, 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.sedar.com 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.