Skeena Retains 100% Ownership of the Snip Gold Project
Skeena Retains 100% Ownership of the Snip Gold Project
Vancouver, BC (April 5, 2023) Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena” or
the “Company”) announces that, effective immediately, Hochschild Mining PLC (“Hochschild”) has
terminated its option to earn into 60% of the Snip Gold Project (“Snip” or the “Project”) in the Golden
Triangle of British Columbia, Canada. This results in Skeena reassuming management of the Project
and retaining 100% ownership.
Hochschild informed Skeena that they have satisfied the minimum annual expenditure requirements
as highlighted in Skeena’s September 19, 201 8 news release . This implies that, at minimum,
Hochschild has spent C$15 million on Snip to date. Skeena will receive all data and information
generated by Hochschild since their notification of intent to earn into a 60% interest on
October 15, 2021.
Randy Reichert, Skeena’s President & CEO, commented “We are thrilled to have 100% of Snip back
in our portfolio. In the months ahead, Skeena plans to investigate opportunities to bolster the Eskay
Creek mine life by processing Snip ore at the Eskay Creek mill.”
About Skeena
Skeena Resources Limited is a Canadian mining exploration and development 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.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr. 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 prepared, validated, and approved th e 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.
NR: 23-07 | April 5, 2023
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 results of the 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 development. 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, 202 2, its most recently filed interim MD&A, and the Company’s Annual Information Form (“AIF”) dated
March 21, 2023. Such forward -looking statements represent the Company’s management expectations, estimates an d
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, including changes in the price o f 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 re clamation expenses; and other risk factors
identified in the Company’s MD&A for the year ended December 31, 202 2, its most recently filed interim MD&A, the AIF
dated March 21, 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.