Skeena Provides Regional Exploration Update on 100% Owned KSP Property

VANCOUVER, BC / ACCESSWIRE / October 5, 2023 / Skeena Resources Limited (TSX:SKE)(NYSE:SKE) ("Skeena" or the "Company") is pleased to provide an update on the grassroots regional assessment of its 100% owned KSP Property ("KSP" or the "Property"), located 24 kilometers southwest of Eskay Creek in the Golden Triangle of British Columbia, Canada. KSP was acquired by Skeena on June 1, 2022 following the acquisition of QuestEx Gold & Copper Ltd. This acquisition added a total of 64,000 hectares of largely unexplored, highly prospective regions to the Company's already significant land package.

The first pass of exploration on the KSP Property this year was completing property-scale stream sediment sampling to identify geochemical anomalies. Based on the results of these efforts and historical data, the team completed geological mapping, sampling, and prospecting with the objective of identifying the source, style and scale of mineralization present. Select rock sample results from KSP that Skeena has received to date are detailed below.

2023 KSP Rock Grab Sample Highlights:

• Tami Target
  • 14.20 g/t Au, 11.4 g/t Ag, 1.09% Cu, 0.05% Zn (K063909)
  • 9.26 g/t Au, 6.9 g/t Ag, 0.71% Cu, 0.02% Zn (K063916)
  • 2.39 g/t Au, 5.9 g/t Ag, 0.72% Cu, 0.13% Zn (K063913)
• Khyber Gap
  • 6.52 g/t Au, 27.40 g/t Ag, 0.14% Cu, 3.82% Zn (K063903)
• Pins Target
  • 0.06 g/t Au, 1.2 g/t Ag, 0.01% Cu, 31.34% Zn (K063904)

_{*Refer to the maps below for reference to location of samples}

Paul Geddes, Skeena's Senior Vice President of Exploration & Resource Development, commented "Despite the high prospectivity of KSP, the scarceness of historical exploration work is astonishing. By leveraging our team's extensive proficiency and knowledge of the area, we plan to execute undivided and pragmatic exploration programs as the Company continues to explore our regional land package of over 100,000 hectares."

The sections below provide a regional geological overview as well as detailed descriptions of the targets identified at KSP.

Gold-Copper Mineralization Confirmed at KSP Property

Field work this season at KSP has successfully identified a continuum of mineralization styles including deeper Au-Cu porphyry style mineralization, peripheral skarn and replacement styles of mineralization as well as high-level epithermal veins along a 17-kilometer long section of the prospective Bronson Corridor. The Tami, Pins and Khyber Gap targets highlighted on the map below are all located on the Bronson Corridor.