Skeena Intersects 24 g/t Gold Over 3.2 Metres at Snip

VANCOUVER, BC--(Marketwired - November 01, 2016) - Skeena Resources Limited (TSX VENTURE: SKE) ("Skeena" or the "Company") is pleased to announce the final assay results from the recently completed drill program at the past-producing Snip high-grade gold project ("Snip") located in the Golden Triangle of northwest British Columbia. Highlights include 24.44 g/t Au over 3.2 metres, including 38.3 g/t Au over 1.9 metres in hole S-16-16 which, along with hole S-16-17, were targeted to further extend the newly discovered Twin West Structural Corridor.

Skeena's Chairman Ron Netolitzky stated, "The 2016 drill program successfully tested several promising high-grade targets away from the historical mine workings including the new 200 Footwall Zone. The option agreement with Barrick Gold precluded us from drilling within 25 meters of historic workings until Skeena takes ownership of the property. We have now met the key commitment of $2 million in exploration spending that allows Skeena to begin the process of transferring the property over from Barrick Gold, pending certain regulatory approvals. Our objective over the next few months is to complete the acquisition of the mine and to prepare for an aggressive underground drill program in 2017."

Additional holes this season in the Twin Zone further confirmed the presence of the newly defined 200 Footwall Zone, which is approximately 200 meters below the historic mine workings. Highlights include 60.7 g/t Au over 1 metre and 8.44 g/t Au over 1.2 metres in hole S-16-26.

Snip 2016 Drill Hole Assay Highlights
Hole #	From (m)	To (m)	Interval (m)	Au g/t
S-16-16	158.5	161.7	3.2	24.44
incl.	158.5	160.4	1.9	38.3
S-16-17	56.7	58.6	1.9	10
S-16-25	83	84	1	12.9
S-16-26	41.1	42.1	1	60.7
	162.8	164	1.2	8.44

Notes: All values are un-cut. Drill intercepts are core length as there is insufficient data available to present true widths. Complete assay information, a drill plan and list of collars are available on the Skeena website.