Skeena Intersects 24 g/t Gold Over 3.2 Metres at Snip - Seite 2

These latest results, along with the previously announced results from September 14, 2016 and October 3, 2016 demonstrate the success of the 2016 Snip exploration program. A total of 28 diamond drill holes totaling 7,180 metres were completed with the goal being to discover new parallel high-grade vein structures. Three significant high-grade zones were identified or confirmed, all of which are located outside of historic mine working areas.

1. The Lamp Zone, which is located just east of the historic Twin Zone mine workings and explored by two adit levels. Drill assays indicate at least two new high-grade vein structures that remain open along strike. Highlights include S-16-03 which intersected 59.5 g/t Au over 1.4 metres and 21.3 g/t Au over 1.15 metres and S-16-02 which intersected 33.07 g/t Au over 2.4 metres including 50.3 g/t Au over 1.5 metres.
   
2. The 200 Footwall Zone, which is located 200 metres into the footwall below the main Twin Zone historic mine workings. Intercepts suggests a vein structure with a dip length of 110 metres that remains open down-dip and along strike. Highlights include S-16-06, which intersected 16.24 g/t Au over 13.5 metres including 30.99 g/t Au over 4.5 metres.
   
3. The Twin West Structural Corridor, which is located west of the historic Twin West mine workings. Several parallel veins have been identified with an overall strike length of 300+ metres and remains open down-dip and along strike. Highlights include S-16-11, which intersected 16.01 g/t Au over 4.7 metres, including 37.7 g/t Au over 1.65 metres.

Skeena has completed the $2 million spending commitment (the primary requirement to earn 100% interest in the property from Barrick Gold) and has begun the process of transferring ownership. As the Option Agreement (see news release dated March 23, 2016) with Barrick Gold required Skeena to refrain from drilling within 25 metres of historic underground workings, planning for the 2017 exploration program can now include drilling from underground. Access to the underground workings will allow for year-round drilling and the ability to delineate vein structures in a much more efficient and cost-effective manner.