Skeena Provides Update on Snip Gold Project

VANCOUVER, BC--(Marketwired - March 06, 2017) - Skeena Resources Limited (TSX VENTURE: SKE) ("Skeena" or the "Company") is pleased to announce plans for the upcoming 2017 field season at the past-producing Snip gold mine ("Snip" or the "Project"), located in the Golden Triangle of northwest British Columbia. Over 280,000 metres of historical surface and underground drill assays have now been reviewed and modelled along with the results from Skeena's 2016 program. A total of 15,000 metres of surface and underground drilling is planned, which should lead to an initial NI 43-101 Resource Estimate for release in late 2017.

Data Mining & Vein Modelling
Skeena has assembled a highly experienced team of geologists with past exploration and operational experience at Snip. The team has spent the last twelve months analyzing historical drill data from 3,550 holes and 8,435 metres of underground ramp and haulage development. After an extensive review of the historical data in combination with the results from last season's drill program, Skeena's technical team was able to model the high-grade gold veins that were left unmined at Snip as they were below the 24 g/t gold cut-off that existed when the mine shut-down in 1999. Underground and surface drill targets have now been identified with 9,000 metres of underground drilling and 6,000 metres of surface drilling planned for 2017.

The Twin Zone, which accounted for 61% of historical production, is a dilatant shear zone which developed progressively in response to externally applied stresses that caused strain to be localized in a number of southwest dipping shear veins. The most productive parts of the shear system occur when the structures change orientation and become steeper dipping, causing zones of extension that can form thicker zones of mineralization, including parallel zones as seen in the 150 and 130 Veins, which accounted for 24% of historical production. Drilling in 2017 will focus on identifying other dilatant zones, caused by changes in attitude of the shears, and specifically zones that are down plunge of or in the footwall of the Twin Zone.