Vancouver, BC (March 2, 2021) Skeena Resources Limited (TSX: SKE, OTCQX: SKREF) (“Skeena” or the “Company”) is pleased to report the last diamond drill core results from the Phase 2 campaign of definition and exploration drilling at the Eskay Creek Project (“Eskay Creek” or the “Project”) located in the Golden Triangle of British Columbia. The Phase 2 infill program, focused upon resource category conversions for the Pre-Feasibility Study (“PFS”) on open-pit constrained resources, is now complete. This release presents the last of the Phase 2 results. The Company has also recently completed a 5,000 m near-mine exploration program at Eskay Creek with results expected shortly. Reference images are presented at the end of this release as well as on the Company’s website.

Eskay Creek Infill Drilling Highlights:
21C Zone:
•     3.35 g/t Au, 9 g/t Ag (3.47 g/t AuEq) over 33.93 m (SK-21-677)
•     7.10 g/t Au, 406 g/t Ag (12.51 g/t AuEq) over 19.15 m (SK-21-678)
•     2.82 g/t Au, 57 g/t Ag (3.58 g/t AuEq) over 49.00 m (SK-21-679)
•     5.45 g/t Au, 12 g/t Ag (5.61 g/t AuEq) over 26.80 m (SK-21-702)
•     3.99 g/t Au, 14 g/t Ag (4.17 g/t AuEq) over 41.92 m (SK-21-815)
•     3.97 g/t Au, 13 g/t Ag (4.15 g/t AuEq) over 28.00 m (SK-21-816)

HW Zone:
•     6.06 g/t Au, 11 g/t Ag (6.21 g/t AuEq) over 16.40 m (SK-21-805)
•     3.20 g/t Au, 11 g/t Ag (3.34 g/t AuEq) over 32.19 m (SK-21-806)

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. True widths range from 70-100% of reported core lengths. Length weighted AuEq composites are constrained by geological considerations. Grade-capping of individual assays has not been applied to the Au and Ag assays informing the length-weighted AuEq composites. Metallurgical processing recoveries have not been applied to the AuEq calculation and are taken at 100%. Samples below detection limit were nulled to a value of zero.

Improved Widths Observed In 21C Zone
Mineralization within the 21C Zone has been expanded to depth as confirmed by 2021 Phase 2 drill intersection 2.82 g/t Au, 57 g/t Ag (3.58 g/t AuEq) over 49.00 m (SK-21-679) in a combination of Contact Mudstones and Rhyolite breccias. The nearest historical drill hole intersected comparable grade but over a lesser width, averaging 4.04 g/t AuEq over 25.99 m (C011099). Additional high-grade gold-silver mineralization was intersected by a flanking drill hole which intersected 7.10 g/t Au, 406 g/t Ag (12.51 g/t AuEq) over 19.15 m (SK-21-678) hosted in Contact Mudstones with a second Rhyolite-hosted interval grading 2.87 g/t Au, 7 g/t Ag (2.97 g/t AuEq) over 18.40 m.

Additional Mineralization Established in HW Zone
Supplementary near surface gold-silver mineralization has been established over two new intervals by SK-21-803 in the HW Zone averaging 2.14 g/t Au, 27 g/t Ag (2.50 g/t AuEq) over 7.57 m and 2.09 g/t Au, 25 g/t Ag (2.42 g/t AuEq) over 10.32 m, respectively. These grades and widths compare closely to the surrounding historical drill holes which informed the Company’s current Mineral Resource Estimate (MRE). However, this drill hole represents a potential expansion to the in-pit resource base due to its location outside the limits of the current resource blocks.

About Skeena
Skeena Resources Limited is a Canadian mining exploration 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 robust Preliminary Economic Assessment in late 2019 and is currently focused on infill and exploration drilling to advance Eskay Creek to full Feasibility by the end of 2021. Additionally, Skeena continues exploration programs at the past-producing Snip gold mine.

On behalf of the Board of Directors of Skeena Resources Limited,

Walter Coles Jr.
President & CEO

Contact Information
Investor Inquiries: info@skeenaresources.com
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com