Vancouver, BC (July 7, 2021) Skeena Resources Limited (TSX: SKE, OTCQX: SKREF) (“Skeena” or the “Company”) is pleased to report diamond drill core results from the 2021 Phase 3 infill and exploration drilling program at the Snip gold project (“Snip” or the “Project”) located in the Golden Triangle of British Columbia. The Phase 3 program is designed to upgrade areas of existing Inferred resources from the Company’s 2020 Mineral Resource Estimate (MRE), to the Measured and Indicated categories. Reference images are presented at the end of this release as well as on the Company’s website.
 
Snip 2021 Phase 3 Drilling Highlights:

• 30.72 g/t Au over 3.82 m (S21-099)
• 48.44 g/t Au over 4.50 m (UG21-126)
• 33.63 g/t Au over 4.00 m (UG21-169)
• 25.64 g/t Au over 4.00 m (UG21-172)
• 58.47 g/t Au over 3.81 m (UG21-175)
• 46.94 g/t Au over 4.75 m (UG21-176)
• 110.22 g/t Au over 4.41 m (UG21-177)

True widths range from 60-100% of reported core lengths. Length weighted Au composites are constrained by geological considerations. Grade-capping of individual assays has not been applied to the Au assays informing the length-weighted Au composites. Samples below detection limit were nulled to a value of zero.

New High-Grade Mineralization Intersected in Footwall Corridor
Situated on the 412 level of the Snip underground workings, a new cluster of previously unidentified, high-grade intersections have been intercepted during the Company’s Phase 3 infill program. A total of 21 fanned underground drill holes were collared from this single drill station to recategorize Inferred resources in the deeper footwall rocks. New high-grade veining intersections were discovered by all holes only metres into the underground rock face, all of which possess above average grades and widths as highlighted by intersection 110.22 g/t Au over 4.41 m which included 730.00 g/t Au over 0.58 m (UG21-177). Other examples include 46.94 g/t Au over 4.75 m including 320.00 g/t Au over 0.50 m (UG21-176) and 58.47 g/t Au over 3.81 m including 313.00 g/t Au over 0.60 m (UG21-175). This newly drilled mineralization is open for expansion up-dip 25 m and greater than 100 m down-dip due to a lack of drill hole sampling by previous operators. The westward strike extension is open for 40 m.

2021 Phase 3 Program Description
The 2021 drilling program at Snip is designed to convert Inferred resources from the Company’s 2020 MRE to higher confidence categories (Measured and Indicated) through surface and underground drilling. Dedicated geotechnical drilling is also being completed at the Project.

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 Q1 2022. 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